Artificial Intelligence (AI) in Drug Discovery Market trend

 

Data Bridge Market Research analyzes that the global Artificial Intelligence (AI) in drug discovery market is expected to reach the value of USD 24,618.25 million by 2029, at a CAGR of 53.3% during the forecast period.

Artificial Intelligence (AI) is expected to be a lucrative technology in the healthcare industry. The implementation of AI reduces R&D gap in the drug manufacturing process and helps in targeted manufacturing of drug. Hence, biopharmaceutical companies are turning to AI to enhance their market share. AI for drug discovery is a technology that uses machines to simulate human intelligence to solve complicated challenges in the drug development procedure. The adoption of AI solutions in the clinical trial process eliminates possible obstacles, reduces clinical trial cycle time and increases the productivity and accuracy of the clinical trial process. Technological advancements in AI for drug discovery and reduction in total time involved in drug discovery process are other factors driving the market growth in the forecast period. However, low quality and inconsistent available data will obstruct the market growth. Also, high cost associated with technology and technical limitations will restrain the market growth.

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