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What Are The Market Size Estimates For The Artificial Intelligence (AI) In Drug Discovery Market?
In recent times, there has been a significant increase in the size of the artificial intelligence (AI) in drug discovery market. The anticipated growth is from $1.78 billion in 2024 to a staggering $2.33 billion in 2025, representing a compound annual growth rate (CAGR) of 30.5%. The surge in this period has been influenced by the growth in emerging markets, heightened occurrence of chronic ailments, the progressing acceptance of AI for economical drug discovery, and the tightening quality standards imposed on drug manufacturers.
Over the coming years, the market size of artificial intelligence (AI) in drug discovery is anticipated to witness substantial growth. The market is predicted to reach $5.89 billion by 2029, with a compound annual growth rate (CAGR) of 26.1%. The anticipated growth during this period could be due to government backing, a rise in healthcare spending, and an increasing uptake of cloud-powered applications and services. The forecast period is also expected to see several key trends such as the merging of multi-omics data, the application of AI in pinpointing targets, utilization of AI in drug screening, the launch of AI-driven innovation labs, and a rise in investment towards partnerships and collaborations.
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Which Growth Drivers Are Shaping The Artificial Intelligence (AI) In Drug Discovery Market Outlook?
The burgeoning need for personalized medicine is predicted to fuel the expansion of artificial intelligence (AI) application in the drug discovery sector. Personalized medicine is a kind of medication that utilizes information about an individual’s genes or proteins to prevent, detect, or cure disease. AI has the potential to significantly contribute to the creation of personalized medicines during crucial stages of clinical development and the launch of new individualized health items by identifying appropriate intervention targets and assessing their usefulness. For example, as per the Personalized Medicine Coalition, a professional body in the US, in February 2024, 12 personalized medicines were approved by the US Food and Drug Administration (FDA) in 2022, representing roughly 34% of all authorized therapeutic molecular entities. Therefore, the escalating demand for personalized medicine is promoting the expansion of artificial intelligence (AI) in the drug discovery market.
What Are The Primary Segmentation Parameters In The Artificial Intelligence (AI) In Drug Discovery Market?
The artificial intelligence (AI) in drug discoverymarket covered in this report is segmented –
1) By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning
2) By Drug Type: Small Molecules, Large Molecules
3) By Therapeutic Type: Metabolic Disease, Cardiovascular Disease, Oncology, Neurodegenerative Diseases, Anti-Infective Diseases, Respiratory Diseases, Other Therapeutics
4) By End User: Pharmaceutical Companies, Biopharmaceutical Companies, Academic And Research Institutes, Other End-Users
Subsegments:
1) By Context-Aware Processing: Contextual Data Integration; Predictive Modeling; Adaptive Learning Systems
2) By Natural Language Processing (NLP): Text Mining And Analysis; Sentiment Analysis; Drug Interaction Extraction; Clinical Trial Data Analysis
3) By Querying Method: Semantic Search; Knowledge Graphs; Structured Query Language (SQL) Based Queries
4) By Deep Learning: Neural Networks; Convolutional Neural Networks (CNNs); Recurrent Neural Networks (RNNs); Reinforcement Learning Applications
How Are Industry Trends Steering The Expansion Of The Artificial Intelligence (AI) In Drug Discovery Market?
Major firms in the AI drug delivery sector are achieving substantial prominence in the artificial intelligence in the pharmaceutical discovery sector, thanks to their intentional partnerships aimed at researching and discovering drugs through AI. For instance, Atomwise, an artificial intelligence system firm based in the United States, formed a collaboration with Sanofi in August 2022. The objective of this partnership was to utilize AtomNet technology, powered by Atomwise AI, to computationally recognize and examine up to five pharmacological targets. In exchange for locating, producing, and furthering lead compounds for a maximum of five targets exclusive to Sanofi, Atomwise received an initial payment of $20 million from Sanofi, a French healthcare and pharmaceutical company.
Which Organizations Are At The Forefront Of The Artificial Intelligence (AI) In Drug Discovery Market?
Major companies operating in the artificial intelligence (AI) in drug discovery market include IBM Corporation, Microsoft Corporation, NVIDIA Corporation, Exscientia, Alphabet, Insilico Medicine, Owkin Inc, Xtalpi Inc, Cloud Pharmaceuticals, Shanghai PharmaceuticS, Standigm, Indegene, Intuition Systems, Innoplexus, Takeda Pharmaceutical Company Ltd., RxPrism, Otsuka Pharmaceutical Co. Ltd., China National Pharmaceutical Group Co., Ltd., Jiangsu Hengrui Medicine Co., Ltd, Cipla Limited, Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Ltd., Sun Pharma, Tricog Health Services Pvt. Ltd., Alliance Pharm Pte Ltd., CytoReason, IIPharma, StoneWise, Adagene, GT Apeiron Therapeutics, Xbiome, Accutar Biotech, DeepMind, Renalytix AI, Iktos, Ipsen Pharma, Galderma S.A., BenevolentAI, Deepflare, Novartis, Gero, Ardigen, Botkin, Care Mentor AI, Diagnocat, GNS Healthcare, Merck & Co., Apotex, Pfizer, Gilead Sciences, Roche, Bayer, AbbVie Inc., GlaxoSmithKline, AstraZeneca, Amgen, Sanofi Pasteur, Abbott Laboratories, Teva Canada, Accord Healthcare Inc, Acerus Pharmaceuticals Corporation, AA Pharma Inc, Sanfer, Siegfried Rhein, Atomwise, Inc., Bioage, NuMedii, Envisagenics, Aria Pharmaceuticals, Verge Genomics, Berg LLC, Deep Genomics, Cyclica, IQVIA, Quris, GE Healthcare, Avanade, Group42 Holding Ltd, Ilara Health, Adcock Ingram, Johnson & Johnson, Eurolab, Ranbaxy (SA) (Pty) Ltd, Aspen, Rology, hearX Group, DilenyTech
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Which Region Holds The Greatest Opportunity For Artificial Intelligence (AI) In Drug Discovery Market Expansion?
North America was the largest region in the artificial intelligence (AI) in drug discovery market in 2024. Western Europe was the second largest region in the global artificial intelligence (AI) in drug discovery market share. 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, Africa
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