AI in Drug Discovery Market (Offering: Software and Services; Application: Oncology, Infectious Diseases, Neurological Disorders, Rare Diseases, Metabolic Diseases, Cardiovascular Diseases, and Others; Technology: Machine Learning and Other Technologies; Drug Type: Small Molecules and Large Molecules; and End User: Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academics & Research, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global AI in Drug Discovery market gathered revenue around USD 1.0 Billion in 2020 and market is set to grow USD 9.75 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 36.9% during the prediction period 2021 to 2027.

AI in Drug Discovery Market Size 2020 to 2027

Artificial intelligence (AI) is expected to be a lucrative technology in the healthcare industry. The implementation of AI reduces research and development gap in the drug manufacturing process and helps in targeted manufacturing of drugs. Hence, biopharmaceutical companies are turning to AI to enhance market share. This is a major factor fueling the growth of the global AI for drug discovery market.

The increase in pressure on drug manufacturers to reduce drug prices is another factor expected to boost the growth of the global AI for drug discovery market. Shortage of skilled healthcare personnel is likely to accelerate the growth of the global AI for drug discovery market. However, limited awareness, high cost, and technical limitation of AI decision-making is projected to hamper the growth of the global market. Developing countries such as India and China offer significant opportunities in the AI for drug discovery market.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the AI in Drug Discovery market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global AI in Drug Discovery market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Market Scope:

Over the last few years, artificial intelligence (AI) has caught the interest and minds of medical technology practitioners as many firms and major research laboratories have worked to perfect these technologies for clinical use. The first commercialised demonstrations of how AI (also known as deep learning, machine learning, or artificial neural networks) can assist clinicians are now available. These systems can provide a paradigm shift in clinician workflow, increasing productivity while simultaneously improving treatment and patient throughput.

Artificial intelligence in healthcare is booming, and with the limitless possibilities offered by this cutting-edge technology, a slew of business behemoths are investing in healthcare applications. Integration of AI and machine learning tools in drug discovery and development applications could improve healthcare outcomes by increasing drug discovery efficiency, facilitating targeted molecule identification, reducing drug discovery timeframes, and, most importantly, lowering drug development costs for drug manufacturers. Apart from these, a vast number of pharmaceutical firms and entrepreneurs all over the world are launching projects and investing in the creation of AI and machine learning technologies for bettering drug discovery and improving drug development outcomes.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

AI in Drug Discovery market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Oncology to Offer Lucrative Opportunities

Based on application, the global AI in drug discovery market has been categorized into oncology, infectious diseases, neurological disorders, rare diseases, metabolic diseases, cardiovascular diseases, and others. The oncology segment held significant share of the market in 2020. AI already plays a vital role in the early detection of cancer. Moreover, as treatments for cancer may vary for each patient, personalized medicine has proven to be an effective alternative for treating cancer. Artificial intelligence platforms designed to identify genetic mutations help oncologists design effective personalized treatment for patients.

Report Highlights Details
Market Size US$ 9.74 Billion by 2027
Growth Rate CAGR of 36.9% From 2021 to 2027
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2027
Segments Covered Drug Type,Application,End User,Offering,Technology
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Exscientia, GNS Healthcare, Cloud Pharmaceuticals, Inc., Benevolent AI, PathAI, Inc., Berg Health, Atomwise, Insitro, Cyclica, BlackThorn Therapeutics, Insilico Medicine, Notable Labs,  Standigm, Recursion Pharmaceuticals, and BioSymetrics.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the AI in Drug Discovery Market include:   Exscientia, GNS Healthcare, Cloud Pharmaceuticals, Inc., Benevolent AI, PathAI, Inc., Berg Health, Atomwise, Insitro, Cyclica, BlackThorn Therapeutics, Insilico Medicine, Notable Labs, Standigm, Recursion Pharmaceuticals, and BioSymetrics.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Global AI in Drug Discovery Market: Segmentation

  • AI in Drug Discovery Market, by Drug Type
    • Small Molecules
    • Large Molecules
  • AI in Drug Discovery Market, by Application
    • Oncology
    • Infectious Diseases
    • Neurological Disorders
    • Rare Diseases
    • Metabolic Diseases
    • Cardiovascular Diseases
    • Others
  • AI in Drug Discovery Market, by End User
    • Pharmaceutical & Biotechnology Companies
    • Contract Research Organizations
    • Academics & Research
    • Others
  • AI in Drug Discovery Market, by Offering
    • Software
    • Services
  • AI in Drug Discovery Market, by Technology
    • Machine Learning
    • Other Technologies

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the AI in Drug Discovery market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the AI in Drug Discovery market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the AI in Drug Discovery markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in AI in Drug Discovery market Study:

  • Growth of AI in Drug Discovery in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •   Recommendation on Key Winning Strategies
  •   COVID-19 Impact on Demand for AI in Drug Discovery and How to Navigate
  •   Key Product Innovations and Regulatory Climate
  •   AI in Drug Discovery Consumption Analysis
  • AI in Drug Discovery Production Analysis
  •  AI in Drug Discovery and Management