The global Artificial Intelligence (AI) in Drug Discovery Market is projected to reach USD 3,932.87 million by 2027 from USD XX million in 2020, at a CAGR of 40.8% during the forecast period (2021–2027).
Latest added Artificial Intelligence (AI) in Drug Discovery Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Microsoft, NVIDIA Corporation, IBM Corporation, Atomwise, DEEP GENOMICS, Cloud Pharmaceuticals, Insilico Medicine, BenevolentAI Ltd, Exscientia, Cyclica. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
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This report studies the Artificial Intelligence (AI) in Drug Discovery Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Artificial Intelligence (AI) in Drug Discovery Market by companies, region, type and end-use industry.
Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Global Artificial Intelligence (AI) in Drug Discovery Market By Offering (Software, Services), Technology (Machine Learning, Other Technologies), Drug Type (Small Molecule, Large Molecules), Application (Immuno-Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Other Applications), End-User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Research Centres and Academic & Government Institutes), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa), Market Trends and Forecast to 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Artificial Intelligence (AI) in Drug Discovery Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Artificial Intelligence (AI) in Drug Discovery Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the Artificial Intelligence (AI) in Drug Discovery market by headset type (standalone, smartphone enabled and PC-connected),by application (military, education, entertainment and media, retail, real estate and healthcare), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market (Artificial Intelligence (AI) in Drug Discovery market, Artificial Intelligence (AI) in Drug Discovery market share) dynamics? What are the key challenges and business risks in this Artificial Intelligence (AI) in Drug Discovery market?
Q.5. What are the business risks and competitive threats in this Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market, Artificial Intelligence (AI) in Drug Discovery market share) market?
Q.6. What are the emerging trends in this Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market share) market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market share) market?
Q.8. What are the new developments in the Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market share) market? Which companies are leading these developments?
Q.9. Who are the major players in this Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market share) market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this Artificial Intelligence (AI) in Drug Discovery (Artificial Intelligence (AI) in Drug Discovery market share) market and how big of a threat do they pose for loss of market share by material or product substitution?
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The growth of the artificial intelligence in drug discovery market is primarily driven by factors such as the growing number of cross-industry collaborations and partnerships, the increasing need to control drug discovery & development costs and reduce the overall time taken in this process, the rising adoption of cloud-based applications & services, and the impending patent expiry of blockbuster drugs.
On the other hand, a lack of data sets in the field of drug discovery and the inadequate availability of skilled labor are some of the factors challenging the growth of the market.
In this report, the AI in the drug discovery market has been segmented based on offering, technology, application, end-user, and region.
The software segment accounted for the largest share of the AI in the drug discovery market, by type, in 2020
Based on offering, the artificial intelligence in the drug discovery market is segmented into software and services. In 2018, the software segment accounted for a larger market share during the forecast period. Factors such as less cost and time to market the drug, low failure rate, a large number of software developers for drug discovery, and strong demand for the software among big pharma & biotech companies and research institutes are driving the growth of the software segment.
The neurodegenerative diseases segment is expected to grow at the highest CAGR during the forecast period.
Based on the application, the artificial intelligence in the drug discovery market is segmented into neurodegenerative diseases, immuno-oncology, cardiovascular disease, metabolic diseases, and other applications. Neurodegenerative diseases form the fastest-growing application segment, with a highest CAGR during the forecast period. The ability of AI to discover drugs for complex conditions and the emphasis of market players on providing AI-based platforms for neurological diseases are responsible for the fast growth of this application segment.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the AI in the drug discovery market in 2020.
Based on end-user, the AI in the drug discovery market is segmented into pharmaceutical & biotechnology companies, contract research organizations, and research centers and academic, & government institutes. In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share in the AI in the drug discovery market.
North America accounted for the largest share of the AI in the drug discovery market in 2020.
The global AI in the drug discovery market is segmented into four major regions, namely, North America, Europe, APAC, and the Rest of the World. In 2018, North America was the largest and the fastest-growing regional market for AI in drug discovery. North America, which comprises the US, Canada, and Mexico, forms the largest market for AI in drug discovery. These countries have been early adopters of AI technology in drug discovery and development. In the North American market, the US is a major contributor. Also, prominent AI technology providers, such as IBM, Google, Microsoft, NVIDIA, and Intel, are headquartered in the US; their strong presence is a key contributor to market growth. Other drivers include the well-established pharmaceutical industry, high focus on R&D & substantial investment, and the presence of globally leading pharmaceutical companies. These are some of the major factors responsible for the large share and high growth rate of this market.
Key players in the AI in the drug discovery market
The AI in the drug discovery market is a fragmented in nature, with a large number of players, including tier 1, mid-tier companies and startup firms, competing for market shares. The prominent players in the global AI in drug discovery market include IBM Corporation (US), Microsoft (US), and Google (US), NVIDIA Corporation (US), Atomwise, Inc. (US), Deep Genomics (Canada), Cloud Pharmaceuticals (US), Insilico Medicine (US), BenevolentAI (UK), Exscientia (UK), Cyclica (Canada), BIOAGE (US), Numerate (US), NuMedii (US), Envisagenics (US), twoXAR (US), OWKIN, Inc. (US), XtalPi (US), Verge Genomics (US), and BERG LLC (US).
IBM Corporation (US): IBM is among the leading companies in the AI in the drug discovery market. End-users widely use the company’s Watson for cognitive computing and data-driven applications. IBM follows organic as well as inorganic growth strategies to improve its position in the AI in drug discovery and other emerging AI markets.
The company invested ~USD 6 billion to make 15 acquisitions in cognitive, cloud, and security businesses. Also, partnerships and collaborations with AI solution providers/consumers remain an important aspect of the company’s strategy to enhance its footprint in this market.
Scope of the report
The research report categorizes the AI in drug discovery market into the following segments and subsegments:
Artificial Intelligence in Drug Discovery Market, by Offering
Artificial Intelligence in Drug Discovery Market, by Technology
- Machine Learning
- Others Technologies
Artificial Intelligence in Drug Discovery Market, by Application
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Other Applications
Artificial Intelligence in Drug Discovery Market, by End User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Research Centers and Academic & Government Institutes
Artificial Intelligence in Drug Discovery Market, by Region
- North America
- Rest of the World (RoW)
Key Questions Addressed by the Report
- Where will all these developments take the industry in the mid to long-term?
- What types of annual and multi-year partnerships are AI in drug discovery companies exploring?
- Who are the key players in the market, and how intense is the competition?
- Which are the recent contracts and agreements key players have signed?
- What are the recent trends affecting AI in drug discovery market players?
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