Artificial Intelligence (AI) in Drug Discovery Market Trends

AI in Drug Discovery Market Trends

Increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory disorders, as well as infectious diseases such as HIV/AIDS, malaria, and COVID-19, worldwide is anticipated to boost the market growth. For instance, according to the International Diabetes Federation (IDF) report, in 2021, approximately 537 million adults (20-79 years) are living with diabetes across the globe. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. As the complexity and diversity of these diseases demand innovative approaches to drug discovery, there is a growing requirement for artificial intelligence in healthcare. Moreover, AI can enable the development of precision medicine approaches by tailoring treatments to individual patients based on their unique characteristics and disease profiles. Such factor is anticipated to boost the market growth.