Artificial Intelligence in Computational Biology is fastest growing segment fueling the growth of Artificial Intelligence in Drug Discovery Market

Artificial Intelligence in Drug Discovery Market

The global Artificial Intelligence in Drug Discovery Market is estimated to be valued at US$ 1,266.7 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Artificial intelligence in drug discovery uses machine learning and other AI techniques to analyze large and complex chemical and biological data to identify potential drug candidates. This helps researchers screen compounds faster and identify promising candidates at an early stage, reducing costs and time to market.

 

Market key trends:

One of the major trends in the AI drug discovery market is the use of deep learning and machine learning techniques for molecule generation and optimization. Deep learning models are being used to generate novel molecules with desired properties and activities against target proteins. Generative models like Generative Adversarial Networks (GANs) and Variational Autoencoders (VAE) are being actively explored to generate new molecules de novo. Researchers are also developing reinforcement learning models to iteratively modify and enhance compounds towards an optimization goal of higher potency and selectivity. Such AI techniques are expediting the drug design process by generating focused libraries of candidate molecules.

Segment Analysis

The global AI in drug discovery market is dominated by the artificial intelligence in drug design and discovery segment. AI helps in identifying new compounds or drugs with therapeutic effects more accurately and at a much faster pace by simulating how the candidate molecules interact at the atomic level with target proteins or binding sites in the body. AI is particularly useful for target identification and validation, lead optimization, and predictive toxicology.

 

Key Takeaways

The Global Artificial Intelligence in Drug Discovery Market Share was valued at US$ 1,266.7 Mn in 2023 and is expected to grow at a CAGR of 5.7% during the forecast period of 2023-2030. The increasing need to control drug discovery and development costs and reduce the amount of time required for drug discovery are some of the major factors fueling the market growth.

 

The North American region dominates the global AI in drug discovery market and is expected to retain its position over the forecast period. This is attributed to the increased focus of pharmaceutical companies and research institutions on adopting AI-based techniques for drug development in the region. Europe is anticipated to grow at a steady pace owing to favorable government initiatives and funding for drug discovery research.

 

Key players operating in the AI in drug discovery market are IBM Corporation (IBM Watson Health), Exscientia, GNS Healthcare, Alphabet, Inc. (DEEPMIND), Benevolent AI, Biosymetrics, Euretos, Berg LLC., Atomwise, Inc., Insitro, and others. These market players are adopting inorganic growth strategies such as acquisitions, collaborations, and partnerships to strengthen their product portfolio and market position globally.

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