Artificial Intelligence (AI) In Drug Discovery Market

The artificial intelligence (AI) in drug discovery market consists of sales of AI for drug discovery and related services. Artificial Intelligence (AI) for drug discovery is a technology that uses a simulation of human intelligence process by machines to tackle complex problems in the drug discovery process. It helps to find new molecules to identify drug targets and develop personalized medicines in the pharmaceutical industry. The global artificial intelligence (AI) in drug discovery market is expected to decline from $0.37 billion in 2019 to $0.36 million in 2020 at a compound annual growth rate (CAGR) of -1.33%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.1 billion in 2023 at a CAGR of 42.9%.