The current report will provide a detailed overview of the AI in the drug discovery market. This report analyzes the market trends associated with AI in drug discovery using data from 2020, estimates from 2021, projections of compound annual growth rates through 2028 (i.e., the forecast period 2023-2028), and information about regional markets of AI in drug discovery. This report will highlight the current and future market potential of AI in drug discovery and provide a detailed analysis of the competitive environment. It will cover regulatory scenarios, drivers, restraints and opportunities as well as market projections for 2028 and the market shares held by key market players. The scope of the market in this report is segmented into applications, therapeutic areas and region. The applications of AI in drug discovery are further segmented into preclinical testing, target identification, candidate screening and lead optimization, drug repurposing, De novo Drug Design and others. The AI in drug discovery market is segmented by therapeutic area into the following segments: oncology, neurodegenerative diseases, cardiovascular diseases, metabolic diseases, infectious diseases, and others. This report includes a regional market analysis of AI in drug discovery. The market has been segmented by region into various significant geographies: North America, Europe, Asia-Pacific, and the Rest of the World regions. Detailed analysis of major countries such as the U.S., Germany, the U.K., Italy, France, Japan, China and India will be covered within the chapter focused on regional segmentation. For market estimates, 2022 serves the base year; forecasts are given from 2023-2028. The regional market analysis of AI in drug discovery is also covered in this report. The market has been segmented into various significant geographies, including North America, Europe, Asia-Pacific, and other world regions. Detailed analysis of major countries such as the U.S., Germany, the U.K., Italy, France, Japan, China, and India will be covered within the regional segment. For market estimates, data will be provided for 2022 because of the base year, with estimates for 2023 and forecast value for 2028.
Report Includes
- 49 data tables and 30 additional tables
- An up-to-date overview and industry analysis of the global markets for artificial intelligence (AI) in drug discovery
- Analyses of the global market trends, with historical market revenue data (sales figures) from 2020-2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue forecast for the AI in drug discovery market, and corresponding market share analysis based on application, therapeutic area, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects, and contributions to the overall market
- Understanding of the importance of ESG in the AI in drug discovery market, consumer attitudes, risks and opportunity assessment, and ESG followed practices by top vendor companies
- Discussion of emerging technologies and new developments in the AI in drug discovery market
- Identification of the major and emerging players who are considered as leaders in the AI in drug discovery market, as well as technological means these companies are using to exploit their markets and dominate the market in their fields
- Review of the structure of this industry with respect to company market shares, venture fundings, and recent merger and acquisition (M&A) activities
- Analysis of their company competitive landscape based on recent developments, key financials and segmental revenues, and operational integration
- Detailed company profiles of the leading market players, including Atomwise Inc., BenevolentAI, Insilico Medicine, Exscientia plc, Recursion Pharmaceuticals Inc., and Schrödinger
Table of Contents
Executive Summary
The change AI will bring about in drug discovery will take some time. Despite the stunning results of AI-driven innovations, established pharmaceutical corporations still enjoy a number of benefits. Financial resources, specialized scientific expertise, research and development experience, familiarity with regulations, and teams with well-known commercial and branding identities are a few of these. However, some of the incumbency pillars are already showing signs of early deterioration. Massive fundraising efforts and less costly in vitro work are lowering the financial barriers for new research programmes. The ranks of AI natives, who are gradually mimicking the benefits of giant enterprises, are currently being populated by scientists and medical specialists.
Given the revolutionary potential of this technology, pharma companies need to make plans for a future in which AI is frequently utilized in drug research. The applications are varied, and pharma companies must decide where and how AI may most benefit them. Emerging companies are ramping up quickly and adding significant value. In practice, it entails taking the time necessary to comprehend the whole impact that AI is having on R&D, which involves separating hype from genuine achievement and realizing the distinction between standalone software solutions and end-to-end AI-enabled drug development.
The increasing prevalence of chronic diseases is boosting the already growing demand for AI in the drug discovery market. Chronic disease affects hundreds of million patients globally. Approximately 45% of Americas, or 133 million people, suffer from one or more chronic healthcare conditions. Similarly, in Europe, nearly 60 million people have more than one chronic disease. Chronic disease prevalence is expected to rise rapidly in the forecast period (2023-2028), and this is expected to create a significant burden on global healthcare.
Similarly, inorganic strategies amongst market players are also boosting the AI in drug discovery market. For instance, BioNTech SE, a German company that focuses on developing vaccines for infectious diseases as well as cancer medicines such as personalized immunotherapy, acquired InstaDeep, the U.K. based AI start-up engaged in developing a system for making decisions that is intended to train employees and guarantee talent retention. BioNTech acquired InstaDeep for $683 million, and this enabled it to take advantage of the firm’s AI-driven decision-making tools to enhance its own drug discovery and production procedures. This acquisition involves creating personalized cancer vaccines, for which BioNTech and the U.K. government initiated clinical trials on January 6, 2023.
The other vital driving factors are innovation, technological advancements, adoption of AI technologies in pharma industries, and cross-industry collaborations and mergers; these are anticipated to increase the demand for AI in drug discovery during the forecast period. However, limitations associated with AI in drug discovery and shortage of AI workforce will likely impede market growth during the forecast period.
Major players in the AI in the drug discovery markets include Atomwise Inc., BenevolentAI, Exscientia, Insilico Medicine, Recursion Pharmaceuticals and many others. All the major and emerging players are offering a wide range of AI offerings for various therapeutic areas.
Companies Mentioned
- Aria Pharmaceuticals Inc.
- Atomwise Inc.
- Benevolentai
- Exscientia plc
- Insilico Medicine
- Recursion Pharmaceuticals Inc.
- Relay Therapeutics Inc.
- Schrodinger Inc.
- Xtalpi Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 172 |
| Published | August 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 1.6 Billion |
| Forecasted Market Value ( USD | $ 5.75 Billion |
| Compound Annual Growth Rate | 29.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
