Artificial Intelligence in Drug Discovery Market

The artificial intelligence (AI) in drug discovery market is projected to reach USD 6.89 billion by 2029 from USD 1.86 billion in 2024, at a CAGR of 29.9% from 2024  to 2029. The major factors driving the growth of artificial intelligence (AI) in drug discovery market include the increasing number of cross-industry collaborations and partnerships, the growing need to curb drug discovery and development costs, and potentially reduce the overall timeline and accelerate processes. There is a marked increase in the volume of accessible biomedical datasets, including multi-omics and chemical structures. Moreover, increasing the pipeline for AI-driven discovery for oncology and initiatives for research on rare diseases and orphan drugs also propel the growth of artificial intelligence (AI) in the drug discovery market. For instance, in September 2023, Merck KGaA (Germany) collaborated with Exscientia (UK)  to leverage Merck's disease expertise in neuroinflammation and oncology, clinical development capabilities, and global footprint, in conjunction with Exscientia's Al-driven precision drug design and discovery capabilities.

The artificial intelligence (AI) in drug discovery market is dominated by key players. The prominent players operating in this market are NVIDIA Corporation (US), Exscientia (UK), Google (US), BenevolentAI (UK), Recursion (US), Insilico Medicine (US), Schrödinger, Inc. (US), Microsoft (US), Atomwise Inc. (US), Illumina, Inc. (US), Numedii, Inc. (US), Xtalpi Inc. (US), Iktos (France), Tempus (US), DEEP GENOMICS (Canada), Verge Genomics (US), BenchSci (Canada), Insitro (US), Valo Health (US), BPGBio, Inc. (US), Merck KGaA (Germany), IQVIA (US), Tencent Holdings Limited (China), Predictive Oncology, Inc. (US), CytoReason (Israel), Owkin, Inc. (US), Cloud Pharmaceuticals (US), Evaxion Biotech (Denmark), Standigm (South Korea), BIOAGE (US), Envisagenics (US), Abcellera (US), and Centella (India). The market players have adopted strategies such as product launches and enhancements, investments, partnerships, collaborations, agreements, joint ventures, funding, acquisitions, expansions, conferences, FDA clearances, sales contracts, and alliances to strengthen their position in the artificial intelligence (AI) in drug discovery market. The product and technology innovations have helped the market players expand globally by providing advanced AI capabilities for drug design, drug optimization, and understanding diseases.

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NVIDIA Corporation

NVIDIA Corporation, a prominent technology company, has made remarkable advances in artificial intelligence (AI), particularly drug discovery. NVIDIA GPUs power AI workloads in drug discovery applications such as molecular modeling, simulation, and machine learning. Nvidia’s AI software includes development tools, libraries, and frameworks that can be used to build and deploy AI applications for drug discovery. The company provides generative AI platforms like BioNeMo and Clara Discovery. NVIDIA BioNeMo simplifies the deployment of AI models, hastening the transition to AI-driven drug discovery. It offers models for 3D protein structure prediction, molecule generation, property predictions, and molecular docking. Users can customize AI models with their data, access pre-trained models, and integrate them into drug discovery workflows. NVIDIA Clara Discovery is a software suite that includes a variety of tools for AI-driven drug discovery.

NVIDIA Corporation operates more than 50 offices across the Americas, Asia, and Europe, along with manufacturing facilities in the US and Taiwan. The company collaborates with a number of pharmaceutical companies and biotech startups to develop solutions for AI-driven drug discovery. For example, in November 2023, NVIDIA collaborated with Genentech to improve computational models and incorporate generative AI into drug discovery processes, allowing for faster exploration of molecular designs.

Insilico Medicine

Insilico Medicine is an end-to-end generative AI-driven biotech company accelerating drug discovery and development to treat cancer and age-related diseases. Its proprietary Pharma.AI platform spans biology, chemistry, and clinical development. The company pioneered the application of reinforcement learning and generative adversarial networks (GANs) to develop new molecular structures for diseases with known and unknown targets. Its products and services are used by pharmaceutical companies, biotechnology companies, and academic research institutions. Insilico Medicine has produced a diversified internal pipeline of 31 programs for 29 drug targets. The company’s lead drug is ISM001-055, a small-molecule chemical drug candidate primarily designed to treat fibrosis-related indications, including idiopathic pulmonary fibrosis. The company has offices in the US, Hong Kong, Canada, and the UAE. The company has more than 150 academic and industrial collaborations worldwide. For instance, in September 2024, Insilico Medicine collaborated with Inimmune to leverage its proprietary AI platform, Chemistry42, in accelerating the discovery and development of next-generation immunotherapeutics.

Exscientia

Exscientia is an AI-driven small-molecule drug discovery and design company. The company designed and developed an end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection. The company’s patient-first AI process comprises four elements, namely, Precision Target (experimental and literature-based AI systems to prioritize projects), Precision Design (an extensive platform of AI technologies to design innovative drugs), Precision Experiment (tech-enabled precision experimentation to derive better data), and Precision Medicine (integrated analysis of patient data to ensure clinical relevance). The platform has helped design candidate drug molecules that have progressed into clinical trials and improve disease understanding through AI-guided assessment and generative AI. Exscientia collaborates with pharmaceutical companies such as GSK, Sanofi, and Roche. The company has offices in the UK, the US, and Japan. For instance, in July 2024, Exscientia announced the expansion of its collaboration with Amazon Web Services, Inc. to utilize AWS's AI and machine learning services, further enhancing its end-to-end drug discovery and automation platform.

Related Reports:

Artificial Intelligence in Drug Discovery Market by Process (Target, Lead), Use Case (Design & Optimisation: Vaccine, Antibody; Disease understanding, PK/PD), Therapy (Cancer, CNS, CVS), Tool (ML:DL (CNN, GAN)), End User & Region - Global Forecast to 2029

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