Cloud-Based Solutions for Drug Discovery, Development and Manufacturing – Global Industry Outlook, 2022-2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Cloud-Based Solutions for Drug Discovery, Development, and Manufacturing Market – Growth, Trends, COVID-19 Impact, and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.
The global cloud-based solutions market for drug discovery, development and manufacturing is expected to register a CAGR of 12.5% during the study’s forecast period.
As the effect of the COVID-19 pandemic grows worldwide, biotech and pharmaceutical companies as well as other healthcare organizations have launched intensive research to learn more about the novel coronavirus, and the cloud technologies were one of the most important tools in understanding the virus and in the discovery and development of vaccines and drugs against this disease and are expected to have a significant impact on the market. For example, according to the June 2020 article published by Ashima Gupta and Joe Corkery, Schrodinger, a Google Cloud user, has partnered with Takeda, Novartis, Gilead Sciences, and WuXi AppTec in a charitable effort to share ideas, resources and data. in an effort to find antiviral treatments for the coronavirus.
Schrodinger, whose physics-based software platform facilitates the development of unique, high-quality compounds for therapies and materials, will use Google Cloud credits to enable rapid investigation and testing of potential new pharmaceuticals as part of This agreement. Additionally, the high investment by pharmaceutical companies in the coronavirus drug discovery and development initiative is further expected to impact the market for cloud-based solutions for drug discovery, development and manufacturing .
Growing investment in drug discovery, development, and manufacturing by pharmaceutical, biopharmaceutical, and other entities, as well as increasing adoption of cloud services for these activities, are the major drivers for the growth of the market. The adoption of cloud services for drug discovery, development and manufacturing is increasing due to various benefits offered by cloud technology, for example, cloud services could help in streamlining operations and developing analytics to determine whether a drug is likely to be useful and financially viable, or not.
Also, according to the study published by Olivier J. Wouters et. al., in March 2020, in the base case analysis, the median capitalized research and development investment to bring a new drug to market was estimated at $985.3 million, with an average investment of $1335.9 million USD, and estimates varied by therapeutic area, with cancer drug development costs being the highest. This high cost associated with research and development of new drugs can be significantly reduced by deploying cloud services as it speeds up drug discovery and development procedures and minimizes the chance of errors during the process, and due to This factor, the adoption of cloud drug discovery, development and commercialization services is increasing which is expected to drive the growth of the market studied over the forecast period. For example, in December 2021, Pfizer Inc. and Amazon Web Services (AWS) agreed to collaborate on the development of new cloud-based technologies that could revolutionize the way new drugs are researched, manufactured, and delivered for clinical trials.
Furthermore, the increasing investment for drug discovery and development with the growing prevalence of various diseases is further expected to have a positive impact on the growth of the market studied. For example, according to a report published by Pharmaceutical Research and Manufacturers of America (PhRMA) in September 2021, biopharmaceutical companies have invested more than $1 trillion in research and development in the past decade alone, including a record year in 2020, when PhRMA member companies alone invested approximately $91 billion in research and development.
Additionally, according to the same source, there were more than 8,000 drugs in development globally in 2021, 74% of which had the potential to be first-class treatments or completely new ways to treat a disease. Thus, due to the large investments in drug discovery and development initiative coupled with the advantages offered by cloud solutions, the adoption of cloud services in drug discovery, development and manufacturing is expected to increase over the course of the year. forecast period, which will drive growth in the countries studied. market.
However, the high initial cost of implementing and deploying cloud solutions and cybersecurity issues are expected to restrain the market growth of cloud-based solutions for drug discovery, development and manufacturing over the period. forecast.
Main market trends
Private cloud is expected to hold a large share during the forecast period
North America is expected to hold a large share during the forecast period
The market for cloud-based solutions for drug discovery, development and manufacturing is quite competitive with the presence of several players in the global market, and with the advancements in technology and funding, the new entrants in the market are expected to increase the competitive landscape in the field studied. market over the forecast period of the study. Some of the major players in the cloud-based solutions market for drug discovery, development and manufacturing are International Business Machines (IBM) Corporation, Oracle, Amazon Web Services, Google and Tata Consultancy Services among others.
Main topics covered
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase investment in drug discovery, development and manufacturing
4.2.2 Growing Adoption of Cloud Technology in Drug Discovery, Development and Manufacturing Market
4.2.3 Growing Burden of Chronic Disease
4.3 Market Constraints
4.3.1 High Cost of Implementing and Deploying Various Cloud Technologies
4.3.2 Cybersecurity issues
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 Kind of service
5.1.1 Software as a Service (SaaS)
5.1.2 Platform as a Service (PaaS)
5.1.3 Infrastructure as a Service (IaaS)
5.2 Type of cloud
5.2.1 Public cloud
5.2.2 Private cloud
5.2.3 Hybrid cloud
5.3.1 Drug discovery and development
5.3.2 Manufacture of drugs
5.4 End user
5.4.1 Biotechnology and pharmaceutical companies
5.4.2 Contract Research Organizations (CROs)
5.5.1 North America
5.5.4 Middle East and Africa
5.5.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Amazon Web Services
6.1.6 Veeva Systems
6.1.7 Tata Consulting Services
6.1.8 Aris Global
6.1.11 Alibaba Group
6.1.12 Cloud Pharmaceuticals Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/2c0oyd