In 2022, the drug discovery market was valued at US$ 55.46 billion, and by 2032, that figure is expected to be more than double at US$ 133.11 billion. This is a huge sum of money, however, after events like COVID-19, we now know that time is equally crucial in the drug discovery sector.
With the discovery of novel drugs taking up to a decade, and costs of development on the rise, quantum computing can have a significant impact in this space. In terms of quantum use cases, the development of broad spectrum antiviral medication will see direct benefits. The pharmaceutical industry is becoming increasingly digital, aiming to optimize and maintain processes throughout the development life cycle to cut down on time and resource costs, aligning with the advent of novel computational technologies.
From Tech Radar
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