Global AI in Computer Aided Synthesis Planning Market Highlights 2022 – 2030
The global AI in computer aided synthesis planning market is estimated to garner a sizeable revenue and grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the growing demand to accelerate the process of synthesizing small molecule compounds by chemists across the globe. Along with this, increasing technological advancements in the field of synthesis planning, and rising need to design and produce molecule by more sophisticated techniques are also expected to drive market growth in the forthcoming years. Furthermore, surge in development of sophisticated algorithms for drug discovery and development, and escalating adoption of AI around the world are projected to offer lucrative opportunities to the market in the near future. In 2020, more than 14 percent healthcare companies in the world adopted AI for product/service development, and about 12 percent organizations used the technology for manufacturing.
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The market is segmented by end user industry into healthcare, chemicals, and others, out of which, the healthcare segment is anticipated to hold the largest share in the global AI in computer aided synthesis planning market. This can be accounted to the increasing utilization of the method for augmented drug discovery and development. Apart from this, AI in computer aided synthesis planning, or CASP, can also be used to predict the 3D structures of proteins, which is also assessed to boost the growth of the market segment in the years to come. Additionally, on the basis of application, the organic synthesis segment is predicted to acquire the largest share during the forecast period, which can be credited to the rise in demand to develop methods that take lesser time for finding the right constituents to construct organic compounds.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global AI in Computer Aided Synthesis Planning Market Regional Synopsis
On the basis of geographical analysis, the global AI in computer aided synthesis planning market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to occupy the largest share and witness noteworthy growth over the forecast period on the back of the high spending to improve healthcare, and rising investments to provide efficient solutions for chemical problems in the region. As per the data provided by the Centers for Medicare and Medicaid Services, U.S. health care spending reached USD 3.8 trillion in 2019. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent.
In addition, strong presence of prominent market players is also expected to boost the market growth in the region in the coming years. Moreover, the market in Europe is also projected to grab a significant share during the forecast period owing to the growing research and development activities to develop data driven modelling paradigms, and surging emphasis of companies to improve the process of drug development in the region.
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The global AI in computer aided synthesis planning market is further classified on the basis of region as follows:
Our in-depth analysis of the global AI in computer aided synthesis planning market includes the following segments:
By End User Industry
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing demand to accelerate the process of synthesizing small molecule compounds, and increasing technological advancements in the field of synthesis planning.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2030.
North America will provide more business opportunities for market growth owing to the high spending to improve healthcare, and rising investments to provide efficient solutions for chemical problems in the region.
The major players in the market are DeepMatter Group Plc, Merck KGaA, PostEra, IKTOS, Wiley-VCH GmbH, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, end user industry, and by region.
The healthcare segment is anticipated to hold largest market size and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.
Less awareness about the technology in lower economic regions is estimated to hamper the market growth.
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