AI in Drug Discovery Market Size Anticipated to Reach USD 13.4 billion by 2035

AI in drug discovery market growth is anticipated at a CAGR of 25% during the period 2023-2035

 

According to a recently published report by Roots Analysis, the growing demand for highly efficient drugs to treat diseases has surged the requirement for AI-based tools to speed up the drug discovery process.

Global AI in Drug Discovery Market Overview

The global AI in drug discovery market is anticipated to grow at a CAGR of 25% from 2023-2035, reaching USD 13.4 billion by 2035.

The growth of AI in the drug discovery market is likely to be the result of growing demand for advanced therapeutic medicines to treat a wide range of diseases. In recent years, there has been a rapid surge in chronic diseases that cannot be cured with the existing drugs available in the market. On average, it takes around 10-15 years and around USD 1-2 billion of investment to develop drugs and achieve approval from the FDA. Additionally, experts say that about 90% of the drugs under clinical trials fail to enter the next stage of development. The conventional trial-and-error approach to drug development is tedious, time-consuming, and fraught with several challenges. The major problem arises due to incorrect data collected through conventional approaches. To address these concerns, pharmaceutical companies shifted to artificial intelligence-based tools to analyze large volumes of data in real-time accurately. Artificial intelligence-based tools such as big data analytics, deep learning, and machine learning help to collect data in real-time with seamless accuracy, thereby reducing clinical failures and ensuring safety during the early stages of development. It is worth noting here that over 50% of the aforementioned investment in the last two years predicts a rapid increase in the interest in AI-based tools for drug discovery and development. Considering the ongoing interest and rising adoption of AI in drug discovery, it is anticipated that the market will expand at a steady rate during the forecast period.

The 387 pages report contain detailed Table of Content on “AI in Drug Discovery Market," Drug Discovery Steps, Target Therapeutic Area, and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” here: https://www.rootsanalysis.com/reports/ai-based-drug-discovery-market.html

Market Drivers

Artificial intelligence plays a vital role in analyzing massive amounts of clinical data, enabling researchers to accelerate the drug discovery process. Further, the advanced computation power of the AI-based analytical models allows researchers to handle complex data such as toxicity effects effortlessly. Owing to its ability to analyze drug data, it has become a prominent reason for the widespread adoption of AI tools in drug discovery, which is anticipated to drive the market during the forecast period. The market is further driven by the increasing demand for novel drugs that help to treat a broad range of diseases. Moreover, AI allows the identification of specific biomarkers that support the development of personalized medicine.

Market Restraints

Artificial intelligence-based models rely on quality and quantity data collected from a wide range of sources. However, obtaining high-quality data from diverse databases can be challenging, impeding the drug discovery process. Lack of validation and standardization to ensure the reliability of tools across diverse experimental conditions can be major market restraints hindering the growth of this field. Furthermore, the integration of AI tools with traditional drug discovery methods requires high initial investment, which can be challenging for small market players.

Growth Factors

Several growth factors that are propelling AI in the drug discovery market include regulatory support to encourage pharmaceuticals to utilize AI technologies for drug discovery. Several market players, including research institutions, enter into a collaboration deal to develop AI-based tools and integrate them into the drug discovery process. Artificial intelligence also facilitates virtual screening of the drug candidates and identifies the potential compounds for further development. The increasing usage of AI technology to facilitate drug research and ongoing support from various regulatory bodies become the major growth factors driving the market during the forecast period.

AI in Drug Discovery Market Segments

Based on the drug discovery steps, the AI in drug discovery market is segmented into target identification / validation, hit generation / lead identification and lead optimization.

• Based on the type of drug discovery steps, the market is dominated by lead optimization, capturing 59% of the overall market share by 2035.
• Lead optimization will grow during the forecast period at a higher compounded annual growth rate (CAGR) of 25.1%.

Based on the therapeutic areas, AI in the drug discovery market is segmented into oncological disorders, CNS disorders, infectious diseases, respiratory disorders, cardiovascular disorders, endocrine disorders, gastrointestinal disorders, musculoskeletal disorders, immunological disorders, dermatological disorders, and others.

• Based on the therapeutic areas, AI in drug discovery market is dominated by oncological disorders, capturing 38% of the overall market share by 2035.
• Infectious diseases will grow during the forecast period at a higher compounded annual growth rate (CAGR) of 28.3%.

Based on the key geographical region, the AI in drug discovery market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East and North Africa, and the rest of the world.

• Among various geographical regions, North America is poised to hold a significant share (67%) by 2035.
• In Asia-Pacific, the AI in drug discovery market will grow at a compounded annual growth rate of 25.1% during the forecast period.

Key Companies Profiled

The AI in drug discovery market report also includes detailed profiles of key players (listed below) that offer AI-based solutions and services for drug discovery.

• Aiforia Technologies
• Atomwise
• BioSyntagma
• Chemalive
• Collaborations Pharmaceuticals
• Cyclica
• DeepMatter
• Exscientia
• InveniAI
• MAbSilico
• Optibrium
• Recursion Pharmaceuticals
• Sensyne Health
• Valo Health

You Can Download Free Sample PDF Copy of This Report At:
https://www.rootsanalysis.com/reports/ai-based-drug-discovery-market/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in market research, competitive intelligence and consulting services. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists, and strategic investors for over a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serving our clients in the best possible way.

Contact US
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.comor sales@rootsanalysis.com