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The Power Of Positive (AI) Thinking – AI In Drug Discovery Market Revenues Are Expected To Approach $3 Billion By 2026

Artificial Intelligence (AI) In Drug Discovery Global Market Report 2022– Market Size, Trends, And Forecast 2022-2026

Artificial Intelligence (AI) In Drug Discovery Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Artificial Intelligence (AI) In Drug Discovery Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 8, 2022 / -- The Global Artificial Intelligence (AI) in Drug Discovery market benefited from the COVID-19 pandemic. This is due to the rapid adoption and maturation of AI in the drug discovery process by pharmaceutical companies needing to accelerate the search for vaccines and medicines to treat the virus. The recognized need to increase productivity and decrease attrition in Drug Discovery, coupled with the strong alignment between pharma big data, innovation in the AI market and abundant investment capital is set to drive growth in AI in Drug Discovery market over the next 5 to 10 years.

The AI in drug discovery market consists of sales of AI for drug discovery and related services. AI in drug discovery is a technology that uses a simulation of human intelligence process by machines to tackle complex problems in the drug discovery. It helps to find new molecules to identify drug targets and develop personalized medicines in the pharmaceutical industry.

TBRC’s AI in drug discovery market report is segmented by technology into context-aware processing, natural language processing, querying methods, and deep learning. The deep learning segment was the largest segment of the AI in drug discovery market, accounting for 33.9% of the total revenues in 2021. Going forward, the deep learning segment is expected to be the fastest growing segment, at a CAGR of 30.49% during 2021-2026. The AI in Drug Discovery market is also segmented by different drug types, namely small molecules and large molecules, and involves various therapeutic areas such as metabolic disease, cardiovascular disease, oncology, neurodegenerative diseases, others. Finally, AI in drug discovery is implemented by several end-users including pharmaceutical companies, biopharmaceutical companies, academic and research institutes, and others.

The AI in drug discovery global market grew from $204.9 million in 2016 to $791.8 million in 2021 at a compound annual growth rate (CAGR) of 31.0%. The Coronavirus (COVID-19) pandemic has impacted supply chains of the pharmaceutical industry, along with changes in demand, regulation revisions, and changes in R&D processes. It also affected the industry with delays in clinical trials, approvals, and product launches. However, in the global effort to develop an effective vaccine and medical treatment for the COVID-19, artificial intelligence was effectively deployed in the fight against the virus. The pandemic accelerated the adoption and maturation of AI in the drug discovery process by pharma companies, with R&D rapidly implementing the most cutting-edge technologies such as artificial intelligence and machine learning to help speed up the process of finding an effective medicine. For example, in 2020, UK based Benevolent AI successfully applied AI to quickly find a potential COVID treatment by repurposing the rheumatology drug baricitinib, which subsequently demonstrated clinical efficacy and gained FDA approval in 2021. Reflecting this, in 2021, the primary end-user of AI in drug discovery was the Pharmaceutical Companies, with over 50% of the global AI in drug discovery revenues, and Biopharmaceutical Companies in second with about 25%. Academic and Research Institutes, and Others account for about 9% and 15% of revenues respectively. The most rapid growth over the next 10 years is likely to be in the Biopharmaceutical companies, following the lead of the pharmaceutical companies in identifying wining strategies and applications. The Global Market Model indicates that the market is expected to grow from $791.8 million in 2021 to $2,994.5 million in 2026 at a rate of 30.5%. The market is then expected to grow at a CAGR of 25.4% from 2026 and reach $9,293.0 million in 2031.

Despite increasing unmet medical needs for novel therapeutics to treat emerging infectious diseases and chronic diseases of the elderly, drug discovery productivity remains low. The process of drug discovery, from target identification to regulatory approval is slow, traditionally taking over a decade, and requires a large investment of up to $2.8 billion. Despite this massive investment in time and money approximately 90% of molecules that enter clinical development fail prior to regulatory approval. This unsustainable level of attrition places a high value on innovations that impact on drug discovery productivity through increasing speed, reducing costs and importantly eliminate sources of attrition. The major sources of attrition are lack of efficacy, poor toleration, and toxicity, which can be attributed to the mechanism or the molecule.

Investors consider AI as a critical success factor for the pharmaceutical market. This is apparent from asset management, private equity, and venture capital firms, actively investing in AI in drug discovery. The total amount of Venture Capital funding in AI Drug Discovery startups reached $1.9 billion in 2020 with companies like XtalPi, Insitro, Tempus, Exscientia and others accessing this venture capital to finance their intelligent digital drug discovery platforms.

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