The global life science software market is driven by the increasing competition in manufacturing efficient drugs and devices. Life science software helps address key challenges in life sciences projects. Some of the main solutions provided by life science software are data management and storage solutions, collaboration and data sharing solutions and data security and privacy solutions. In addition, ongoing technological breakthroughs are facilitating the development of more sophisticated life science products. The incorporation of artificial intelligence, machine learning, IoT, and big data analytics in quality management systems helps make complex processes simpler and streamline the workflow, improving process efficiency.
Moreover, an increase in demand for improved productivity in the pharmaceutical and medical sectors is fueling the market expansion. The demand for life science software is high in regions like North America and Europe due to increasing investments in the pharmaceutical sector. The growing pharmaceutical sector in emerging countries is anticipated to support the market for life science software. The regions like BRICS (Brazil, Russia, India, China, and South Africa) and MIST (Mexico, Indonesia, South Korea, and Turkey) are the key emerging countries for pharmaceutical companies.
Further, with growing digitalisation and shift towards automation, companies are adopting advanced software to automate manual processes and speed up drug and device development. In October 2023, Salesforce launched Life Sciences Cloud for Pharma and MedTech companies to streamline patient engagement and help improve clinical operations using automation and AI. Further, in October 2023, BioLizard launched an all new AI-powered platform BioVerse, to accelerate life sciences research and development processes and facilitate data-driven R&D.
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The major players in the global life science software market are CPSI, Autodesk Inc., International Business Machines Corp, SAP SE, Medidata Solutions, Inc, Veeva Systems, PAREXEL International Corporation, QuintilesIMS Incorporated, Optum Inc., Cerner Corporation, and Cognizant, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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|Breakup by Deployment
|Breakup by Application
|Breakup by End User
|Breakup by Region
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