Report Ocean is a comprehensive analysis of the “Quantum Computing in Healthcare Market” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
The Global Quantum Computing in Healthcare Market, currently valued at approximately USD 59.65 million in 2022, anticipates a robust growth rate exceeding 42.50% over the forecast period from 2023 to 2030. Quantum computing in healthcare involves the application of quantum computing technology to address challenges and advance research in the healthcare and medical sectors. The market is flourishing due to factors such as increasing investments in quantum computing across developed and emerging economies, a growing demand for personalized medicine, and escalating funding and investments in quantum computing startups.
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Both developed and developing nations have begun to make considerable investments in quantum computing to support research initiatives in the healthcare industry. Federal data indicates that the US QIS research and development budget for FY 2022 was about USD 900 million. According to a study by the National Science and Technology Council Subcommittee on Quantum Information Science, this is twice what the US invested in this area in FY 2019.
European nations are also making major investments in quantum computing. The German government pledged a large investment in IBM’s research on quantum computing to support its application in a variety of industries. The German government contributed USD 720.5 million to help quantum technologies get from fundamental research to applications that are ready for the market. France has achieved similar success in the field of quantum computing. Thus, rising number of investment activities for the adoption of quantum computing in healthcare technology is catering the market growth. In addition, technological advancements in quantum computing supporting various healthcare applications and potential applications in medical image analysis and oncology is creating lucrative growth to the market. However, the high cost of Quantum Computing in Healthcare and accuracy issues with quantum computing systems stifles market growth throughout the forecast period of 2023-2030.
Key Regions and Market Players:
The key regions considered for the Global Quantum Computing in Healthcare Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2022, driven by the presence of key market players and the region’s increasing investment in the adoption of new technologies. Europe is poised for significant growth during the forecast period, fueled by the rising development of precision medicine, increasing investment in healthcare technologies, and growing healthcare funding.
Major Market Players:
- D-Wave Systems Inc
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Intel Corporation
- Atom computing Inc
- Xanadu Quantum Technologies Inc
- Classiq Technologies Ltd.
- Protiviti Inc.
- Rigetti & Co, LLC
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- In March 2023, IBM (US), in collaboration with Cleveland Clinic (UK), deployed the IBM Quantum System One, becoming the world’s first quantum computer exclusively devoted to healthcare research. The goal is to assist Cleveland Clinic in accelerating biological discoveries.
- In March 2023, Canadian company D-Wave Quantum, Inc., released the Dwave-Scikit-Learn-Plugin, a new hybrid solver plug-in enabling businesses to use quantum technology to accelerate the development of machine learning (ML) applications.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also provides detailed information about crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it incorporates potential opportunities in micro markets for stakeholders to invest in, along with a detailed analysis of the competitive landscape and Component offerings of key players. The detailed segments and sub-segments of the market are explained below:
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- Superconducting Qubits
- Trapped Ions
- Quantum Annealing
- Drug Discovery & Development
- Medical Diagnostics
- Genomics & Precision Medicine
- Risk Analysis
By End User:
- Pharma & Biopharma Companies
- Labs & Research Institutes
- Healthcare Providers
- Healthcare Payers
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Global Quantum Computing in Healthcare Market Report Scope:
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Deployment, Technology, Application, End User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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