Dublin, Dec. 18, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) in Drug Discovery - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Artificial Intelligence (AI) in Drug Discovery was estimated at US$2.6 Billion in 2023 and is projected to reach US$13.5 Billion by 2030, growing at a CAGR of 26.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Scope of the Study
The report analyzes the Artificial Intelligence (AI) in Drug Discovery market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
Therapeutic Area (Oncology, Neurodegenerative Diseases, Metabolic Diseases, Cardiovascular Disease, Infectious Disease, Other Therapeutic Areas); Application (Drug Optimization & Repurposing, Preclinical Testing, Other Applications).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
AI in Drug Discovery Market Drivers
The growth in the AI in drug discovery market is driven by several factors, including technological advancements, the increasing need for cost-effective and efficient drug development, and the rise of complex diseases requiring innovative treatment approaches. One significant driver is the advancement of computational power and cloud-based platforms, which allow for the analysis of large datasets, complex molecule structures, and high-throughput screening, making AI more accessible and scalable for pharmaceutical companies.
Additionally, the soaring costs and long timelines associated with traditional drug discovery are prompting the industry to adopt AI-driven approaches that reduce both time and expenditure, as AI offers tools to identify promising compounds and predict outcomes with higher efficiency. The rise of personalized medicine and targeted therapies has created demand for AI solutions capable of analyzing genetic and biomarker data to tailor treatments to specific patient profiles. Moreover, the increasing prevalence of complex diseases like cancer and neurodegenerative disorders has accelerated the need for novel drug discovery methods, as traditional approaches have struggled to address these challenges adequately.
Finally, regulatory support for AI applications in drug discovery has also contributed to market growth, as governments and health organizations are beginning to acknowledge and facilitate the role of AI in addressing urgent medical needs. Together, these technological, economic, and healthcare demands are driving the integration of AI into drug discovery, setting the stage for a future where AI significantly enhances the pace and precision of bringing new medicines to market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Oncology Therapeutic Area segment, which is expected to reach US$3 Billion by 2030 with a CAGR of a 22.8%. The Neurodegenerative Diseases Therapeutic Area segment is also set to grow at 24% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $751.4 Million in 2023, and China, forecasted to grow at an impressive 25.7% CAGR to reach $2.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Artificial Intelligence (AI) in Drug Discovery Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Artificial Intelligence (AI) in Drug Discovery Market such as Atomwise, Inc., Benevolentai, Berg LLC, Bioage, Cloud Pharmaceuticals, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 293 companies featured in this Global Artificial Intelligence (AI) in Drug Discovery Market report include:
- Atomwise, Inc.
- BenevolentAI
- Berg LLC
- Bioage
- Cloud Pharmaceuticals, Inc.
- Cyclica
- Deep Genomics
- Envisagenics
- Exscientia
- Google (A Subsidiary of Alphabet Inc.)
- IBM Corporation
- Insilico Medicine
- Microsoft Corporation
- Numedii, Inc.
- Numerate
- NVIDIA Corporation
- Owkin, Inc.
- Twoxar, Incorporated
- Verge Genomics
- Xtalpi, Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 219 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $2.6 Billion |
| Forecasted Market Value (USD) by 2030 | $13.5 Billion |
| Compound Annual Growth Rate | 26.4% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Artificial Intelligence (AI) in Drug Discovery - Global Key Competitors Percentage Market Share in 2024
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Demand for Faster Drug Development Propels Growth of AI in Drug Discovery
- Increasing Focus on Reducing R&D Costs Drives Adoption of AI-Powered Drug Discovery Platforms
- Here`s How AI-Powered Predictive Modeling Enhances Drug Target Identification and Screening
- Advances in Machine Learning Algorithms Boost Efficiency and Accuracy in Drug Discovery Processes
- Growing Use of AI for Drug Repurposing Expands Opportunities in Pharmaceutical Development
- Rising Demand for Precision Medicine Spurs Adoption of AI in Personalized Drug Discovery
- Here`s How Big Data Integration and Genomics Fuel Innovation in AI-Driven Drug Discovery
- Increasing Need for Early Prediction of Drug Safety and Efficacy Drives AI Applications in Drug Testing
- Advancements in Natural Language Processing Enable AI-Enhanced Literature and Data Mining for Drug Discovery
- Here`s How AI Supports Novel Drug Design by Simulating Molecular Interactions
- Growing Investments in Biopharmaceuticals and Biotechnology Boost Market for AI in Drug Discovery
- Focus on Reducing Time-to-Market for New Drugs Strengthens Business Case for AI Solutions
- Increasing Collaboration Between AI Companies and Pharmaceutical Firms Expands Market Scope
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/lnio59
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