The global quantum computing in healthcare market 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. The 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.
However, issues related to accuracy in quantum computing systems and high implementation costs are some of the key factors restraining the growth of the quantum computing in healthcare market.
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Prominent players in the quantum computing in healthcare market include 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). These companies adopted strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their market presence in the medical simulation market.
Rigetti is one of the leading companies that develop and offer full-stack quantum computing products through its wide portfolio to serve global enterprise, government, and research clients. The company mainly focuses on keeping its customers updated with the latest market trends such as progressions in quantum computers, chips, QCS platforms, and software tools. It designs and manufactures its chips in-house at Fab-1- the industry’s first dedicated and integrated quantum device manufacturing facility. The company is equipped to solve quantum challenges through its research & development (R&D) investments and strategic acquisitions. This, in turn, leads to new and attractive opportunities for Rigetti to register profitable growth in the coming years.
IBM has the largest fleet of more than 20 of the most powerful quantum systems in the world, offering hardware, software, and services for quantum computing to serve healthcare, and several other applications. IBM’s expertise helps navigate an increasingly interconnected and data-rich ecosystem and support the healthcare industry and those who deliver health and human services via telehealth or in person, to drive improvements in cost and quality, innovation, and outcomes. The company offers a unique combination of advanced technology solutions to drive impactful change, services to digitally transform organizations, and the ability to implement them at scale.
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
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