Global Artificial Intelligence (AI) In Drug Discovery Market To Recover From COVID-19 Crisis At Growth Rate Of 43%

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%. The rise in demand for a reduction in the overall time taken for the drug discovery process is a key driver propelling the growth of the artificial intelligence (AI) in drug discovery market. However, the shortage of skilled professionals is expected to hamper the AI in drug discovery market.

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.

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The global AI in drug discovery market is further segmented based on type and geography.
By Technology: Deep Learning, Machine Learning
By Drug Type: Small Molecule, Large Molecules
By Therapeutic Type: Metabolic Disease, Cardiovascular Disease, Oncology, Neurodegenerative Diseases, Others
By End-Users: Pharmaceutical Companies, Biopharmaceutical Companies, Academic and Research Institutes, Others.
By Geography: The global AI in drug discovery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American AI in drug discovery market accounts for the largest share in the global AI in drug discovery market.

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Trends In The Artificial Intelligence (AI) In Drug Discovery Market
Major companies operating in the AI drug delivery market are adopting strategic collaborations to research and discover drugs using AI and are gaining significant popularity in the artificial intelligence in drug discovery market.
Artificial Intelligence (AI) In Drug Discovery Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides AI in drug discovery market overviews, analyzes and forecasts AI in drug discovery market size and growth for the global AI in drug discovery market, AI in drug discovery market share, AI in drug discovery market players, AI in drug discovery market size, AI in drug discovery market segments and geographies, AI in drug discovery market trends, AI in drug discovery market drivers and AI in drug discovery market restraints, AI in drug discovery market’s leading competitors’ revenues, profiles and market shares. The AI in drug discovery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.