Cloud Based Drug Discovery Platform Market & Trends

A Summary of the Cloud Based Drug Discovery Platform Market Development

[333 Pages Report] The global cloud based drug discovery platform market is projected to have a fast-paced CAGR of 12.6% during the forecast period. The current valuation of the market is US$ 2,424.33 Mn in 2022. The market value of the global cloud based drug discovery platform market is anticipated to reach a high of US$ 7,529.59 Mn by the year 2032. This growth is supported by:

Increasing investment in drug discovery, development, and manufacturing by pharmaceutical, biopharmaceutical, and other entities along with the growing adoption of cloud services for these activities are the major growth driving factors for the market.
Cloud technology offers various benefits that could aid in streamlining operations, and the development of business cases to determine whether a medicine is likely to be useful and financially viable, or not, which is aiding the adoption of these discovery platforms for discovery, development, and manufacturing.
High costs associated with the research and development of a new drug can be significantly reduced by deploying cloud services as it accelerates drug discovery and development procedures, and minimizes the chances of errors during the process.
Growing investment in drug discovery and development with the growing prevalence of various diseases is further expected to have a positive impact on the growth of the studied market.

Although the market is having healthy growth, it is anticipated by the expert analysts at FMI that the high initial cost of implementation and deployment of cloud solutions and cybersecurity concerns are expected to restrain growth in the cloud-based drug discovery platform market. Coupled with a lack of data sets in the field of drug discovery and inadequate availability of skilled labor.

Report Attribute	Details
Cloud Based Drug Discovery Platform Value (2022)	US$ 2424.326128 million
Cloud Based Drug Discovery Platform Market Anticipated Forecast Value (2032)	US$ 7529.588961 million
Cloud Based Drug Discovery Platform Market Projected Growth Rate (2022-2032)	12.6%

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Overview of Prospects in Diverse Regions

North America is projected to dominate the global cloud based drug discovery platform market during the estimated period of study. Currently, this region is accountable for a market share of 37.5% in 2022 and is likely to exert dominance throughout.

It is estimated that the biotech and pharmaceutical vendors in this region are focusing on boosting their drug development process using cloud platforms. Without compromising on safety, these platforms are providing better access to data from healthcare companies, along with contact research organizations during the R&D processes.

Additionally, the European region is also having a steady growth pace, accounting for a market share of 22.1% in 2022. Healthcare companies in Europe are implementing advanced cloud technologies such as machine learning and artificial intelligence platforms to gain optimized R&D outcomes. AI algorithms are being used to design bi-specific drugs that can be used simultaneously to bind more than one target.

Manufacturers Stirring Up the Market Dynamics

The key players are continually making efforts to strengthen their foothold in the global cloud based drug discovery platform market. They are adopting organic growth strategies like mergers and acquisitions, collaborations, product launches, and more, to further expand the global share of the forum in the upcoming years. For instance, Benevolent AI, technically reached its ‘unicorn status’ recently, when it achieved a valuation of US$ 1.7 billion. The firm is working on its drug candidates, along with various partnerships with big pharma companies like AstraZeneca and Novartis.

Therefore, it is anticipated while analyzing the market in depth that the demand for cloud-based drug discovery platforms is likely to witness an upsurge during the forecast period.

Currently, the drug discovery platform is witnessing massive adoption of digital technologies such as publishing and sharing services are being offered to users, which in turn is shaping the cloud based drug discovery platform market future trends. Moreover, cloud-based drug discovery platforms are gaining traction as it gives key players the opportunity of storing huge data conveniently and in a cost-effective manner.

The benefits of cloud-based drug discovery platforms are enormous, and this is one of the key factors why it is gaining traction among end-users, in turn enhancing the overall market. Cloud based drug discovery platform adoption trends are swayed by the security and collaborative project management and the ability provided by it to share project information. Moreover, the cloud-based drug discovery platform is flexible to offer end-users to customise it according to their projects.

Cloud-based drug discovery platform is accessible through computers, notebook, and mobiles, and it is secure and can be maintained by a third party as well, encouraging many to opt for the same. In addition, this platform helps customers overcome many challenges by leveraging a network of web and mobile-accessible applications, thereby spurring the demand for cloud based drug discovery platform.

Data management is a critical issue for the pharmaceutical industry and the industry is rapidly restructuring its discovery business model to completely networked and integrated research and development in order to manage the huge data it generates. Storing this data on cloud not only offers cost savings, but also improved accessibility, which is likely to positively impact the market outlook.

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What are the Key Cloud Based Drug Discovery Platform Market Dynamics?

Graphical representation, a dynamic and quick form of getting results, helps in decision-making at a management level. Keeping the needs of consumers in mind, key players in the cloud-based drug discovery platform are offering flexible, cost-effective, and highly secure cloud-based storage options to consumers, boosting the cloud based drug discovery platform market.

Cloud-based drug discovery platform runs at zero lag time, saving time and giving real-time access to users. This is another reason for the growing adoption of cloud based drug discovery platforms globally. However, confidentiality and privacy issues continue to impede the growth of the cloud-based drug discovery platform market. Although many improvements have been made in the recent past, cyber hacks continue to create apprehension among many pharma players, leading to stifled adoption.

What Factors are Contributing to North America’s Largest Cloud Based Drug Discovery Platform Market Share?

By 2022, North America is likely to capture cloud based drug discovery platform market share of 37.5%.

The market in the region is enhanced by pharmaceutical and biotech companies that are concentrating on adopting cloud platforms to speed up their drug development process without compromising safety.

Cloud systems make it simple for businesses to acquire real-time data anywhere in the world. During the R&D process, these platforms help improve access to data from healthcare organisations and contract research organisations.

What are the Growth Prospects for the Europe Cloud Based Drug Discovery Platform Market?

Europe cloud based drug discovery platform market is expected to get hold of 22.1% in 2022.

The adoption of cloud-based technology to support scientists and their work, as well as the study of human genome alterations for enhancing the drug development process for cancer research, is becoming a growing trend among European pharmaceutical companies.

Additionally, to achieve optimal R&D results, European healthcare organizations are using cutting-edge cloud technologies, including platforms for machine learning and artificial intelligence.

Bi-specific medications that can bind to multiple targets concurrently are being created using AI algorithms. This platform can help businesses increase the effectiveness of their drug discovery optimization and enhance difficult biological issues, and the same is likely to expand the cloud based drug discovery platform market size in the near future.

How is the Start-Up Ecosystem in the Cloud Based Drug Discovery Platform Market?

Various cloud based drug discovery platform market trends are elicited by innovative start-ups taking birth in the market.

Examples:

Amplion, USA based start-up founded in 2013, combines biology knowledge and biomarker expertise with AI to direct the strategic planning for biomarkers.

This start-up allows for the differentiation of biomarkers, recruitment of suitable patients, and identification of the most advantageous chances for companion diagnostics.

AI is used by ‘nference’, a start-up, to instantly extract knowledge from academic, professional, and regulatory literature.

This start-up allows for the elimination of research blind spots, the identification of competitive white space, and the discovery of disease phenotypic commonalities for clinical trial design.

What is the Competition Landscape in the Cloud Based Drug Discovery Platform Market?

Major players in the cloud based drug discovery platform market are involved in various strategies such as mergers & acquisitions, partnerships, collaborations, etc., thereby consolidating their market position.

One of the recent developments in the cloud based drug discovery platform market is when the provider of SaaS solutions for clinical data fitness, regulatory compliance, and submission preparedness, Pinnacle 21, was acquired by Certara, Inc., the world leader in bio-stimulation. This acquisition aids Certara in having an impact on the medication development process.

Key players

IBM Corp.
Accenture PLC
BioXcel Corporation
Cloud Pharmaceuticals, Inc.
WuXi AppTec (Shanghai) Co., Ltd.
Dassault Systemes
BIOVIA Ltd.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 12.6% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Types of Services Region
Regions Covered	North America Latin America The Asia Pacific Middle East and Africa Europe
Key Countries Profiled	U.S Canada Brazil Argentina Germany U.K France Spain Italy Nordics BENELUX Australia & New Zealand China India ASEAN GCC South Africa
Key Companies Profiled	IBM Corp. Accenture PLC BioXcel Corporation Cloud Pharmaceuticals, Inc. WuXi AppTec (Shanghai) Co., Ltd Dassault Systemes BIOVIA Ltd.
Customization	Available Upon Request

Key Segments Profiled in Cloud Based Drug Discovery Platform Market Survey

By Types of Services:

Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)

By Region:

North America
Latin America
The Asia Pacific
Middle East and Africa
Europe

Frequently Asked Questions

What is the Growth Outlook for the Cloud Based Drug Discovery Platform Market?

The global cloud based drug discovery platform market is likely to advance at 12.6% CAGR (2022-2032).

Which Region Holds a Major Cloud Based Drug Discovery Platform Market Share?

North America is projected to lead the cloud based drug discovery platform market with a share of 37.5% in 2022.

What is the Future of the Cloud Based Drug Discovery Platform Market?

Cloud based drug discovery platform market is anticipated to account for US$ 7529.588961 million by 2032.

Table of Content

1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Services
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis By Services, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Services, 2022-2032
5.3.1. Infrastructure as a Service
5.3.2. Platform as a Service
5.3.3. Software as a Service
5.4. Y-o-Y Growth Trend Analysis By Services, 2017-2021
5.5. Absolute $ Opportunity Analysis By Services, 2022-2032
6. Global Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) Analysis By Application, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Application, 2022-2032
6.3.1. Pharmaceutical Vendors
6.3.2. Biotech Vendors
6.3.3. Contract Research Organizations
6.3.4. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021
6.5. Absolute $ Opportunity Analysis By Application, 2022-2032
7. Global Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2017-2021
7.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2022-2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Country
8.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
8.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Services
8.2.3. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Services
8.3.3. By Application
8.4. Key Takeaways
9. Latin America Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Services
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Services
9.3.3. By Application
9.4. Key Takeaways
10. Europe Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Services
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Services
10.3.3. By Application
10.4. Key Takeaways
11. Asia Pacific Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Malaysia
11.2.1.5. Singapore
11.2.1.6. Australia
11.2.1.7. Rest of Asia Pacific
11.2.2. By Services
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Services
11.3.3. By Application
11.4. Key Takeaways
12. MEA Cloud Based Drug Discovery Platform Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Services
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Services
12.3.3. By Application
12.4. Key Takeaways
13. Key Countries Cloud Based Drug Discovery Platform Market Analysis
13.1. U.K.
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2021
13.1.2.1. By Services
13.1.2.2. By Application
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2021
13.2.2.1. By Services
13.2.2.2. By Application
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2021
13.3.2.1. By Services
13.3.2.2. By Application
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2021
13.4.2.1. By Services
13.4.2.2. By Application
13.5. Rest of Latin America
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2021
13.5.2.1. By Services
13.5.2.2. By Application
13.6. Germany
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2021
13.6.2.1. By Services
13.6.2.2. By Application
13.7. U.K.
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2021
13.7.2.1. By Services
13.7.2.2. By Application
13.8. France
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2021
13.8.2.1. By Services
13.8.2.2. By Application
13.9. Spain
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2021
13.9.2.1. By Services
13.9.2.2. By Application
13.10. Italy
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2021
13.10.2.1. By Services
13.10.2.2. By Application
13.11. Rest of Europe
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2021
13.11.2.1. By Services
13.11.2.2. By Application
13.12. China
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2021
13.12.2.1. By Services
13.12.2.2. By Application
13.13. Japan
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2021
13.13.2.1. By Services
13.13.2.2. By Application
13.14. South Korea
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2021
13.14.2.1. By Services
13.14.2.2. By Application
13.15. Malaysia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2021
13.15.2.1. By Services
13.15.2.2. By Application
13.16. Singapore
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2021
13.16.2.1. By Services
13.16.2.2. By Application
13.17. Australia
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2021
13.17.2.1. By Services
13.17.2.2. By Application
13.18. Rest of Asia Pacific
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2021
13.18.2.1. By Services
13.18.2.2. By Application
13.19. GCC Countries
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2021
13.19.2.1. By Services
13.19.2.2. By Application
13.20. South Africa
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2021
13.20.2.1. By Services
13.20.2.2. By Application
13.21. Israel
13.21.1. Pricing Analysis
13.21.2. Market Share Analysis, 2021
13.21.2.1. By Services
13.21.2.2. By Application
13.22. Rest of MEA
13.22.1. Pricing Analysis
13.22.2. Market Share Analysis, 2021
13.22.2.1. By Services
13.22.2.2. By Application
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Services
14.3.3. By Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. IBM Corp
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Accenture PLC
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. BioXcel Corporation
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Cloud Pharmaceuticals, Inc
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. WuXi AppTec Co Ltd
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Dassault Systems
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. BIOVIA LIFESCIENCES
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Acelot, Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. SAS Institute Inc.
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Tata Consultancy Services Limited
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology

Cloud Based Drug Discovery Platform Market

Cloud Based Drug Discovery Platform Market by Types of Services & Region - Forecast 2022 - 2032