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#What Is The Projected Market Size Of The Artificial Intelligence (AI) In Drug Discovery Market By 2029?
The market size for artificial intelligence (AI) in drug discovery has seen substantial expansion in recent years. This market is expected to increase from $1.78 billion in 2024 to $2.33 billion in 2025, showing a compound annual growth rate (CAGR) of 30.5%. Several factors contributed to its growth during the historical period, including the development of emerging markets, the rising occurrence of chronic diseases, the greater integration of artificial intelligence (AI) for more cost-effective drug discovery processes, and the escalating stringent quality regulations imposed on drug manufacturers.
The market for artificial intelligence (AI) in drug discovery is projected to experience rapid expansion in the coming years. This market is anticipated to reach a value of $5.89 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 26.1%. Factors driving this expansion during the forecast period include governmental assistance, increased spending on healthcare, and the growing uptake of cloud-based solutions and services. Key trends expected over this period encompass the incorporation of multi-omics data, AI’s role in target identification, its application in drug screening, the establishment of AI innovation laboratories, and a surge in investments towards collaborations and partnerships.
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Which Drivers Are Supporting Growth Of The Artificial Intelligence (AI) In Drug Discovery Market?
The increasing demand for personalized medicine is anticipated to propel the expansion of artificial intelligence (AI) within the drug discovery market in the future. Personalized medicine is defined as a form of treatment that utilizes insights into an individual’s genes or proteins to prevent, detect, or address illnesses. AI holds a vital position in crafting personalized medicines across all pertinent stages of clinical advancement and the deployment of novel personalized health solutions, achieved through identifying suitable intervention targets and evaluating their effectiveness. As an illustration, in February 2024, the Personalized Medicine Coalition, a US-based professional membership organization, reported that in 2022, the US Food and Drug Administration (FDA) sanctioned 12 personalized medicines. This figure represented about 34% of all recently approved therapeutic molecular entities. Consequently, the escalating demand for personalized medicine is fueling the advancement of artificial intelligence (AI) in the drug discovery market.
What Are The Segment Types Shaping 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
What Trends Are Redefining The Artificial Intelligence (AI) In Drug Discovery Market Dynamics?
Leading companies in the AI drug delivery market are increasingly forming strategic collaborations to conduct drug research and discovery with AI, thereby achieving notable prominence in the artificial intelligence in the drug discovery market. A prime example occurred in August 2022, when Atomwise, a US-based artificial intelligence systems company, entered into a partnership with Sanofi. The objective of this collaboration was to computationally identify and investigate up to five pharmacological targets using the Atomwise AI-powered AtomNet technology. To facilitate the discovery, creation, and advancement of lead compounds for up to five Sanofi-exclusive targets, Atomwise received a $20 million upfront payment from Sanofi. Sanofi is a French pharmaceutical and healthcare company.
Who Are The Major Companies Operating In 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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What Regional Growth Trends Are Shaping The Artificial Intelligence (AI) In Drug Discovery Market Outlook?
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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