South Korea Artificial Intelligence In Drug Discovery Market Size & Outlook
South Korea artificial intelligence in drug discovery market, 2018-2030 (US$M)
Related Markets
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, 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 23.2 million |
| Market revenue in 2030 | USD 161.3 million |
| Growth rate | 31.9% (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, 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Artificial Intelligence In Drug Discovery Market Scope
Artificial Intelligence In Drug Discovery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
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.
Drug optimization & repurposing was the largest segment with a revenue share of 53.88% in 2023. Horizon Databook has segmented the South Korea 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 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. 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 for supporting the discovery & development of innovative medicines in the next three years by using AI.
Reasons to subscribe to South Korea artificial intelligence in drug discovery market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea artificial intelligence in drug discovery market databook
-
Our clientele includes a mix of artificial intelligence in drug discovery market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 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.
Partial client list
South Korea artificial intelligence in drug discovery market size, by application, 2018-2030 (US$M)
South Korea Artificial Intelligence In Drug Discovery Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
