1. What is the projected Compound Annual Growth Rate (CAGR) of the Artificial Intelligence in Drug Discovery Market?
The projected CAGR is approximately 12.2%.
Artificial Intelligence in Drug Discovery Market by Drug Type (Small Molecule, Large Molecule), by Offering (Software, Services), by Technology (Machine Learning, Natural Language Processing, Others), by Application (Endocrinology, Cardiology, Oncology, Neurology, Others), by End-user (Pharmaceutical & Biotechnological Companies, Academic & Research Institutes, Others), by North America (U.S., Canada) Forecast 2025-2033
The global artificial intelligence in drug discovery market size was valued at USD 1.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.2% from 2023 to 2032. Artificial intelligence accelerates research by optimizing experiments, prioritizing high-impact targets and facilitating virtual screening that accelerates both failure and multifaceted testing processes. It has the potential to revolutionize drug development workflows by simplifying tasks, automating processes, minimizing in-process decision making and accelerating real estate. Advances in epitope selection, prediction, and binding tools have greatly accelerated the discovery of new vaccines and other therapeutic agents. However, AI algorithms may lack the nuanced understanding and creative vision of expert scientists. Their limited depth, breadth, and scope may hinder their ability to comprehensively characterize disease. There may also be issues such as incomplete metadata about cell culture conditions or experimental results outside of the experimental results.
Drug Type:
Offering:
Technology:
Application:
End-user:
Industry Developments:
North America holds a significant market share due to the presence of leading AI companies, advanced healthcare infrastructure, and high investment in AI and healthcare technologies. Asia-Pacific is expected to grow rapidly due to increasing investments in AI and healthcare, growing pharmaceutical and biotechnology sectors, and favorable government policies.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 12.2% from 2019-2033 |
Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 12.2%.
Key companies in the market include Microsoft (U.S.), Schrödinger, Inc. (U.S.), Cresset (U.K.), IBM (U.S.), Atomwise Inc. (U.S.), Insilico Medicine (U.S.), Exscientia (U.K.), BenevolentAI (U.K.), Aria Pharmaceuticals, Inc. (U.S.), Integral BioSciences (U.S.), Alphabet Inc. (U.S.).
The market segments include Drug Type, Offering, Technology, Application, End-user.
The market size is estimated to be USD 3.00 USD Billion as of 2022.
Increasing Patient Population with Chronic Diseases to Drive the Adoption Rate of Artificial Intelligence (AI) in Drug Discovery.
Artificial Intelligence-Enabled Biology Modeling and Target Discovery to Drive Market Growth.
Lack of Standardization in Data Quality May Hinder the Implementation of Artificial Intelligence in Drug Discovery Process.
November 2022: Cyclica received a USD 1.8 million grant from the Bill & Melinda Gates Foundation to apply its artificial intelligence-enabled drug discovery platform to discover new non-hormonal contracts, leveraging multiple low-data biological targets.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in 1,000 Units.
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