Global Artificial Intelligence (AI) In Drug Discovery Market Competitive Landscape And Trends, By The Business Research Company

Rhea-AI Summary

The Business Research Company's AI in Drug Discovery Global Market Report 2023 reveals a concentrated market with IBM holding 13.33% share. The market is projected to grow from $791.8 million in 2023 to $2.9 billion by 2027, at over 30% CAGR. Key players include Benevolent AI, Nvidia, and Exscientia. Opportunities mainly arise in small molecules, expected to reach $1.2 trillion in global sales by 2026. Companies are encouraged to invest in AI innovation labs and develop personalized treatments for rare diseases to leverage growth potential.

Positive

• Market growth anticipated from $791.8 million in 2023 to $2.9 billion in 2027, indicating over 30% CAGR.
• Small molecules segment projected to generate $1.2 trillion in global annual sales by 2026.

Negative

• None.

Artificial Intelligence (AI) In Drug Discovery Global Market Report 2023 By The Business Research Company describes and explains the artificial intelligence (AI) in drug discovery market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report cover market sizing information, market trends, strategies, and opportunities for the seven regions and major players of the AI In Drug Discovery market

LONDON, Feb. 9, 2023 /PRNewswire/ -- According to The Business Research Company's AI In Drug Discovery Global Market Report 2023, the global artificial intelligence (AI) in drug discovery market is concentrated with a large number of players. The top ten competitors in the market made up to more than 50% of the total artificial intelligence (AI) in drug discovery market. This is due to the growing number of applications that address target and drug discovery, preclinical and clinical development, and post approval activities.

The IBM Corporation was the largest competitor with 13.33% share of the artificial intelligence (AI) in drug discovery market, as per the artificial intelligence (AI) in drug discovery market analysis. Other major players in the artificial intelligence (AI) in drug discovery market include Benevolent AI, Nvidia Corporation, Exscientia, Concreto HealthAI, PathAI, BERG, GNS Healthcare, Microsoft Corporation, Insilico Medicine, and more. Several companies in the market have begun using artificial intelligence (AI) tools for tracking medication adherence.

For example, Groove Health, a US based digital health company launched an AI-powered mobile app to help Payers and Health Systems improve medication adherence in their chronic disease populations, addressing the behavioural aspects of medication non-adherence.

Learn more on the Artificial Intelligence (AI) In Drug Discovery Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/artificial-intelligence-in-drug-discovery-global-market-report 

The artificial intelligence (AI) in drug discovery market is expected to grow from $791.8 million in 2023 to $2.9 billion in 2027 at a rate of more than 30%.

AI In Drug Discovery Global Market Report 2023 segments the market

1. By Technology: Deep Learning, Machine Learning
2. By Drug Type: Small Molecule, Large Molecules
3. By Therapeutic Type: Metabolic Disease, Cardiovascular Disease, Oncology, Neurodegenerative Diseases, Other Therapeutics
4. By End-Users: Pharmaceutical Companies, Biopharmaceutical Companies, Academic And Research Institutes, Other End-Users

According to The Business Research Company, some of the top opportunities in the artificial intelligence (AI) in drug discovery market segmented by drug type will arise in small molecules segment, which will gain about $1.2 trillion of global annual sales by 2026.

To take advantage of these opportunities, The Business Research Company recommends companies in the artificial intelligence (AI) in drug discovery market to focus on use of AI based models in pre-clinical studies and introducing new AI tools for drug discovery and rare diseases treatment.

Global Artificial Intelligence (AI) In Drug Discovery Market Strategy Recommendations -

• Companies in the artificial intelligence (AI) in drug discovery market should focus on investing in AI innovation labs to effectively expand drug discovery, research and development and other capabilities. This will help in initiating a portfolio of initiatives across drug design, supply chain optimization and more.
• Companies in the artificial intelligence (AI) in drug discovery market should focus on investing in use of AI technology for developing drugs for rare diseases, to reduce the disease burden and increase revenue. The technology can be used to develop personalized drug treatments based on an individual's genes, environment, and lifestyle.

Contact us for strategies that are tailored for you - https://www.thebusinessresearchcompany.com/sample.aspx?id=3411&type=smp

View Similar Reports

Artificial Intelligence Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/artificial-intelligence-global-market-report 

Drug Discovery Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/drug-discovery-global-market-report 

Artificial Intelligence Chip Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/artificial-intelligence-chip-global-market-report/ 

Interested to know more about The Business Research Company?

The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information

The Business Research Company
Europe: +44 207 1930 708Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/ 
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-artificial-intelligence-ai-in-drug-discovery-market-competitive-landscape-and-trends-by-the-business-research-company-301742690.html

SOURCE The Business Research Company

FAQ

What is the projected growth of the AI in Drug Discovery market from 2023 to 2027?

The AI in Drug Discovery market is projected to grow from $791.8 million in 2023 to $2.9 billion by 2027.

Who are the major players in the AI in Drug Discovery market?

Major players include IBM, Benevolent AI, Nvidia, and Exscientia.

What opportunities are expected in the small molecules segment of the AI in Drug Discovery market?

The small molecules segment is expected to generate $1.2 trillion in global annual sales by 2026.

What is the market share of IBM in the AI in Drug Discovery market?

IBM holds a 13.33% share of the AI in Drug Discovery market.

What strategies are recommended for companies in the AI in Drug Discovery market?

Companies are advised to invest in AI innovation labs and focus on developing drugs for rare diseases.