Market Trends of Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Industry
This section covers the major market trends shaping the Cloud-based Solution for Drug Discovery Development & Manufacturing Market according to our research experts:
Private Cloud is Expected to Hold a Significant Share in the Cloud Type Segment in the Studied Market during the Forecast Period
A single organization or entity owns and operates private clouds. In a private cloud environment, the hardware, software, and associated infrastructure resides either in the organization's data center or a regulated service provider environment. Private clouds are preferred by government agencies, financial organizations such as banks, mid-sized to large companies, and any other entity involved in sensitive data such as drug discovery and development. This segment is expected to account for a significant market share under study.
Private clouds differ from public clouds in data control and flexibility; by definition, private clouds cannot be offered as a service. Microsoft, HP Data Centers, Ubuntu, Elastra-private cloud, and others are well-known examples of private cloud types. Other factors expected to drive growth in the private cloud segment include low deployment costs, greater efficiency and control over the cloud, ease of customization as needed, and greater security and privacy. And collectively, as a result of these factors, it is expected that the use of private cloud will increase during the forecast period of the study, and the segment will grow in the cloud solutions for discovery, development, and production market during the forecast period of the study.
North America is Expected to Hold a Significant Share in the Studied Market Over the Forecast Period
Geographically, the North American region (including the United States, Canada, and Mexico) is expected to account for a significant share of the cloud-based drug discovery, development, and manufacturing solutions market during the forecast period due to the presence of a large pharmaceutical market and high investment in development and discovery drugs by some of the largest pharmaceutical companies located in the region. For example, according to a 2021 report by the European Federation of Pharmaceutical Industries and Associations, the North American market, which includes the United States and Canada, had the largest share of the global pharmaceutical market at 49%, ahead of Europe, China, and Japan. Thus, due to the high demand for drugs in the region, investment in drug discovery, development, and manufacturing is significantly higher than in other regions, and this is expected to increase cloud services in the region, leading to growth in the researched market in North America during the forecast period of the study.
In the North American region, the United States is expected to account for a significant share of cloud-based solutions for drug discovery, development, and manufacturing market over the years due to factors such as increasing R&D investment by pharmaceutical and other companies and increasing adoption of cloud-based solutions for drug discovery, development, and manufacturing, which is expected to drive growth in the United States market under review.
In addition, new product launches, a collaboration between users and providers, and mergers and acquisitions are further expected to have a significant positive impact on the growth of the study market in the United States. For example, in March 2021, Cleveland Clinic and IBM entered into a landmark 10-year partnership agreement to support health and life sciences research. As part of the agreement, the Cleveland Clinic Global Center for Pathogens and Human Health Research will be built using IBM Hybrid Cloud, High-Performance Computing, Artificial Intelligence, and Quantum Computing technologies.
Additionally, in June 2022, Merck launched the Merck Digital Sciences Studio (MDSS) to enable the generation of innovative technologies for drug discovery and development. MDSS will support early-stage biomedical startups with direct investment, access to powerful Azure Cloud computing, and opportunities to pilot their technologies in collaboration with discovery and clinical scientists from Merck. Therefore, due to the above-mentioned factors, the United States is expected to have a significant share in the cloud-based solutions for drug discovery, development, and manufacturing market during the forecast period of the study in the North American region.
Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Report Snapshots
- Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Market Size
- Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Market Share
- Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Market Trends
- Global Cloud-based Solutions for Drug Discovery, Development and Manufacturing Companies
