The global artificial intelligence in drug discovery market size is expected to reach USD 5,558.0 million by 2029 according to a new study by Polaris Market Research. The report “Artificial Intelligence in Drug Discovery Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Optimization & Repurposing, Preclinical testing, Others); By Therapeutic Area; By Offering; By Technology; By Region; Segment Forecast, 2022 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Artificial Intelligence (AI) uses complex algorithms and machine learning to acquire significant information from huge datasets. For instance, AI uses RNA sequencing data to recognize genes whose expression correlates with a given cellular condition. It employs the most recent advancements in biology to create cutting-edge medicine discovery algorithms. The increase in computer processing power, the development of advanced algorithms, and the availability of large datasets are the main drivers that led to the developments in machine learning.
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Based on application, the global artificial intelligence (AI) in the drug discovery market is clustered into drug optimization & repurposing, preclinical testing, and others. The optimization & repurposing segment accounted for the largest revenue share in the industry as it is economical and demands only Electronic Medical Records (EMR) for medicine repurposing.
Based on therapeutic areas, the global market is classified into oncology, neurodegenerative diseases, cardiovascular disease, metabolic diseases, infectious diseases, and others. The oncology segment accounted for the largest revenue share in 2020 as it deals with the diagnosis and prevention of cancer.
There are some pharmaceutical companies that are focusing on integrating artificial intelligence with medicine discovery and development. For instance, Pfizer associated with IBM Watson Health, an AI platform, to augment their search for immuno-oncology treatments. Sanofi partnered with Exscientia to discover metabolic-disease therapies.
Major participants such as GNS Healthcare, DeepMind, BIOAGE, Atomwise, Euretos, Benevolent AI, OWKIN, Inc., Berg Health, BioSymetrics, Insitro, Cloud Pharmaceuticals, Cyclica, Deep Genomics, Envisagenics, Exscientia, IBM Corporation, Insilico Medicine, NuMedii, Numerate, NVIDIA Corporation, Aria Pharmaceuticals, Inc., Verge Genomics, XtalPi Inc. are some of the key players operating in the global market. The companies in the industry are engaged in collaborations and expansions with several market platform providers to develop medical treatment.
Polaris Market Research has segmented the artificial intelligence in drug discovery market report on the basis of application, therapeutic area, offering, technology, and region:
Artificial Intelligence in Drug Discovery, Application Outlook (Revenue – USD Million, 2017 – 2029)
- Drug Optimization & Repurposing
- Preclinical Testing
Artificial Intelligence in Drug Discovery, Therapeutic Area Outlook (Revenue – USD Million, 2017 – 2029)
- Neurodegenerative Diseases
- Cardiovascular Disease
- Metabolic Diseases
- Infectious Disease
Artificial Intelligence in Drug Discovery, Offering Outlook (Revenue – USD Million, 2017 – 2029)
Artificial Intelligence in Drug Discovery, Technology Outlook (Revenue – USD Million, 2017 – 2029)
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Other Machine Learning Technologies
- Other Technologies
Artificial Intelligence in Drug Discovery, Regional Outlook (Revenue – USD Million, 2017 – 2029)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa