AI in Drug Discovery Market Global Synopsis, Surge, Future Scope, Analysis and Forecast to 2030
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 8.9 Billion by 2030, and it is projected to register a CAGR of 24.9% from
2022 to 2030.
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 in medicine 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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