Latin America Artificial Intelligence In Drug Discovery Market Size & Outlook
Latin America artificial intelligence in drug discovery market, 2018-2030 (US$M)
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Latin America artificial intelligence in drug discovery market highlights
- The Latin America artificial intelligence in drug discovery market generated a revenue of USD 26.9 million in 2023.
- The market is expected to grow at a CAGR of 28.9% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 26.9 million |
| Market revenue in 2030 | USD 158.9 million |
| Growth rate | 28.9% (CAGR from 2023 to 2030) |
| Largest segment | Drug optimization & repurposing |
| Fastest growing segment | Drug Optimization & Repurposing |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 1.8% of the global artificial intelligence in drug discovery market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,165.2 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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Latin America 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 53.53% in 2023. Horizon Databook has segmented the Latin America 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.
Latin America is expected to be a potential market for AI in healthcare, owing to government readiness for adopting newer technology. According to a survey by International Development Research Centre (IDRC) and Oxford Insights.
The governments of Uruguay, Mexico, and Brazil were ranked among the top 50 countries for readiness to adopt AI. Moreover, integration of AI and machine learning methods into drug discovery pipelines is offering lucrative opportunities to the region by supporting in cutting down cost & time and improving R&D efficiency.
This is anticipated to drive its adoption in the region, which can contribute positively to the overall market growth.
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Target buyers of Latin America artificial intelligence in drug discovery market databook
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America artificial intelligence in drug discovery market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America artificial intelligence in drug discovery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America artificial intelligence in drug discovery market size, by country, 2018-2030 (US$M)
Latin America Artificial Intelligence In Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
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