According to Emergen Research, the global intelligent drug discovery market size was USD 360.90 million in 2020 and is expected to reach USD 5,174.24 million in 2028 and register a revenue CAGR of 39.4% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Intelligent Drug Discovery Market, By Offering (Software, Services), By Technology (Machine Learning, Supervised Learning, Deep Learning, Reinforcement Learning, Unsupervised Learning, Others), By Application (Cancer, Neurodegenerative Diseases, Metabolic Diseases, Immuno-oncology, Cardiovascular Disease, Others), By End-use (Pharmaceutical & Biotechnology Companies, Research Centers and Academic & Government Institutes, Contract Research Organizations, Others), and By Region Forecast to 2028”
According to Emergen Research, the global intelligent drug discovery market size was USD 360.90 million in 2020 and is expected to reach USD 5,174.24 million in 2028 and register a revenue CAGR of 39.4% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global intelligent drug discovery market is supported by factors such as rising prevalence of chronic and acute illnesses around the world, rapid incorporation of emerging technologies such as artificial intelligence in the healthcare sector for new drug discovery & development, increasing public and private investments in pharmaceutical research & development activities, and rapid adoption of intelligent drug discovery technology to develop effective drugs and therapeutics against COVID-19.
Use of artificial intelligence technology in novel drug discovery and development has certain advantages for manufacturers such as improved identification of drug targets, reduced production time, enhanced precision in manufacturing, and higher cost-efficiency. Hence, pharmaceutical companies are increasingly leveraging advanced AI solutions including machine learning and deep learning solutions to reorganize molecule binding properties, with even higher accuracy and efficacy. Rising awareness of next-generation technologies and increasing partnerships & collaborations pharmaceutical and biotechnology companies for R&D of new drugs are expected to further drive the global market growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Machine Learning Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the global intelligent drug discovery market is segmented into Machine Learning, Supervised Learning, Deep Learning, Reinforcement Learning, Unsupervised Learning, and Others. The machine learning segment was the most dominant in terms of largest revenue share in the global market in 2020. Factors contributing to revenue growth of this segment include rapid adoption of the machine learning technology in the drug discovery and development processes to design the drug chemical structure and investigate its effects in both clinical and preclinical trials, and rising government investments in the pharmaceutical industry.
Cardiovascular Disease Segment to Account for Fastest Revenue CAGR:
Based on application, the global intelligent drug discovery market is segmented into Cancer, Neurodegenerative Diseases, Metabolic Diseases, Immuno-oncology, Cardiovascular Disease, and Others. The cardiovascular disease segment is projected to dominate other segments in terms of fastest revenue CAGR in the global market over the forecast period. Rising prevalence of cardiovascular disease across the globe, growing utilization of the intelligent drug discovery technology in development of personalized medicine and therapies for various cardiovascular disorders are among the major factors driving this segment’s revenue growth.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America intelligent drug discovery market accounted for the largest revenue share in the global market in 2020, owing to certain favorable factors. Rising burden of chronic and acute diseases, rapid adoption of advanced artificial intelligence technologies and solutions for new drug discovery & development, increasing partnerships & collaborations among pharmaceutical companies and research institutions, and presence of major market players in the region, including IBM Corporation, Microsoft Corporation, and NVIDIA Corporation, are key factors driving the regional market revenue growth.
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Major Companies in the Global Intelligent Drug Discovery Market Include:
- IBM Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Cloud Pharmaceuticals, Inc.
- Atomwise, Inc.
- Insilico Medicine
- Exscientia
- Bioage
- Envisagenics
For the purpose of this report, Emergen Research has segmented the global intelligent drug discovery market based on offering, technology, application, end-use, and region:
Offering Outlook (Revenue, USD Million; 2018-2028)
- Software
- Services
Technology Outlook (Revenue, USD Million; 2018-2028)
- Machine Learning
- Supervised Learning
- Deep Learning
- Reinforcement Learning
- Unsupervised Learning
- Others
Application Outlook (Revenue, USD Million; 2018-2028)
- Cancer
- Neurodegenerative Diseases
- Metabolic Diseases
- Immuno-oncology
- Cardiovascular Disease
- Others
End-use Outlook (Revenue, USD Million; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Research Centers and Academic & Government Institutes
- Contract Research Organizations
- Others
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Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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