The global Artificial Intelligence (AI) in Drug Discovery market is rapidly expanding, driven by breakthroughs in data science, increased prevalence of chronic diseases, and a growing need to expedite the drug development process. According to Fortune Business Insights, the market was valued at USD 3.00 billion in 2022 and is projected to reach USD 7.94 billion by 2030, growing at a CAGR of 12.2% during the forecast period (2023–2030).

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Top Companies in the Market

• Microsoft (U.S.)
• Schrödinger, Inc. (U.S.)
• Cresset (U.K.)
• IBM (U.S.)
• Atomwise Inc. (U.S.)
• Insilico Medicine (U.S.)
• Exscientia (U.K.)
• BenevolentAI (U.K.)
• Aria Pharmaceuticals, Inc. (U.S.)
• Integral BioSciences (U.S.)
• Alphabet Inc. (U.S.)

Key Industry Development

November 2022: Cyclica received a USD 1.8 million grant from the Bill & Melinda Gates Foundation to enhance its AI-enabled drug discovery platform for developing new non-hormonal contraceptives. The project focuses on targeting multiple low-data biological pathways and underlines the importance of AI in solving complex drug discovery challenges.

Market Drivers

• Rising Chronic Disease Burden: Increasing global incidences of cancer, cardiovascular diseases, and metabolic disorders are driving the need for faster, more cost-effective therapeutic solutions.