Australia Artificial Intelligence In Drug Repurposing Market

Australia Artificial Intelligence In Drug Repurposing Market Insights Forecasts to 2035

• Australia Artificial Intelligence In Drug Repurposing Market Size 2024: USD 24.01 Mn
• Australia Artificial Intelligence In Drug Repurposing Market Size 2035:  USD 251.6 Mn
• Australia Artificial Intelligence In Drug Repurposing Market CAGR 2024: 23.81%
• Australia Artificial Intelligence In Drug Repurposing Market Segments: Component, Technology, Application, and End Use.

The Australian AI in drug repurposing market includes the use of AI technology to identify and develop new therapeutic uses for existing medications and to help improve the understanding of complex relationships between biological systems and drugs. The goal of drug repurposing is to minimize the amount of time and money needed for traditional drug development through the discovery of previously unknown relationships between drugs and diseases, increased therapeutic choices, and expedited routes to clinical implementation. AI platforms leverage large data sets collected via clinical trials, clinical observations, molecular profiles, and pharmaceutical databases, along with existing scientific evidence to suggest which drugs that have already been developed may help treat other diseases or conditions.

 

The artificial intelligence in drug repurposing in Australia are backed by government support, including, including the provision of financial assistance from the Medical Research Future Fund (MRFF). In June 2024, the Federal Government of Australia committed to providing approximately $57 million in funding toward research conducted with the use of AI technologies to support healthcare innovation, as well as to combat genetic diseases. Through this investment, researchers will develop improved tools for diagnosing and analyzing genetic diseases in order to facilitate drug repurposing and develop the concept of precision medicine.

 

As technology advances, Australia’s AI in drug repurposing providers are now using artificial intelligence method used to uncover potentially dangerous drug-disease associations and have adapted it to analyze prescription databases. This assist with identifying safety profiles for drugs and repurposing them based on billions of records demonstrating the power of using AI to redefine consumer analytics into biomedical insights. The Australian drug repurposing market includes the use of AI technology to identify and develop new therapeutic uses for existing medications and to help improve the understanding of complex relationships between biological systems and drugs.

 

Market Dynamics of the Australia Artificial Intelligence In Drug Repurposing Market:

The Australia AI in drug repurposing market is driven by the increasing demand for quicker, less expensive means of drug discovery, reduce development timelines and risk, utilizing AI platforms to rapidly analyze large, complex data sets, increased investments in biotech and health tech innovations, greater numbers of cases of chronic and rare diseases, technological advances improve efficiency, government support assist in reducing the cost of drug discovery.

 

The Australia AI in drug repurposing market is restrained by the limited data privacy, there are also many barriers to the use and scaling of AI-driven repurposing of drugs due to limited access to quality integrated healthcare data and a lack of skilled professionals.

 

The future of Australia AI in drug repurposing market is bright and promising, with versatile opportunities emerging from the enhancing the digital health infrastructure through nation-wide initiatives to improve health record systems and promote the ability for information to work together cross different types of systems, an environment is created in which AI can be utilised to the fullest extent possible for the re-purposing of research on a much faster basis. In addition to this, the use of AI for re-purposing is also expected to provide an excellent opportunity for a much quicker response to health threats that could arise in the future. Furthermore, through the increasing ability of academia, industry, and government to collaborate across sectors, and the continual growth in the amount of computational power and access to health data, this will enhance the speed of innovation and commercialisation in this area.

 

Market Segmentation

 

The Australia Artificial Intelligence In Drug Repurposing Market share is classified into component, technology, application, and end use.

 

By Component:

The Australia AI in drug repurposing market is divided by component into software & platform and services. Among these, the software & platform segment held the largest revenue market share in 2024 and is predicted to grow at a remarkable CAGR during the forecast period. Core functionality for analysing vast biomedical data, designing drugs, finding targets, and predicting efficacy, high initial investment and demand for tailored platforms all contribute to the software & platform segment's largest share and higher spending on AI in drug repurposing when compared to other component.

By Technology:

The Australia AI in drug repurposing market is divided by technology into machine learning, natural language processing, knowledge graphs & network-based AI, generative AI & large language models, and computer vision. Among these, the machine learning segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The machine learning segment dominates because of its core, analysing vast genomic, clinical, and patient data to find hidden patterns and correlations between drugs and diseases, significantly speeding up discovery and improving prediction accuracy.

 

By Application:

The Australia AI in drug repurposing market is divided by application into oncology, neurology, cardiology, infectious diseases, rare & orphan diseases, and others. Among these, the oncology segment held the largest market share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. High prevalence of cancer, the extensive volume of cancer-related studies and data, and the need for faster, more effective, and personalized cancer treatments all contribute to the oncology segment's dominance and higher spending on AI in drug repurposing when compared to other applications.

 

By End Use:

The Australia AI in drug repurposing market is divided by end use into pharmaceutical & biotechnology companies, contract research organizations, academic and research institutes, and others. Among these, the pharmaceutical & biotechnology companies segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The pharmaceutical & biotechnology companies segment dominates because of high investment in research and development, helps in efficiency and cost reduction to accelerate drug discovery, and these firms access to extensive data utilizing AI models effectively.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the Australia AI in drug repurposing market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

Top Key Companies in Australia Artificial Intelligence In Drug Repurposing Market:

• NVIDIA Corporation
• Google
• Microsoft Corporation
• Johnson & Johnson
• AstraZeneca
• Roche
• Novartis
• Pfizer
• Insilico Medicine
• BenovolentAI
• Schrodinger, Inc.
• Harrison.ai.
• Others

 

Recent Developments in Australia Artificial Intelligence In Drug Repurposing Market:

In September 2024, Melbourne-based Algorae Pharmaceuticals announced the launch of Version 1 of its AI-enabled operating system, AlgoraeOS. This platform, developed in conjunction with the UNSW AI Institute with support from CSIRO, was designed to generate new drug targets and identify repurposing opportunities.

 

In September 2023, The University of New South Wales Sydney signed a research contract with Algorae Pharmaceuticals to create an advanced AI platform for finding new drugs and identifying effective therapeutic combinations, which included targeted drug repositioning.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at the Australia, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the Australia AI in drug repurposing market based on the below-mentioned segments:

 

Australia Artificial Intelligence In Drug Repurposing Market, By Component

• Software & Platform
• Services

 

Australia Artificial Intelligence In Drug Repurposing Market, By Technology

• Machine Learning
• Natural Language Processing
• Knowledge Graphs & Network-Based AI
• Generative AI & Large Language Models
• Computer Vision

 

Australia Artificial Intelligence In Drug Repurposing Market, By Application

• Oncology
• Neurology
• Cardiology
• Infectious Diseases
• Rare & Orphan Diseases
• Other Therapeutic Areas

 

Australia Artificial Intelligence In Drug Repurposing Market, By End Use

• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations
• Academic & Research Institutes
• Others

 

FAQ

Q: What is the Australia AI in drug repurposing market size?

A: Australia AI in drug repurposing market is expected to grow from USD 24.01 million in 2024 to USD 251.6 million by 2035, growing at a CAGR of 23.81% during the forecast period 2025-2035.

 

Q: What are the key growth drivers of the market?

A: Market growth is driven by the rising demand for faster, cost-effective drug discovery methods, reduces development timelines and risk compared to de novo drug design, AI platforms can quickly analyze complex data, increasing investments in biotechnology and health tech innovation, rising prevalence of chronic and rare disease, technological advancement, and government support enhancing research efficiency and lowering costs.

 

Q: What factors restrain the Australia AI in drug repurposing market?

A: Constraints include the limited access to high-quality, integrated healthcare data, strict data privacy and regulatory requirements, and a shortage of skilled professionals which slow adoption and scalability of AI-driven drug repurposing in Australia.

 

Q: How is the market segmented by component?

A: The market is segmented into software & platform and services.

 

Q: Who are the key players in the Australia AI in drug repurposing market?

A: Key companies include NVIDIA Corporation, Google, Microsoft Corporation, Johnson & Johnson, AstraZeneca, Roche, Novartis, Pfizer, Insilico Medicine, BenovolentAI, Schrodinger, Inc., Harrison.ai., and Others

 

Q: Who are the target audiences for this market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers (VARs).