Canada Artificial Intelligence In Drug Discovery Market Size & Outlook
Canada artificial intelligence in drug discovery market, 2018-2030 (US$M)
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Canada artificial intelligence in drug discovery market highlights
- The Canada artificial intelligence in drug discovery market generated a revenue of USD 74.5 million in 2023 and is expected to reach USD 473.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 30.2% from 2024 to 2030.
- In terms of segment, drug optimization & repurposing was the largest revenue generating application in 2023.
- Drug Optimization & Repurposing is the most lucrative application segment registering the fastest growth during the forecast period.
Artificial intelligence in drug discovery market data book summary
| Market revenue in 2023 | USD 74.5 million |
| Market revenue in 2030 | USD 473.1 million |
| Growth rate | 30.2% (CAGR from 2023 to 2030) |
| Largest segment | Drug optimization & repurposing |
| Fastest growing segment | Drug Optimization & Repurposing |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Drug Optimization & Repurposing, Preclinical Testing |
| Key market players worldwide | International Business Machines Corp, Exscientia PLC ADR, Alphabet Inc Class A, Benevolent AI, Recursion Pharmaceuticals Inc Class A, Aitia, BioSymetrics, Euretos, Berg, Atomwise, Insitro |
Other key industry trends
- In terms of revenue, Canada accounted for 5.0% 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 North America, U.S. artificial intelligence in drug discovery market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 473.1 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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Canada 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.
Drug optimization & repurposing was the largest segment with a revenue share of 53.69% in 2023. Horizon Databook has segmented the Canada artificial intelligence in drug discovery market based on drug optimization & repurposing, preclinical testing covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing implementation of AI in drug discovery owing to its benefits, such as facilitating drastically greater speed and capacity, can lead to major advancements in healthcare, where researchers often struggle to make sense of the vast quantities of complex data.
This is anticipated to contribute to market growth in the country. Growing investments in AI in healthcare by the Canadian government is also fueling the market in Canada. Furthermore, increasing investments by the government in AI have created several opportunities.
In the country, such as the availability of 1,000 middle-class jobs and a new source of economic growth to make economies more competitive, inclusive, and sustainable.
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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 Canada artificial intelligence in drug discovery market , including forecasts for subscribers. This country databook contains high-level insights into Canada artificial intelligence in drug discovery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada artificial intelligence in drug discovery market size, by application, 2018-2030 (US$M)
Canada Artificial Intelligence In Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
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