Cloud-based solutions for drug discovery, development and manufacturing market is projected to grow at a CAGR of 15.4%, claims Roots Analysis
The growing complexitiessurrounding modern therapy development initiatives have caused biopharmaceuticalcompanies to adopt available cloud-based solutions, to not only expediteassociated timelines, but also cuts down overall cost
RootsAnalysis has announced the addition of “Cloud-basedSolutions for Drug Discovery, Development and Manufacturing Market by Type ofCloud (Private, Public and Hybrid), Type of Service (Infrastructure as aService (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS)),End-User (Biotech Vendors, Contract Research Organizations, PharmaceuticalCompanies and Others), and Key Geographical Regions (North America, Europe,Asia, Middle East and North Africa, Latin America, and Rest of the World):Industry Trends and Global Forecasts, 2021-2030” report to its list of offerings.
Modern cloud-basedsolutions offer decentralized / real world data management, and collaborativeoperating solutions to users, enabling the simplification and delegation of variousaspects of data mining, analysis and healthcare decision-making. The implementation ofrelevant cloud-based solutions is deemed to possess the potential to save over50% of the total cost and time invested in a drug development program.
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Key Market Insights
More than 60 cloud-based service providers are presentlyoffering cloud-based solutions to pharma / biotech companies
Majority of these arelarge firms (500+ employees, 44%), followed by small (1-50 employees,32%), and mid-sized (51-500 employees, 24%) business entities.
Over 50 serviceproviders claim to offer cloud-based solutions for drug development
About 50% players areproviding cloud services for more than one area of application (drugdiscovery, drug development, or drug manufacturing) to pharma / biotechcompanies.
Nearly 30 serviceproviders claim to offer private cloud-based solutions to ensure data security
Interestingly, about25% players are offering all three types of cloud-based solutions (private,public and hybrid) to developer companies. Prominent examples of companiesoffering hybrid cloud include (in alphabetical order with no selectioncriteria) Informatica, Nutanix, QMENTA, Rescale, SureClinical, TataConsultancy Services and YASH Technologies.
Partnership activity in this field has grown at a CAGR of~75%, between 2015 and 2020
Around 70% of thereported deals were established after 2018, with the maximum activity beingreported in 2020. Majority of the instances captured in the report are researchagreements (32%) and platform development / improvement agreements (26%).
Adoption of cloud-based solutions has demonstrated theability to enable up to 50% cost savings
Based on inputs fromboth secondary and primary sources, the report features an informed andinsightful analysis, estimating cost saving potential of cloud-based solutions.In fact, the adoption of such technologies has the potential to save more thanUSD 30 billion in drug discovery, USD 13 billion in drug development and USD6.6 million in drug manufacturing related costs, by 2030.
North America, Europe and Asia are anticipated to capture over85% of the market share by 2030
Owing to increased adoption rates, the market in Asia isanticipated to grow at a relatively faster pace at a CAGR of 16%. In 2030, cloud-basedsolutions for drug development are likely to capture the largest market share(45%) in terms of revenues generated from use of such services, followed by thoseintended for drug discovery (35%) and drug development (20%) operations.
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Key Questions Answered
§ Who are the leadingplayers offering cloud-based solutions for drug discovery, development andmanufacturing?
§ What kind of cloudservices are commonly offered by companies in this domain?
§ What kind of partnershipmodels are commonly adopted by stakeholders in this industry?
§ What is the likelycost saving potential associated with the use of cloud-based solutions in drugdiscovery, development and manufacturing processes?
§ How is the currentand future opportunity likely to be distributed across key market segments?
§ What kind of performanceenhancements are possible by integrating artificial intelligence, deeplearning, machine learning and quantum computing, with existing cloud-basedsolutions?
§ What is the impact ofthe COVID-19 pandemic within this market?
The USD 20 billion(by 2030) financial opportunity within the cloud-based solutions for drugdiscovery, drug development and drug manufacturing market has been analyzedacross the following segments:
§ Type of Cloud
§ Type of Cloud Service
§ Area of Application
- Drug Discovery
- Drug Development
- Drug Manufacturing
- Biotech Vendor
- Contract Research Organizations
- Pharmaceutical Companies
§ Key Geographical Regions
- North America
- Middle East and North Africa
- Latin America
- Rest of the World
The research includes brief profiles of key players engagedin offering cloud-based solutions for drug discovery, development andmanufacturing; other popular industry players featured in the report include:
§ Alibaba Cloud
§ Amazon Web Services
§ OpenEye Scientific
§ Skyland Analytics
§ Veeva Systems
You may also be interested in the following titles:
1. Digital Solutions for BiomarkersMarket, 2021-2030
2. AI-based Drug Discovery Market: Focus on Deep Learning and MachineLearning, 2020-2030
About Roots Analysis
Roots Analysis is one of the fastest growing marketresearch companies, sharing fresh and independent perspectives in thebio-pharmaceutical industry. The in-depth research, analysis and insights aredriven by an experienced leadership team which has gained many years ofsignificant experience in this sector. If you’d like help with your growingbusiness needs, get in touch at firstname.lastname@example.org
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