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Quantum Computing in Healthcare Market Research, 2032
The quantum computing in healthcare market size was estimated at USD 0.08 billion in 2022. The healthcare market’s quantum computing sector is expected to expand at a compound annual growth rate (CAGR) of 42.90% between 2023 and 2032, from USD 0.11 billion in 2023 to USD 1.98 billion by 2032. Drug development, genetic analysis, biological system simulation, real-time monitoring, and analytics are the main factors propelling the market’s expansion.
Major players in the Quantum Computing in Healthcare Market, including,
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Another significant motivator is the potential of quantum computing to solve the issue of drug-resistant illnesses. Since antibiotic resistance is becoming a bigger global health concern, finding new antibiotics has become more and more difficult. Quantum computing has the potential to accelerate the search for novel antibiotic compounds and more quickly identify promising ones by studying the complex interactions between pathogens and potential drug candidates.
A vast amount of data is generated by the pharmaceutical industry through testing, clinical trials, and genetic analysis. Quantum computing, which can collect and analyse this data at previously unheard-of speeds, facilitates data-driven drug discovery. New therapeutic targets and drug candidates can be discovered more quickly thanks to machine learning algorithms powered by quantum computing that can uncover hidden patterns in large datasets. Consequently, driving the revenue of the quantum computing market in healthcare.
Sectoral Insights
Hardware, software, and services are included in the segmentation of the quantum computing market for healthcare depending on component. In 2022, the market was dominated by the services sector.
Superconducting qubits, trapped ions, quantum annealing, and other technologies are included in the technology-based market segmentation of quantum computing in healthcare. The market in 2022 was led by the superconducting qubits segment.
Based on application, the quantum computing in healthcare market is segmented into areas such as risk analysis, radiotherapy, genomics and precision medicine, drug development, and medical diagnostics. The market was led by the drug development and discovery sector in 2022.
Based on end-user classification, the healthcare market for quantum computing comprises labs and research institutes, healthcare payers, pharmaceutical and biopharmaceutical businesses, and healthcare providers. In 2022, the market was led by the pharmaceutical and biopharmaceutical businesses segment.
On-premises and cloud-based deployments are included in the segmentation of the quantum computing market in the healthcare industry. The segment with cloud-based products made the most money.
The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. In 2022, the North American healthcare quantum computing market held a 45.80% share. North America, especially the United States, is home to some of the most prestigious research institutes, academic institutions, and IT companies. These companies are currently developing and researching quantum computing. Innovation in the healthcare industry is being fostered by partnerships between these institutions and healthcare providers, particularly in areas such as genetics, disease modelling, and medication discovery. Furthermore, the healthcare quantum computing market in the United States had the most market share, while the healthcare quantum computing market in Canada had the quickest rate of growth in the North American continent.
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