According to a research report published by Spherical Insights & Consulting, the Global AI In Drug Discovery Market Size is Expected to Grow from USD 0.78 Billion in 2023 to USD 19.9 Billion by 2033, at a CAGR of 38.25% during the forecast period 2023-2033.

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AI has the potential to make an impact on various drug discovery processes, such as drug designing, chemical synthesis, drug screening, polypharmacology, and drug repurposing. Artificial intelligence (AI) will dramatically advance the field of drug research. It optimizes experiments, emphasizes important objectives, and allows virtual screening, which in turn results in faster failures and a more diverse testing portfolio. AI has the potential to radically modify the workflows of drug discovery by integration of phases and automation of processes while simultaneously lessening in-process decision-making and accelerating the optimization of properties. Furthermore, Advances in machine learning and data analytics are accelerating the processes in drug discovery and are therefore driving the AI in drug discovery market. AI facilitates more efficient drug candidate identification and streamlines clinical trials and their costs. More investment in AI technologies, increasing demand for personalized medicine, and prevalence of chronic diseases propel the growth of the market. However, the AI in drug discovery market faces high implementation costs, non-standardized data, regulatory issues, and concerns over the safety of data. In addition to these, the complexity in incorporating AI with traditional methods can slow the growth in this market.

Browse key industry insights spread across 190 pages with 116 Market data tables and figures & charts from the report on the Global AI In Drug Discovery Market Size, Share, and COVID-19 Impact Analysis, By Therapeutic Area (Oncology, Infectious Diseases, Neurology, Metabolic, Cardiovascular, Immunology, and Others), By Technology (Machine Learning, Natural Language Processing, Context-Aware Processing, and Others), By Application (Drug Optimization & Repurposing, Preclinical Testing, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The infectious diseases segment is expected to hold the greatest market share through the forecast period.

On the basis of the therapeutic area, the global AI in drug discovery market is divided into oncology, infectious diseases, neurology, metabolic, cardiovascular, immunology, and other therapeutic areas.  Among these, the infectious diseases segment is expected to hold the greatest market share through the forecast period. The segmental growth due to AI platforms make use of a network of linked devices such as smartphones and medical equipment, and the data produced from these devices can be utilized to recognize lifestyle patterns and differences to study disease.

The machine learning segment is expected to grow at a rapid CAGR growth through the forecast period.

On the basis of the technology, the global AI in drug discovery market is divided into machine learning, natural language processing, context-aware processing, and other technologies. Among these, the machine learning segment is expected to grow at a rapid CAGR growth through the forecast period. This is due to machine learning algorithms recognizing potential therapeutic targets, forecasting drug efficacy, and optimizing drug design thanks to the growing availability and accessibility of vast amounts of data, including genomes, proteomics, and clinical records. This leads to more focused and effective drug development procedures.

The drug optimization and repurposing segment is expected to hold the largest revenue share through the forecast period.

On the basis of the application, the global AI in drug discovery market is divided into drug optimization & repurposing, preclinical testing, and others. Among these, the drug optimization and repurposing segment is expected to hold the largest revenue share through the forecast period. This is attributed to the platforms for drug optimization and repurposing help pharmaceutical companies create alternative treatments by making minor adjustments to the product, thereby increasing their options. Researchers can lower the chance of negative effects and identify a drug’s harmful effects on the human body with the help of AI platforms.

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North America is expected to hold the greatest share of the global AI in drug discovery market over the predicted timeframe.

North America is expected to hold the greatest share of the global AI in drug discovery market over the predicted timeframe. North America is expected to lead the AI drug discovery market because of its extensive use of AI technology in medical development and higher R&D expenditures. Several things contribute to North America’s growth,  including a rise in government initiatives to support precision medicine in the US, more research funding, and the use of AI-based tools in R&D for drug discovery by major pharmaceutical companies. Its position in the AI in drug discovery market is reinforced by the region’s commitment to fostering innovation through partnerships between academia, industry, and technology providers.

Asia Pacific is anticipated to grow at a rapid CAGR growth of the global AI in drug discovery market during the forecast period. Emerging countries in the Asia-Pacific region are also adopting AI tools in an attempt to understand diseases better and improve drug discovery. Recently, Insight Systems, an AI company in India, collaborated with Lantern Pharma to develop drugs and discover biomarkers. Asia Pacific is projected to show strong growth in the AI in drug discovery industry. Moreover, the ongoing infrastructure development within the area for healthcare will mainly boost market growth, signifying Asia-Pacific’s increasing importance in shaping the landscape of AI applications in drug discovery.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global AI in drug discovery market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global AI in drug discovery market are IBM Watson, NVIDIA Corporation, Exscientia, GNS Healthcare, Aria Pharmaceuticals, Inc., Alphabet (DeepMind), Benevolent AI, BioSymetrics, Insilico Medicine, Envisagenics, Euretos, Berg Health, Atomwise, Intro, Cyclica, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 Key Market Development

• In September 2023, Exscientia and Merck KGaA partnered to find new small-molecule treatments for immunology, neuroinflammation, and cancer. The multi-year partnership will make use of Exscientia’s AI-powered precision drug design and discovery capabilities while utilizing Merck KGaA’s clinical development capabilities, worldwide reach, and disease expertise in neuroinflammation and oncology.

• In May 2023Recursion, a top clinical-stage TechBio business that is industrializing drug discovery by decoding biology, announced that it has inked deals to buy two businesses in the AI-enabled drug discovery space: Value and Cyclica.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global AI in drug discovery market based on the below-mentioned segments:

Global AI In Drug Discovery Market, By Therapeutic Area

• Oncology
• Infectious Diseases
• Neurology
• Metabolic
• Cardiovascular
• Immunology
• Others

Global AI In Drug Discovery Market, By Technology

• Machine Learning
• Natural Language Processing
• Context-Aware Processing
• Others

Global AI In Drug Discovery Market, By Application

• Drug Optimization & Repurposing
• Preclinical Testing
• Others

 Global AI In Drug Discovery Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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