Quantum Computing Market Revenue to Cross $1.6 billion by 2035 | Roots Analysis

Published: December 2023


According to a recently published report by Roots Analysis, owing to the technological innovations and increasing adoption rate of quantum computing in drug discovery, the opportunity for service providers in this domain is likely to grow in the coming future

Quantum Computing Industry Overview

The global quantum computing market is anticipated to grow at a CAGR of 13% from 2023-2035, reaching USD 1.63 billion by 2035.

Quantum computing is a technology that uses the laws of quantum mechanics to solve large and complex problems, offering better insights and expediting the overall drug discovery process. Over the past few years, quantum computing has evolved significantly and created an impact on the pharmaceutical and healthcare industries as it helps to better map interactions between a drug and its target patient and reduce the time and costs associated with the developmental processes. Quantum computing functions in a different way as compared to the approach being used in traditional computers. It uses quantum bits (qubits) which can exist in more than one state (0 and 1) at a single time in order to encode information in bits and achieve quantum superposition. Groups of qubits in superposition can create complex, multidimensional computational spaces where complex problems can be represented in new ways. Once quantum computing is fully developed, it is likely to add significant value from drug discovery to commercialization, due to its ability to optimize logistics and improve the supply chain. With the benefits associated, increasing demand for quantum computing, especially in the biopharmaceutical domain for operations, such as drug discovery and drug manufacturing, is anticipated to create lucrative business opportunities for service providers.

Browse 30+ figures and 80+ market data tables spread across 190+ slides and detailed Table of Content on “Quantum Computing Market by Type of Drug Discovery Service Offered, Therapeutic Area, and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” here: https://www.rootsanalysis.com/reports/quantum-computing-in-drug-discovery.html

Market Drivers

Several factors are propelling the growth of the quantum computing market. The growing need for a shortening the drug discovery timeline and reducing the overall cost of drug development are some of the primary drivers responsible for the growth of quantum computing market in drug discovery and clinical trials domain. The ability of quantum computing software to predict the outcome has helped in the improvement the overall drug discovery process. With the benefits offered by quantum computing software and hardware, the healthcare industry is also shifting towards the rise in investments in quantum computing, which is also propelling the research and development activities in drug discovery and clinical trials.

Market Restraints

While the quantum computing market is experiencing substantial growth, the adoption is not significant currently. Despite the huge potential, quantum computing is associated with the complexity associated with this domain, currently, there are not many established quantum computing service providers. Since the domain is in its niche stages, the monetary requirement for establishing the necessary infrastructure along with conducting R&D operations is very high, which is restricting its adoption by small and mid-sized drug developers.

Growth Factors

Despite certain limitations, the adoption rate of quantum computing, specifically for drug discovery and 
development purposes is expected to witness substantial growth. Quantum computing has enabled drug developers to address the market demand in a timely manner; therefore, a higher number of industry stakeholders are anticipated to integrate this approach in drug discovery and development processes. The rising demand has encouraged multiple developers to explore the potential of quantum computing for various applications.

Quantum Computing Market Segments

Based on the drug discovery service offered, the Quantum Computing market is segmented into Target Identification / Validation, Hit Generation / Lead Identification and Lead Optimization.

  • Lead Optimization led the market for Quantum Computing, capturing the largest market share of around 62% in 2035.
  • Lead Optimization is anticipated to show the highest growth potential during the forecast period of 14% annually.

Based on the Therapeutic Area, the Quantum Computing market is segmented into Cardiovascular Disorders, CNS Disorders, Dermatological Disorders, Endocrine Disorders, Gastrointestinal Disorders, Immunological Disorders, Infectious Diseases, Musculoskeletal Disorders, Oncological Disorders, Respiratory Disorders and Others.

  • Oncological Disorders hold 30% share of the overall quantum computing market in drug discovery in 2023.
  • CNS disorders is anticipated to show the highest growth potential during the forecast period of over 15% annually.

Based on the Regional Insights, the Quantum Computing market is segmented into (North America (US and Canada), Europe (UK, France, Germany and Rest of the Europe), Asia-Pacific (China, Japan and Rest of the Asia Pacific), Latin America and Middle East and North Africa)

  • North America is anticipated to hold the maximum share (48%) of the global Quantum Computing market in 2023.
  • In Asia-Pacific, the Quantum Computing market is anticipated to demonstrate lucrative growth (13%) during the forecast period.

Key Companies Profiled

The Quantum Computing market report also includes detailed profiles of key players (listed below) that offer quantum computing based software / hardware:

  • Accenture
  • Amazon Web Services
  • Atos
  • Fujitsu
  • Huawei
  • IBM
  • Microsoft
  • Xanadu
  • XtalPi

You Can Download Free Sample PDF Copy of This Report at:
https://www.rootsanalysis.com/reports/quantum-computing-in-drug-discovery/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

Contact Details

Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com

MEDIA CITATIONS

  • We are your partners with no equity

  • We fit in your budget

  • We love what we do

  • Chance to prove ourselves

  • Best in class quality of work

  • Most trusted consulting partner in the industry