Life Sciences Software Market Definition
The global life science software market is expected to witness high growth due to the increasing demand for efficient management of patient data. and The software used in life science enables users to increase efficacy and reduce the cost of deploying valuable IT infrastructure. For instant, a SaaS (Software as a Service) model for life science offers a pay per use model that provides more feasibility to store patient data. Also, factors such as a rise in frequent chronic diseases, increasing pressure to curb healthcare spending, and increasing focus on value-based medicine also result in the significant growth of this market.
The market study is broken down, by Application (Pharmaceuticals, Biotechnology and Others) and major geographies with country level splits.
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Life Sciences Software market throughout the predicted period.
QuintilesIMS Incorporated (United States), Autodesk Inc (United States), PAREXEL International Corporation (United States), Model N (United States), Dassault Systèmes (France), International Business Machines Corp (United States), SAP SE (Germany), Veeva Systems (United States) and Medidata Solutions, Inc (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Life Sciences Software market by Type, Application and Region.
On the basis of geography, the market of Life Sciences Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. Cloud-based will boost the Life Sciences Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 29th October 2019, Dassault Systèmes has announced the completion of its acquisition of Medidata Solutions, Inc. whose clinical expertise and cloud-based solutions power the smarter development and commercialization of treatments. and On 9th October 2019, Parexel, a leading provider of solutions to accelerate the development and delivery of innovative new therapies to improve world health, from Clinical through to Commercialization, and Datavant, the leader in helping healthcare organizations connect data, today announced a multi-year strategic partnership to enable the connection of real-world data across all clinical trials conducted by Parexel.
On 19th June 2019, Dassault Systèmes has announced its participation as lead investor in a 65 million Euros Series B financing for BioSerenity, a startup developing a comprehensive and efficient health solution involving textiles equipped with sensors and online telehealth services to diagnose and monitor chronic pathologies.
- Availability Of Big Data In the Life Science
- Increasing Adoption of Analytical Solution in Hospital & Clinics
- Increasing the Requirement of Improvement of Operational Efficiency
- Growing Need for Improved Patient Care Delivery
- Continuous Technological Advancement in the Life Science Software
- Adoption of Merger & Acquisitions Strategies among Companies
- High-Cost Associated with Life Science Software
- Additional Infrastructure and Cost for Data Management
Key Target AudienceInformation Technology (IT) Service Providers, Life Science Software Providers, System Integrators, Application Developers and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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