Global AI in Drug Discovery Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global AI in Drug Discovery Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Component Type (Software, and Services), Application Type (Preclinical Testing, Drug Optimization and Repurposing, Target Identification, Candidate Screening, and Others (De novo Drug Designing, Prediction of Bioactivity, and Prediction of Toxicity)), Therapeutic Area (Oncology, Neurodegenerative Diseases, Cardiovascular Diseases, Metabolic Diseases, Rare Diseases, Infectious Diseases, and Genetic Diseases), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global AI in Drug Discovery Market was valued at USD 1,362.7 million in 2023 and is expected to reach USD 13,181.7 million by 2031 while growing at a CAGR of 32.8% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global AI in drug discovery market growth. AI in drug discovery involves using AI and ML techniques to improve the drug discovery process, which is typically time-consuming, costly, and prone to high failure rates. AI technologies address these challenges by employing computational algorithms to analyze extensive datasets, predict biological interactions, and identify potential drug candidates more efficiently.
The complex and time-consuming process of identifying and developing new pharmaceutical compounds, coupled with the growing availability of high-performance computing resources, is anticipated to significantly boost the AI in drug discovery market. However, obstacles like strict regulatory standards and ethical and privacy concerns could impede market expansion.
Furthermore, the global AI in drug discovery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Component Type Analysis
The Global AI in Drug Discovery Market is segmented among Software, and Services, based on component type. In 2023, Software accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Application Type Analysis
The Global AI in Drug Discovery Market is segmented among Preclinical Testing, Drug Optimization and Repurposing, Target Identification, Candidate Screening, and Others (De novo Drug Designing, Prediction of Bioactivity, and Prediction of Toxicity), based on application type. In 2023, Candidate Screening accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global AI in Drug Discovery Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Microsoft, IBM, Exscientia, GNS Healthcare, Alphabet, Benevolent AI, Cloud, NVIDIA Corporation, DEEP GENOMICS, and Neumora.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global AI in Drug Discovery Market Dynamics
Drivers
Restraints
Opportunity
4. Global AI in Drug Discovery Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global AI in Drug Discovery Market Segmentation, By Component Type
Global AI in Drug Discovery Market Share Analysis, By Component Type
Global AI in Drug Discovery Market Growth Analysis, By Component Type
Global AI in Drug Discovery Market Trends, By Component Type
o Software
o Services
6. Global AI in Drug Discovery Market Segmentation, By Application Type
Global AI in Drug Discovery Market Share Analysis, By Application Type
Global AI in Drug Discovery Market Growth Analysis, By Application Type
Global AI in Drug Discovery Market Trends, By Application Type
o Preclinical Testing
o Drug Optimization and Repurposing
o Target Identification
o Candidate Screening
o Others (De novo Drug Designing, Prediction of Bioactivity, and Prediction of Toxicity)
7. Global AI in Drug Discovery Market Segmentation, By Therapeutic Area
Global AI in Drug Discovery Market Share Analysis, By Therapeutic Area
Global AI in Drug Discovery Market Growth Analysis, By Therapeutic Area
Global AI in Drug Discovery Market Trends, By Therapeutic Area
o Oncology
o Neurodegenerative Diseases
o Cardiovascular Diseases
o Metabolic Diseases
o Rare Diseases
o Infectious Diseases
o Genetic Diseases
8. Global AI in Drug Discovery Market Segmentation, By Region
Global AI in Drug Discovery Market Share Analysis, By Region
Global AI in Drug Discovery Market Growth Analysis, By Region
Global AI in Drug Discovery Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
9. Competitive Landscape
Microsoft*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
IBM
Exscientia
GNS Healthcare
Alphabet
Benevolent AI
Cloud
NVIDIA Corporation
DEEP GENOMICS
Neumora
*Similar analysis will be provided for each company listed above.
