Global AI in Drug Discovery Market Size, Share, Growth Analysis, By Type(Small molecules and Large molecules), By End-User(Pharmaceutical and Biotechnology Companies and Academics and Research institutes) - Industry Forecast 2024-2031

AI in Drug Discovery Market Drivers

Rise in incidence of chronic diseases propels need for AI in drug discovery

• Around the world, the prevalence of chronic diseases is rising quickly. The Centres for Disease Control and Prevention (CDC) estimate that six out of ten persons in the United States have a chronic illness. The CDC also emphasises that chronic illnesses like diabetes and heart disease are the main killers in the United States. These figures highlight the rising incidence of chronic diseases and the necessity of reducing the death rate brought on by these illnesses. Deriving insights into the identification of medications to treat and lessen the severity of various chronic diseases may show to be a practical alternative using AI platforms utilised for drug research.

AI in Drug Discovery Market Restraints

High cost associated with technology and technical limitations

• The healthcare industry currently faces a number of difficult problems, such as rising medicine and therapy costs, and society needs specific, significant improvements in this area. Since this data are utilised for the following training that is given to the system, the success of AI as a whole hinges on their availability. For a business, accessing data from different database providers may result in additional expenses. Clinical trials take six to seven years to complete and include a substantial monetary investment in order to determine the safety and effectiveness of a medicinal product in people for a specific disease condition. Only one out of every ten compounds that undergo these trials, however, receive successful clearance, which represents a significant loss for the industry.