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Life Sciences Software Market by End-user, Deployment, and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41658
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The life science software market share is expected to increase by USD 2.55 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 7.25%.

This life science software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers life science software market segmentations by end-user (pharmaceutical, biotechnology, and others), deployment (cloud and on-premise), and geography (North America, Europe, APAC, and South America). The life science software market report also offers information on several market vendors, including Cegedim SA, Dassault Systemes SE, Medidata Solutions Inc., Model N Inc., Oracle Corp., PTC Therapeutics Inc., SAP SE, SAS Institute Inc., Thermo Fisher Scientific Inc., and Veeva Systems Inc. among others.

What will the Life Science Software Market Size be During the Forecast Period?

Life Sciences Software Market Size

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Life Science Software Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing focus on storing patient information is notably driving the life science software market growth, although factors such as increasing data security and privacy concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the life science software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Life Science Software Market Driver

The growing focus on storing patient information is notably driving the global life-science software market growth. An increase in the number of patients leads to an increase in the number of medical records. Thus, healthcare providers invest heavily in life sciences solutions for data storage. Medical institutions have access to vast amounts of patient data. The organizations focus on utilizing the recorded patient data to improve healthcare services, which leads to heavy investments in healthcare business intelligence and analytics solutions. Organizations are entering into M&A with pharmaceutical companies for medical data. The growing emphasis on storing patient information is driving the global life science software market.

Key Life Science Software Market Trend

Increasing technological innovations is the key market trend driving the global life-science software market growth. Technological advances and sophisticated approaches in healthcare applications drive the demand for life science solutions. Life science solutions such as clinical trial data management, drug development, and clinical remote data capture are popularly used by drug manufacturers, researchers, and scientists in the field of clinical applications and drug discovery. Many pharmaceutical companies are resorting to Big Data to reduce the costs in the R&D of pharmaceuticals. The rapid growth of the life sciences industry is due to the presence of integrated platforms that can enhance the accuracy and implementation of data throughout the process cycle. These solutions help in the accurate analysis and reporting of clinical trial data. The ongoing technological innovations are driving the demand for life sciences software.

Key Life Science Software Market Challenge

The major challenge impeding the global life-science software market growth is the increasing data security and privacy concerns. The health care industry prefers cloud-based solutions to on-premises solutions due to cost-effectiveness and ease of accessibility. These solutions aid data management through centralized data storage and high-speed networks, which increase productivity and enhance data sharing and collaboration. However, the implementation of life science software and the data stored in the cloud-related to lab tests are likely to be leaked, which in turn hampers the growth of the healthcare industry. The conversion of paper-based medical records into an electronic format can create data security issues. These issues will hamper the adoption of life science software in hospitals, diagnostic centers, and healthcare research centers in the future.

This life science software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global life science software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the life science software market during the forecast period.

Who are the Major Life Science Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Cegedim SA
  • Dassault Systemes SE
  • Medidata Solutions Inc.
  • Model N Inc.
  • Oracle Corp.
  • PTC Therapeutics Inc.
  • SAP SE
  • SAS Institute Inc.
  • Thermo Fisher Scientific Inc.
  • Veeva Systems Inc.

 

This statistical study of the life science software market encompasses successful business strategies deployed by the key vendors. The life science software market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Cegedim SA - Through this segment, the company offers medical software, pharmacist software, paramedical software, drug database as well as technological tools, specialized software, data flow management services and databases.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The life science software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Life Science Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the life science software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Life Science Software Market?

Life Sciences Software Market Market segmentation by region

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43% of the market's growth will originate from North America during the forecast period. The US is the key market for life science software market in North America. Market growth in this region will be faster than the growth of the market in South America.

The demand for security, easy access to data, and the need for effective management of patient information will facilitate the life science software market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End User Segments in the Life Science Software Market?

Life Sciences Software Market Segmentation

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The life science software market share growth by the pharmaceutical segment will be significant during the forecast period. Pharmaceutical companies can benefit from the global healthcare standard offered by life science software. It enhances the existing ERP, augments the capabilities of logistic partners, and collaborates with trading partners such as contract packagers. These features are driving the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the life science software market size and actionable market insights on post COVID-19 impact on each segment.

 

Life Science Software Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 7.25%

Market growth 2020-2024

$ 2.55 billion

Market structure

Fragmented

YoY growth (%)

6.52

Regional analysis

North America, Europe, APAC, South America, North America, Europe, APAC, and South America

Performing market contribution

North America at 43%

Key consumer countries

US, Germany, France, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Cegedim SA, Dassault Systemes SE, Medidata Solutions Inc., Model N Inc., Oracle Corp., PTC Therapeutics Inc., SAP SE, SAS Institute Inc., Thermo Fisher Scientific Inc., and Veeva Systems Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Life Science Software Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive life science software market growth during the next five years
  • Precise estimation of the life science software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the life science software industry across North America, Europe, APAC, South America, North America, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of life science software market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Application software

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Pharmaceutical - Market size and forecast 2020-2025
      • Exhibit 17: Pharmaceutical - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Pharmaceutical - Year-over-year growth 2020-2025 (%)
    • 5.4 Biotechnology - Market size and forecast 2020-2025
      • Exhibit 19: Biotechnology - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Biotechnology - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 23: Market opportunity by End-user

    6 Market Segmentation by Deployment

    • 6.1 Market segments
      • Exhibit 24: Deployment - Market share 2020-2025 (%)
    • 6.2 Comparison by Deployment
      • Exhibit 25: Comparison by Deployment
    • 6.3 Cloud - Market size and forecast 2020-2025
      • Exhibit 26: Cloud - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Cloud - Year-over-year growth 2020-2025 (%)
    • 6.4 On-premise - Market size and forecast 2020-2025
      • Exhibit 28: On-premise - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: On-premise - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Deployment
      • Exhibit 30: Market opportunity by Deployment

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 32: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 33: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 34: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 44: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 45: Market opportunity by geography

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 46: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Competitive scenario
          • 10.2 Vendor landscape
            • Exhibit 47: Vendor landscape
          • 10.3 Landscape disruption

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 50: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 51: Market positioning of vendors
            • 11.3 Cegedim SA
              • Exhibit 52: Cegedim SA - Overview
              • Exhibit 53: Cegedim SA - Business segments
              • Exhibit 54: Cegedim SA - Key offerings
              • Exhibit 55: Cegedim SA - Segment focus
            • 11.4 Dassault Systemes SE
              • Exhibit 56: Dassault Systemes SE - Overview
              • Exhibit 57: Dassault Systemes SE - Product and service
              • Exhibit 58: Dassault Systemes SE - Key news
              • Exhibit 59: Dassault Systemes SE - Key offerings
            • 11.5 International Business Machines Corp.
              • Exhibit 60: International Business Machines Corp. - Overview
              • Exhibit 61: International Business Machines Corp. - Business segments
              • Exhibit 62: International Business Machines Corp. - Key news
              • Exhibit 63: International Business Machines Corp. - Key offerings
              • Exhibit 64: International Business Machines Corp. - Segment focus
            • 11.6 Model N Inc.
              • Exhibit 65: Model N Inc. - Overview
              • Exhibit 66: Model N Inc. - Business segments
              • Exhibit 67: Model N Inc. - Key offerings
              • Exhibit 68: Model N Inc. - Segment focus
            • 11.7 Oracle Corp.
              • Exhibit 69: Oracle Corp. - Overview
              • Exhibit 70: Oracle Corp. - Business segments
              • Exhibit 71: Oracle Corp. - Key offerings
              • Exhibit 72: Oracle Corp. - Segment focus
            • 11.8 PTC Therapeutics Inc.
              • Exhibit 73: PTC Therapeutics Inc. - Overview
              • Exhibit 74: PTC Therapeutics Inc. - Business segments
              • Exhibit 75: PTC Therapeutics Inc. - Key offerings
              • Exhibit 76: PTC Therapeutics Inc. - Segment focus
            • 11.9 SAP SE
              • Exhibit 77: SAP SE - Overview
              • Exhibit 78: SAP SE - Business segments
              • Exhibit 79: SAP SE - Key news
              • Exhibit 80: SAP SE - Key offerings
              • Exhibit 81: SAP SE - Segment focus
            • 11.10 SAS Institute Inc.
              • Exhibit 82: SAS Institute Inc. - Overview
              • Exhibit 83: SAS Institute Inc. - Product and service
              • Exhibit 84: SAS Institute Inc. - Key offerings
            • 11.11 Thermo Fisher Scientific Inc.
              • Exhibit 85: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 86: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 87: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 88: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 89: Thermo Fisher Scientific Inc. - Segment focus
            • 11.12 Veeva Systems Inc.
              • Exhibit 90: Veeva Systems Inc. - Overview
              • Exhibit 91: Veeva Systems Inc. - Business segments
              • Exhibit 92: Veeva Systems Inc. - Key offerings
              • Exhibit 93: Veeva Systems Inc. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 94: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 95: Research Methodology
                • Exhibit 96: Validation techniques employed for market sizing
                • Exhibit 97: Information sources
              • 12.4 List of abbreviations
                • Exhibit 98: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Life Science Software Market market growth will increase by $2.55 bn during 2020-2024.
              The life science software market market is expected to grow at a CAGR of 7.25% during 2020-2024.
              Technavio has segmented the life science software market market by end user (pharmaceutical, biotechnology, and others) ,deployment (cloud, on-premise, Metal fabrication, Consumer goods, and Others) , and geography (North America, Europe, APAC, South America, and North America).
              Cegedim SA, Dassault Systemes SE, Medidata Solutions Inc., Model N Inc., Oracle Corp., PTC Therapeutics Inc., SAP SE, SAS Institute Inc., Thermo Fisher Scientific Inc., Veeva Systems Inc. are a few of the key vendors in the life science software market market.
              North America will register the highest growth rate of 43% among the other regions. Therefore, the life science software market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the life science software market market growth are:
              • Growing focus on storing patient information
              • Emergence of precision medicine
              The life science software market market vendors should focus on grabbing business opportunities from the pharmaceutical segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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