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...