Chicago, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "AI in Drug Discovery Market Size, Share & Trends by Offering, Process (Target selection, Validation, Lead generation, optimization), Drug Design (Small molecule, Vaccine, Antibody, PK/PD), Dry Lab, Wet Lab (Single Cell analysis) & Region - Global Forecast to 2028”, report highlights substantial growth projections. It anticipates the market to escalate from $0.9 billion in 2023 to $4.9 billion by 2028, at a notable CAGR of 40.2%. The integration of Artificial Intelligence (AI) in drug discovery is set to reshape the industry by accelerating research, optimizing experiments, and enhancing drug development processes. AI's capabilities include virtual screening, epitope selection, and property optimization, which streamline workflows and reduce time and costs associated with drug development. However, AI faces limitations such as insufficient data sets, challenges in understanding complex diseases, and ethical concerns regarding data privacy and decision-making transparency. The market dynamics are driven by the need to control drug discovery costs and expedite development, with emerging AI solutions from companies like Google Cloud and Insilico Medicine showcasing advancements. Despite the promise, challenges such as a shortage of skilled AI professionals and unclear regulatory guidelines persist. Emerging markets like India and China offer significant growth potential due to their expanding pharmaceutical sectors and favorable conditions for drug discovery. Key players in the field include NVIDIA, Exscientia, BenevolentAI, and Google, among others, who are actively involved in developing innovative AI solutions to enhance drug discovery and development.
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NVIDIA Corporation: Leader in AI-Powered Drug Discovery
NVIDIA Corporation, headquartered in the US, excels in designing and developing graphics processing units (GPUs) and offers advanced solutions for personal computers, mobile devices, and cloud architectures. The company's focus extends to deep learning, machine learning, and AI technologies. NVIDIA’s products support a diverse array of industries, including healthcare, where its GPUs are instrumental in powering AI workloads for drug discovery, such as molecular modeling and simulation. NVIDIA's AI software, including development tools and frameworks, facilitates the creation and deployment of AI applications in drug discovery. The company’s Clara Discovery suite provides a comprehensive set of tools for AI-driven drug research. With over 50 global offices, NVIDIA is investing significantly in drug discovery innovation, exemplified by its $50 million investment in Recursion Pharmaceuticals in July 2023. This partnership aims to leverage Recursion's extensive biological and chemical datasets on NVIDIA’s cloud platform to accelerate AI model development.
Exscientia: Innovator in AI-Driven Drug Discovery
Exscientia, based in the UK, specializes in AI-driven small-molecule drug discovery and design. The company is renowned for its end-to-end solution that combines AI and experimental technologies to streamline target identification, drug candidate design, and patient selection. Exscientia’s proprietary AI platform integrates chemical, biological, and clinical data to discover new drug targets and design therapeutic candidates. The company collaborates with major pharmaceutical firms such as GSK, Sanofi, and Roche to enhance drug discovery processes. In September 2023, Exscientia formed a multi-year partnership with Merck KGaA to develop novel small molecule drug candidates across oncology, neuroinflammation, and immunology, leveraging both companies' expertise and capabilities in drug design and clinical development.
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Offering Segment Insights
In the global AI in drug discovery market, the services segment holds the largest share by offering. In 2022, services outpaced software in market dominance and is projected to experience the highest growth rate during the forecast period. This growth is driven by the numerous advantages of AI services, including cost-effectiveness, reduced failure rates, scalability based on research needs, and minimal infrastructure requirements. The robust demand from end-users for these services further fuels this segment's expansion.
Therapeutic Area Insights
Within the AI in drug discovery market, the oncology segment captured the largest share in 2022. This dominance reflects the increasing need for effective cancer treatments. AI's role in oncology includes providing deeper insights into cancer's molecular mechanisms, leading to more personalized and effective treatments that improve patient outcomes and quality of life.
Process Segment Insights
The hit-to-lead identification/lead generation process is the leading segment in the AI in drug discovery market. This process is crucial for reducing compound failures during drug development. Its prominence is attributed to its critical role in drug discovery, with numerous contract research organizations (CROs) offering these services to pharmaceutical companies. The substantial demand for hit-to-lead identification/lead generation services contributes to its rapid growth.
End-User Market Insights
The pharmaceutical and biotechnology companies segment holds the largest share of the AI in drug discovery market. In 2022, this segment was the primary contributor to market growth. The demand for AI-enabled tools to enhance drug discovery efficiency significantly drives the expansion of this segment.
Regional Market Overview
The AI in drug discovery market is segmented into five key regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. In 2022, North America led the market, holding the largest share and showing the fastest growth. The region's dominance is attributed to early adoption of AI technologies, a strong presence of industry leaders, well-established pharmaceutical and biotechnology sectors, and substantial investments in research and development.
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