https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-market-105354

Artificial Intelligence (AI) in Drug Discovery Market
Size, Share & Forecast 2023–2032
The AI in drug discovery market is experiencing rapid growth due to the increasing adoption of artificial
intelligence technologies across pharmaceutical and biotechnology industries. AI is being leveraged to
accelerate various stages of drug development, including target identification, compound screening,
drug design, and clinical trial optimization.
The integration of Artificial Intelligence (AI) into drug discovery processes is revolutionizing the
pharmaceutical industry. According to Fortune Business Insights, the global AI in drug discovery market was
valued at USD 3.00 billion in 2022 and is projected to reach USD 7.94 billion by 2030, exhibiting a CAGR of
12.2% during the forecast period. This growth is driven by the increasing need for efficient drug
development processes and the rising prevalence of chronic diseases worldwide.
Top Companies in the Market
 Microsoft (U.S.)
 Schrödinger, Inc. (U.S.)
 Cresset (U.K.)

IBM (U.S.)
 Atomwise Inc. (U.S.)

Insilico Medicine (U.S.)
 Exscientia (U.K.)
 BenevolentAI (U.K.)
 Aria Pharmaceuticals, Inc. (U.S.)

Integral BioSciences (U.S.)
 Alphabet Inc. (U.S.)
Market Trends
 Machine learning (ML) and deep learning are widely used for molecular modeling and
prediction.
 Natural language processing (NLP) helps in analyzing scientific literature and patents.
 The use of generative AI for de novo drug design is emerging.

Investment and startup activity in this space is growing significantly.
Key Industry Development
In November 2022, Cyclica received a USD 1.8 million grant from the Bill & Melinda Gates
Foundation to apply its AI-enabled drug discovery platform to discover new non-hormonal
contraceptives, leveraging multiple low-data biological targets. This initiative underscores the
potential of AI in addressing unmet medical needs through innovative approaches.


Market Drivers & Restraints
Drivers:

Increasing investment by pharmaceutical companies and research institutes in AI
technologies to enhance drug discovery processes.
 Growing prevalence of chronic diseases necessitating the development of novel
therapeutic solutions.
 Advancements in AI algorithms facilitating faster and more accurate identification of
drug candidates.
Restraints:
 High initial investment costs associated with implementing AI technologies.
 Data privacy concerns and regulatory challenges in handling sensitive patient
information.
 Lack of standardized protocols for integrating AI into existing drug discovery workflows.
Market Report Coverage
The report encompasses a comprehensive analysis of the AI in drug discovery market, including:
 Market size and forecast from 2023 to 2030.
 Segmentation by drug type, offering, technology, application, and end-user.

https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-market-105354


https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-market-105354

 Regional insights covering North America, Europe, Asia Pacific, and the rest of the
world.
 Competitive landscape highlighting key players and their strategic initiatives.
Explore the full research report with detailed insights and
TOC:https://www.fortunebusinessinsights.com/artificial-intelligence-in-drug-discovery-
market-105354
Market Competitive Landscape
The AI in drug discovery market is characterized by the presence of several key players focusing
on strategic collaborations, product innovations, and research and development activities to
strengthen their market position. Notable developments include:

In December 2023, Merck KGaA launched AIDDISON, a drug discovery software aimed
at accelerating drug development and increasing the success rate of new drugs.

In September 2023, Merck KGaA partnered with BenevolentAI and Exscientia to
enhance the drug discovery process with a higher probability of success.

In May 2023, Google Cloud introduced two new AI-powered devices to assist
pharmaceutical and biotechnology companies in accelerating drug discovery and
advancing precision medicine.
Market Segments
The market is segmented based on various parameters:
 By Drug Type: Small Molecule and Large Molecule. The small molecule segment is
expected to lead the market during the forecast period.
 By Offering: Software and Services.
 By Technology: Machine Learning, Natural Language Processing, and Others.
 By Application: Endocrinology, Cardiology, Oncology, Neurology, and Others.
 By End-user: Pharmaceutical & Biotechnological Companies, Academic & Research
Institutes, and Others.
Market Regional Insights
North America dominated the AI in drug discovery market with a market share of 69.33% in
2022. The region's growth is attributed to the presence of major pharmaceutical companies,
advanced healthcare infrastructure, and significant investments in AI technologies. Europe and
Asia Pacific are also witnessing substantial growth due to increasing research activities and
government initiatives supporting AI integration in drug discovery.
Future Market Scope
The AI in drug discovery market is poised for significant growth, driven by continuous
technological advancements and increasing demand for efficient drug development processes.
Future prospects include:
 Enhanced collaboration between AI technology providers and pharmaceutical companies
to streamline drug discovery workflows.
 Development of AI models capable of predicting drug efficacy and safety profiles with
higher accuracy.
 Expansion of AI applications into personalized medicine, enabling tailored therapeutic
solutions for individual patients.

Integration of AI with other emerging technologies such as blockchain and Internet of
Things (IoT) to create comprehensive healthcare solutions.
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