Cloud-based Drug Discovery Platform Market 2022
According to Persistence Market Research estimations, the global cloud-based drug discovery platform market is projected to be valued at US$ 1,601.1 Mn by the end of 2017 and is expected to reach a market revenue of US$ 4.32 Bn by the end of the forecast period in 2025, witnessing a CAGR of 13.2% in terms of value during the forecast period.
A new report by Persistence Market Research presents interesting facets of the global cloud-based drug discovery platform market and provides value forecasts for an eight year period from 2017 to 2025. The report titled ‘Cloud-based Drug Discovery Platform Market: Global Industry Analysis (2012 – 2016) and Forecast (2017–2025)’ is a comprehensive take on the global cloud-based drug discovery platform market and highlights the different factors anticipated to impact market revenue growth during the said period.
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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
Key Companies-
- 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.
- Others.
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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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