Cloud Based Drug Discovery Platform Market: Global Industry Analysis And Forecast (2023-2029)

Cloud Based Drug Discovery Platform Market size was estimated at USD 2.35 Billion in 2022 and is projected to grow at a CAGR of 14.65 % to reach USD 6.11 Billion by 2029.

Cloud Based Drug Discovery Platform Market Overview:

A drug discovery platform is a center for R&D where treatments for many ailments are found. Currently, digital technologies are being adopted widely in the drug discovery platform. The popularity of cloud-based drug discovery systems is growing as it enables major businesses to store massive amounts of data conveniently and affordably.Cloud Based Drug Discovery Platform MarketTo know about the Research Methodology :- Request Free Sample Report The Cloud Based Drug Discovery Platform Market research contains in-depth details on variables influencing demand, growth, opportunities, challenges, and restrictions. It provides in-depth information on the structure and outlook for both global and regional industries. The report also includes data on R&D, the introduction of new products, and product reactions from the local and global markets by leading players. The structured analysis offers both a graphical and diagrammatic breakdown of the Cloud-Based Drug Discovery Platform Market by region.

Cloud Based Drug Discovery Platform Market Dynamics:

The MMR report offers a thorough analysis of the market for cloud based drug discovery platforms by focusing on data on various factors, such as drivers, constraints, opportunities, and threats. Before making an investment, stakeholders can use this knowledge to make wise decisions. The ongoing advancement of technology is boosting the global market for could-based drug discovery platforms. It helps to provide users with cutting-edge features. Anyone can use a laptop, a PC, or a mobile device to access the cloud-based drug discovery platforms. It is safe and has a third-party maintenance option. Additionally, it is anticipated that increasing investments in medication discovery and development will help the market under study grow as the prevalence of various diseases rises. In the last ten years alone, biopharmaceutical companies have invested more than a trillion dollars in research and development, including a record-breaking year in 2020 when PhRMA member companies alone invested about USD 91 billion in research and development, according to a report released by the Pharmaceutical Research and Manufacturers of America (PhRMA) in September 2022. In addition, according to the same source, more than 8,000 medications were in development globally in 2022, with 74% of them having the potential to be first-in-class therapies or wholly unique approaches to treating a condition. Therefore, the adoption of cloud services in the drug discovery, development, and manufacturing is expected to increase over the forecast period, which will boost growth in the studied market. This is due to the significant investment in the drug discovery and development initiative as well as the advantages offered by cloud solutions. However, throughout the anticipated period, the market for cloud-based solutions for drug research, development, and manufacturing is anticipated to have growth restraints due to the high initial cost of adoption and deployment of cloud solutions and cybersecurity concerns.

Cloud Based Drug Discovery Platform Market Segmentation:

The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the cloud based drug discovery platform market size. Cloud Based Drug Discovery Platform Market Pharmaceutical Companies segment is expected to grow at the fastest rate during the forecast period. Globally, the pharmaceutical company’s segment is estimated to grow at the highest rate by 2029. The market expansion of the cloud-based drug discovery platform is anticipated to be driven by the ongoing increase in drug demand from different pharmaceutical businesses. The pharmaceutical sector is quickly changing its discovery business model to fully integrated, networked R&D, where significant portions of the discovery process are carried out through external collaborators and contract research companies (CROs). Due to this rapid transition, it will be extremely difficult to put in place the tools required to enable collaborative research, ensure that these networks can function effectively, spur innovation, and reduce the cost of drug development.

Cloud Based Drug Discovery Platform Market Regional Insights:

The MMR report offers a brief analysis of the major regions in the market, namely, Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. North American Vendors Are Focusing on Adopting Cloud Platforms To Speed Up Their Drug Development Process. Pharmaceutical and biotech companies in North America are focusing 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 organizations and contract research organizations. The U.S. has been at the forefront of AI technology since its inception. Due to IBM's usage of their supercomputer "Watson" to win the game "Jeopardy," the business has since improved on the concept of AI. The tech sectors have made AI a significant component, and it is commonly used in a variety of fields, including the pharmaceutical industry. To accelerate drug discovery, design, and repurposing, major tech giants in the United States have all partnered with esteemed institutions. Additionally, they are utilizing AI to investigate disorders and draw pertinent conclusions that can enhance disease management. The Cleveland Clinic Global Center for Pathogen Research & Human Health, for instance, will be constructed using IBM Hybrid Cloud, High Performance Computing, Artificial Intelligence, and Quantum Computing technologies as part of a groundbreaking 10-year partnership agreement between the Cleveland Clinic and IBM to advance healthcare and life science research. The United States is therefore anticipated to have a sizable share in the market for cloud-based solutions for drug research, development, and manufacturing throughout the study's forecast period in the North America region as a result of the aforementioned factors. European Healthcare Organizations Are Utilizing Cutting-Edge Cloud Technologies: European pharmaceutical businesses are progressively adopting cloud-based technology to help their scientists and their work, as well as the study of human genome alterations for enhancing the medication discovery process in cancer research. More patient-beneficial aspects of pharmaceutical design are being studied by scientists. 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. Asian Life Sciences Companies Are Adopting Clinical Cloud Platforms To Introduce Innovative Technologies: Clinical cloud platforms are being adopted by life sciences firms in the APAC region in order to introduce cutting-edge technology with increased operational effectiveness, productivity, and clinical trial speed. Platforms for clinical cloud computing provide better services and give the drug development process fresh life. Clinical cloud platforms also assist life sciences businesses in hastening the patient delivery of their innovative treatments. To meet the fundamental requirements of their scientific workforce, which increasingly relies on mobile communication and social networking to increase work productivity, life sciences organizations are seeking creative, cloud-based research solutions. Researchers can share data and knowledge more effectively and effectively thanks to cloud-based mobile information management. Life sciences organizations can safely migrate their crucial legacy applications to the cloud with the help of simple on-premise system integration with the bi-directional cloud. The objective of the report is to present a comprehensive analysis of the global Cloud Based Drug Discovery Platform Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Cloud Based Drug Discovery Platform Market dynamic, and structure by analyzing the market segments and projecting the Cloud Based Drug Discovery Platform Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Cloud Based Drug Discovery Platform Market make the report investor’s guide.

Cloud Based Drug Discovery Platform Market Scope: Inquire before buying

Global Cloud Based Drug Discovery Platform Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US$ 2.35 Bn.
Forecast Period 2023 to 2029 CAGR: 14.65 % Market Size in 2029: US$ 6.11 Bn.
Segments Covered: by Type PaaS (Platform as a Service) SaaS (Software as a Service) IaaS (Infrastructure as a Service)
by Application Pharmaceutical Companies Hospitals Biotech Vendors Contract Research Organizations

Cloud Based Drug Discovery Platform Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Cloud Based Drug Discovery Platform Market, Key Players are

1.Accenture PLC 2. Acelot, Inc. 3. Cloud Pharmaceuticals, Inc. 4. Dassault Systemes 5. IBM Corporation 6. SAS Institute, Inc. 7. Tata Consultancy Services Ltd. 8. WuXi AppTec 9. BioXcel 10. Selvita S.A. 11. BIOVIA Ltd. 12. Conifer Point 13. GenScript Biotech Corporation Frequently asked questions: 1. What is the market growth of the Cloud Based Drug Discovery Platform Market? Ans. The Cloud Based Drug Discovery Platform Market was valued at USD 2.35 Bn in 2022 and is expected to reach USD 6.11 Bn by 2029, at a CAGR of 5 14.65 % during the forecast period. 2. Which are the major key players in the Cloud Based Drug Discovery Platform Market? Ans. The key players in this market Accenture PLC, Acelot, Inc. and Cloud Pharmaceuticals, Inc. 3. Which region is anticipated to account for the largest market share? Ans. North America is anticipated to dominate the Cloud Based Drug Discovery Platform Market, 4. what is the forecast period for the Cloud Based Drug Discovery Platform Market? Ans. The forecast period for the Cloud Based Drug Discovery Platform Market is from 2023 to 2029. 5. what is the segment in which the  Market is divided? Ans. The Cloud Based Drug Discovery Platform Market is fragmented based on Type, and Application.
1. Global Cloud Based Drug Discovery Platform Market: Research Methodology 2. Global Cloud Based Drug Discovery Platform Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Cloud Based Drug Discovery Platform Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Cloud Based Drug Discovery Platform Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Cloud Based Drug Discovery Platform Market Segmentation 4.1 Global Cloud Based Drug Discovery Platform Market, By Type (2022-2029) • PaaS (Platform as a Service) • SaaS (Software as a Service) • IaaS (Infrastructure as a Service) 4.2 Global Cloud Based Drug Discovery Platform Market, By Application (2022-2029) • Pharmaceutical Companies • Hospitals • Biotech Vendors • Contract Research Organizations 5. North America Cloud Based Drug Discovery Platform Market (2022-2029) 5.1 North America Cloud Based Drug Discovery Platform Market, By Type (2022-2029) • PaaS (Platform as a Service) • SaaS (Software as a Service) • IaaS (Infrastructure as a Service) 5.2 North America Cloud Based Drug Discovery Platform Market, By Application (2022-2029) • Pharmaceutical Companies • Hospitals • Biotech Vendors • Contract Research Organizations 5.3 North America Cloud Based Drug Discovery Platform Market, by Country (2022-2029) • United States • Canada • Mexico 6. Asia Pacific Cloud Based Drug Discovery Platform Market (2022-2029) 6.1. Asia Pacific Cloud Based Drug Discovery Platform Market, By Type (2022-2029) 6.2. Asia Pacific Cloud Based Drug Discovery Platform Market, By Application (2022-2029) 6.3. Asia Pacific Cloud Based Drug Discovery Platform Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Cloud Based Drug Discovery Platform Market (2022-2029) 7.1 Middle East and Africa Cloud Based Drug Discovery Platform Market, By Type (2022-2029) 7.2. Middle East and Africa Cloud Based Drug Discovery Platform Market, By Application (2022-2029) 7.3. Middle East and Africa Cloud Based Drug Discovery Platform Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. South America Cloud Based Drug Discovery Platform Market (2022-2029) 8.1. South America Cloud Based Drug Discovery Platform Market, By Type (2022-2029) 8.2. South America Cloud Based Drug Discovery Platform Market, By Application (2022-2029) 8.3. South America Cloud Based Drug Discovery Platform Market, by Country (2022-2029) • Brazil • Argentina • Rest of South America 9. European Cloud Based Drug Discovery Platform Market (2022-2029) 9.1. European Cloud Based Drug Discovery Platform Market, By Type (2022-2029) 9.2. European Cloud Based Drug Discovery Platform Market, By Application (2022-2029) 9.3. European Cloud Based Drug Discovery Platform Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 10. Company Profile: Key players 10.1. Accenture PLC 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Acelot, Inc. 10.3 Cloud Pharmaceuticals, Inc. 10.4 Dassault Systemes 10.5 IBM Corporation 10.6 SAS Institute, Inc. 10.7 Tata Consultancy Services Ltd. 10.8 WuXi AppTec 10.9 BioXcel 10.10 Selvita S.A. 10.11 BIOVIA Ltd. 10.13 Conifer Point 10.14 GenScript Biotech Corporation
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