AI Drug Development Market Trends and Forecast
The future of the global AI drug development market looks promising with opportunities in the tumor and nervous system markets. The global AI drug development market is expected to grow with a CAGR of 32.4% from 2024 to 2030. The major drivers for this market are growing demand for novel therapies and increasing focus on efficiency & affordability in drug development.
• Lucintel forecasts that drug design is expected to witness higher growth over the forecast period.
• Within this market, tumor is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Drug Development Market
• United States: Pfizer collaborated with IBM Watson Health to utilize AI for drug discovery, supported by government funding to accelerate innovation in pharmaceutical research.
• China: Tencent launched an AI drug development platform, aiming to enhance drug discovery efficiency, aligned with government initiatives to strengthen biotech innovation.
• United Kingdom: AstraZeneca partnered with UK universities to integrate AI in drug development, with government support to boost life sciences sector competitiveness.
• India: Biocon announced AI-driven initiatives in drug development, focusing on affordable therapies, supported by government incentives for biotech R&D.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Drug Development Market by Segment
The study includes a forecast for the global AI drug development market by type, application, and region.
AI Drug Development Market by Type [Value from 2018 to 2030]:
• Drug Design
• Drug Synthesis
• Others
AI Drug Development Market by Application [Value from 2018 to 2030]:
• Tumor
• Nervous System
• Others
AI Drug Development Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Drug Development Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI drug development companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI drug development companies profiled in this report include-
• Insilico Medicine
• Cyclica
• XtalPi
• Exscientia Limited
• AiCure
• Atomwise
• Biovista
• Breg
• Numerate
• Cloud Pharmaceuticals
Recent Development in the AI Drug Development Market
• Pfizer: Pfizer has partnered with IBM Watson Health to leverage AI in drug discovery and development processes. This collaboration aims to accelerate the identification of potential drug candidates by integrating AI-driven data analytics and predictive modeling, enhancing efficiency and efficacy in pharmaceutical research.
• Novartis: Novartis has implemented AI-powered platforms to optimize drug development pipelines. Their initiatives focus on using AI for predictive modeling of drug efficacy and safety profiles, aiming to streamline clinical trials and accelerate time-to-market for new therapies, thereby improving patient outcomes.
• Roche: Roche has invested in AI-driven technologies to enhance precision medicine approaches. Their initiatives include integrating AI in genomic data analysis and biomarker discovery, aiming to develop personalized therapies for cancer and other diseases, supported by advancements in computational biology and machine learning.
• BenevolentAI: BenevolentAI utilizes AI algorithms to analyze biomedical data for drug discovery. Their platform identifies novel drug targets and potential treatments by mining vast datasets, aiming to address unmet medical needs and improve therapeutic outcomes through AI-driven insights and predictive modeling.
• GSK (GlaxoSmithKline): GSK has implemented AI technologies to optimize drug design and development processes. Their initiatives include using AI for virtual screening of chemical compounds and predicting drug interactions, aiming to enhance the efficiency and success rate of drug discovery efforts, supported by collaborations with academic institutions and AI startups.
Features of the Global AI Drug Development Market
Market Size Estimates: AI drug development market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: AI drug development market size by type, application, and region in terms of value ($B).
Regional Analysis: AI drug development market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI drug development market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI drug development market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI drug development market?
Answer: The global AI drug development market is expected to grow with a CAGR of 32.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI drug development market?
Answer: The major drivers for this market are growing demand for novel therapies and increasing focus on efficiency & affordability in drug development.
Q3. What are the major segments for AI drug development market?
Answer: The future of the AI drug development market looks promising with opportunities in the tumor and nervous system markets.
Q4. Who are the key AI drug development market companies?
Answer: Some of the key AI drug development companies are as follows:
• Insilico Medicine
• Cyclica
• XtalPi
• Exscientia Limited
• AiCure
• Atomwise
• Biovista
• Breg
• Numerate
• Cloud Pharmaceuticals
Q5. Which AI drug development market segment will be the largest in future?
Answer: Lucintel forecasts that drug design is expected to witness higher growth over the forecast period.
Q6. In AI drug development market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI drug development market by type (drug design, drug synthesis, and others), application (tumor, nervous system, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Drug Development Market, AI Drug Development Market Size, AI Drug Development Market Growth, AI Drug Development Market Analysis, AI Drug Development Market Report, AI Drug Development Market Share, AI Drug Development Market Trends, AI Drug Development Market Forecast, AI Drug Development Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.