Quantum Computing in Drug Discovery Market 2030 By Offering (Software and Services), Application (Drug Design and Drug Development), Capacity Range (Low Capacity Batteries, Medium Capacity Batteries and High Capacity Batteries), End User (Pharmaceutical Companies, Biotechnology Companies and Academic and Research Institutions), By Therapeutic Area and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Healthcare | Pages : 193 Pages | Published On : Feb 2024

Quantum Computing in Drug Discovery Market was valued USD 541.0 Million in 2023 and projected to reach USD 2,480 Million by 2030, growing at a CAGR of 24.3% during the forecast period of 2023-2030.

Major vendors in the global Quantum Computing in Drug Discovery market : Accenture, Amazon Web Service, Atos, Fujitsu, Huwaei, IBM, Microsoft, Xanadu, XtalPi, Qubit Pharmaceutical, PharmCADD, AQEMIA, MOLECULAR QUANTUM SOLUTIONS (MQS) and Others.

Market Overview

The quantum computing landscape in drug discovery is witnessing a dynamic convergence of cutting-edge technology and pharmaceutical innovation. Major players are investing heavily in quantum computing, recognizing its potential to revolutionize molecular simulations and expedite the drug discovery process. Despite technical challenges, the market is characterized by optimism and strategic collaborations, paving the way for a future where quantum algorithms unlock unprecedented insights into molecular interactions, reshaping the landscape of pharmaceutical research and development.

Rising Demand for Faster Drug Discovery

The increasing need for quicker drug discovery processes in the Quantum Computing in Drug Discovery Market reflects a significant shift in the pharmaceutical industry's approach. Conventional drug discovery, characterized by extended timelines and resource-intensive techniques, is being surpassed by the urgency to confront immediate health challenges. Quantum computing emerges as a promising solution, providing unprecedented computational speed and capability. The drive for accelerated drug development, spurred by the necessity to rapidly respond to emerging diseases and enhance treatment strategies, fuels the growing demand for quantum computing solutions. As stakeholders acknowledge the potential of quantum technologies to revolutionize molecular simulations and hasten the identification of promising drug candidates, the Quantum Computing in Drug Discovery Market becomes a focal point for innovation. This momentum is driven by the essential goal of transforming the healthcare landscape with increased agility and efficiency.

Market Dynamics

Drivers:

  • Growing need for personalized medicine
  • Rising investments in quantum computing research and development

Opportunities:

  • Development of new drugs
  • Improvement of drug efficacy and safety

Reduction Of Drug Discovery Costs

The market for Quantum Computing in Drug Discovery is undergoing a significant transformation in reducing the costs associated with drug development. Traditional approaches to drug development often grapple with high expenses linked to extensive experimentation and the need for substantial computational resources. Quantum computing emerges as a cost-efficient alternative, markedly improving computational efficiency and simplifying complex simulations. The capacity of quantum systems to efficiently handle intricate molecular interactions results in a noteworthy decrease in both the time and financial investments required for drug discovery. In the pursuit of innovative strategies to optimize research and development budgets, pharmaceutical companies recognize the cost-saving potential of quantum computing, positioning it as a valuable asset that reshapes the economic landscape of drug discovery within the market.

The market for Quantum Computing in Drug Discovery is dominated by North America.

In 2022, North America is positioned to have a crucial impact in strengthening the market share of quantum computing in drug discovery. The region's strong position is attributed to its robust research and development infrastructure, significant investments in quantum technologies, and collaborations between leading pharmaceutical companies and quantum computing firms. Additionally, North America's advanced regulatory framework and supportive government initiatives create an environment conducive to the integration of quantum computing in drug discovery processes. As industries in the region continue to prioritize innovation and technological advancements, North America is anticipated to emerge as a key driver, contributing substantially to the growth and prominence of the quantum computing in drug discovery market.

The Drug Design Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on application the quantum computing in drug discovery market is segmented into drug design and drug development. The drug design segment is expected to dominate the application segment in the quantum computing in drug discovery market. This is because drug design is a critical step in the drug discovery process, and it is where quantum computing can have the greatest impact. Quantum computers can be used to simulate molecular interactions and predict drug efficacy and safety, which can help to identify new drug targets and develop more effective drugs.

Global Quantum Computing in Drug Discovery Market Report Scope:

Report

Details

Market size value in 2023

USD 541.0 Million

Market size value in 2030

USD 2,480 Million

CAGR (2023-2030)

24.3%

Forecast Period

2023–2030

Historic Data

2019

Forecast Units

Value (USD Million/USD Billion)

Segments Covered

Therapeutic Area, Offering, Application, End User and Region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Segmentations Analysis of Quantum Computing in Drug Discovery Market: -

  • By Offering
    • Software
    • Services
  • By Application
    • Drug Design
    • Drug Development
  • By End User
    • Pharmaceutical Companies
    • Biotechnology Companies
    • Academic and Research Institutions
  • By Therapeutic Area
    • Cardiovascular Disorders
    • CNS Disorders
    • Dermatological Disorders
    • Endocrine Disorders
    • Gastrointestinal Disorders
    • Immunological Disorders
    • Infectious Diseases
    • Musculoskeletal Disorders
    • Oncological Disorders
    • Respiratory Disorders
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

Recent Developments

  • In February 2023, Quantum Brilliance announced a collaboration with GlaxoSmithKline to use Quantum Brilliance's diamond-based quantum computers to accelerate the discovery of new drug candidates.
  • In January 2023, Schrödinger announced a partnership with Merck to use Schrödinger's quantum simulation platform to identify new drug targets.

Answers to Following Key Questions:

  • What will be the Quantum Computing in Drug Discovery Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Quantum Computing in Drug Discovery Market?
  • What are the main forces behind worldwide Quantum Computing in Drug Discovery Market? Which companies dominate Quantum Computing in Drug Discovery Market?
  • Which companies dominate Quantum Computing in Drug Discovery Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Insight Engines industry's suppliers' opportunities and dangers in Quantum Computing in Drug Discovery Market?
  • What is the Insight Engines industry's regional sales, income, and pricing analysis? In the Quantum Computing in Drug Discovery Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Quantum Computing in Drug Discovery Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Quantum Computing in Drug Discovery Market?
  • What are the dominant revenue-generating regions for Quantum Computing in Drug Discovery Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Quantum Computing in Drug Discovery Market trends that are influencing the market's expansion?
  • Which key product categories dominate Quantum Computing in Drug Discovery Market? What is Quantum Computing in Drug Discovery Market’s main applications?
  • In the coming years, which Quantum Computing in Drug Discovery Market technology will dominate the market?

Reason to purchase this Quantum Computing in Drug Discovery Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Quantum Computing in Drug Discovery Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Quantum Computing in Drug Discovery Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Quantum Computing in Drug Discovery Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Quantum Computing in Drug Discovery Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Quantum Computing in Drug Discovery Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

TOC

Table and Figures

Methodology:

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This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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