DUBLIN, June 9, 2023 /PRNewswire/ — The “Global Quantum Computing in Healthcare Market by Component (Hardware, Software), Deployment (0n-premises, Cloud-based), Technology (Superconducting qubits, Trapped ions), Application (Drug discovery, Genomics), End User, and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global quantum computing in healthcare market is projected to reach USD 503 million by 2028 from USD 85 million in 2023, at a high CAGR of 42.5% during the forecast period. The technological advancements in quantum computing supporting various healthcare applications will provide lucrative opportunities to the market during the forecast period.
The cloud based segment registered the highest CAGR during the forecast period in healthcare market, by deployment
In 2022, the cloud-based segment accounted for a significant share of the quantum computing in healthcare market. The growth of the cloud-based segment can be attributed to the limited lifespan of rapidly advancing quantum computing systems, hassle-free scalability and flexibility, which in turn improves the ultimate decision-making process while using the quantum cloud services.
Superconducting Qubits segment accounted for the largest share of the quantum computing in healthcare market, By Technology
In 2022, the superconducting qubits segment accounted for the largest share of the quantum computing in healthcare market. The large share can be attributed to the fast gate speed of quantum computing systems based on superconducting qubits and the high degree of control possible with this type of qubit, making them flexible to be used for various applications such as drug discovery, imaging diagnostics, personalized medicine, etc.
Pharmaceutical and Biopharmaceutical companies was the largest segment by end user of quantum computing in healthcare market in 2022
In 2022, the pharmaceutical & biopharmaceutical companies segment accounted for a significant share of the quantum computing in healthcare market. The growth of the pharmaceutical & biopharmaceutical companies segment can be attributed to the ability of quantum computing to make R&D dramatically faster and more targeted and precise by making target identification, drug design, and toxicity testing less dependent on trial and error and therefore expedite complex drug discovery & development procedures, and enhanced accuracy. Its long-term benefits include the better utilization of resources and capital, better return on investment, and a substantial increase in the delivery of new medicines for chronic diseases.
APAC to witness the highest growth rate during the forecast period
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Factors such as growing demand for advanced technologies such as quantum computing for research & genomics purposes, growing awareness and adoption of quantum computing in emerging regions, and improving healthcare infrastructure.
Market Dynamics
Market Drivers
- Increasing Investments in Quantum Computing in Developed as Well as Emerging Economies
- Growing Inclination of Payers Toward Quantum Computing
- Rising Demand for Personalized Medicine
- Increasing Funding and Investments in Quantum Computing Startups
Restraints
- Accuracy Issues with Quantum Computing Systems and High Implementation Costs
Opportunities
- Technological Advancements in Quantum Computing Supporting Various Healthcare Applications
- Potential Applications in Medical Image Analysis and Oncology
Challenges
- Lack of Technical Expertise and Data Management Issues
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Quantum Computing in Healthcare Market, by Component
7.1 Introduction
7.2 Software
7.2.1 Shift to Web/Cloud-Based Models to Support Growth
7.3 Hardware
7.3.1 Need for Frequent Hardware Upgrades to Drive Market Growth
7.4 Services
7.4.1 Introduction of Complex Software to Drive Demand for Services
8 Quantum Computing in Healthcare Market, by Deployment
8.1 Introduction
8.2 On-Premises
8.2.1 Rising Deployment of On-Premises Quantum Computers by Organizations to Ensure Data Security
8.3 Cloud-Based
8.3.1 Increasing Preference for Cloud-Based Quantum Computing for Research & Development Using Different Approaches
9 Quantum Computing in Healthcare Market, by Technology
9.1 Introduction
9.2 Superconducting Qubits
9.2.1 Low Power Consumption, High Speed, and Ability to Operate at Low Temperatures to Drive Market
9.3 Trapped Ions
9.3.1 Superior Connectivity and Higher Gate Fidelity to Drive Market
9.4 Quantum Annealing
9.4.1 Quick Discovery of Most Efficient Configurations Among Possible Combinations of Variables to Drive Market
9.5 Others
10 Quantum Computing in Healthcare Market, by Application
10.1 Introduction
10.2 Drug Discovery & Development
10.2.1 Enabling Accurate Data Projections and Solutions for Drug Discovery and Development to Boost Market Growth
10.3 Medical Diagnostics
10.3.1 Precise and Sensitive Medical Diagnostics Procedures to Drive Market
10.4 Genomics & Precision Medicine
10.4.1 Unlocking Power of Genomics & Precision Medicine with Quantum Computing Technology
10.5 Radiotherapy
10.5.1 Quantum Radiotherapy: Enabling More Personalized and Precise Treatment in Fight Against Cancer
10.6 Risk Analysis
10.6.1 Enhances Pricing Model Management and Decrease in Costs Associated with Fraud
10.7 Others (Population Health Management, Security in Healthcare)
10.7.1 Securely Transforming Population Health with Quantum Computing
11 Quantum Computing in Healthcare Market, by End-user
11.1 Introduction
11.2 Pharma & Biopharma Companies
11.2.1 Rising Demand for Solutions to Reduce Time and Costs of Drug Development
11.3 Labs & Research Institutes
11.3.1 Increased Research Activities to Encourage Use of Ai in Genomics in Academic and Government Institutes
11.4 Healthcare Providers
11.4.1 High Number of Benefits to Improve Patient Management, Lower Costs, and Deliver Better Patient Treatment
11.5 Healthcare Payers
11.5.1 Potential to Reduce Readmissions and Overhead Costs to Drive Adoption
12 Quantum Computing in Healthcare Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Accenture
- Amazon Web Services (Aws)
- Atos Se
- Classiq Technologies Ltd.
- Deloitte
- D-Wave Quantum Inc.
- Fujitsu
- Google LLC
- Hefei Origin Quantum Computing Technology Co., Ltd.
- IBM
- ID Quantique
- Ionq
- Pasqal
- Protiviti Inc.
- PWC
- QC Ware
- Qnami
- Quandela
- Quantinuum Ltd.
- Quintessencelabs
- Rigetti & Co, LLC.
- Sandbox Aq
- Seeqc
- Xanadu Quantum Technologies Inc.
- Zapata Computing
For more information about this report visit https://www.researchandmarkets.com/r/o6ccew
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