Quantum Computing in Healthcare Market Size, Growth Challenges, and Future Developments to 2032

The research study conducted by Report Ocean on the "Quantum Computing in Healthcare Market" spans over 100 pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.

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

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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.

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*
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

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Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?

Growth Hampering Factors in the Market:
• Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
• Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
• Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
• Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
• Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
• Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
• Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
• Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
• Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.

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