According to a new report, published by KBV research, The Global Quantum Computing in Healthcare Market size is expected to reach $1 Billion by 2030, rising at a market growth of 45.4% CAGR during the forecast period.
The Cloud segment is showcasing a CAGR of 46.3% during (2023 - 2030). The cloud-based deployment of quantum computing in healthcare has a number of advantages. Without incurring much expense, healthcare institutions can use cloud-based deployment to access quantum computing capabilities and resources. Healthcare businesses can leverage quantum computing resources as required owing to the scalability, agility, and accessibility of cloud-based deployment models. They can access services for quantum computing through cloud service providers.
The Hardware segment is leading the Global Quantum Computing in Healthcare Market by Component in 2022 thereby, achieving a market value of $480.4 Million by 2030. To enable the control, programming, and reading out of qubits in a quantum computer, an integrated hardware method involving a large amount of conventional hardware is required. Moreover, because of the qubits' sensitivity to noise and decoherence, error correction is a crucial component of quantum computing. Hardware developments are essential for creating fault-tolerant designs and error-correction methods and enhancing qubits' general reliability and stability.
The Trapped Ions segment has shown the growth rate of 45.7% during (2023 - 2030). These are devices used for restricting charged particles to a confined space. Ion traps are mainly of two types: Paul traps and Penning traps. Paul traps contain ions using an electric quadrupole radio frequency field, while Penning traps do it using a static electric quadrupole field as well as a static magnetic field. The charged particles can be kept in the trapping volume indefinitely for the correct field values. Trapped ions can carry out a variety of quantum operations, including single-qubit rotations, multi-qubit operations, and two-qubit entangling gates.
The Drug Discovery & Development segment is generating highest revenue share in the Global Quantum Computing in Healthcare Market by Application in 2022 thereby, achieving a market value of $379.3 Million by 2030. The discovery of new medications is one of the most fascinating and important applications of quantum computing in the medical field. Quantum computing can considerably speed up the drug development process by optimizing drug candidate selection, predicting drug-target interactions, and simulating molecular interactions. It costs money, takes time, and requires study and experimentation to find new drugs the conventional way.
The Healthcare Payers segment is poised to grow at a CAGR of 47.1% during (2023 - 2030). The expansion of the segment can be credited to the increasing variety of potential uses for health insurers, such as pricing, fraud detection, diagnostics, and member experience. In order to compute financials more effectively, improve health outcomes, and eventually lower healthcare expenditures, more detailed risk models can be developed with the help of quantum computing.
The North America market dominated the Global Quantum Computing in Healthcare Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $528.4 Million by 2030. The Europe market is experiencing a CAGR of 46.1% during (2023 - 2030). Additionally, The Asia Pacific market would exhibit a CAGR of 46.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/quantum-computing-in-healthcare-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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