|Status : Published
|Published On : Dec, 2023
|Report Code : VRHC1234
|Industry : Healthcare
|Available Format :
|Page : 200
The market for AI-Enabled Drug Discovery and Clinical Trials has been growing rapidly in recent years, driven by advancements in AI technologies, the need for more efficient drug development processes, and the increasing availability of large-scale biomedical data. AI is being applied to various aspects of drug discovery and clinical trials, including target identification, lead generation, optimization of drug candidates, prediction of drug safety and efficacy, patient selection for clinical trials, and data analysis. The Global AI-Enabled Drug Discovery and Clinical Trials Market is anticipated to grow at a substantial rate i.e. from USD 0.60 billion In 2023 to USD 4.2 billion by 2030, registering a CAGR of 24.6% during the forecast period 2025-2030. AI for drug discovery is defined as a technology that is used to improve the process of decision-making for drug discovery. The market is driven by the rising demand to decrease the cost of new drug discovery and production, increasing incidences of rare diseases, need for personalized drugs.
Moreover, the use of AI is increasing rapidly to make the discovery of efficient and cost-effective drugs, resulting in gaining traction from the stakeholders in the pharmaceutical industry. Moreover, the increasing drug development expenditure and a growing number of synergistic activities will bolster the growth of the AI-enabled drug discovery and clinical trials market. Nevertheless, various regulatory bodies like U.S. Food and Drug Administration (FDA) have provided guidelines and taken initiatives to encourage the implementation of AI in the drug discovery and development process.
The pharmaceutical and biotechnology industries are increasingly using AI to faster the process of drug development and enhance precision during the COVID-19 pandemic. Moreover, there is rising clinical R&D expenditure on various drugs leading to the growth of the AI-enabled drug discovery and clinical trials market during the pandemic.
Insight by Component
Based on the component, the global AI-enabled drug discovery and clinical trials market is bifurcated into solutions and services. The solutions segment is subdivided into aggregation & synthesis of information, drug design & validation, optimizing drug candidates, and others. The solution segment is anticipated to hold the largest share in the AI-enabled drug discovery and clinical trials market during the forecast period owing to the increasing cost of drug discovery and advancement process leading to the development of AI solutions. This will increase the time efficiency and curtail the cost of the drug discovery and development process.
Insight by Application
Based on the application, the global AI-enabled drug discovery and clinical trials market is segmented into data integration & analysis, clinical trials, drug design, drug characterization, biomarker research, and others. Among all the segments, the data aggregation and analysis segment is anticipated to dominate the market by 2030 as most of the companies in the market are offering solutions & services for data analysis. Also, the biomarker segment will witness the fastest growth during the forecast period 2025-2030.
Insight by Therapeutic Application
Based on the therapeutic applications, the global AI-enabled drug discovery and clinical trials market is divided into oncology, nervous system diseases, cardiovascular diseases, respiratory disorders, metabolic diseases, immunologic diseases, infectious diseases, and others. Among all the segments, the oncology segment dominates the market in 2022 owing to the crucial role played by AI in the early detection of cancer. AI-enabled drug discovery will find out the genetic mutations which will help oncologists to provide effective personalized medicine for cancer patients.
Insight by End-User
Based on the end-user, the global AI-enabled drug discovery and clinical trial market is divided into the biopharmaceutical industry, contract research organizations (CROs), and academic institutes and research & centers. The biopharmaceutical industry dominates the market due to the adoption of artificial intelligence (AI) which will offer drug manufacturers to increase the productivity of the drug development process and reduce the processing time.
Global AI-Enabled Drug Discovery and Clinical Trials Market Report Coverage
2018 - 2023
Base Year Considered
2025 - 2030
Market Size in 2023
U.S.D. 0.60 Billion
Revenue Forecast in 2030
U.S.D. 4.2 Billion
Segments Covered in the Report
By Component, By Application, By Therapeutic Application and By End-User
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report
North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World
The increasing adoption of AI which includes machine learning, cloud computing, etc., increasing cross-industry collaboration, focus on the quality of care, and streamlining workflow facilities are the trends that will anticipate the growth of the AI-enabled drug discovery and clinical trials market.
Target Identification and Validation: AI algorithms can analyze large datasets of genetic, genomic, and proteomic data to identify potential drug targets and validate their relevance to specific diseases.
Drug Design and Optimization: AI techniques such as machine learning and deep learning can be used to generate and optimize drug candidates, predicting their properties, efficacy, and safety profiles.
Virtual Screening: AI algorithms can analyze large libraries of compounds and predict their potential for binding to specific drug targets, enabling more efficient screening of potential drug candidates.
Clinical Trial Optimization: AI can be used to design and optimize clinical trials, including patient selection criteria, trial protocols, and monitoring of patient responses during the trial.
Real-World Data Analysis: AI algorithms can analyze real-world patient data, electronic health records, and other sources of healthcare data to identify patterns, detect adverse events, and improve patient outcomes.
The rising awareness about the advantages of AI, 4K Imaging, and IoT among healthcare professionals, rising drug development expenditure, increasing need to reduce the drug discovery cost and time, rising number of agreements between pharmaceutical and IT companies, facilitation of polypharmacology, increasing use of cloud-based services, rising number of synergistic activities, are the drivers that propel the growth of the market. Moreover, the use of AI will provide precision which in turn will reduce the complications and time-consuming process of the drug development, resulting in the fast development of drugs and reduce risk failure. These all factors will bolster the growth of the AI-enabled drug discovery and clinical trials market.
Lack of regulations and ethical issues, high cost of AI implementation, and limited awareness may hinder the growth of the AI-enabled drug discovery and clinical trials market as certain countries like America and Europe are regulated but there are no proper guidelines in countries such as Asia-Pacific and the Middle East & African region. Moreover, lack of skilled staff and insufficient data sets for the discovery and development of medicines will impact the market growth.
The expansion of businesses in emerging economies like India and Brazil, and countries having a high geriatric populace like Japan and China will create lucrative opportunities for growth in the AI-enabled drug discovery and clinical trials market. The AI-enabled drug discovery and clinical trials market includes various stakeholders, including pharmaceutical companies, biotechnology firms, contract research organizations (CROs), academic research institutions, and AI technology providers. Several startups and established companies are actively involved in developing and commercializing AI solutions for drug discovery and clinical trials.The market is expected to continue growing in the coming years, driven by the increasing adoption of AI technologies, advancements in computational power, and the need for more efficient and cost-effective drug development processes. However, there are also challenges to overcome, such as regulatory considerations, data privacy concerns, and the need for robust validation and interpretation of AI-generated results.
North America is anticipated to hold the largest market share in the AI-enabled drug discovery and clinical trials market owing to the presence of market players in the region., rising need to develop novel treatments for rare diseases, increasing R&D expenditure, an increasing number of clinical trials, and significant investment in the healthcare sector by USA government.
The industry players are expanding their customer base in various countries to compete on product price and efficiency. These industry players are leveraging strategic collaboration initiatives and partnerships to expand their geographical reach and improve their profitability
The University of Kentucky announced a research collaboration with Atomwise, an industry leader in using artificial intelligence (AI) for small molecule discovery, to explore potential COVID-19 therapies.
Some of the key players operating in the global AI-enabled drug discovery and clinical trials market: Accutar Biotechnology Inc., AiCure, Ardigen, Atomwise inc., BERG LLC, Biovista, Cloud Pharmaceuticals, Inc., Cyclica Inc., Symphony Innovation, LLC, and Benevolent AI.
The AI-Enabled Drug Discovery and Clinical Trials Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research