Saudi Arabia Artificial Intelligence In Drug Discovery Market Size & Outlook
Saudi Arabia artificial intelligence in drug discovery market, 2018-2030 (US$M)
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Saudi Arabia artificial intelligence in drug discovery market highlights
- The Saudi Arabia artificial intelligence in drug discovery market generated a revenue of USD 2.0 million in 2023 and is expected to reach USD 11.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 27.5% 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 2.0 million |
| Market revenue in 2030 | USD 11.2 million |
| Growth rate | 27.5% (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, Saudi Arabia accounted for 0.1% 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 Middle East & Africa, South Africa artificial intelligence in drug discovery market is projected to lead the regional market in terms of revenue in 2030.
- Kuwait is the fastest growing regional market in Middle East & Africa and is projected to reach USD 7.8 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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Saudi Arabia 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 55% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
The adoption of AI in drug discovery is increasing in the country owing to several factors, including awareness about the potential of AI in reimagining drug discovery, a surge in demand to reduce time for drug discovery & development.
Increasing investments to drive the adoption of AI in the country. For instance, in October 2020, The University of Oxford entered into a partnership with King Abdulaziz University (KAU) for discovering novel treatments for rare genetic conditions and common diseases.
The Kingdom of Saudi Arabia has further prioritized digital technologies and AI tools for creating & planning the future as a part of Saudi Vision 2030.
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Target buyers of Saudi Arabia 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 country-level data and insights on the Saudi Arabia artificial intelligence in drug discovery market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia artificial intelligence in drug discovery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia artificial intelligence in drug discovery market size, by application, 2018-2030 (US$M)
Saudi Arabia Artificial Intelligence In Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
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