According to Persistence Market Research estimations, the global cloud-based drug discovery platform market is projected to be valued at US$ 1,601.1 Mn by the end of 2017 and is expected to reach a market valuation of US$ 4,323.5 Mn by the end of the forecast period in 2025, witnessing a CAGR of 13.2% in terms of value during the forecast period.
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Company Profiles:
- IBM Corporation
- Accenture PLC
- Tata Consultancy Services Limited
- SAS Institute Inc.
- BioXcel Corporation
- Cloud Pharmaceuticals Inc.
- WuXi AppTec (Sanghai) Co. Ltd.
- Dassault System
- Acelot, Inc
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Global Cloud-based Drug Discovery Platform Market: Dynamics
Revenue drivers
- Increasing adoption of cloud-based platforms in the healthcare industry to enhance research efficiency
- Traction in the adoption of machine learning and artificial intelligence for drug discovery
- Regional healthcare companies adopting cloud-based technologies for collaboration with international healthcare market players
Growth challenges
- Concerns regarding infrastructure compatibility issues
- Issues pertaining to interoperability of applications with devices
Market trends
- Upsurge in the implementation of cloud-based platforms in the healthcare sector across the North America region
- Rising adoption of cloud-based mobile applications for collaborative drug discovery
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Global Cloud-based Drug Discovery Platform Market: Forecast by End User
The global cloud-based drug discovery platform market is segmented on the basis of end user into Pharmaceutical Vendors, Biotech Vendors, Contract Research Organizations, and Others. Pharmaceutical Vendors is expected to be the largest segment in terms of revenue, with a CAGR of 13.4%. Biotech Vendors is the second largest segment in terms of value, estimated to reach a market valuation of US$ 1,247.8 Mn by the end of 2025.
Global Cloud-based Drug Discovery Platform Market: Forecast by Region
Persistence Market Research tracks the performance of the global cloud-based drug discovery platform market across the key regions of North America, Latin America, Europe, Asia Pacific, and MEA. In terms of value, North America is projected to be the most attractive market in the global cloud-based drug discovery platform market during the forecast period. The North America regional market for cloud-based drug discovery platforms is estimated to hold more than 35% value share by the end of the forecast period in 2025. However, the market in APAC is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the APAC cloud-based drug discovery platform market is expected to expand at a CAGR of 16.7% during the forecast period.
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