Quantum Computing In Drug Discovery: Market Overview

The global quantum computing market size is estimated to grow from USD 0.36 billion in 2023 to USD 1.63 billion by 2035, representing a CAGR of 13% during the forecast period 2023-2035.

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The early stages of research related to drug discovery, including the identification of a relevant biological target and a viable lead compound, play an important role in the overall success of a drug candidate in preclinical and clinical studies. The process of drug development, beginning from the discovery of a pharmacological lead to its commercial launch, is estimated to take around 10-15 years, involving capital investments in the range of USD 4 billion - USD 10 billion. Over time, the complexities associated with drug discovery have increased, specifically, for large molecules, which are inherently more complex than small molecule drugs. In order to overcome various challenges related to drug discovery, such as rising capital requirements and failure of late-stage programs, several pharmaceutical players are currently exploring the implementation of quantum computing in drug discovery processes.