The quantum computing in healthcare global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Quantum Computing In Healthcare Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The quantum computing in healthcare market size has grown exponentially in recent years. It will grow from $0.06 billion in 2023 to $0.09 billion in 2024 at a compound annual growth rate (CAGR) of 36.8%. The growth in the historic period can be attributed to expansion of high-speed networks, increased preference for quantum computing, increased patient engagement and adherence to individual-level treatments, increased bandwidth, and strong integrity, increased molecular interaction.
The quantum computing in healthcare market size is expected to see exponentially growth in the next few years. It will grow to $0.30 billion in 2028 at a compound annual growth rate (CAGR) of 37.1%. The growth in the forecast period can be attributed to increasing investments in quantum computing, growing demand for precision medicine, demand for precision medicine rising, accelerating drug discovery, capacity to handle extensive data for personalized medicine. Major trends in the forecast period include discovery of new therapeutics, mRna research, biomedical research, enhanced imaging and diagnostics, technological advancements.
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Scope Of Quantum Computing In Healthcare Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Quantum Computing In Healthcare Market Overview
Market Drivers –
The increased availability of high-speed 5G or 6G networks is expected to propel the growth of quantum computing in the healthcare market going forward. High-speed 5G or 6G networks are advanced wireless communication technologies that provide significantly faster data transfer rates, lower latency, and greater connectivity than previous generations. The availability of high-speed 5G or 6G networks is increasing due to the growing demand for faster, more reliable connectivity to support advanced applications such as IoT, autonomous vehicles, and augmented reality. 5G networks can complement quantum computing in healthcare by enabling faster data transfer, supporting edge computing, facilitating remote healthcare services, and enhancing security and privacy. The integration of these technologies has the potential to revolutionize healthcare delivery, research, and innovation, leading to improved patient outcomes and healthcare outcomes. For instance, in March 2022, according to a report published by the GSM Association, a UK-based non-profit organization, the number of 5G connections is projected to increase from 1 billion in 2021 to 2 billion by 2025. Further, by the end of 2025, 5G connections will constitute over 20% of total mobile connections, with more than 40% of the global population having access to a 5G network. Therefore, the increased availability of high-speed 5G or 6G networks is driving the growth of quantum computing in the healthcare market.
Market Trends –
Major companies operating in the quantum computing in healthcare market are developing advanced technologies, such as quantum computers, to analyze vast amounts of genomic data much faster than classical computers, to provide personalized treatment plans. Quantum computers potentially solve complex problems in cryptography, optimization, drug discovery, and material science much faster than classical computers. For instance, in January 2024, Cleveland Clinic, a US-based non-profit academic medical center, in collaboration with IBM Corporation, a US-based technology company, launched the first quantum computer dedicated to healthcare research. This computer, boasting over 1,000 qubits, promises to revolutionize healthcare research by significantly advancing drug discovery, genomic analysis, molecular modeling, and medical imaging techniques. Its unique technology and innovative approach to educating a high-tech workforce in data science and quantum computing is poised to propel understanding in the field to new heights.
The quantum computing in healthcare market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Superconducting Qubits, Trapped Ions, Quantum Annealing, Other Technologies
3) By Deployment: On-Premise, Cloud
4) By Application: Drug Discovery And Development, Medical Diagnostics, Genomics And Precision Medicine, Radiotherapy, Risk Analysis, Other Applications
5) By End-User: Pharmaceutical And Biopharmaceutical Companies, Labs And Research Institutes, Healthcare Providers, Healthcare Payers
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Regional Insights –
North America was the largest region in the quantum computing in healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum computing in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the quantum computing in healthcare market are Google LLC , Microsoft Corporation, Tencent Holdings Limited, Intel Corporation, IBM Corporation, HoneyWell International Inc., Fujitsu Ltd., Toshiba Corp., Atos SE, Quantinuum, Cambridge Quantum Computing, IonQ Inc., 1QBit Co., Rigetti & Co Inc. , Cambridge Quantum Computing, QC Ware Corp., D-Wave Systems Inc., Zapata Computing Inc., Algorithmiq, KETS Quantum Security Ltd., Anyon Systems Inc., ProteinQure Inc., Menten AI, Entropica Labs, Strangeworks
Table of Contents
1. Executive Summary
2. Quantum Computing In Healthcare Market Report Structure
3. Quantum Computing In Healthcare Market Trends And Strategies
4. Quantum Computing In Healthcare Market – Macro Economic Scenario
5. Global Quantum Computing In Healthcare Market Size and Growth
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32. Global Quantum Computing In Healthcare Market Competitive Benchmarking
33. Global Quantum Computing In Healthcare Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Quantum Computing In Healthcare Market
35. Quantum Computing In Healthcare Market Future Outlook and Potential Analysis
36. Appendix
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