Artificial Intelligence (AI) in Drug Discovery Market Share to expand at 26.8% CAGR through 2028

By Sachin Pashte  | Date: January 03, 2023

Artificial Intelligence (AI) in Drug Discovery Market Share to expand at 26.8% CAGR through 2028

According to industry experts, global Artificial Intelligence (AI) in Drug Discovery Market accounted for USD 780 million in 2021 and is expected to witness a CAGR of 26.8% over the forecast period of 2022-2028.

The expanding manufacturing capabilities of the life science sector and rising demand for the creation of new drug therapies are some of the prime factors propelling the growth of global artificial intelligence (AI) in drug discovery market.

It is important to note that the second wave of COVID-19 wave appeared shortly after the coronavirus started to spread rapidly in 2020. Big businesses adapted different strategies depending on the unprecedented challenges, which had a profound effect on the markets. The already high level of global instability was further increased by the 2022 Russo-Ukrainian War and the UK's hurried exit from the European Union.

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However, given the effectiveness of immunization measures, it is predicted that the global economy will pick up steam & the market will likely recover in the following years.

By components, the market is divided into services, hardware, and software. Based on therapeutic areas, global artificial intelligence (AI) in drug discovery industry is bifurcated into infectious diseases, metabolic diseases, cardiovascular diseases, neurodegenerative diseases, and oncology.

Speaking of technology, the marketplace is segregated into deep learning and machine learning. Moving on to the application spectrum, the market is segmented into preclinical testing, Dr optimization & repurposing, de novo drug designing, candidate screening, and target identification.

From the geographical standpoint, North America market is expected to hold a significant revenue share in the forthcoming years, owing to the surging demand for AI across many businesses, including the pharmaceutical sector, which will speed up medication research, design, and repurposing as well as the investigation of illnesses and the derivation of useful findings that will improve disease management.

GNS Healthcare, Insitro, Euretos, BioSymetrics, BioAge Labs, Cyclica Inc., Exscientia, BenevolentAI, Insilico Medicine, Cloud Pharmaceuticals Inc., Deep Genomics, Atomwise Inc., Google LLC (Alphabet Inc.), The International Business Machines Corporation, and Microsoft Corporation are the leading commercial conglomerates operating in global artificial intelligence (AI) in drug discovery market.

Question & Answer: Global Artificial Intelligence (AI) in Drug Discovery Market

Question 1: Which factors are promoting global artificial intelligence (AI) in drug discovery market growth?

Answer: The expanding manufacturing capabilities of the life science sector and rising demand for the creation of new drug therapies are some of the prime factors propelling the growth of global artificial intelligence (AI) in drug discovery market.

Question 2: How is the North America region contributing to global artificial intelligence (AI) in drug discovery industry growth?

Answer: The surging demand for AI across many businesses, including the pharmaceutical sector, which will speed up medication research, design, and repurposing as well as the investigation of illnesses and the derivation of useful findings that will improve disease management are impelling the demand for artificial intelligence (AI) in drug discovery in North America, thus contributing to overall industry growth.

Question 3: What firms does the competitive landscape of global artificial intelligence (AI) in drug discovery market include?

Answer: GNS Healthcare, Insitro, Euretos, BioSymetrics, BioAge Labs, Cyclica Inc., Exscientia, BenevolentAI, Insilico Medicine, Cloud Pharmaceuticals Inc., Deep Genomics, Atomwise Inc., Google LLC (Alphabet Inc.), The International Business Machines Corporation, and Microsoft Corporation are the leading commercial conglomerates operating in global artificial intelligence (AI) in drug discovery market.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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