Artificial Intelligence In Drug Discovery Market Size Worth $3.5 Billion By 2027

Grand View Research, Inc.

SAN FRANCISCO, Sept. 14, 2020 /PRNewswire/ -- The global artificial intelligence in drug discovery market size is expected to reach USD 3.5 billion by 2027, expanding at a CAGR of 28.8%, according to a new report by Grand View Research, Inc. The growing adoption of artificial intelligence (AI) platforms aimed at reducing the overall cost associated with drug discovery and to enhance results is expected to propel the demand for these platforms in the pharma market.

Key suggestions from the report:

• The drug optimization and repurposing segment accounted for the largest revenue share of 54.4% in 2019
• By therapeutic area, the oncology segment was valued at USD 125.0 million in 2019
• By therapeutic area, the infectious disease segment is expected to witness the fastest growth of 31.4% from 2020 to 2027
• In Asia Pacific, the AI in drug discovery market is expected to witness a CAGR of 32.1% from 2020 to 2027
• North America and Europe together accounted for 78.6% share of the market revenue in 2019.

Read 80 page research report with ToC on "Artificial Intelligence In Drug Discovery Market Size, Share & Trends Analysis Report By Therapeutic Area (Oncology, Cardiovascular Disease, Metabolic Diseases), By Application, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-drug-discovery-market

Based on the application, the drug optimization and repurposing segment accounted for the largest revenue share in 2019. AI platforms help in identifying alternative applications for existing medicines. This can help pharma companies diversify their portfolio of offerings and assist in producing alternative therapies through minor alterations in the pharmaceutical product. Furthermore, AI platforms also enable researchers to identify the toxic effects of the medicine on the body and thus reduce the chances of adverse effects.

In 2019, oncology application accounted for the largest share whereas, the infectious disease application segment is expected to emerge as the fastest-growing application segment over the forecast period. Artificial intelligence already plays a vital role in the early detection of cancer. Furthermore, as treatments for cancer may vary for each patient, personalized medicine has proven to be an effective alternative.