Artificial Intelligence for Drug Discovery Market (By Drug Type: Small Molecule, Large Molecule; By Technology: Deep Learning, Machine Learning; By Application: Metabolic Disease, Cardiovascular Diseases, Oncology, Neurodegenerative Diseases, Others; By End use: Pharmaceutical & Biotechnological Companies, Academic & Research Institutes, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The Global Artificial Intelligence for Drug Discovery Market size is expected to reach around US$ 8,149 Mn by 2026 and is expected to register a CAGR of above 42% over the forecast period 2019 to 2026.

There is constant increase in number of patients suffering from chronic diseases across the globe and pharmaceutical companies are investing high on development of various drugs. Artificial Intelligence is able to assist manufacturers by providing solution to complex situations. AI is providing a new analytical approach for design and development of novel products.

Market Dynamics

Major factors expected to drive the global AI for drug discovery market are increasing number of patients suffering from chronic diseases, flourishing healthcare sector, coupled with manufacturers approach towards lowering the manufacturing cost associated to drug development. In addition, increasing investment by major players in biopharma companies and rising public and private partnerships for R&D activities are other factors expected to boost the growth of the target market. In 2018 GlaxoSmithKline plc a multinational pharmaceutical company invested US$ 300 Mn in 23 and Me a gene testing company. This deal is expected to help the company to access the database related to DNA and also information related to relations between genes and diseases which is further helpful in development of novel product.

Moreover, increasing government spending on development of present infrastructure and rising awareness related to benefits of artificial intelligence in solving complex scenario are among other factors expected to support the growth of the target market. Furthermore, manufacturers approach towards lowering the operating cost of drug discovery is another factor expected to revenue support growth.

However, lock of skilled professional and infrastructure in order to facilitate easy adoption AI is a major factor expected to hamper the growth of the global AI for drug discovery market. In addition, factor such as limited acceptance from healthcare professionals is also expected to limit the adoption of AI thus challenging the growth of market.

Increase in awareness related to artificial intelligence among pharmaceutical manufacturers, approach towards high investment in drug discovery and introduction of novel products are some factors expected to create new opportunities in terms of revenue for players operating in the global artificial intelligence for drug discovery market over the forecast period. In addition, strategic business expansion activities through partnerships and agreements are factors that are expected to revenue support the growth of target market to a certain extent.

Based on Drug type, global artificial intelligence for drug discovery market is segmented into small molecule and large molecule. The small molecule is expected to account for major revenue share due to high complicated process in drug discovery, coupled with AI helps solving complex process with accurate results and in less time

Segment Analysis by Region

The market in North America is expected to contribute significant revenue share in the global artificial intelligence for drug discovery market this can be attributed to availability of developed infrastructure in order to facilitate adoption of AI and presence of major player operating in the countries in this region. In addition, growing awareness related to AI and manufacturers approach towards lowering the cost associated to drug discovery are some other factors expected to support the growth of the target market in this region.

The market in Asia Pacific is expected to witness faster growth due to increasing government spending on development of present infrastructure in order to facilitate the advanced devices for R&D activities. In addition, rising awareness related to AI in pharmaceutical companies is another factor expected to support the growth of the target market in this region.

Competitive Landscape

The competitive scenario of artificial intelligence for drug discovery market is moderate as there is limited number of players operating with AI technology. There is high cost involved in drug discovery and implementation of artificial intelligence increases the cost of end product.

Report coverage

The market research study on “Artificial Intelligence for Drug Discovery  Market (Drug Type: Small Molecule and Large Molecule; Technology: Deep Learning and Machine Learning; Application: Metabolic Disease, Cardiovascular Diseases, Oncology, Neurodegenerative Diseases and others; End Use: Pharmaceutical & Biotechnological Companies, Academic & Research Institutes, and Others)– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”, offers a detailed insights on the global artificial intelligence for drug discovery market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global artificial intelligence for drug discovery market and its segments drug type, technology, application, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global artificial intelligence for drug discovery market size and segment markets by drug type, technology, application, end use, and geography along with the information on companies operating in the market. The artificial intelligence for drug discovery market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report include Atomwise, Inc., Insilico Medicine, BIOAGE, Numerate, NuMedii, Inc., Envisagenics, Cloud Pharmaceuticals, Inc., BenevolentAI, twoXAR, and Exscientia.

Market Segmentation

Market by Drug Type:

• Small Molecule
• Large Molecule

Market by Technology:

• Deep Learning
• Machine Learning

Market by Application:

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

Market by End use:

• Pharmaceutical & Biotechnological Companies
• Academic & Research Institutes
• Others

Market by Region

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest if Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Meddle East & Africa