Global Artificial Intelligence (AI) In Drug Discovery Markets, 2017-2022, 2027F, 2032F: Enhancing Drug Target Selection, Drug Screening Process, & Multi-Omics Data Integration Leading Innovations

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Sep 14, 2023, 06:00 ET

DUBLIN, Sept. 14, 2023 /PRNewswire/ -- The "Artificial Intelligence (AI) In Drug Discovery Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.

The global artificial intelligence (AI) in drug discovery market reached a value of nearly $1,042.3 million in 2022, having grown at a compound annual growth rate (CAGR) of 30.5% since 2017. The market is expected to grow from $1,042.3 million in 2022 to $3,739.2 million in 2027 at a rate of 29.1%. The market is then expected to grow at a CAGR of 25.7% from 2027 and reach $11,729.1 million in 2032.

In the historic period, the artificial intelligence (AI) in drug discovery market witnessed significant growth, driven by emerging markets, the increasing prevalence of chronic diseases, and the adoption of AI for cost-efficient drug discovery.

However, challenges like limited healthcare access in developing nations, a shortage of skilled labor, and the high failure rate of AI projects posed obstacles to growth. Looking ahead, government support, rising healthcare expenditure, and the adoption of cloud-based solutions are expected to fuel market expansion.

Nevertheless, the presence of incompatible health IT infrastructure in some countries may impede future growth. Market trends are favoring strategies such as integrating multi-omics data, using AI in target selection and drug screening, establishing AI innovation labs, and fostering partnerships and collaborations.

Leading players are enhancing operational capabilities through new solution launches and strengthening business operations through strategic partnerships. To seize opportunities, AI in drug discovery companies are advised to focus on key areas, including AI-based drug screening and target selection, expansion in emerging and developed markets, competitive pricing, participation in industry events, B2B promotions, and targeting fast-growing therapeutic areas and end-users.

Segment Highlights

The deep learning market was the largest segment of the artificial intelligence (AI) in drug discovery market segmented by technology, accounting for 33.9% of the total in 2022. Going forward, the deep learning segment is expected to be the fastest growing segment in the artificial intelligence (AI) in drug discovery market segmented by technology, at a CAGR of 29.12% during 2022-2027.

The small molecules market was the largest segment of the artificial intelligence (AI) in drug discovery market segmented by drug type, accounting for 63.2% of the total in 2022. Going forward, the large molecules segment is expected to be the fastest growing segment in the artificial intelligence (AI) in drug discovery market segmented by drug type, at a CAGR of 31.7% during 2022-2027.

The oncology market was the largest segment of the artificial intelligence (AI) in drug discovery market segmented by therapeutic type, accounting for 23.2% of the total in 2022. Going forward, the other therapeutics segment is expected to be the fastest growing segment in the artificial intelligence (AI) in drug discovery market segmented by therapeutic type, at a CAGR of 29.9% during 2022-2027.

The pharmaceutical companies market was the largest segment of the artificial intelligence (AI) in drug discovery market segmented by end user, accounting for 50.2% of the total in 2022. Going forward, the biopharmaceutical companies segment is expected to be the fastest growing segment in the artificial intelligence (AI) in drug discovery market segmented by end user, at a CAGR of 32.4% during 2022-2027.

North America was the largest region in the artificial intelligence (AI) in drug discovery market, accounting for 41.9% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the artificial intelligence (AI) in drug discovery market will be South America and Asia-Pacific where growth will be at CAGRs of 37.6% and X35.8% respectively. These will be followed by Africa and Western Europe where the markets are expected to grow at CAGRs of 32.8% and 31.4% respectively.

Competitive Analysis Highlights

The artificial intelligence (AI) in drug discovery market is highly concentrated, with a large number of small players.

The top ten competitors in the market made up to 79.32% of the total market in 2021. IBM Corporation was the largest competitor with 32.27% share of the market, followed by Microsoft Corporation with 21.25%, NVIDIA Corporation with 11.90%, Exscientia with 3.28%, Alphabet with 2.85%, Atomwise Inc. with 1.89%, Insilico Medicine with 1.87%, Owkin Inc. with 1.66%, Xtalpi Inc with 1.33%, and Cloud Pharmaceuticals with 1.01%.

Opportunity Highlights

The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by technology will arise in the deep learning segment, which will gain $914.6 million of global annual sales by 2027.
The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by drug type will arise in the small molecules segment, which will gain $1,559.8 million of global annual sales by 2027.
The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by therapeutic type will arise in the oncology segment, which will gain $642.2 million of global annual sales by 2027.
The top opportunities in the artificial intelligence (AI) in drug discovery market segmented by end user will arise in the pharmaceutical company's segment, which will gain $1,245.1 million of global annual sales by 2027.
The artificial intelligence (AI) in drug discovery market size will gain the most in the USA at $700.4 million.

A selection of companies mentioned in this report includes

IBM Corporation
Microsoft Corporation
NVIDIA Corporation
Exscientia
Alphabet
Atomwise Inc.

Key Topics Covered:

1. Executive Summary

2. Table Of Contents

3. List Of Figures

4. List Of Tables

5. Report Structure

6. Introduction And Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Artificial Intelligence (AI) In Drug Discovery Market Definition And Segmentations
6.4. Market Segmentation By Technology
6.4.1. Context-Aware Processing
6.4.2. Natural Language Processing
6.4.3. Querying Method
6.4.4. Deep Learning
6.5. Market Segmentation By Drug Type
6.5.1. Small Molecules
6.5.2. Large Molecules
6.6. Market Segmentation By Therapeutic Type
6.6.1. Metabolic Diseases
6.6.2. Cardiovascular Disease
6.6.3. Oncology
6.6.4. Neurodegenerative Diseases
6.6.5. Respiratory Diseases
6.6.6. Anti-Infective Diseases
6.6.7. Other Therapeutics
6.7. Market Segmentation By End-User
6.7.1. Pharmaceutical Companies
6.7.2. Biopharmaceutical Companies
6.7.3. Academic And Research Institutes
6.7.4. Other End-Users

7. Major Market Trends
7.1. Integration of Multi-Omics Data
7.2. Increasing Investments
7.3. Use Of AI In Drug Screening
7.4. Use Of AI In Target Selection
7.5. Introduction Of AI Innovation Labs
7.6. Partnerships And Collaborations

8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2017 - 2022, Value ($ Million)
8.2.1. Market Drivers 2017 - 2022
8.2.2. Market Restraints 2017 - 2022
8.3. Forecast Market Growth, 2022 - 2027, 2032F Value ($ Million)
8.3.1. Market Drivers 2022 - 2027
8.3.2. Market Restraints 2022 - 2027

9. Global Artificial Intelligence (AI) In Drug Discovery Market Segmentation
9.1. Global Artificial Intelligence (AI) In Drug Discovery Market, Segmentation By Technology, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.2. Global Artificial Intelligence (AI) In Drug Discovery Market, Segmentation By Drug Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.3. Global Artificial Intelligence (AI) In Drug Discovery Market, Segmentation By Therapeutic Type, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
9.4. Global Artificial Intelligence (AI) In Drug Discovery Market, Segmentation By End User, Historic And Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)

10. Artificial Intelligence (AI) In Drug Discovery Market, Regional and Country Analysis
10.1. Global Artificial Intelligence (AI) In Drug Discovery Market, By Region, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)
10.2. Global Artificial Intelligence (AI) In Drug Discovery Market, By Country, Historic and Forecast, 2017 - 2022, 2027F, 2032F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/lklrec

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