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Cloud-based Drug Discovery Platform Market will reach value of US$ 4,323.5 Mn by 2025
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Global Cloud-based Drug Discovery Platform Market: Dynamics
Revenue drivers
Increasing adoption of cloud-based platforms in the healthcare industry to enhance research efficiency
Traction in the adoption of machine learning and artificial intelligence for drug discovery
Regional healthcare companies adopting cloud-based technologies for collaboration with international healthcare market players
Growth challenges
Concerns regarding infrastructure compatibility issues
Issues pertaining to interoperability of applications with devices
Market trends
Upsurge in the implementation of cloud-based platforms in the healthcare sector across the North America region
Rising adoption of cloud-based mobile applications for collaborative drug discovery
Global Cloud-based Drug Discovery Platform Market: Forecast by End User
The global cloud-based drug discovery platform market is segmented on the basis of end user into Pharmaceutical Vendors, Biotech Vendors, Contract Research Organizations, and Others. Pharmaceutical Vendors is expected to be the largest segment in terms of revenue, with a CAGR of 13.4%. Biotech Vendors is the second largest segment in terms of value, estimated to reach a market valuation of US$ 1,247.8 Mn by the end of 2025.
Global Cloud-based Drug Discovery Platform Market: Forecast by Region
Persistence Market Research tracks the performance of the global cloud-based drug discovery platform market across the key regions of North America, Latin America, Europe, Asia Pacific, and MEA. In terms of value, North America is projected to be the most attractive market in the global cloud-based drug discovery platform market during the forecast period. The North America regional market for cloud-based drug discovery platforms is estimated to hold more than 35% value share by the end of the forecast period in 2025. However, the market in APAC is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the APAC cloud-based drug discovery platform market is expected to expand at a CAGR of 16.7% during the forecast period.
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Global Cloud-based Drug Discovery Platform Market: Key Players
Some of the top companies operating in the global cloud-based drug discovery platform market are profiled in the report. Key market players include IBM Corporation, Accenture PLC, Tata Consultancy Services Limited, SAS Institute Inc., BioXcel Corporation, Cloud Pharmaceuticals Inc., WuXi AppTec (Sanghai) Co. Ltd., Dassault System, Acelot, Inc.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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