Artificial Intelligence (AI) in Drug Discovery Market by Component (Software, Service), Technology (ML, DL), Application (Neurodegenerative Diseases, Immuno-Oncology, CVD), End User (Pharmaceutical & Biotechnology, CRO), Region - Global forecast to 2024
[155 Pages Report] The global AI in drug discovery market is projected to reach USD 1,434 million by 2024 from USD 259 million in 2019, at a CAGR of 40.8% during the forecast period (20192024). The growth of the artificial intelligence in drug discovery market is primarily driven by factors such as the growing number of cross-industry collaborations and partnerships, the increasing need to control drug discovery & development costs and reduce the overall time taken in this process, the rising adoption of cloud-based applications & services, and the impending patent expiry of blockbuster drugs.
On the other hand, a lack of data sets in the field of drug discovery and the inadequate availability of skilled labor are some of the factors challenging the growth of the market.
In this report, the AI in the drug discovery market has been segmented based on offering, technology, application, end-user, and region.
The software segment accounted for the largest share of the AI in the drug discovery market, by type, in 2019
Based on offering, the artificial intelligence in the drug discovery market is segmented into software and services. In 2018, the software segment accounted for a larger market share during the forecast period. Factors such as less cost and time to market the drug, low failure rate, a large number of software developers for drug discovery, and strong demand for the software among big pharma & biotech companies and research institutes are driving the growth of the software segment.
The neurodegenerative diseases segment is expected to grow at the highest CAGR during the forecast period.
Based on the application, the artificial intelligence in the drug discovery market is segmented into neurodegenerative diseases, immuno-oncology, cardiovascular disease, metabolic diseases, and other applications. Neurodegenerative diseases form the fastest-growing application segment, with a highest CAGR during the forecast period. The ability of AI to discover drugs for complex conditions and the emphasis of market players on providing AI-based platforms for neurological diseases are responsible for the fast growth of this application segment.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the AI in the drug discovery market in 2019.
Based on end-user, the AI in the drug discovery market is segmented into pharmaceutical & biotechnology companies, contract research organizations, and research centers and academic, & government institutes. In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share in the AI in the drug discovery market.
North America accounted for the largest share of the AI in the drug discovery market in 2019.
The global AI in the drug discovery market is segmented into four major regions, namely, North America, Europe, APAC, and the Rest of the World. In 2018, North America was the largest and the fastest-growing regional market for AI in drug discovery. North America, which comprises the US, Canada, and Mexico, forms the largest market for AI in drug discovery. These countries have been early adopters of AI technology in drug discovery and development. In the North American market, the US is a major contributor. Also, prominent AI technology providers, such as IBM, Google, Microsoft, NVIDIA, and Intel, are headquartered in the US; their strong presence is a key contributor to market growth. Other drivers include the well-established pharmaceutical industry, high focus on R&D & substantial investment, and the presence of globally leading pharmaceutical companies. These are some of the major factors responsible for the large share and high growth rate of this market.
Key players in the AI in the drug discovery market
The AI in the drug discovery market is a fragmented in nature, with a large number of players, including tier 1, mid-tier companies and startup firms, competing for market shares. The prominent players in the global AI in drug discovery market include IBM Corporation (US), Microsoft (US), and Google (US), NVIDIA Corporation (US), Atomwise, Inc. (US), Deep Genomics (Canada), Cloud Pharmaceuticals (US), Insilico Medicine (US), BenevolentAI (UK), Exscientia (UK), Cyclica (Canada), BIOAGE (US), Numerate (US), NuMedii (US), Envisagenics (US), twoXAR (US), OWKIN, Inc. (US), XtalPi (US), Verge Genomics (US), and BERG LLC (US).
IBM Corporation (US): IBM is among the leading companies in the AI in the drug discovery market. End-users widely use the company's Watson for cognitive computing and data-driven applications. IBM follows organic as well as inorganic growth strategies to improve its position in the AI in drug discovery and other emerging AI markets.
The company invested ~USD 6 billion to make 15 acquisitions in cognitive, cloud, and security businesses. Also, partnerships and collaborations with AI solution providers/consumers remain an important aspect of the companys strategy to enhance its footprint in this market.
Scope of the report
|
Report Metric |
Details |
|
Market Size Available for Years |
20172024 |
|
Base Year Considered |
2018 |
|
Forecast Period |
20192024 |
|
Forecast Units |
Value (USD) |
|
Segments Covered |
Offering, Technology, Application, End-User, And Region |
|
Geographies Covered |
North America (US, Canada, Mexico), Europe (Germany, UK, France, and RoE), APAC (Japan, China, India and Rest of the APAC), and the Rest of the World |
|
Companies Covered |
IBM Corporation (US), Microsoft (US), Google (US), NVIDIA Corporation (US), Atomwise, Inc. (US), Deep Genomics (Canada), Cloud Pharmaceuticals (US), Insilico Medicine (US), Benevolent AI (UK), Exscientia (UK), Cyclica (Canada), BIOAGE (US), Numerate (US), Numedii (US), Envisagenics (US), twoXAR (US), OWKIN, Inc. (US), XtalPi (US), Verge Genomics (US), and Berg LLC (US) |
The research report categorizes the AI in drug discovery market into the following segments and subsegments:
Artificial Intelligence in Drug Discovery Market, by Offering
- Software
- Services
Artificial Intelligence in Drug Discovery Market, by Technology
- Machine Learning
- Deep Learning
- Supervised Learning
- Reinforcement Learning
- Unsupervised Learning
- Other Machine Learning Technlogies
- Others Technologies
Artificial Intelligence in Drug Discovery Market, by Application
- Immuno-oncology
- Neurodegenerative Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Other Applications
Artificial Intelligence in Drug Discovery Market, by End User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Research Centers and Academic & Government Institutes
Artificial Intelligence in Drug Discovery Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe (RoE)
- APAC
- Japan
- China
- India
- Rest of the APAC
- Rest of the World (RoW)
Key Questions Addressed by the Report
- Where will all these developments take the industry in the mid to long-term?
- What types of annual and multi-year partnerships are AI in drug discovery companies exploring?
- Who are the key players in the market, and how intense is the competition?
- Which are the recent contracts and agreements key players have signed?
- What are the recent trends affecting AI in drug discovery market players?
Frequently Asked Questions (FAQ):
Which type of product offering holds the largest share of the AI in Drug Discovery Market?
On the basis of offering, the AI in drug discovery market is segmented into software and services. In 2018, the software segment accounted for the largest market share of the market. Factors such as less cost and time to market the drug, low failure rate, a large number of software developers for drug discovery, and strong demand for the software among big pharma & biotech companies and research institutes are driving the growth of the software segment.
Which type of technology is widely adopted for AI based drug discovery?
The artificial intelligence in drug discovery market is segmented into machine learning and other technologies (context-aware computing and natural language processing). The machine learning segment dominated this market in 2018, as pharmaceutical companies, CROs, and biotechnology companies have widely adopted machine learning for drug discovery applications. This is because machine learning has the capability to extract insights from data sets, which helps accelerate the drug discovery process.
Which is the major application segment in the global AI in drug discovery market?
On the basis of application, the AI in drug discovery market is segmented into neurodegenerative diseases, immuno-oncology, cardiovascular diseases, metabolic diseases, and other applications. The immuno-oncology segment accounted for the largest share of the AI in drug discovery market in 2018, owing to the increasing demand for effective cancer drugs.
Which is the major end user for the global AI in drug discovery market?
On the basis of end user, the AI in drug discovery market is segmented into pharmaceutical & biotechnology companies, contract research organizations, and research centers and academic & government institutes. In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share of the AI in drug discovery market. The strong demand for AI-based tools in making the entire drug discovery process more time and cost-efficient is driving the growth of this end-user segment.
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Table of Contents
1 Introduction (Page No. - 17)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.1.1 Secondary Sources
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary (Page No. - 30)
4 Premium Insights (Page No. - 35)
4.1 Market Overview
4.2 Market, By Offering (20192024)
4.3 Market for Machine Learning, By Type & Region (2018)
4.4 Market: Geographic Growth Opportunities
5 Market Overview (Page No. - 39)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Growing Number of Cross-Industry Collaborations and Partnerships
5.2.1.2 Need to Control Drug Discovery & Development Costs and Reduce Time
5.2.1.3 Patent Expiry
5.2.2 Market Opportunities
5.2.2.1 Growing Biotechnology Industry
5.2.2.2 Emerging Markets
5.2.3 Market Challenges
5.2.3.1 Limited Availability of Data Sets
6 Artificial Intelligence In Drug Discovery Market, By Offering (Page No. - 43)
6.1 Introduction
6.2 Software
6.2.1 Benefits Offered By Software in Drug Discovery & Strong Demand Among End Users are Driving Market Growth
6.3 Services
6.3.1 Services Segment to Witness the Highest Growth During the Forecast Period
7 Artificial Intelligence In Drug Discovery Market, By Technology (Page No. - 48)
7.1 Introduction
7.2 Machine Learning
7.2.1 Increasing Adoption of Ml By Research Centers & Pharmaceutical Companies to Support the Growth of This Segment
7.2.2 Deep Learning
7.2.3 Supervised Learning
7.2.4 Reinforcement Learning
7.2.5 Unsupervised Learning
7.2.6 Other Machine Learning Technologies
7.3 Other Technologies
8 Artificial Intelligence In Drug Discovery Market, By Application (Page No. - 63)
8.1 Introduction
8.2 Immuno-Oncology
8.2.1 High Prevalence of Cancer and Shortage in the Supply of Cancer Drugs are the Key Factors Driving Market Growth
8.3 Neurodegenerative Diseases
8.3.1 AI is Being Used to Resolve Existing Challenges in Neurological Disease Drug Development
8.4 Cardiovascular Disease
8.4.1 Rising Demand for Cvd Drugs is Driving Market Growth
8.5 Metabolic Diseases
8.5.1 Role of AI in Uncovering Small-Molecule Therapies is Driving Its Adoption in This Segment
8.6 Other Applications
9 Artificial Intelligence In Drug Discovery Market, By End User (Page No. - 74)
9.1 Introduction
9.2 Pharmaceutical & Biotechnology Companies
9.2.1 Rising Demand for Solutions to Cut Time and Costs of Drug Development have Drawn End-User Attention to AI
9.3 Contract Research Organizations
9.3.1 Growing Trend of Outsourcing Provides Significant Opportunities for Cros
9.4 Research Centers and Academic & Government Institutes
9.4.1 This Segment is Expected to Grow at the Highest CAGR During the Forecast Period
10 Artificial Intelligence In Drug Discovery Market, By Region (Page No. - 82)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Strong Economy and Trend of Early Adoption of Technologies are Driving Market Growth in the US
10.2.2 Canada
10.2.2.1 Growing Research on AI Technologies and Emergence of New Ai-Based Start-UPS Will Support the Market in Canada
10.2.3 Mexico
10.2.3.1 Government Initiatives Will Support Market Growth in Mexico
10.3 Europe
10.3.1 UK
10.3.1.1 The UK Holds the Largest Share of the European Market
10.3.2 Germany
10.3.2.1 Government Support and Favorable Training Programs are Major Market Drivers in Germany
10.3.3 France
10.3.3.1 Strong Government Support and Favorable Strategies & Initiatives Form Key Drivers of the Market in France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.1.1 Japan Dominates the APAC Market for AI in Drug Discovery
10.4.2 China
10.4.2.1 Growing Cmos Market and Cross-Industry Collaborations are Factors Responsible for the Growth of the Market in China
10.4.3 India
10.4.3.1 Steady Adoption of AI Technologies Will Drive Market Growth in India
10.4.4 Rest of Asia Pacific
10.5 Rest of the World
11 Competitive Landscape (Page No. - 114)
11.1 Overview
11.2 Market Share Analysis
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Situation and Trends
11.4.1 Product Launches and Enhancements
11.4.2 Expansions
11.4.3 Acquisitions
11.4.4 Other Strategies
12 Company Profiles (Page No. - 121)
(Business Overview, Products Offered, Recent Developments, MnM View)*
12.1 Microsoft Corporation
12.2 NVIDIA Corporation
12.3 IBM Corporation
12.4 Google (A Subsidiary of Alphabet Inc.)
12.5 Atomwise, Inc.
12.6 Deep Genomics
12.7 Cloud Pharmaceuticals, Inc.
12.8 Insilico Medicine
12.9 Benevolentai
12.10 Exscientia
12.11 Cyclica
12.12 Bioage
12.13 Numerate
12.14 Numedii, Inc.
12.15 Envisagenics
12.16 Twoxar, Incorporated
12.17 Owkin, Inc.
12.18 Xtalpi, Inc.
12.19 Verge Genomics
12.20 Berg LLC
*Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 149)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
List of Tables (150 Tables)
Table 1 Indicative List of Collaborations and Partnerships (20172019)
Table 2 Indicative List of Drugs Losing Patent in 2019
Table 3 Artificial Intelligence in Drug Discovery Market, By Offering, 20172024 (USD Million)
Table 4 Market for Software, By Region, 20172024 (USD Million)
Table 5 North America: Market for Software, By Country, 20172024 (USD Million)
Table 6 Europe: Market for Software, By Country, 20172024 (USD Million)
Table 7 APAC: Market for Software, By Country, 20172024 (USD Million)
Table 8 Market for Services, By Region, 20172024 (USD Million)
Table 9 North America: Market for Services, By Country, 20172024 (USD Million)
Table 10 Europe: Market for Services, By Country, 20172024 (USD Million)
Table 11 APAC: Market for Services, By Country, 20172024 (USD Million)
Table 12 Market, By Technology, 20172024 (USD Million)
Table 13 Market for Machine Learning, By Type, 20172024 (USD Million)
Table 14 Market for Machine Learning, By Region, 20172024 (USD Million)
Table 15 North America: Market for Machine Learning, By Country, 20172024 (USD Million)
Table 16 Europe: Market for Machine Learning, By Country, 20172024 (USD Million)
Table 17 APAC: Market for Machine Learning, By Country, 20172024 (USD Million)
Table 18 Market for Deep Learning, By Region, 20172024 (USD Million)
Table 19 North America: Market for Deep Learning, By Country, 20172024 (USD Million)
Table 20 Europe: Market for Deep Learning, By Country, 20172024 (USD Million)
Table 21 APAC: Market for Deep Learning, By Country, 20172024 (USD Million)
Table 22 Market for Supervised Learning, By Region, 20172024 (USD Million)
Table 23 North America: Market for Supervised Learning, By Country, 20172024 (USD Million)
Table 24 Europe: Market for Supervised Learning, By Country, 20172024 (USD Million)
Table 25 APAC: Market for Supervised Learning, By Country, 20172024 (USD Million)
Table 26 Market for Reinforcement Learning, By Region, 20172024 (USD Million)
Table 27 North America: Artificial Intelligence in Drug Discovery Market for Reinforcement Learning, By Country, 20172024 (USD Million)
Table 28 Europe: Market for Reinforcement Learning, By Country, 20172024 (USD Million)
Table 29 APAC: Market for Reinforcement Learning, By Country, 20172024 (USD Million)
Table 30 Market for Unsupervised Learning, By Region, 20172024 (USD Million)
Table 31 North America: Market for Unsupervised Learning, By Country, 20172024 (USD Million)
Table 32 Europe: Market for Unsupervised Learning, By Country, 20172024 (USD Million)
Table 33 APAC: Market for Unsupervised Learning, By Country, 20172024 (USD Million)
Table 34 Market for Other Machine Learning Technologies, By Region, 20172024 (USD Million)
Table 35 North America: Market for Other Machine Learning Technologies, By Country, 20172024 (USD Million)
Table 36 Europe: Market for Other Machine Learning Technologies, By Country, 20172024 (USD Million)
Table 37 APAC: Market for Other Machine Learning Technologies, By Country, 20172024 (USD Million)
Table 38 Market for Other Technologies, By Region, 20172024 (USD Million)
Table 39 North America: Market for Other Technologies, By Country, 20172024 (USD Million)
Table 40 Europe: Market for Other Technologies, By Country, 20172024 (USD Million)
Table 41 APAC: Market for Other Technologies, By Country, 20172024 (USD Million)
Table 42 Market, By Application, 20172024 (USD Million)
Table 43 Indicative List of Initiatives in Immuno-Oncology Drug Development
Table 44 Market for Immuno-Oncology, By Region, 20172024 (USD Million)
Table 45 North America: Market for Immuno-Oncology, By Country, 20172024 (USD Million)
Table 46 Europe: Market for Immuno-Oncology, By Country, 20172024 (USD Million)
Table 47 APAC: Market for Immuno-Oncology, By Country, 20172024 (USD Million)
Table 48 Market for Neurodegenerative Diseases, By Region, 20172024 (USD Million)
Table 49 North America: Market for Neurodegenerative Diseases, By Country, 20172024 (USD Million)
Table 50 Europe: Artificial Intelligence in Drug Discovery Market for Neurodegenerative Diseases, By Country, 20172024 (USD Million)
Table 51 APAC: Market for Neurodegenerative Diseases, By Country, 20172024 (USD Million)
Table 52 Indicative List of Developments in Cardiovascular Drug Development
Table 53 Market for Cardiovascular Diseases, By Region, 20172024 (USD Million)
Table 54 North America: Market for Cardiovascular Diseases, By Country, 20172024 (USD Million)
Table 55 Europe: Market for Cardiovascular Diseases, By Country, 20172024 (USD Million)
Table 56 APAC: Market for Cardiovascular Diseases, By Country, 20172024 (USD Million)
Table 57 Market for Metabolic Diseases, By Region, 20172024 (USD Million)
Table 58 North America: Market for Metabolic Diseases, By Country, 20172024 (USD Million)
Table 59 Europe: Market for Metabolic Diseases, By Country, 20172024 (USD Million)
Table 60 APAC: Market for Metabolic Diseases, By Country, 20172024 (USD Million)
Table 61 Market for Other Applications, By Region, 20172024 (USD Million)
Table 62 North America: Market for Other Applications, By Country, 20172024 (USD Million)
Table 63 Europe: Market for Other Applications, By Country, 20172024 (USD Million)
Table 64 APAC: Market for Other Applications, By Country, 20172024 (USD Million)
Table 65 Market, By End User, 20172024 (USD Million)
Table 66 Indicative List of Developments
Table 67 Market for Pharmaceutical & Biotechnology Companies, By Region, 20172024 (USD Million)
Table 68 North America: Market for Pharmaceutical & Biotechnology Companies, By Country, 20172024 (USD Million)
Table 69 Europe: Market for Pharmaceutical & Biotechnology Companies, By Country, 20172024 (USD Million)
Table 70 APAC: Artificial Intelligence in Drug Discovery Market for Pharmaceutical & Biotechnology Companies, By Country, 20172024 (USD Million)
Table 71 Indicative List of Collaborations With Cros
Table 72 Market for Contract Research Organizations, By Region, 20172024 (USD Million)
Table 73 North America: Market for Contract Research Organizations, By Country, 20172024 (USD Million)
Table 74 Europe: Market for Contract Research Organizations, By Country, 20172024 (USD Million)
Table 75 APAC: Market for Contract Research Organizations, By Country, 20172024 (USD Million)
Table 76 Indicative List of Research Collaborations
Table 77 Market for Research Centers and Academic & Government Institutes, By Region, 20172024 (USD Million)
Table 78 North America: Market for Research Centers and Academic & Government Institutes, 20172024 (USD Million)
Table 79 Europe: Market for Research Centers and Academic & Government Institutes, 20172024 (USD Million)
Table 80 APAC: Market for Research Centers and Academic & Government Institutes, 20172024 (USD Million)
Table 81 Market, By Region, 20172024 (USD Million)
Table 82 North America: Market, By Country, 20172024 (USD Million)
Table 83 North America: Market, By Offering, 20172024 (USD Million)
Table 84 North America: Market, By Technology, 20172024 (USD Million)
Table 85 North America: Market, By Application, 20172024 (USD Million)
Table 86 North America: Market, By End User, 20172024 (USD Million)
Table 87 Indicative List of Strategic Developments
Table 88 US: Market, By Offering, 20172024 (USD Million)
Table 89 US: Market, By Technology, 20172024 (USD Million)
Table 90 US: Market, By Application, 20172024 (USD Million)
Table 91 US: Market, By End User, 20172024 (USD Million)
Table 92 Canada: Market, By Offering, 20172024 (USD Million)
Table 93 Canada: Market, By Technology, 20172024 (USD Million)
Table 94 Canada: Market, By Application, 20172024 (USD Million)
Table 95 Canada: Market, By End User, 20172024 (USD Million)
Table 96 Mexico: Market, By Offering, 20172024 (USD Million)
Table 97 Mexico: Market, By Technology, 20172024 (USD Million)
Table 98 Mexico: Market, By Application, 20172024 (USD Million)
Table 99 Mexico: Market, By End User, 20172024 (USD Million)
Table 100 Europe: Market, By Country, 20172024 (USD Million)
Table 101 Europe: Market, By Offering, 20172024 (USD Million)
Table 102 Europe: Market, By Technology, 20172024 (USD Million)
Table 103 Europe: Market, By Application, 20172024 (USD Million)
Table 104 Europe: Market, By End User, 20172024 (USD Million)
Table 105 Indicative List of Strategic Developments
Table 106 UK: Market, By Offering, 20172024 (USD Million)
Table 107 UK: Artificial Intelligence in Drug Discovery Market, By Technology, 20172024 (USD Million)
Table 108 UK: Market, By Application, 20172024 (USD Million)
Table 109 UK: Market, By End User, 20172024 (USD Million)
Table 110 Germany: Market, By Offering, 20172024 (USD Million)
Table 111 Germany: Market, By Technology, 20172024 (USD Million)
Table 112 Germany: Market, By Application, 20172024 (USD Million)
Table 113 Germany: Market, By End User, 20172024 (USD Million)
Table 114 France: Market, By Offering, 20172024 (USD Million)
Table 115 France: Market, By Technology, 20172024 (USD Million)
Table 116 France: Market, By Application, 20172024 (USD Million)
Table 117 France: Market, By End User, 20172024 (USD Million)
Table 118 RoE: Market, By Offering, 20172024 (USD Million)
Table 119 RoE: Market, By Technology, 20172024 (USD Million)
Table 120 RoE: Market, By Application, 20172024 (USD Million)
Table 121 RoE: Market, By End User, 20172024 (USD Million)
Table 122 APAC: Market, By Country, 20172024 (USD Million)
Table 123 APAC: Market, By Offering, 20172024 (USD Million)
Table 124 APAC: Market, By Technology, 20172024 (USD Million)
Table 125 APAC: Market, By Application, 20172024 (USD Million)
Table 126 APAC: Market, By End User, 20172024 (USD Million)
Table 127 Japan: Market, By Offering, 20172024 (USD Million)
Table 128 Japan: Market, By Technology, 20172024 (USD Million)
Table 129 Japan: Market, By Application, 20172024 (USD Million)
Table 130 Japan: Market, By End User, 20172024 (USD Million)
Table 131 China: Market, By Offering, 20172024 (USD Million)
Table 132 China: Artificial Intelligence in Drug Discovery Market, By Technology, 20172024 (USD Million)
Table 133 China: Market, By Application, 20172024 (USD Million)
Table 134 China: Market, By End User, 20172024 (USD Million)
Table 135 India: Market, By Offering, 20172024 (USD Million)
Table 136 India: Market, By Technology, 20172024 (USD Million)
Table 137 India: Market, By Application, 20172024 (USD Million)
Table 138 India: Market, By End User, 20172024 (USD Million)
Table 139 RoAPAC: Market, By Offering, 20172024 (USD Million)
Table 140 RoAPAC: Market, By Technology, 20172024 (USD Million)
Table 141 RoAPAC: Market, By Application, 20172024 (USD Million)
Table 142 RoAPAC: Market, By End User, 20172024 (USD Million)
Table 143 RoW: Market, By Offering, 20172024 (USD Million)
Table 144 RoW: Market, By Technology, 20172024 (USD Million)
Table 145 RoW: Artificial Intelligence in Drug Discovery Market, By Application, 20172024 (USD Million)
Table 146 RoW: Market, By End User, 20172024 (USD Million)
Table 147 Product Launches and Enhancements, 20162019
Table 148 Expansions, 20162019
Table 149 Acquisitions, 20162019
Table 150 Other Strategies, 20162019
List of Figures (26 Figures)
Figure 1 Artificial Intelligence in Drug Discovery: Market Segmentation
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Market, By Offering, 2019 vs 2024 (USD Million)
Figure 8 Market for Machine Learning, By Type, 20192024
Figure 9 Artificial Learning in Drug Discovery Market, By Application, 2019 vs 2024 (USD Million)
Figure 10 Artificial Learning in Drug Discovery Market, By End User, 2019 vs 2024 (USD Million)
Figure 11 Geographical Snapshot of the Artificial Intelligence in Drug Discovery Market
Figure 12 Need to Control Drug Discovery & Development Costs is A Major Factor Driving the Adoption of AI in Drug Discovery Solutions
Figure 13 Services Segment to Witness the Highest Growth During the Forecast Period
Figure 14 Deep Learning Segment Accounted for the Largest Market Share in 2018
Figure 15 North America is the Fastest-Growing Regional Market for AI in Drug Discovery
Figure 16 Market: Drivers, Opportunities, and Challenges
Figure 17 North America: Market Snapshot
Figure 18 Europe: Market Snapshot
Figure 19 Key Players Adopted Organic as Well as Inorganic Growth Strategies
Figure 20 Market Evolution Framework
Figure 21 AI in Drug Discovery Market Share Analysis, By Key Player, 2018
Figure 22 Competitive Leadership Mapping of the AI in Drug Discovery Market
Figure 23 Microsoft Corporation: Company Snapshot
Figure 24 NVIDIA Corporation: Company Snapshot
Figure 25 IBM Corporation: Company Snapshot
Figure 26 Alphabet: Company Snapshot
The study involved four major activities in estimating the current size of the global AI in drug discovery market. Exhaustive secondary research was conducted to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary research was mainly used to identify and collect information for the extensive, technical, market-oriented, and commercial study of the AI in drug discovery market. Secondary sources include directories; databases such as Bloomberg Businessweek, Factiva, and Wall Street Journal; white papers; and annual reports that were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of primary respondents:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the AI in drug discovery market. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The revenue generated from the sales of AI in drug discovery market by leading players has been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To define, describe, and forecast the artificial intelligence (AI) in drug discovery market by offering, technology, application, end-user, and region
- To provide detailed information regarding the factors influencing the growth of the market (such as drivers, opportunities, and challenges)
- To strategically analyze micromarkets1 for individual growth trends, prospects, and contributions to the AI in the drug discovery market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments in North America, Europe, the Asia Pacific, and the Rest of the World (RoW)2
- To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies3
- To track and analyze competitive developments, such as product launches & upgradations; collaboration, partnerships, agreements, strategic alliances, & joint ventures; and acquisitions in the AI in the drug discovery market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for this report.
Company Information
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Growth opportunities and latent adjacency in Artificial Intelligence (AI) in Drug Discovery Market