Quantum computing Market Share, Global Industry Size, Trends, Technology, and Analysis by 2035
Drug discovery has always been a time-consuming process. On an average, it takes 10-15 years and capital investments worth USD 4-10 billion to commercially launch a drug.
The global quantum computing market size is estimated to grow from USD 0.39 billion in 2024 to USD 1.63 billion by 2035, representing a CAGR of 13.86% during the forecast period till 2035.
It involves various processes such as target identification, validation, hit generation, hit to lead and lead optimization. The term quantum computing refers to the technology that uses laws of quantum mechanics to solve large and complex problems in a short span as compared to the computer aided drug discovery. During our research, we were able to identify the presence of about 50 software providers that are engaged in offering services across drug discovery.
Majority of the quantum computing software providers (45%) engaged in this domain were established post-2016. This is indicative of the growing interest of stakeholders in this domain. Examples of recently established companies include (post-2019, in alphabetical order) Algorithmiq (202, Kuano (202, Polaris Quantum Biotech (202, Qubit Pharmaceuticals (202 and Qunova Computing (2021). Additionally, 16% companies have entered this domain before 2000, indicating that the market is driven by efforts of well-established players as well.
Further, it was observed that majority of players offer platform / software (98%) as a business capability followed by Quantum as a Service (69%). In addition to this 10% of the players offer platform capabilities for Drug Discovery and Drug Design.
Majority (86%) of the players offer target discovery / identification as a drug discovery service followed by lead optimization (63%); examples of players offering all types of drug discovery service(s) include (in alphabetic order) Allesh Biosciences Lab, Hafnium Labs, Profacgen, Qsimulate and Roviant Discovery.
The current market landscape is dominated by the presence of small companies (67%). Notable examples include (in alphabetical order) Aliro Quantum, Aqemia, Cloud Pharmaceuticals, Hafnium Labs, Phoremost and Qulab.
In addition, the maximum number (19) of players are located in the US, followed by UK (5). Further, within the Asia-Pacific region, India emerged as the leading country, with the presence of four companies, including (in alphabetical order) Allesh Biosciences Lab, QpiAI, Qulab and Xanadu.
Further, quantum computing software providers, focuses on various therapeutic area(s) primarily includes oncological disorders (67%) followed by infectious diseases (62%). It is worth noting that Denovicon Therapeutics offers software focusing on all types of therapeutic area(s).
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