The global artificial intelligence (AI) in drug discovery market size is expected to grow from $0.79 billion in 2021 to $1.04 billion in 2022 at a compound annual growth rate (CAGR) of 31.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The AI in drug discovery market is expected to reach $2.99 billion in 2026 at a CAGR of 30.2%.
What is the Global Artificial Intelligence (AI) In Drug Discovery Market?
The artificial intelligence (AI) in drug discovery market consists of sales of AI for drug discovery and related services. Artificial Intelligence (AI) for drug discovery is a technology that uses a simulation of human intelligence process by machines to tackle complex problems in the drug discovery process. It helps to find new molecules to identify drug targets and develop personalized medicines in the pharmaceutical industry.
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What drives the Global Artificial Intelligence (AI) In Drug Discovery Market?
The rise in demand for a reduction in the overall time taken for the drug discovery process is a key driver propelling the growth of the artificial intelligence (AI) in drug discovery market. Traditionally, it takes three to five years for animal models to identify and optimize molecules before they are evaluated in humans whereas start-ups based on AI have been identifying and designing new drugs in a matter of few days or months. For instance, in 2020, the British start-up Exscientia and Japan's Sumitomo Dainippon Pharma have used artificial intelligence to produce an Obsessive-Compulsive Disorder (OCD) medication, decreasing the development time from four years to less than one year. The reduction in overall time taken for the drug discovery process drives the artificial intelligence in drug discovery market’s growth.
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Global Artificial Intelligence (AI) In Drug Discovery Market Segments
The global artificial intelligence (AI) in drug discovery market is segmented:
By Technology: Deep Learning, Machine Learning
By Drug Type: Small Molecule, Large Molecules
By Disease Type: Metabolic Disease, Cardiovascular Disease, Oncology, Neurodegenerative Diseases, Others
By End-Users: Pharmaceutical Companies, Biopharmaceutical Companies, Academic and Research Institutes, Others
By Geography: The regions covered in the artificial intelligence (AI) in drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Artificial Intelligence (AI) In Drug Discovery Global Market Report 2022provides market size and growth forecasts for the global artificial intelligence (AI) in drug discovery market, global artificial intelligence (AI) in drug discovery market share, artificial intelligence (AI) in drug discovery market segments and geographies, artificial intelligence (AI) in drug discovery market competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence (AI) in drug discovery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Artificial Intelligence (AI) In Drug Discovery Industry Playersinclude IBM Corporation, Microsoft, Atomwise Inc., Deep Genomics, Cloud Pharmaceuticals, Insilico Medicine, Benevolent AI, Exscientia, Cyclica and BIOAGE. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
