Artificial Intelligence In Drug Discovery Global Market to Grow from $1.04 Billion to $2.99 Billion by 2026

News provided by

Aug 16, 2022, 05:45 ET

DUBLIN, Aug. 16, 2022 /PRNewswire/ -- The "Artificial Intelligence (AI) In Drug Discovery Global Market Report 2022, By Technology, By Drug Type, By Therapeutic Type, By End-Users" report has been added to ResearchAndMarkets.com's offering.

The global artificial intelligence (AI) in drug discovery market is expected to grow from $791.83 million in 2021 to $1042.30 million in 2022 at a compound annual growth rate (CAGR) of 31.6%. The market is expected to reach $2994.52 million in 2026 at a CAGR of 30.2%.

The artificial intelligence (AI) in drug discovery market consists of sales of AI for drug discovery and related services. Artificial Intelligence (AI) for drug discovery is a technology that uses a simulation of human intelligence process by machines to tackle complex problems in the drug discovery process. It helps to find new molecules to identify drug targets and develop personalized medicines in the pharmaceutical industry.

The main technologies in artificial intelligence (AI) in drug discovery are deep learning and machine learning. Deep learning is a machine learning and artificial intelligence (AI) technique that mimics how humans acquire knowledge. Data science, which covers statistics and predictive modelling, incorporates deep learning as a key component.

The different drug types include small molecule, large molecules and involves various types of therapies such as metabolic disease, cardiovascular disease, oncology, neurodegenerative diseases, others. It is implemented in several end-users including pharmaceutical companies, biopharmaceutical companies, academic and research institutes, others.

The rise in demand for a reduction in the overall time taken for the drug discovery process is a key driver propelling the growth of the artificial intelligence (AI) in drug discovery market. Traditionally, it takes three to five years for animal models to identify and optimize molecules before they are evaluated in humans whereas start-ups based on AI have been identifying and designing new drugs in a matter of few days or months.

For instance, in 2020, the British start-up Exscientia and Japan's Sumitomo Dainippon Pharma have used artificial intelligence to produce an obsessive-compulsive disorder (OCD) medication, decreasing the development time from four years to less than one year. The reduction in overall time taken for the drug discovery process drives the artificial intelligence (AI) in drug discovery market's growth.

The shortage of skilled professionals is expected to hamper the AI in drug discovery market. The employees have to re-train or learn new skill sets to work efficiently on the complex AI machines to get the desired results for the drug. The shortage of skills acts as a major hindrance to drug discovery through AI, discouraging companies from adopting AI-based machines for drug discovery.

Scope
Markets Covered:
1) By Technology: Deep Learning; Machine Learning
2) By Drug Type: Small Molecule; Large Molecules
3) By Therapeutic Type: Metabolic Disease; Cardiovascular Disease; Oncology; Neurodegenerative Diseases; Others
4) By End-Users: Pharmaceutical Companies; Biopharmaceutical Companies; Academic And Research Institutes; Others

Key Topics Covered:

1. Executive Summary

2. Artificial Intelligence (AI) In Drug Discovery Market Characteristics

3. Artificial Intelligence (AI) In Drug Discovery Market Trends And Strategies

4. Impact Of COVID-19 On Artificial Intelligence (AI) In Drug Discovery

5. Artificial Intelligence (AI) In Drug Discovery Market Size And Growth

6. Artificial Intelligence (AI) In Drug Discovery Market Segmentation

7. Artificial Intelligence (AI) In Drug Discovery Market Regional And Country Analysis

8. Asia-Pacific Artificial Intelligence (AI) In Drug Discovery Market

9. China Artificial Intelligence (AI) In Drug Discovery Market

10. India Artificial Intelligence (AI) In Drug Discovery Market

11. Japan Artificial Intelligence (AI) In Drug Discovery Market

12. Australia Artificial Intelligence (AI) In Drug Discovery Market

13. Indonesia Artificial Intelligence (AI) In Drug Discovery Market

14. South Korea Artificial Intelligence (AI) In Drug Discovery Market

15. Western Europe Artificial Intelligence (AI) In Drug Discovery Market

16. UK Artificial Intelligence (AI) In Drug Discovery Market

17. Germany Artificial Intelligence (AI) In Drug Discovery Market

18. France Artificial Intelligence (AI) In Drug Discovery Market

19. Eastern Europe Artificial Intelligence (AI) In Drug Discovery Market

20. Russia Artificial Intelligence (AI) In Drug Discovery Market

21. North America Artificial Intelligence (AI) In Drug Discovery Market

22. USA Artificial Intelligence (AI) In Drug Discovery Market

23. South America Artificial Intelligence (AI) In Drug Discovery Market

24. Brazil Artificial Intelligence (AI) In Drug Discovery Market

25. Middle East Artificial Intelligence (AI) In Drug Discovery Market

26. Africa Artificial Intelligence (AI) In Drug Discovery Market

27. Artificial Intelligence (AI) In Drug Discovery Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Artificial Intelligence (AI) In Drug Discovery Market

29. Artificial Intelligence (AI) In Drug Discovery Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned