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.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

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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.

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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.
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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

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