AI in Drug Discovery Market to Rise at 36.1% CAGR during Forecast Period: TMR Study – GlobeNewswire

| Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, Oct. 03, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. By 2031, the AI in drug discovery market size is estimated to surpass value of US$ 10.93 Bn. AI in drug discovery market analysis anticipate the market to progress at 36.1% CAGR during the forecast, from 2021 to 2031. Chronic illness cases, particularly diabetes and cardiovascular diseases, are rising quickly, which could eventually increase the demand for AI in drug discovery platforms. Additionally, the application of AI in the treatment of neurological conditions is likely to contribute to accelerating growth of the AI in drug discovery market. In order to create and develop efficient drug discovery platforms, market participants are likely to concentrate on mindful AI. Furthermore, it is projected that COVID-19-related AI developments will expand significantly.
As a marketing strategy for AI in drug discovery, a host of commercial heavyweights are spending on healthcare applications since use of artificial intelligence in healthcare industry rising and is likely to offer many potential applications. It is anticipated that the use of machine learning techniques and AI in drug research and development applications will improve healthcare outcomes by enhancing drug discovery efficiency. Additionally, it speeds up the identification of specific molecules, cuts down on the time needed for drug discovery, and lowers the price of developing new drugs for pharmaceutical companies.
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Additionally, a number of entrepreneurs and pharmaceutical companies are initiating ventures and spending on the development of ML and AI technologies to enhance drug discovery and better medication development outcome.
Key Findings of Market Report
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Global AI in Drug Discovery Market: Growth Drivers
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Global AI in Drug Discovery Market: Key Players
Some of the key market players are
Global AI in Drug Discovery Market: Segmentation
Drug Type
Application
Technology
Offering
End User
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