Quantum Computing in Drug Discovery Market anticipated to reach USD 2,480 Million by 2030, growing at a CAGR of 24.3% during the forecast period of 2023-2030 - a MarketDigits exclusive study.

Richmond, Nov. 17, 2023 (GLOBE NEWSWIRE) -- According to a research report "Quantum Computing in Drug Discovery Market, by Offering (Software and Services), Application (Drug Design and Drug Development), Capacity Range (Low Capacity Batteries, Medium Capacity Batteries and High Capacity Batteries), By End User (Pharmaceutical Companies, Biotechnology Companies and 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 and Others)  and Region.

Global Quantum Computing in Drug Discovery Market Report Scope:

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TOC Covers in Depth & Breath on Quantum Computing in Drug Discovery Market
186 - Market Data Tables
65 - List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

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.

Major vendors in the global Quantum Computing in Drug Discovery market:

• Accenture
• Amazon Web Service
• Atos
• Fujitsu
• Huawei
• IBM
• Microsoft
• Xanadu
• XtalPi
• Qubit Pharmaceutical
• PharmCADD
• AQEMIA
• MOLECULAR QUANTUM SOLUTIONS (MQS)

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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.

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