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Global Life Science Software Market Size, 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; Supplier Landscape; 2024-2032
Global Life Science Software Market Size
The global life science software market reached a value of approximately USD 16.75 billion in 2023. The market is projected to grow at a CAGR of 10.9 % between 2024 and 2032, reaching a value of around USD 42.49 billion by 2032.
Life Science Software Market Outlook
- As per the National Health Expenditure Account (NHEA), in 2022, US healthcare spending surged 4.1% to $4.5 trillion.
- According to ITA, Romania's healthcare spending is expected to jump to USD 7.5 billion by 2028 (37.68% increase).
- In 2020, Eurostat figures indicate France (12.2%) and Germany (12.8%) led healthcare spending relative to GDP among EU nations.
Life Science Software Market Growth
The life science software market is propelled by the shift towards personalized medicine which requires advanced software for genetic analysis, biomarker discovery, and patient stratification. These tools help in tailoring treatments to individual patients based on their genetic profiles.
Automation technologies, including robotic process automation (RPA) and laboratory automation, are enhancing efficiency in R&D and manufacturing processes.
In the U.S., in the fiscal year 2022, academic institutions spent a total of USD 97.8 billion on research and development, marking a USD 8.0 billion increase compared to FY 2021.
Key Trends and Developments
Artificial intelligence and machine learning, cloud computing, big data analytics, and regulatory compliance automation are the major trends impacting global life science software market growth.
June 2024
Sware has secured $6 million in a Series B funding round to expedite innovation in life sciences by automating the software validation required by the US Food and Drug Administration.
June 2024
SCIEX, a leader in life science analytical technologies, partnered with Mass Analytica to launch AI quant software. Using AI and machine learning, it rapidly processes data and generates insights, saving time and boosting productivity.
March 2024
NVIDIA has introduced over two dozen new microservices, enabling healthcare enterprises globally to utilise the latest advancements in generative AI from any location and cloud platform.
December 2023
Biosero, specialised in laboratory automation solutions, has signed a $28 million agreement with a global life science company. The project involves designing and building an automated R&D platform across five sub-projects, including hardware and software.
Artificial Intelligence and Machine Learning
AI and ML are revolutionising data analysis and drug discovery by automating tasks, analysing large datasets, and enabling faster, more accurate predictions and insights.
Cloud Computing
Cloud-based solutions allow life science companies to store and manage vast amounts of data securely, collaborate across geographies, and access powerful computational resources on demand.
Big Data Analytics
Analysing large datasets is crucial for genomics, clinical trials, and personalised medicine. Advanced analytics tools enhance understanding of disease mechanisms, and patient responses, and optimise clinical trial designs.
Regulatory Compliance Automation
Software that ensures compliance with FDA and EMA standards is in high demand, helping to maintain data integrity, audit readiness, and regulatory adherence, thereby reducing the risk of non-compliance.
Life Science Software Market Trends
The rising demand for life science software is driven by innovations in imaging technologies and diagnostic software, which improve the speed and accuracy of disease diagnosis, leveraging AI for enhanced image analysis.
Moreover, automation technologies such as robotic process automation (RPA) and laboratory automation enhance efficiency in research and manufacturing by reducing errors, increasing productivity, and enabling precise tasks.
Life Science Software Industry Segmentation
“Life Science Software Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
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
Life Science Software Market Share
Software components enhance the life science software market by enabling sophisticated data analysis, allowing researchers to derive meaningful insights from complex datasets more efficiently.
Software components facilitate the adoption of emerging technologies such as artificial intelligence, machine learning, and cloud computing, which further drive innovation and growth in the life sciences sector.
Service providers offer consulting services to help life science companies implement and optimize software solutions tailored to their specific needs, driving adoption and utilisation.
Cloud-based deployment contributes to the life science software market growth by facilitating data integration and interoperability by providing APIs and standardised protocols for accessing and sharing data across different systems and applications.
Leading cloud service providers offer robust security measures and compliance certifications, ensuring the protection of sensitive data under industry regulations such as HIPAA and GDPR.
On-premises deployment assures organisations that their data remains within their physical control and jurisdiction, mitigating concerns related to data sovereignty and geopolitical risks associated with storing data in third-party cloud environments.
Leading Manufacturers in the Life Science Software Market
The companies are providers of healthcare solutions, services, and products such as asset management, AI, machine learning, and others.
CPSI: Founded in 1979 and is headquartered in the United States. CPSI is a top provider of healthcare solutions and services designed for community hospitals, clinics, and post-acute care facilities.
SAP SE: Established in 1972 and is headquartered in Walldorf, BW. The company offers various products under segments including based on industry, category, business technology platform, business transformation management, and featured.
Autodesk Inc.: Founded in 1982 and is headquartered in San Francisco, CA. The company's technology spans architecture, engineering, construction, product design, manufacturing, and media and entertainment.
International Business Machines Corp: Established in 1911 and is headquartered in Armonk, New York. The company offers various products including AI and machine learning, asset management, analytics, business automation, and other products.
Other global life science software market key players are Medidata Solutions, Inc., Veeva Systems, PAREXEL International Corporation, QuintilesIMS Incorporated, Optum Inc., Cerner Corporation, and Cognizant, among others.
Life Science Software Market Analysis by Region
During the forecast period, North America is poised to lead, driven by abundant market opportunities and the presence of key players. The region's market growth is further expected to be propelled by the demand for patient data security, convenient data access, and efficient data management.
According to GOI, the Ministry of Chemicals & Fertilizers Department of Pharmaceuticals, in the fiscal year 2021-22, the total annual turnover of Pharmaceuticals was USD 46,457 million whereas in 2020-2021 it was USD 44,287 million. This indicates the rise in the demand for life science software market in India.
According to the National Science Board, The U.S. research and experimental development (R&D) performance reached USD 667 billion in 2019 and an estimated USD 708 billion in 2020. This increase in the R&D performance has resulted in rising demand for the life science software market in the country.
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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Life Science Software Market Report Snapshots
Life Science Software Market Size
Life Science Software Market Growth
Life Science Software Market Trends
Life Science Software Market Share
Life Science Software Manufacturers
Life Science Software Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 was valued at USD 16.75 billion in 2023.
The market is projected to grow at a CAGR of 10.9 % between 2024 and 2032.
The revenue generated from the life science software market is expected to reach USD 42.49 billion in 2032.
The market is categorised according to the component, which includes software and service.
The market key players are CPSI, SAP SE, Autodesk Inc., International Business Machines Corp, Medidata Solutions, Inc., Veeva Systems, PAREXEL International Corporation, QuintilesIMS Incorporated, Optum Inc., Cerner Corporation, and Cognizant, among others.
Based on the deployment, the market is divided into cloud-based and on-premises.
Based on the application, the market is divided into research and development, clinical trials, drug safety, regulatory compliance, supply chain management, and others.
Based on the end use, the market is divided into pharmaceuticals, biotechnology, and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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