Global Artificial Intelligence in Drug Discovery Market Growth (Status and Outlook) 2023-2029

Global Artificial Intelligence in Drug Discovery Market Growth (Status and Outlook) 2023-2029

The global Artificial Intelligence in Drug Discovery market size is projected to grow from US$ 1336.3 million in 2022 to US$ 9255.5 million in 2029; it is expected to grow at a CAGR of 31.8% from 2023 to 2029.

The key manufacturers of Artificial Intelligence in Drug Discovery include IBM, Google (Alphabet), Atomwise, Schrodinger, Microsoft, etc. The top five players have a combined market share of about 19%.

North America is the world's largest market, accounting for about 46%. It is followed by Europe and Asia, each with about 25%. The Asian market is slowly expanding.

The application of Artificial Intelligence in Drug Discovery mainly includes hardware, software and service. Hardware is by far the most widely used, with a market share of about 53%. The market share of software types is expected to increase further.

Early drug discovery, preclinical phase, clinical phase, and regulatory approval are the main application stages. The current preclinical market share is about 38%, and it is expected to be more widely used in the preclinical stage in the future.

Artificial intelligence in medicine is the use of machine learning models to search medical data and uncover insights to help improve health outcomes and patient experiences. Thanks to recent advances in computer science and informatics, artificial intelligence (AI) is quickly becoming an integral part of modern healthcare. AI algorithms and other applications powered by AI are being used to support medical professionals in clinical settings and in ongoing research. Currently, the most common roles for AI in medical settings are clinical decision support and imaging analysis. Clinical decision support tools help providers make decisions about treatments, medications, mental health and other patient needs by providing them with quick access to information or research that's relevant to their patient.

Drug discovery is often one of the longest and most costly parts of drug development. AI could help reduce the costs of developing new medicines in primarily two ways: creating better drug designs and finding promising new drug combinations. With AI, many of the big data challenges facing the life sciences industry could be overcome.

LPI (LP Information)' newest research report, the “Artificial Intelligence in Drug Discovery Industry Forecast” looks at past sales and reviews total world Artificial Intelligence in Drug Discovery sales in 2022, providing a comprehensive analysis by region and market sector of projected Artificial Intelligence in Drug Discovery sales for 2023 through 2029. With Artificial Intelligence in Drug Discovery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Artificial Intelligence in Drug Discovery industry.

This Insight Report provides a comprehensive analysis of the global Artificial Intelligence in Drug Discovery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Artificial Intelligence in Drug Discovery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Artificial Intelligence in Drug Discovery market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Artificial Intelligence in Drug Discovery and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Artificial Intelligence in Drug Discovery.

This report presents a comprehensive overview, market shares, and growth opportunities of Artificial Intelligence in Drug Discovery market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Hardware
Software
Service

Segmentation by application
Early Drug Discovery
Preclinical Phase
Clinical Phase
Regulatory Approval

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
IBM
Exscientia
Google(Alphabet)
Microsoft
Atomwise
Schrodinger
Aitia
Insilico Medicine
NVIDIA
XtalPi
BPGbio
Owkin
CytoReason
Deep Genomics
Cloud Pharmaceuticals
BenevolentAI
Cyclica
Verge Genomics
Valo Health
Envisagenics
Euretos
BioAge Labs
Iktos
BioSymetrics
Evaxion Biotech
Aria Pharmaceuticals, Inc

Please note: The report will take approximately 2 business days to prepare and deliver.