North America Artificial Intelligence In Drug Discovery Market Size & Outlook
North America artificial intelligence in drug discovery market, 2018-2030 (US$M)
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North America artificial intelligence in drug discovery market highlights
- The North America artificial intelligence in drug discovery market generated a revenue of USD 851.2 million in 2023.
- The market is expected to grow at a CAGR of 28.6% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 851.2 million |
| Market revenue in 2030 | USD 4,961.6 million |
| Growth rate | 28.6% (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, North America region accounted for 57.0% 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
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North 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 53.72% in 2023. Horizon Databook has segmented the North 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.
Strong economic growth and presence of well-equipped hospitals, research centers, universities, & medical device manufacturers are factors boosting the development of new products in this region. In addition.
Increasing need for managing & controlling overall costs & time associated with discovery & development of drugs, increasing cross-industry collaborations & partnerships, surge in the adoption of cloud-based services & applications.
Impending patent expiry of blockbuster drugs are expected to further drive the market in North America. For instance, in May 2018, Intel announced its collaboration with Novartis for using deep neural networks to increase high-content screening to support early drug discovery.
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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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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 continent-level data and insights on the North America artificial intelligence in drug discovery market , including forecasts for subscribers. This continent databook contains high-level insights into North America artificial intelligence in drug discovery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America artificial intelligence in drug discovery market size, by country, 2018-2030 (US$M)
North America Artificial Intelligence In Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
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