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Quantum Computing In Healthcare Market Analysis, Industry Demand And Forecast To 2033
Quantum Computing In Healthcare Market Analysis
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According to The Business Research Company's, 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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Market Drivers and Trends:
The rising prevalence of chronic eye disorders is expected to propel the growth of the ophthalmic handheld surgical instruments market going forward. Chronic eye disorders refer to long-term or persistent conditions affecting the eyes or visual system that typically require ongoing management and treatment. The prevalence of chronic eye disorders is due to the aging population, rising diabetes rates, lifestyle changes, genetic predisposition, and improved awareness and screening programs. The ophthalmic handheld surgical instruments are indispensable in the diagnosis and treatment of a wide range of corneal disorders, enabling ophthalmic surgeons to perform precise, targeted interventions that preserve vision and improve patients' quality of life. For instance, in January 2024, according to the Centers for Disease Control and Prevention, a US-based vital public health agency, over 3.4 million Americans aged 40 years and older were blind or visually impaired, which is expected to double by 2030. Therefore, the increase in chronic eye disorders is expected to propel the growth of the ophthalmic handheld surgical instruments market.
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.
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Major Key Players of the Market:
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
Quantum Computing In Healthcare Market 2024 Key Insights:
• 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%.
• Impact Of High-Speed 5G And 6G Networks On The Growth Of Quantum Computing In Healthcare
• Quantum Computing Transforming Healthcare Research
• North America was the largest region in the quantum computing in healthcare market in 2023
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