The North America Quantum Computing in Healthcare Market would witness market growth of 44.2% CAGR during the forecast period (2023-2030).
With the help of a rapidly evolving technology called quantum computing, more complicated problems can be solved by conventional computers while still adhering to the principles of quantum mechanics. It has been possible to perform calculations based on quantum mechanics using a quantum computer. Regarding speed, bits, and data, it is distinct from traditional computing. Instead of the two bits employed by conventional computing, the system utilizes all states between 0 and 1, producing superior results and processing data more quickly. The system's main use is to compare different solutions to difficult situations and select the best one.
Quantum computing is a swiftly expanding field of technology. The number of patent applications for quantum technologies has dramatically increased in recent years submitted by different companies throughout the region, which can aid in assessing the development of the quantum ecosystem. Patents and investments are improving the future by developing better technologies. As an example, AMD filed a teleportation patent in September 2021 to encourage quantum computing. It is predicted that the method described in the patent will resolve the scalability and stability difficulties by decreasing the number of qubits that are necessary for accurate calculations.
The demand for precision medicine is also rising as autoimmune illnesses become more common in Canada. According to Statistics Canada, 19.3% of Canadians aged 15 or older (or roughly 5.7 million) reported having arthritis in 2017. This chronic condition affected 16.0% of men and 22.4% of women. Canada is a major market, with an increased focus on developing cutting-edge healthcare platforms and technology. Specific treatments are currently being researched and developed across the country by numerous academic institutions and biotechnology companies. As a result, the region offers the market a profitable opportunity for expansion.
The US market dominated the North America Quantum Computing in Healthcare Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $378,620.6 Thousands by 2030. The Canada market is poised to grow at a CAGR of 47.4% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 46.2% during (2023 - 2030).
Based on Deployment, the market is segmented into On-premise, and Cloud. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Technology, the market is segmented into Superconducting Qubits, Trapped Ions, Quantum Annealing, and Others. Based on Application, the market is segmented into Drug Discovery & Development, Medical Diagnostics, Genomics & Precision Medicine, Radiotherapy, Risk Analysis, and Others. Based on End User, the market is segmented into Pharmaceutical & Biopharmaceutical Companies, Labs & Research Institutes, Healthcare Providers, and Healthcare Payers. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Quantum Computing in Healthcare Market is Projected to reach USD 1 Billion by 2030, at a CAGR of 45.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, RIGETTI COMPUTING, INC., ID Quantique SA, D-Wave Systems Inc., Google LLC (Alphabet Inc.), Protiviti Inc. (ROBERT HALF INTERNATIONAL INC.), Deloitte Touche Tohmatsu Limited, Accenture PLC and Atos Group.
By Deployment
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By End User
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