Global Life Sciences Software Market valued at $11 billion in 2020, is expected to grow at a swift CAGR of 11% to reach $18 billion by 2025

 

The life sciences software market (such as eTMF, LIMS, computer-aided drug discovery, RWE, ERP, CRM, QMS, virtual trials, patient recruitment software, patient & outcomes data management, etc.) is driven by the increasing R&D spend and pipeline, growing number and size of biotechs, Covid-accelerated decentralized trials, increasing cost efficiencies and shorter time to market.

Rising Interest in Novel Software Solutions Specifically Designed for Biologics

With rapidly expanding research on advanced therapies such as cell and gene therapies and personalized vaccines, there is robust demand for software solutions to maximize process and workflow efficiencies across services. The FDA predicts that by 2025, 10 to 20 cell and gene therapy products will be approved a year. To leverage growth opportunities, companies are entering/expanding into Biologics software space. Some of the key technology providers for CGT include Vineti, TrakCel, Be The Match, SAP, WellSky, Synthace and Cytiva.

“Large players present in this segment are trying to consolidate the market by becoming a one stop shop. Moreover, companies are also considering to combine their solutions with bioinformatics and LIMS tools to have a competitive edge.”- Executive, Leading Software Provider, US

Covid-19 Impact on Global Life Sciences Software Market

Covid-19 has impacted all phases of drug development however, clinical trials phase was hit the most. This paved way for technological solutions to overcome such hurdles. Virtual trials have become more important than ever post-pandemic. There were hardly any M&As related to virtual trials taking place before the pandemic, but the market observed ~10 M&A deals in 2020. The companies are increasingly consolidating through M&As to enhance their technology/service offerings for decentralized trials and leverage growth opportunities.

Competitive Landscape Analysis: Life Sciences Software Market

The global life sciences software market is highly competitive and fragmented. The key players operating in the Life Sciences Software Market include Dassault Systèmes, LabVantage, PerkinElmer, Schrodinger, ICON, Veeva, PhlexGlobal, Saama, IQVIA, Parexel, Signant Health, Abbott, Science37, Medidata, IBM, Koneksa, SAP, Oracle, Optibrium, and Instem.

Explore Detailed Insights on Life Sciences Software Market @ https://meditechinsights.com/life-sciences-software-market/

Comments

Post a Comment

Popular posts from this blog

Global Weight Management Market Size, Share, Analysis, Growth, Forecasts, Trends, Developments & Scope by 2027

In an era, where health and wellness have become paramount, the weight management market has experienced a significant transformation. The Weight Management Market Research Report for 2023 unveils key insights into the latest trends, innovations, and challenges facing this dynamic sector. As individuals across the globe become more conscious of their health and weight, the market is evolving to meet their diverse needs. This report provides a comprehensive overview of the weight management industry, highlighting the factors driving its growth, emerging market segments, and the strategies employed by key players to stay ahead in this competitive landscape. Growing Obesity Rate Across the World: Weight Management Market The report begins by addressing the pressing issue of the global obesity epidemic. With a focus on the alarming statistics and the societal implications of this health crisis, it establishes the context in which the weight management market operates. The report delves in...
Read more

Global Genomics Market Report Reveals Rapid Growth & Transformative Trends in the Genomic Industry by 2027

In the ever-evolving landscape of healthcare, genomics is making headlines for its groundbreaking contributions to personalized medicine, disease understanding, and advancements in pharmaceutical research. The Global Genomics Market Report for 2023 highlights the impressive growth and transformative trends within the genomics industry, shedding light on the exciting potential of genomics in shaping the future of healthcare. I. The Genomics Market Landscape The report's comprehensive analysis of the global genomics market reveals a dynamic and rapidly expanding landscape. With a CAGR of over [X]% during the forecast period, the industry is experiencing unprecedented growth. Key factors driving this growth include increased adoption of genomics in clinical diagnostics, expanding genomics research initiatives, and the development of advanced sequencing technologies. II. Personalized Medicine Revolution One of the most exciting trends highlighted in the report is the integration of ge...
Read more

Global ATMPs Consulting Market Research Report 2027 - Competitive Analysis by Size, Share, Access, Growth, Demand & Industry Solutions

Advanced therapy medicinal products (ATMPs) are medicines for human utilization which are based on genes, tissues, or cells. They provide revolutionary and novel opportunities for the treatment of diseases and injuries. ATMPs primarily target diseases with unfulfilled medical demands. It has an extensive therapeutic potential for treating multiple types of diseases such as cancer, neurodegenerative diseases, and cardiovascular diseases. Development Complexities and Regulatory Adaptations Drives the ATMPs Consulting Market Growth The development of ATMPs is a complex manufacturing process resulting from handling living tissues or generating GMOs. The huge variety of ATMPs and their inherent complexity offers analytical development challenges. Specific characterization, potency, purity, and identity assays are needed for each product. Evolving regulatory needs for ATMPs in developed regions such as EU and U.S. and the need to meet demanding regulatory expectations pose various regulator...
Read more