Artificial Intelligence (AI) in Drug Discovery Market Size

AI in Drug Discovery Market Size

AI in Drug Discovery Market size accounted for USD 1.5 billion in 2022 and is estimated to grow at 30.1% CAGR between 2023 and 2032. Increasing demand to curb the drug discovery cost and time utilized in the process will accelerate the market growth.

Growing number of collaborations and partnerships is expected to accelerate the market demand. For instance, in January 2022, Janssen Pharmaceutica NV, a pharmaceutical company of Johnson & Johnson, collaborated with SRI International (SRI). With this collaboration, Janssen can leverage SRI’s SynFini platform, an artificial intelligence (Al)-guided, automated synthetic- chemistry system for small molecule drug discovery. This strategy helped the company to accelerate small-molecule drug discovery and development. Thus, increasing number of collaborations and partnerships is driving the adoption of AI-based solution for drug discovery and development process.
 

Artificial intelligence (AI) in drug discovery refers to the application of advanced computational algorithms and machine learning techniques to expedite and enhance the process of discovering new drugs and therapies. It involves the utilization of AI models to analyse vast amounts of biological, chemical, and clinical data, enabling the identification of potential drug targets, the design of novel compounds, and the prediction of drug efficacy and safety profiles.