Artificial Intelligence (AI) in Drug Discovery Market

Artificial Intelligence (AI) in Drug Discovery Market was accounted at USD 243 Million in 2019 and is estimated to grow at a CAGR of 39.6% during forecast period.

Introduction of the Artificial Intelligence (AI) in Drug Discovery Market Report

The Artificial Intelligence (AI) technology has helped in creating a streamlined, automated approach to drug delivery, find candidate molecules, and predict synthesis routes. AI has become a versatile tool that is being implemented in different stages of drug development, such as identification and validation of drug targets, designing of new drugs, enhancing the R&D efficiency, drug repurposing, aggregating, and analyzing biomedicine information.

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Market Dynamic

Key Drivers and Emerging Trends

Growing need for AI in drug discovery across various industries in order to regulate the cost of the drug discovery and its development is driving the market growth. With the high demand, the number of partnerships has been increased among cross industries. High adoption rate of cloud-based applications and services are further driving the growth of the market. As per the industry journals, the average novel drug discovery and development cost was estimated to USD 2.6 billion. This is mainly due to the narrow development testing funnel, which minimizes the majority of the candidate therapies with the preclinical and phase-1 trail.

The increasing amount of monumental data generated by the molecule screening processes and the preclinical studies is further surging the adoption of artificial intelligence in the drug delivery space. A large amount of data makes the review of the scientific literature a difficult process. Thus, scientists use AI to boost up the screening process and decrease the time needed for studying and identifying drug molecule interactions and histology data. Moreover, the increasing adoption of AI in the drug delivery space to carry out the standard processes such as data mining and customization capabilities of the AI platforms is opening new doors for the growth of the market. The AI algorithm-based models provide accurate analysis of human physiology response comparatively to animal models. Furthermore, AI-based models also help in minimizing the experimental costs and efficient prediction of cross-species differences.

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Offering – Segment Analysis

Based on the offering, the software segment is predicted to dominate the global AI in Drug Discovery market during the forecast period. The less cost and time to market the drug, low failure rate and a large number of software developers for drug discovery is a major factor that is surging the growth of the segment. Moreover, the accelerating demand for the software among the big pharma & biotech companies and research institutes is further energizing the growth of the segment.

Application – Segment Analysis

On the basis of the application, the neurodegenerative diseases segment is expected to grow at a higher CAGR during the forecast period. The ability of AI to discover drugs for complex conditions and the increasing focus of the leading players on offering AI-based platforms for neurological diseases are the two major drivers that are boosting the demand of the segment in the market.

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Regional – Segment Analysis:

Based on the region, North America predicted to hold the largest market share in the global Artificial Intelligence in Drug Discovery market during the forecast period. This region is one of the fastest and largest growing regional market for AI in drug discovery. Countries such as Canada, Mexico, and US, has adopted AI in drug discovery and development at early stage. The prominent AI technology providers such as Google, IBM, Microsoft, NVIDIA, have a strong presence in the US, which is indirectly surging the growth of the market. Furthermore, the well-established pharmaceuticals sector along with the increased attention on R&D & substantial investment are further driving the growth of the market.

Top Market Players

Various notable players operating in the market include Microsoft Corporation, NVIDIA Corporation, IBM Corporation, Google, Atomwise, Inc., Deep Genomics, Cloud Pharmaceuticals, Inc., Insilico Medicine, Benevolentai, and Exscientia, among others. 

Key Developments:

• • In 2020, Atomwise Inc., entered into a partnership with FutuRx, a recognized Israeli-based biotechnology incubator focused on innovative, early-stage therapeutic technologies. This collaboration will serve as the first introduction of Atomwise’s AtomNet platform for AI-based drug discovery to a expanding biotech innovation hub in Israel.
  • In 2019, Microsoft Corporation collaborated with Novartis to combine Microsoft AI technology with Novartis’ deep life sciences expertise to address the challenges in the drug development including research, clinical trials, and other processes.

Segments covered in the Report:

The global Artificial Intelligence (AI) in Drug Discovery market has been segmented on the basis of Offering, Technology, Application, End User and key regions. Based on Offering, the market is segmented into Software and Services. Based on Technology, the market is segmented into Machine Learning and Other Technologies. Based on Application, the market is segmented into Neurodegenerative Diseases, Immuno-oncology, Cardiovascular Disease, Metabolic Diseases and Other Applications. Based on End User, the market is segmented into pharmaceutical & biotechnology companies, contract research organizations, and research centers and academic, & government institutes. 

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Market Segmentation

Global Artificial Intelligence (AI) in Drug Discovery Market by Offering

• • Software
  • Services

Global Artificial Intelligence (AI) in Drug Discovery Market by Technology

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

Global Artificial Intelligence (AI) in Drug Discovery Market by Application

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

Global Artificial Intelligence (AI) in Drug Discovery Market by End User

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

Global Artificial Intelligence (AI) in Drug Discovery Market by Region

• • North America Artificial Intelligence (AI) in Drug Discovery Market (Option 1: As a part of the free 25% customization)
    • North America Artificial Intelligence (AI) in Drug Discovery Market by Offering
    • North America Artificial Intelligence (AI) in Drug Discovery Market by Technology
    • North America Artificial Intelligence (AI) in Drug Discovery Market by Application
    • North America Artificial Intelligence (AI) in Drug Discovery Market by End User
    • US Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Canada Artificial Intelligence (AI) in Drug Discovery Market All-Up
  • Europe Artificial Intelligence (AI) in Drug Discovery Market (Option 2: As a part of the free 25% customization)
    • Europe Artificial Intelligence (AI) in Drug Discovery Market by Offering
    • Europe Artificial Intelligence (AI) in Drug Discovery Market by Technology
    • Europe Artificial Intelligence (AI) in Drug Discovery Market by Application
    • Europe Artificial Intelligence (AI) in Drug Discovery Market by End User
    • UK Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Germany Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • France Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Spain Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Rest of Europe Artificial Intelligence (AI) in Drug Discovery Market All-Up
  • Asia-Pacific Artificial Intelligence (AI) in Drug Discovery Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Artificial Intelligence (AI) in Drug Discovery Market by Offering
    • Asia-Pacific Artificial Intelligence (AI) in Drug Discovery Market by Technology
    • Asia-Pacific Artificial Intelligence (AI) in Drug Discovery Market by Application
    • Asia-Pacific Artificial Intelligence (AI) in Drug Discovery Market by End User
    • China Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • India Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Japan Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Rest of APAC Artificial Intelligence (AI) in Drug Discovery Market All-Up
  • RoW Artificial Intelligence (AI) in Drug Discovery Market (Option 4: As a part of the free 25% customization)
    • RoW Artificial Intelligence (AI) in Drug Discovery Market by Offering
    • RoW Artificial Intelligence (AI) in Drug Discovery Market by Technology
    • RoW Artificial Intelligence (AI) in Drug Discovery Market by Application
    • RoW Artificial Intelligence (AI) in Drug Discovery Market by End User
    • Brazil Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • South Africa Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Saudi Arabia Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • UAE Artificial Intelligence (AI) in Drug Discovery Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Artificial Intelligence (AI) in Drug Discovery Market All-Up

Major Players Operating in the Artificial Intelligence (AI) in Drug Discovery (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft Corporation
  • NVIDIA Corporation
  • IBM Corporation
  • Google
  • Atomwise, Inc.
  • Deep Genomics
  • Cloud Pharmaceuticals, Inc.
  • Insilico Medicine
  • Benevolentai
  • Exscientia