Quantum Computing in Healthcare Market Forecast 2023-2030 | Experience Some Large Growth In Near Future

Report Ocean has recently added a comprehensive market research report that provides an in-depth analysis of Quantum Computing in Healthcare industry. This report offers valuable insights into current and future industry trends, empowering readers to identify revenue growth and profitability drivers. It conducts a detailed analysis of key factors influencing the global and regional market, including drivers, restraints, threats, challenges, opportunities, and industry-specific trends. The report also highlights global certainties, downstream and upstream analysis of key players, and provides forecast market information, SWOT & PESTEL analysis, market scenarios, and possibility studies.

Global Quantum Computing in Healthcare Market is valued approximately USD 59.65 million in 2022 and is anticipated to grow with a healthy growth rate of more than 42.50% over the forecast period 2023-2030. Quantum computing in healthcare refers to the application of quantum computing technology to solve problems and advance research in the field of healthcare and medicine. The Quantum Computing in Healthcare market is expanding because of factors such as increasing investments in quantum computing in developed as well as emerging economies, rising demand for personalized medicine and increasing 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.

The key regions considered for the Global Quantum Computing in Healthcare Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players and the region’s increasing investment for adoption on new technologies. Europe is expected to grow significantly during the forecast period, owing to factors such as rising development of precision medicine, rising investment for adoption of healthcare technologies and rising healthcare funding.

Major market players included in this report are:
D-Wave Systems Inc
IBM Corporation
Microsoft Corporation
Google LLC
Intel Corporation

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Atom computing Inc
Xanadu Quantum Technologies Inc
Classiq Technologies Ltd.
Protiviti Inc.
Rigetti & Co, LLC

Recent Developments in the Market:
In March 2023, IBM (US) in collaboration with Cleveland Clinic (UK), The IBM Quantum System One was deployed there and became the first quantum computer in the world to be exclusively devoted to healthcare research with the goal of assisting Cleveland Clinic in accelerating biological discoveries.
In March 2023, The Canadian company D-Wave Quantum, Inc. has released the Dwave-Scikit-Learn-Plugin, a new hybrid solver plug-in that enables 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 caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Software
Hardware
Services

By Deployment:
On-premises
Cloud- based

By Technology:
Superconducting Qubits
Trapped Ions
Quantum Annealing
Others

By Application:
Drug Discovery & Development
Medical Diagnostics
Genomics & Precision Medicine
Radiotherapy
Risk Analysis
Others

By End User:
Pharma & Biopharma Companies
Labs & Research Institutes
Healthcare Providers
Healthcare Payers

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Questions Market Research and Analysis Report

• What are the technological advancements and innovations affecting the industry?
• What are the potential risks and challenges for market participants?
• What are the market entry barriers and competitive intensity?
• What are the market forecasts and projections for the future?
• What are the key success factors for businesses operating in the market?
• What are the recommended strategies for market participants to achieve growth and competitive advantage?
• What are the investment opportunities and potential returns in the market?

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