AI in Drug Discovery Market Size Worth $35.42 Billion by 2034 | CAGR: 29.6%

The AI in drug discovery market size is expected to reach USD 35.42 billion by 2034, according to a new study by Polaris Market Research. The report “AI in Drug Discovery Market Share, Size, Trends, Industry Analysis Report, By Offering (Software, Services), By Technology, By Therapeutic Area, By Application, By End User and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa); Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The AI in drug discovery market is experiencing rapid growth, due to rapid adoption of technological advancements, increasing healthcare needs, and evolving pharmaceutical industry dynamics. The escalating demand for more efficient and cost-effective drug development processes is driving demand for the AI in drug discovery market. Traditional drug discovery methods are often time-consuming and expensive, with high failure rates during clinical trials. AI offers a solution by accelerating the identification of potential drug candidates, predicting their efficacy and safety, and optimizing clinical trial designs. This reduces the time and cost associated with drug development, thus contributing to the market growth. Furthermore, the growing prevalence of chronic diseases and the increasing need for personalized medicine is driving demand for AI in drug discovery solutions. With rising aging population and increasing incidence of conditions such as cancer, diabetes, and cardiovascular diseases rises, there is a growing need for new and more effective therapies. AI technologies, including machine learning and deep learning, are particularly well-suited to analyzing large datasets and identifying patterns that may not be apparent through traditional methods. This capability enables the development of targeted therapies tailored to individual patient profiles, improving treatment outcomes and reducing adverse effects.

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The adoption of AI in drug discovery is being fueled by substantial investments from both private and public sectors. Governments and healthcare organizations worldwide are recognizing the potential of AI to revolutionize the drug discovery process and are investing in research and development initiatives to foster innovation. Moreover, collaborations between AI technology companies and pharmaceutical giants are also on the rise, with partnerships aimed at integrating AI into various stages of drug development. These collaborations are further supported by advancements in computational power, cloud computing, and big data analytics, which provide the necessary infrastructure for AI applications in drug discovery.

Top of FormAI in Drug Discovery Market Report Highlights

• In 2024, the oncology segment accounted for the largest revenue share in the AI in drug discovery market due to the high demand for innovative cancer treatments and the complexity of cancer research, which benefits significantly from AI-driven solutions.
• The pharmaceutical & biotechnology companies segment is anticipated to grow at the fastest CAGR due to their increasing adoption of AI technologies to accelerate drug discovery, reduce development costs, and enhance the precision and efficiency of drug development processes.
• In 2024, North America accounted for the largest market share in the AI in drug discovery market due to its advanced healthcare infrastructure, high levels of investment in AI research, and the presence of major pharmaceutical and biotechnology companies leveraging AI for drug development.
• The Asia Pacific region is expected to grow at the fastest CAGR in the forecast period due to a large and diverse patient population providing valuable data, and supportive government initiatives fostering innovation in drug discovery.
• The global key market players include Atomwise Inc., BenevolentAI, Berg Health (Berg Health acquired by BPGbio Inc.), BioSymetrics, Inc., CYCLICA (Acquired by Recursion Pharmaceuticals), Exscientia, GNS Healthcare (the company Rebranded as Aitia), Google (DeepMind), IBM, Insilico Medicine, insitro.

Polaris Market Research has segmented the AI in drug discovery market report based on offering, technology, therapeutic area, application, end user, and region:

By Offering Outlook (Revenue - USD billion, 2020–2034)

• Software
• Services

By Technology Outlook (Revenue - USD billion, 2020–2034)

• Machine Learning

• Deep Learning
• Supervised Learning
• Reinforcement Learning
• Unsupervised Learning
• Other Machine Learning Technologies

• Other Technologies

By Therapeutic Area Outlook (Revenue - USD billion, 2020–2034)

• Oncology
• Neurodegenerative Diseases
• Cardiovascular Disease
• Metabolic Diseases
• Infectious Disease
• Others

By Application Outlook (Revenue - USD billion, 2020–2034)

• Drug optimization & repurposing
• Preclinical testing
• Others

By End User Outlook (Revenue - USD billion, 2020–2034)

• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Research Centers
• Academic & Government Institutes

    By Regional Outlook (Revenue - USD billion, 2020–2034)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

AI in Drug Discovery Report Scope