The AI for drug discovery market is expected to grow during the forecast period due to the increasing number of cross-industry partnerships & collaborations, a significant growth in venture capital investments, rise in importance of drug discovery and increase in funding of the R&D activities for the use of AI technology in the field of drug discovery.

The report analyzes factors affecting AI for drug discovery market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the AI for drug discovery market in these regions.

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Drug discovery is the preliminary step in the process of a novel drug identification and its therapeutic target. Artificial intelligence (AI) is commonly used in the healthcare industry for drug discovery. Artificial intelligence technology has the ability to recognize drug targets, and play a significant role in drug design, discovery, identification and screening of molecules instantly and effectively. Drug discovery or new drug target are being estimated based on potency, bioavailability, efficacy, and toxicity.

The reports cover key developments in the AI for drug discovery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from AI for drug discovery market are anticipated to lucrative growth opportunities in the future with the rising demand for AI for drug discovery in the global market.

The prominent players engaged in the AI for drug discovery market are Atomwise, Insilico Medicine, BIOAGE, Numerate, NuMedii, Envisagenics, Cloud Pharmaceuticals, BenevolentAI, twoXAR, Incorporated, and Exscientia.

The global AI for drug discovery market is segmented on the basis of drug type, technology, application, and end user. On the basis of drug type, the market is classified as small molecule and large molecules. Based on technology, the market is classified as deep learning and machine learning. Based on application, the market is classified as metabolic disease, cardiovascular disease, oncology, neurodegenerative diseases, and others. On the basis of end user, the market is classified as pharmaceutical & biotechnological companies, academic & research institutes, and others.

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