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Global Life Science Software Market Share, Trends: By Component: Software, Service; By Deployment: Cloud-based, On-premises; By Application: Research and Development, Clinical Trials, Drug Safety, Regulatory Compliance, Supply Chain Management, Others; By End User; Regional Analysis; Patent Analysis; Supplier Landscape; 2024-2032
Global Life Science Software Market Outlook
The global life science software market size was valued at USD 16.75 billion in 2023, driven by the increasing requirement for patient data safety across the globe. The market size is anticipated to grow at a CAGR of 10.9% during the forecast period of 2024-2032 to achieve a value of USD 42.49 billion by 2032.
Life Science Software: Introduction
Life science software is basically utilized to enhance organizational performance by gathering and organizing data. This statistical analysis software efficiently examines patient data, producing accurate results. Consequently, doctors and healthcare staff can access patient health information from these healthcare information systems and create long-term centralized treatment plans. The software also performs centralized data management for the organization, assisting in decision-making and increasing operational efficiency.
Global Life Science Software Market Analysis
The global market is expected to witness significant growth owing to the increased competition among major players in the market to manufacture more efficient drugs and devices to resolve several issues in life science. The increased awareness among the key players regarding the need for continuous advancement in manufacturing products is expected to drive the market growth further. The market is also expected to expand on the basis of continuous advancements that are currently occurring in technologies enabling manufacturers to develop more advanced products in reference to life science. For example, devices enabled with artificial intelligence, machine learning, Internet of Things (IoT), and big data analytics within their quality management system (QMS) can effectively fetch useful data from large volumes of quality data throughout their enterprises, propelling the global life science software market growth. The market growth is also driven by the high demand for operational efficiency in various end-user industries.
Additionally, the continuous development in life sciences quality management is further expected to accelerate throughout the forecast period. The market is experiencing heavy investments in real-world data (RWD) analysis as life sciences manufacturers experience increased pressure to prove product effectiveness and safety to several end users.
The FDA has shown its commitment to RWE through the Advancing Real-World Evidence Program announced in October 2023 and the proposed expansion of Medical Device User Fee funding to external organizations to support RWE announced in January 2024.
Moreover, the market is also witnessing growing demand for SaaS-based life science software as it improves efficiency and cuts down the installation of IT infrastructure, further propelling the market growth.
Global Life Science Software Market Segmentations
Market Breakup by Component
- Software
- Service
Market Breakup by Deployment
- Cloud-based
- On-premises
Market Breakup by Application
- Research and Development
- Clinical Trials
- Drug Safety
- Regulatory Compliance
- Supply Chain Management
- Others
Market Breakup by End User
- Pharmaceuticals
- Biotechnology
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Life Science Software Market Overview
The growing necessity for advancement in operational efficiency is notably driving the market growth. Life science software is basically used to collect and manage data and enhance the performance of the organization. It also enhances the quality of decision-making, performance, and operational efficiency. Organizations adopt these solutions to enhance operational efficiency and remain competitive in the market. The increasing numbers of M and A deals in the market are a major factor driving the global life science software market growth. For example, M&A deal value in life sciences more than doubled year over year in the first half of 2024 thanks to a surge in pharma M&A activity.
Geographically, North America is expected to lead for the forecast period due to the presence of various market opportunities or key players. The requirement for patient data safety, easy data access, and data management is also expected to boost the growth of the regional market.
Global Life Science Software Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- CPSI
- Autodesk Inc.
- International Business Machines Corp
- SAP SE
- Medidata Solutions, Inc
- Veeva Systems
- PAREXEL International Corporation
- QuintilesIMS Incorporated
- Optum Inc.
- Cerner Corporation
- Cognizant
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Life Science Software Market Overview
3.1 Global Life Science Software Market Historical Value (2017-2023)
3.2 Global Life Science Software Market Forecast Value (2024-2032)
4 Global Life Science Software Market Landscape
4.1 Global Life Science Software Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Life Science Software Product Landscape
4.2.1 Analysis by Component
4.2.2 Analysis by Deployment
4.2.3 Analysis by Application
5 Global Life Science Software Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Life Science Software Market Segmentation
6.1 Global Life Science Software Market by Component
6.1.1 Market Overview
6.1.2 Software
6.1.3 Service
6.2 Global Life Science Software Market by Deployment
6.2.1 Market Overview
6.2.2 Cloud-based
6.2.3 On-premises
6.3 Global Life Science Software Market by Application
6.3.1 Market Overview
6.3.2 Research and Development
6.3.3 Clinical Trials
6.3.4 Drug Safety
6.3.5 Regulatory Compliance
6.3.6 Supply Chain Management
6.3.7 Others
6.4 Global Life Science Software Market by End User
6.4.1 Market Overview
6.4.2 Pharmaceuticals
6.4.3 Biotechnology
6.4.4 Others
6.5 Global Life Science Software Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Life Science Software Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Life Science Software Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Life Science Software Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Life Science Software Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Life Science Software Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 CPSI
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Autodesk Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 International Business Machines Corp
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 SAP SE
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Medidata Solutions, Inc
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Veeva Systems
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 PAREXEL International Corporation
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 QuintilesIMS Incorporated
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Optum Inc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Cerner Corporation
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Cognizant
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
18 Global Life Science Software Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market attained a value of about USD 16.75 billion in 2023, driven by increasing advancements.
The market is anticipated to grow at a CAGR of 10.9% during the forecast period of 2024-2032, likely to reach a market value of USD 42.49 billion by 2032.
The increasing demand for efficient operational efficiency is a major factor driving the market growth.
The increased competition among the key players is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
The components include software and services.
This software is deployed over the cloud and on-premises.
They find their applications in research and development, clinical trials, drug safety, regulatory compliance, and supply chain management, among others.
End users in the market include pharmaceuticals, and biotechnology, among others.
Key players involved in the 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.
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