AI for Drug Discovery Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[200+ Pages Report] According to Facts and Factors, the Global AI for Drug Discovery market size was worth USD 549.10 million in 2021 and is estimated to grow to USD 5124.55 million by 2028, with a compound annual growth rate (CAGR) of approximately 45.10% over the forecast period. The report analyzes the AI for Drug Discovery market’s drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities for Artificial Intelligence for Drug Discovery market.

Market Overview

In order to overcome complex problems in the drug development process, artificial intelligence (A.I.) for drug discovery uses machines to emulate human intelligence. It supports the identification of therapeutic targets, the creation of specialized drugs, and the discovery of novel molecules in the pharmaceutical industry. Cross-industry alliances and collaborations will be key factors impacting the market's growth rate. The healthcare industry has extensively used artificial intelligence, especially when seeking new treatments.

This greatly facilitates the quick selection, development, detection, and screening of tiny molecules and can recognize therapeutic targets. The market is predicted to grow dramatically over the course of the forecast period due to the benefits of utilizing these advanced approaches over conventional procedures. In addition, artificial intelligence shortens the time and expense required for the drug discovery process, accelerating market expansion. The rise in public awareness of artificial intelligence will likely positively impact manufacturers in the drug discovery and development market.

COVID-19 Impact:

Due to the broad usage of artificial intelligence by numerous organizations for the identification and screening of already available drugs used to treat COVID-19, the COVID-19 outbreak positively affected the growth of the drug discovery business. Artificial intelligence (A.I.) has been demonstrated to be useful in identifying chemicals that are active in preventing many viruses, including SARS-CoV, HIV, SARS-CoV-2, influenza, and others.

Key Insights

• AI for Drug Discovery market share value at a CAGR of 45.10% over the forecast period.
• The ophthalmic, urological, neuromuscular, gastrointestinal, and cardiovascular medical applications are among the sectors driving the worldwide Artificial Intelligence (AI) for Drug Discovery market.
• By offering, the services segment will dominate the market in 2021.
• By application, the Neurodegenerative diseases segment will dominate the market in 2021.
• North America will dominate the Global AI for Drug Discovery market in 2021.

Growth Drivers

• A reduction in total time involved in the drug discovery process is likely to pave the way for global market growth

The increased desire to reduce the overall time required for the drug discovery process would enhance the demand for artificial intelligence (A.I.) in drug discovery, propelling the market's growth pace even more. Animal models normally take three to five years to identify and enhance compounds before they are evaluated in humans, whereas AI-powered startups can uncover and build new drugs in days or months.

Restraints

• The high cost of technology may hamper the global market growth

The high cost of technology and technical restrictions will provide a hurdle to artificial intelligence (A.I.) in the drug discovery sector. However, a lack of experienced individuals and a lack of knowledge would act as a restraint and further hamper the market's growth pace over this period.

Opportunities

• A rise in the investment in R&D brings up several growth opportunities

The increase in R&D activities and the increasing adoption of cloud-based services and apps would create positive prospects for expanding artificial intelligence (A.I.) in the drug discovery market. The growing demand from emerging markets and the expansion of biotechnology industries would accelerate the growth rate of artificial intelligence (A.I.) for the drug discovery market in the future.

Segmentation Analysis

The global AI for Drug Discovery market is segregated on the basis of offering, technology, application, end-user, and region.

Technology divides the market into Machine Learning, Deep Learning, Supervised Learning, Unsupervised Learning, Reinforcement Learning, Other Machine Learning Technologies, and Other Technologies. Over the forecast period, the Deep Learning segment is expected to develop at the fastest rate in 2021. Deep learning aids in the consistent management of data, saves time, reduces the likelihood of errors in the drug discovery process, and minimizes the workload for end users, which are some of the important aspects driving the market expansion of this category.

By application, the market is divided into Immuno-oncology, Neurodegenerative diseases, Cardiovascular diseases, Metabolic diseases and Other Applications. Over the forecast period, the Neurodegenerative diseases segment is expected to develop at the fastest rate in 2021. The capacity of A.I. to develop treatments for difficult disorders and market players' concentration on delivering AI-based platforms for neurological diseases are responsible for the segment's rapid rise.

Report Scope

Recent Developments

• In March 2021 - Iktos (France) and Pfizer (U.S.) collaborated to deploy Iktos' AI-driven de novo design software to Pfizer's selected small-molecule programs.
• In October 2020, Genesis Therapeutics (U.S.) and Genentech (U.S.) entered into a multi-target drug development agreement in which Genesis will use their graph machine learning skills to uncover therapeutic candidates for various illnesses.

Regional Landscape

The rising concentration of top pharmaceutical businesses is likely to help North America dominate the global market

North America is expected to dominate Artificial Intelligence (AI) in Drug Discovery Market in 2021. The United States has been at the forefront of A.I. technology since its inception. Major US technology businesses have all worked with prestigious institutions to speed up pharmaceutical research, design, and repurposing. They are utilizing A.I. to investigate disorders and draw pertinent conclusions that can enhance disease management. Leading start-up companies and a handful of well-known A.I. technology providers are based in North America. Other market factors include the region's strong concentration of top pharmaceutical businesses like Abbott Laboratories (U.S.), Pfizer (U.S.), and Johnson & Johnson (U.S.), as well as the region's well-established pharmaceutical sector, high emphasis on R&D, and significant R&D investments.

Over the forecast period, Asia Pacific regional market is expected to grow significantly in AI for Drug Discovery market in 2021because the region is investing an increasing amount in research and development activities. Developing countries in the Asia-Pacific region are adopting A.I. as a tool to understand illnesses better and speed the development of new medications. Lantern Pharma has worked with the A.I. company Intuition Systems, based in India to develop biomarkers and new medications. The goal of Niramai and Sigtuple, two comparable AI companies, is to enhance healthcare by speeding up the development of new drugs and better identifying target proteins and biomarkers.

Competitive Landscape

Key players within the global Artificial Intelligence (AI) for Drug Discovery market include 

• Atomwise Inc. (U.S.) 
• BenevolentAI (U.K.) 
• NuMedii (U.S.) 
• BERG LLC (U.S.) 
• Cloud Pharmaceuticals (U.S.) 
• Microsoft (U.S.) 
• Insilico Medicine (U.S.) 
• Cyclica (Canada) 
• NVIDIA Corporation (U.S.) 
• Google (U.S.) 
• Exscientia (U.K.) 
• Schrödinger (U.S.) 
• Deep Genomics (Canada) 
• IBM (U.S.) 
• BIOAGE (U.S.) 
• twoXAR (U.S.) 
• Owkin Inc. (U.S.) 
• XtalPi (U.S.) 
• Valo Health (U.S.) 
• Envisagenics (U.S.) 
• Verge Genomics (U.S.) 
• Biovista (U.S.) 
• Standigm (South Korea) 
• Evaxion Biotech (Denmark) 
• Iktos (France) 
• BenchSci (Canada)

Global AI for Drug Discovery market is segmented as follows:

By Offering

• Software
• Services

By Technology

• Machine Learning
• Deep Learning
• Supervised Learning
• Reinforcement Learning
• Unsupervised Learning
• Other Machine Learning Technologies
• Other Technologies

By Application

• Immuno-oncology
• Neurodegenerative Diseases
• Cardiovascular Diseases
• Metabolic Diseases
• Other Applications

By End User

• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Research Centres and Academic & Government Institutes

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America