Global Quantum Computing in Healthcare Market Size, Trends, By Deployment (On-premises, Cloud-based), By Technology (Superconducting qubits, Trapped ions), By Application (Drug discovery, Genomics), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa): Growth Opportunity Analysis and Industry Forecast, 2023-2030.
Global Quantum Computing in Healthcare Market
The Global Quantum Computing in Healthcare Market was valued at USD 49.45 million in 2022 and is expected to expand to USD 601 million by 2030, at a CAGR of 27.51% during the forecast period 2023-2030.
The usage of quantum computers, jaded with large amount of health specifications, congenital data, sensory knowledge, and other personal health information, might be able to give a thorough prediction about a given person's future health. That is what one can call predictive health.
Beyond drug discovery, quantum computing helps significantly with disease diagnosis. Now hospitals and clinics are using AI & ML to help detect possible diseases & tumors in patient test results and images.
Market Drivers
The immense expenditure which is being made by several governments & commercial companies boosts the market for quantum computing in healthcare. There have been numerous government achievements in supporting quantum information processing in healthcare. Hence, the increasing investments in quantum computing in emerging economies and the growing propensity of market payers toward quantum computing drives the market.
Furthermore, quantum computing enhances medical imaging techniques by revamping image resolution & processing speed, which enables more accurate & timely interpretation. The ability of quantum computers to handle a wide amount of data & perform complex calculations opens new opportunities for precision medicine, as it can analyze individual patient information and provide customized treatment recommendations. All these factors shall boost global quantum computing in the healthcare market.
Market Restraints
Accuracy issues with quantum computing systems, the initial high implementation costs, and lack of technical expertise and data management issues shall restrain global quantum computing in the healthcare market.
Market Segmentation
The global quantum computing in the healthcare market is segmented into deployment (on-premises, cloud-based), technology (superconducting qubits, trapped ions), and application (drug discovery, genomics).
Regional Analysis
The global quantum computing in healthcare market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the global quantum computing in the healthcare market and owes the largest market share of the market. The large share of North America is attributable to the rising government investments and funding for quantum computing, and an increasing number of quantum computing companies catering to the healthcare industry in the region.
Key Players
Various key players are discussed in the global quantum computing in healthcare market report including; IBM, Google, Inc., Rigetti & Co, LLC., Quandela, D-Wave Quantum Inc., Quantinuum, Ltd., ID Quantique, Zapata Computing, Atos SE, IonQ, Classiq Technologies, Inc., Xanadu Quantum Technologies Inc., and Others.
Market Taxonomy
By Deployment
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook