The global AI in drug discovery market is estimated to grow significantly, at a CAGR of 51.3%, during the forecast period. AI has the potential to enhance the drug discovery process, diminish failure rates during clinical trials, reduce R&D expenses, and ultimately produce a superior medicine for the healthcare sector. There are several drug discovery and pharma companies have started working in conjunction with software companies for implementing the most advanced technologies that require costly and extensive drug discovery process. AI-driven computer programs can accurately and promptly analyze structures of a range of drug molecules and predict adverse effects, potency, and pharmacological activities of the drug. This possibility has the potential to develop a rapid and inexpensive route of drug discovery.
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AI stands out to be one of the biggest technological breakthroughs in the healthcare sector; however, there are lots of security concerns associated with this technology, which hampers the growth of the market at the global level. In addition, the lack of relevant data input to AI-assisted healthcare devices may result in hampering the market growth during the forecast period. Despite these restraining factors, with the increasing prevalence of diseases, the need for the advanced drug is rising. Every pharma company strives to develop a new innovative drug. In order to achieve this goal, companies spend heavily on R&D department. These investments are expected to offer growth opportunities to the AI in drug discovery market during the forecast period.
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Global AI in Drug Discovery Market by Application
Others (Metabolic Diseases)
Global AI in Drug Discovery Market by End-User
Pharmaceutical and Biotechnology Companies
Contract Research Organizations (CROs)
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Desktop Genetics Ltd.
Insilico Medicine, Inc.
Recursion Pharmaceuticals Inc.
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