Global Cloud Based Drug Discovery Market to Grow at Over 13% CAGR through 2025

The global cloud based drug discovery market is projected to grow at a CAGR of over 13% during the assessment period 2017-2025 and reach a valuation of nearly US$ 4.3 Bn. The adoption of cloud based drug discovery systems is influenced by a range of macroeconomic and microeconomic factors. Complete insights on these factors are available in a new market research study added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). The report titled “Global Market Study on Cloud-based Drug Discovery Platforms: Pharmaceutical Vendors Projected to be the Most Attractive End User Segment Through 2025” is a valuable source of guidance and analysis on the global cloud based drug discovery market.

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The key driving factors impacting market growth include growing adoption of advanced technology, such as artificial intelligence and machine learning for drug discovery. Traditional healthcare companies are also collaborating with tech companies to consolidate their position in the market. Although the outlook on the global cloud based drug discovery market is positive, concerns related to limitations with infrastructure, combined with lack of wide range of devices that are interoperable can stymie market growth during the assessment period.

By end-users, pharmaceutical vendors are likely to be the dominant segment in the global market. This segment is likely to grow at a CAGR of over 13% during the assessment period. Biotech vendors are the 2nd largest end-users in the global market, and this segment is projected to surpass US$ 1 Bn in revenue by the end of forecast period.

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North America continues to be one of the most important markets for cloud based drug discovery globally. The market in North America is led by the US, whereas Canada accounts for a minority share of the market. The US has an upper hand globally owing to the advancements made in the years on cloud computing and artificial intelligence. Additionally, awareness on the opportunities available in the cloud based drug discovery market among American pharmaceutical companies is also fuelling investments. The report projects North America to be one of the most important markets for cloud based drug discovery during the assessment period. In addition to North America, Asia Pacific cloud based drug discovery market is also likely to witness rapid gains during the assessment period. The market in APAC is projected to grow at a CAGR of over 16% during the assessment period.

The report also offers a detailed competitive landscape, highlighting the key business and product strategies of some of the leading players in the market. According to the report, Tata Consultancy Services Limited, IBM Corporation, SAS Institute Inc., BioXcel Corporation, Accenture PLC, Cloud Pharmaceuticals Inc., WuXi AppTec (Sanghai) Co. Ltd., Dassault System, Acelot, Inc are some of the leading companies in the global market.

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