The quantum computing in drug discovery services market is anticipated to grow at 14% CAGR by 2035, according to a market research report by Roots Analysis

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06 Sep, 2023, 14:20 GMT

Stakeholders in the biopharmaceutical industry are currently exploring the implementation of quantum computing in order to expedite the drug discovery process and cut down the overall R&D capital investment

LONDON, Sept. 6, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Quantum Computing Market in Drug Discovery, 2023-2035" report to its list of offerings.

Owing to the various benefits of quantum computing, such as big data processing and complex molecular modeling for minimizing cost and time investment, the adoption rate of quantum computing in pharmaceutical industry is expected to increase rapidly during the forecast period. Additionally, various partnerships have been inked for application of quantum computing in drug discovery. Majority of these partnerships are research and development agreements, followed by platform utilization agreements. Drug developers require support from both quantum computing software and hardware developers. In July 2021, Riverlane and Astex Pharmaceuticals announced their collaboration with Rigetti Computing to utilize their quantum systems along with Riverlane's algorithm expertise to develop molecular models of chemical compounds and study their interaction with proteins in the human body.

To order this 170+ slide report, which features 30+ figures and 75+ tables, please visit our Quantum Computing Market Report

Key Market Insights

Presently, over 45 players around the globe claim to offer quantum computing services across different steps of drug discovery
Leveraging their expertise, 86% stakeholders offer such services across target discovery / identification, primarily focusing on oncological disorders
In pursuit of gaining a competitive edge, manufacturers claim to be steadily expanding their existing capabilities in order to enhance their service portfolio related to quantum computing
Grants worth over USD 70 million have been awarded to various organizations that have actively undertaken R&D efforts to evaluate the potential of quantum computing in drug discovery
A considerable increase in the partnership activity has been witnessed in the past few years; close to 50% of the collaborations were inked by firms based in the same region
More than 30 players, worldwide, claim to offer hardware-as-a-service for quantum computing in drug discovery, and have developed the required expertise in different types of computational approaches
Majority of the quantum computing hardware providers, headquartered in North America, were established before the year 2000; in fact, ~50% of the overall market landscape is catered to by large companies.
The rise in the adoption of quantum computing in the biopharmaceutical industry is anticipated to create profitable business opportunities for both software and hardware providers
Based on the pioneer-migrator-settler map, we have classified the software providers into different categories; a selection of pioneers is expected to provide valuable offerings to lead the market in the longer term
We expect the market to grow at an annualized rate of 14% in the coming decade; the opportunity is likely to be well distributed across types of drug discovery services, therapeutic areas and key geographical regions

For additional details, please visit

https://www.rootsanalysis.com/reports/quantum-computing-in-drug-discovery.html

The financial opportunity within the quantum computing in drug discovery services market has been analysed across the following segments:

Drug Discovery Service(s) Offered

Target Identification / Validation
Hit Generation / Lead Identification
Lead Optimization

Therapeutic Area

Cardiovascular Disorders
CNS Disorders
Dermatological Disorders
Endocrine Disorders
Gastrointestinal Disorders
Immunological Disorders
Infectious Diseases
Musculoskeletal Disorders
Oncological Disorders
Respiratory Disorders
Others

Key Geographical Regions

North America
Europe
Asia-Pacific
Latin America
MENA

The research also includes detailed profiles of the key players (listed below) engaged in the quantum computing in drug discovery services market; each profile features an overview of the company, its financial information (if available), details related to its service portfolio, and recent developments and an informed future outlook.

Accenture
Amazon Web Services
Atos
Fujitsu
Huawei
IBM
Microsoft
Xanadu
XtalPi

Key Questions Answered

What is quantum computing and how does it work in drug discovery?
What is the current market landscape of the quantum computing market focused on drug discovery?
What are the key trends across grants awarded for quantum computing in drug discovery?
What are the key trends in the partnerships and collaborations for quantum computing in drug discovery?
What is the impact of quantum computing on the pharmaceutical industry?
What is the market size of quantum computing in drug discovery services market?
Who are the players in the quantum computing in drug discovery services market?

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