ARTIFICIAL INTELLIGENCE IN DRUG DISCOVERY MARKET ANALYSIS

Artificial Intelligence in Drug Discovery MarketSize and Trends

The global artificial intelligence in drug discovery market was valued at US$ 1,016.1 Mn in 2022 and is forecast to reach a value of US$ 3,547.4 Mn by 2030 at a CAGR of 5.7% between 2023 and 2030.

Global Artificial Intelligence in Drug Discovery Market Trends:

• Increasing growth strategies such as research collaborations is a recent trend: Market players are focused on signing growth strategies such as research collaboration, which is expected to drive the growth of global artificial intelligence in drug discovery market. for instance, in January 2022, Amgen and Generate Biomedicines today announced a research collaboration agreement to discover and create protein therapeutics for five clinical targets across several therapeutic areas and multiple modalities. Generate Biomedicines is pioneering the field of generative biology – a revolutionary approach to drug discovery and development that leverages machine learning and AI to program novel protein therapeutics. The company’s machine learning algorithms analyze hundreds of millions of known proteins, looking for statistical patterns linking amino acid sequence, structure and function, and its technology platform has been enhanced by closed-loop learning on tens of thousands of computationally generated and broadly experimental characterized novel proteins over the past three years.

• Raising funds from investors to develop new drug discovery platforms is another trend: Market players are focused on gaining funds from investors, which is expected to drive the growth of global artificial intelligence in drug discovery market. For instance, on May 25 2023, BenchSci, a world leader in AI solutions for preclinical life sciences research and development (R&D), announced a US$ 95 million (US $70 million) Series D funding round led by Generation Investment Management, with participation from existing investors iNovia Capital, TCV, Golden Ventures and F-Prime Capital. The funds will be used to expand the company’s revolutionary AI drug discovery platform, ASCEND by BenchSci, which enables scientists to discover biological connections, dramatically reduce trial-and-error experimentation and uncover risks early.