Quantum Computing in Healthcare Market worth $503 million by 2028 - Exclusive Report by MarketsandMarkets™

[Snehal Shaha]

The report "Quantum Computing in Healthcare Market by Component (Hardware, Software), Deployment (0n-premises, Cloud-based), Technology (Superconducting qubits, Trapped ions), Application (Drug discovery, Genomics), End User, and Region - Global Forecast to 2028", is projected to reach USD 503 million by 2028 from USD 85 million in 2023, at a high CAGR of 42.5% during the forecast period.
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The increasing investments in quantum computing in developed as well as emerging economies, growing inclination of payers toward quantum computing, rising demand for personalized medicine, and rise in funding and investments in quantum computing startups are some of the key factors expected to drive market growth during the forecast period.
Superconducting Qubits segment accounted for the largest share of the quantum computing in healthcare market, By Technology
In 2022, the superconducting qubits segment accounted for the largest share of the quantum computing in healthcare market. The large share can be attributed to the low power consumption, high speed, and the ability to operate at low temperatures.Also, high degree of control possible with this type of qubit, they can be used for variety of healthcare applications, such as quantum simulation, cryptography, and quantum computing.
Healthcare payers segment is expected to register the highest CAGR by end user of quantum computing in healthcare market
The healthcare payers segment is expected to register the highest CAGR by end user of the quantum computing in healthcare market. The growth of the segment can be attributed to the growing number of potential applications for health insurers like pricing, fraud detection, diagnostics/member experience.The quantum computing also plays a major role in developing more granular risk models that compute financials more efficiently, improve health outcomes and ultimately reducing healthcare costs.
North America dominated the quantum computing in healthcare market in 2022
North America accounted for the largest share of the quantum computing in healthcare market. The large share of North America can be attributed to the increasing government funding & investments for quantum computing, and growing number of quantum computing companies catering to the healthcare industry in the region.
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IBM (US), Google, Inc. (US), Rigetti & Co, LLC. (US), Quandela (France), D-Wave Quantum Inc. (Canada), Quantinuum, Ltd. (US & UK), ID Quantique (Switzerland), Zapata Computing (US), Atos SE (France), IonQ (US), Classiq Technologies, Inc. (US), Xanadu Quantum Technologies Inc. (Canada), QC Ware (US), Protiviti, Inc. (US), Hefei Origin Quantum Computing Technology Co., Ltd. (China), PwC (UK), Deloitte (UK), Accenture (Ireland), Amazon Web Services (US), Pasqal (France), Fujitsu (Japan), Sandbox AQ (US), SEEQC (US), Quintessence Labs (Australia), and Qnami (Switzerland) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.