The quantum computing in drug discovery services market is anticipated to grow at a CAGR of about 14% by 2035, claims Roots Analysis

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Mar 09, 2023, 10:45 ET

Upon realizing the numerous benefits of quantum computing, stakeholders in the pharmaceutical industry are currently exploring its implementation across drug discovery and development in order to minimize the associated cost and time investment

LONDON, March 9, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Quantum Computing in Drug Discovery Services Market, 2023-2035" report to its list of offerings.

In order to overcome various challenges related to drug discovery, such as preclinical failure rates, increased time period and heavy capital investments, several pharmaceutical players are currently exploring the potential of quantum computing in drug discovery processes. The use of quantum computing in drug discovery is likely to improve the overall R&D productivity by providing better clinical outcomes with accurate predictions of a drug molecule's properties. Overall, this domain is anticipated to gain significant traction, in the foreseen future.

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Key Market Insights

More than 45 quantum computing software providers currently offer platforms for drug discovery

More than 85% of the players employ quantum computing related approaches to offer services for target discovery / identification, followed by lead optimization (63%). Further, over 65% of the companies offering quantum computing software to predict desirable leads against various indications are focused on oncological disorders, followed by infectious diseases (62%).

The market features the presence of over 30 hardware providers

Majority (52%) of the stakeholders are headquartered in North America, followed by those based in Europe (26%), and Asia-Pacific (22%). Further, this segment of the industry is dominated by the presence of large players (more than 500 employees), representing 48% of the total hardware providers.

Around 175 grants have been awarded for quantum computing in drug discovery, since 2015

Grants worth USD 70 million have been awarded to various organizations working in this domain, during the period 2015-2022. Of these, a significant proportion (58%) of grants were awarded under National Institute of General Medical Sciences, followed by National Cancer Institute (18%).

Partnership activity within this domain has increased at a CAGR of ~40%, between 2017 and 2022

More than 75% of the deals were inked post 2020, with the maximum activity (~50%) being reported in 2021. Majority of these deals were research and development agreements (35%), followed by platform utilization agreements (29%).

Quantum Computing in Drug Discovery Services Market is anticipated to grow at a CAGR of 14% by 2035

North America is anticipated to capture over 45% of the overall market share of the quantum computing in drug discovery services market. This is followed by Europe and Asia-Pacific. In terms of type of service offered, lead optimization is expected to occupy a larger share (~65%) of the overall market in 2035.

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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?

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.