South Korea Artificial Intelligence In Drug Discovery Market Size & Outlook
South Korea artificial intelligence in drug discovery market, 2018-2030 (US$M)
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South Korea artificial intelligence in drug discovery market highlights
- The South Korea artificial intelligence in drug discovery market generated a revenue of USD 23.2 million in 2023 and is expected to reach USD 161.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 31.9% from 2024 to 2030.
- In terms of segment, oncology was the largest revenue generating therapeutic space in 2023.
- Infectious Disease is the most lucrative therapeutic space segment registering the fastest growth during the forecast period.
Artificial intelligence in drug discovery market data book summary
| Market revenue in 2023 | USD 23.2 million |
| Market revenue in 2030 | USD 161.3 million |
| Growth rate | 31.9% (CAGR from 2024 to 2030) |
| Largest segment | Oncology |
| Fastest growing segment | Infectious Disease |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oncology, Neurodegenerative Diseases, Cardiovascular Disease, Metabolic Diseases, Infectious Disease, Other |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global artificial intelligence in drug discovery market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China artificial intelligence in drug discovery market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 808.8 million by 2030.
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Artificial Intelligence in Drug Discovery Market Scope
Artificial Intelligence in Drug Discovery Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea artificial intelligence in drug discovery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to artificial intelligence in drug discovery market will help companies and investors design strategic landscapes.
Oncology was the largest segment with a revenue share of 22.41% in 2023. Horizon Databook has segmented the South Korea artificial intelligence in drug discovery market based on oncology, neurodegenerative diseases, cardiovascular disease, metabolic diseases, infectious disease, other covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing implementation of AI in drug discovery owing to various benefits, including development of state-of-the-art algorithms by utilizing the latest advancements in biology & computing, reducing the potential for false positives, and reducing the overall cost of drug discovery & development, is expected to boost South Korea’s market.
Increasing investments by various public and private organizations have also increased the adoption of AI in drug discovery. For instance, in March 2019, Standigm raised USD 11.5 million in a Series B funding round.
The funding round was led by Mirae Asset Capital & Mirae Asset Venture Investment, aimed at scaling AI technology platforms and advancing its drug discovery pipeline toward license-out. In June 2019, The Korean government announced spending 25.8 billion KRW (USD 21.7 million) for supporting the discovery & development of innovative medicines in the next three years by using AI.
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Our clientele includes a mix of artificial intelligence in drug discovery market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea artificial intelligence in drug discovery market , including forecasts for subscribers. This country databook contains high-level insights into South Korea artificial intelligence in drug discovery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea artificial intelligence in drug discovery market size, by therapeutic space, 2018-2030 (US$M)
South Korea Artificial Intelligence in Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
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