Global AI in Drug Discovery Market Size, Share, Growth Analysis, By Type(Small molecules and Large molecules), By End-User(Pharmaceutical and Biotechnology Companies and Academics and Research institutes) - Industry Forecast 2023-2030

Global AI in Drug Discovery Market size was valued at USD 850 million in 2021 and is poised to grow from USD 1,101.6 million in 2022 to USD 4,982.8 million by 2030, growing at a CAGR of 29.6% during the forecast period (2023-2030).

The global AI in drug discovery market is a rapidly evolving and transformative field that combines the power of artificial intelligence (AI) and machine learning (ML) with traditional pharmaceutical research and development processes. AI is revolutionizing the drug discovery process by offering innovative solutions to accelerate the discovery and development of new drugs, optimize clinical trials, and improve patient outcomes. AI in drug discovery leverages computational algorithms and advanced data analytics to analyze massive amounts of biological and chemical data. It enables researchers to identify potential drug targets, design novel molecules, predict their properties, and assess their safety and efficacy. By utilizing AI, pharmaceutical companies and research institutions can streamline the drug discovery process, reduce costs, and increase the success rate of bringing new drugs to market. The global AI in drug discovery market is witnessing significant growth and investment from pharmaceutical companies, technology firms, and venture capitalists. The market is driven by factors such as the increasing demand for innovative and effective drugs, the growing availability of big data in the life sciences industry, and advancements in AI and ML technologies. Furthermore, regulatory agencies are increasingly recognizing the potential of AI in drug discovery and are actively working to establish guidelines and frameworks for its implementation.

Top-down and bottom-up approaches were used to estimate and validate the size of the global AI In Drug Discovery Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global AI In Drug Discovery Market Segmental Analysis

Global AI in Drug Discovery Market is segmented type, end-user, and region. Based on Technology, the market can be segmented into small molecules and large molecules. Based on end-user, the market is segmented into Pharmaceutical and Biotechnology Companies and Academics and Research institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global AI In Drug Discovery Market Dynamics

Drivers of the Global AI In Drug Discovery Market

Rise in incidence of chronic diseases propels need for AI in drug discovery

Around the world, the prevalence of chronic diseases is rising quickly. The Centres for Disease Control and Prevention (CDC) estimate that six out of ten persons in the United States have a chronic illness. The CDC also emphasises that chronic illnesses like diabetes and heart disease are the main killers in the United States. These figures highlight the rising incidence of chronic diseases and the necessity of reducing the death rate brought on by these illnesses. Deriving insights into the identification of medications to treat and lessen the severity of various chronic diseases may show to be a practical alternative using AI platforms utilised for drug research.

Restraints in the Global AI In Drug Discovery Market

High cost associated with technology and technical limitations

The healthcare industry currently faces a number of difficult problems, such as rising medicine and therapy costs, and society needs specific, significant improvements in this area. Since this data are utilised for the following training that is given to the system, the success of AI as a whole hinges on their availability. For a business, accessing data from different database providers may result in additional expenses. Clinical trials take six to seven years to complete and include a substantial monetary investment in order to determine the safety and effectiveness of a medicinal product in people for a specific disease condition. Only one out of every ten compounds that undergo these trials, however, receive successful clearance, which represents a significant loss for the industry.

Market Trends of Global AI In Drug Discovery Key

The global AI in drug discovery market is characterized by several key market trends that are shaping the industry's landscape. Firstly, there is an increasing adoption of AI technologies as pharmaceutical companies recognize their potential in analyzing complex biological and chemical data. By leveraging AI capabilities, drug discovery processes are becoming more efficient and successful. Collaborations and partnerships are on the rise in AI in drug discovery market. Pharmaceutical companies, technology firms, and academic institutions are joining forces to combine expertise and resources. These collaborations accelerate innovation and knowledge sharing, leading to advancements in AI-driven drug discovery. Overall, these key market trends highlight the transformative impact of AI in drug discovery. By enhancing efficiency, precision, and personalized medicine approaches, AI technologies are shaping the future of pharmaceutical research and development.