The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Introduction: The Exponential Growth of AI in Drug Discovery

• Market size surged from $1.37 billion in 2023 to $1.79 billion in 2024.
• Compound annual growth rate (CAGR) of 30.8% attributed to various factors.

Factors Driving Historic Growth

• Emerging markets’ expansion.
• Rising prevalence of chronic diseases.
• Increased AI adoption for cost-efficient drug discovery.
• Stringent quality regulations for drug manufacturers.

Projected Growth and Forecast Trends

• Expected to reach $4.71 billion in 2028 with a CAGR of 27.4%.
• Factors include government support and rising healthcare expenditure.
• Key trends: integration of multi-omics data, AI in target selection and drug screening, AI innovation labs, and partnerships.

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AI In Drug Discovery Surges With Growing Demand For Personalized Medicine

• AI’s pivotal role in personalized medicine development.
• AI aids in finding appropriate intervention targets and testing utility.
• FDA approval statistics underline the importance of personalized medicine.

Strategic Investments In AI-Driven Drug Discovery

• Major companies invest in AI-based drug discovery.
• Funding aids research and development, expediting drug discovery.
• Example: Nvidia’s $50 million investment in Recursion Pharmaceuticals.

Telecom Giant Tecnotree Expands Into AI For Pharmaceuticals With Acquisition Of CognitiveScale

• Tecnotree’s acquisition of CognitiveScale for $6 million.
• Enhances Tecnotree’s AI capabilities for pharmaceutical applications.
• Potential development of AI-powered solutions for drug discovery.

Segmentation of AI in Drug Discovery Market

• By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning.
• By Drug Type: Small Molecules, Large Molecules.
• By Therapeutic Type: Various categories including Oncology, Cardiovascular Disease, and Neurodegenerative Diseases.
• By End User: Pharmaceutical Companies, Biopharmaceutical Companies, Academic And Research Institutes.

North America Leading the Charge

• North America dominated the AI in drug discovery market in 2023.

In conclusion, the landscape of drug discovery is rapidly evolving with the integration of AI technologies. As personalized medicine gains traction and investments pour into AI-driven initiatives, the future holds immense promise for innovative treatments and improved healthcare outcomes.

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