The growth of the global AI in drug discovery market is driven by various factors such as investments by industry giants into the AI business, increasing number of startups operating in AI spectrum for healthcare including drug discovery, machine learning, and other AI technologies and increased use of AI technology by major pharma companies in the drug discovery.
AI in Drug Discovery Market is expected to hold a value of about USD 5.94 billion by 2032, and it is projected to register a CAGR of 29.83% from 2023 to 2032.
In addition, the increasing number of cross-industry partnerships for achieving the common goal of improvement in the drug development outcomes is another factor for the growth of the AI in the drug discovery market. Below is the chart representing the number of AI-driven deals each of the Big Biopharma companies have disclosed till March 2019.
Major Key Players:
Players leading the global AI in Drug Discovery Market Players are Microsoft Corporation, IBM Corporation, Alphabet Inc., Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, BenevolentAI, Exscientia, Cyclica, Bioage, Numerate, Numedii, Inc., Envisagenics, Twoxar, Incorporated, Owkin, Inc., Xtalpi, Inc., Verge Genomics, and Berg LLC, among others.
Segment Analysis
The report is segmented into seven dynamics;
By Product Type : Services and Software.
By Molecule Type: Large and Small Molecules.
By Technology : Machine Learning, Deep Learning, and others.
By Indication : Immuno-oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, and others.
By Application : Target Identification, Candidate Screening, De novo Drug Designing, Drug Optimization & Repurposing, Preclinical Testing, and others.
By End-User : Pharmaceutical & Biotechnology Companies, Research Centers and Academic & Government Institutes, Contract Research Organizations, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Regional Analysis
The artificial intelligence drug discovery market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas region is expected to be the largest market owing to the number of big AI platform developers present in the region, such as Microsoft Azure, TensorFlow, and Google AI. The market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. Increasing demand for AI solutions by the pharmaceutical players such as AbbVie, Genentech, Amgen, and Eli Lilly and Company, among others, is pushing the market growth in the region. The European AI in drug discovery market is the second-largest market, and it has been categorized as Western Europe and Eastern Europe. The Western European market has further been divided as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. High demand for AI platforms and increasing integration into the drug discovery by major players such as Novartis, AstraZeneca, GSK, BI, BMS, and Sanofi, among others, are expected to drive the growth of AI in drug discovery market in the European region.
The AI in drug discovery market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to increasing R&D activities in the region and increasing adoption of the AI technologies by the pharma companies in countries like China and India, the market in Asia-Pacific is expected to grow at a significant rate during the forecast. The AI in drug discovery market in the Middle East & Africa has been divided into the Middle East and Africa.
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