[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:
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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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.
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.
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.
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.
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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.
Various cloud based drug discovery platform market trends are elicited by innovative start-ups taking birth in the market.
Examples:
This start-up allows for the differentiation of biomarkers, recruitment of suitable patients, and identification of the most advantageous chances for companion diagnostics.
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.
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.
Report Attribute | Details |
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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 |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Customization | Available Upon Request |
The global cloud based drug discovery platform market is likely to advance at 12.6% CAGR (2022-2032).
North America is projected to lead the cloud based drug discovery platform market with a share of 37.5% in 2022.
Cloud based drug discovery platform market is anticipated to account for US$ 7529.588961 million by 2032.
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
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