Life Science Software Market Report 2024 (Global Edition)

Global Life Science Software Market Report 2024 Market Size Split by Type (Predictive, Descriptive, Prescriptive), by Application (Marketing, Compliance, R&D, Pharmacovigilance, SCM), by Component (So...

Life Science Software Market Report Description

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Life Science Software Market Insights Video

Competitive Landscape of the Life Science Software Market

The major players rapidly develop new strategies to attain a competitive edge and capture a significant market share. The prominent players in the life science software market emphasize expanding their creative offerings to serve a large consumer base and gain a competitive advantage.

Life Science Software Industry News

• June 2022: SAS Institute Inc. (US) entered into an agreement with Gunvatta (US) to expedite clinical trials and FDA reporting through the SAS Life Science Analytics Framework on Azure.
• May 2021: IQVIA acquired Myriad Genetics' rival division. This division, dubbed Myriad RBM, is expected to be integrated into IQVIA's Q2 Solutions. Myriad RBM provides contract research services to the pharmaceutical industry, including screening diseased and non-diseased clinical samples against the company's menu of biomarkers.

Top Companies Market Share in Life Science Software Industry: (In no particular order of Rank)

• MEDICAL Information Technology Inc.
• SAP
• CPSI
• Meta
• Elinext
• EPIC Systems Corporation
• INFOR.
• Cognizant
• Oracle
• Jag Products LLC
• Allscripts Healthcare LLC
• Optum Inc
• Cerner Corporation
• Change Healthcare
• Koninklijke Philips N.V
• athenahealth
• eClinicalWorks
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America life science software market dominated the life science software market and accounted for around 40% of the global revenue  in 2023

According to Cognitive Market Research, North America dominated the life science software market in 2023 and accounted for around 40% of the global revenue, owing to the rising digital literacy, advancements in healthcare IT infrastructure, the emergence of startups, the existence of key market players, increasing geriatric population, the growing incidence rate of non-communicable diseases, extending demand for value-based care, and readiness to embrace analytical solutions. North American market players are continuously concentrating on product development and partnership techniques to develop their business offerings in North America. 

Europe is the fastest-growing region due to the increasing demand for efficient data management, regulatory compliance, and advanced analytics in the pharmaceutical and biotechnology industries. The rising focus on accurate medicine and personalized healthcare further fuels market growth. Additionally, the adoption of cloud-based solutions and artificial intelligence technologies contributes to expanding life science software in the European region.

The current report Scope analyzes Life Science Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Life Science Software Market

According to Cognitive Market Research, North America held the major market share in 2023 and, accounted for 40% of the global revenue and will expand at a CAGR of 12.0% from 2023 to 2030. This is due to the increasing demand for advanced genomics, drug discovery, and healthcare solutions. Key drivers include the growing emphasis on personalized medicine, rising investments in research and development, and the need for efficient data management and analysis in the life sciences sector. According to Cognitive Market Research, increasing demand for efficient data management, analysis, and regulatory compliance in pharmaceuticals and biotechnology. Software solutions streamline research, accelerate drug discovery, and enhance collaboration, driving market growth. In conclusion, the North American life science software market is robust, driven by technological advancements and increasing demand for efficient solutions. With a focus on innovation, the industry is poised for sustained growth and transformative impact on healthcare and research

Europe Life Science Software Market

According to Cognitive Market Research, the Europe life science software market accounted for approximately 30% of the global market share and will expand at a CAGR of 12.2% from 2023 to 2030, owing to the region's increasing demand for efficient data management, rising focus on precision medicine, and advancements in bioinformatics. The need for streamlined regulatory compliance and the growing adoption of cloud-based solutions further contribute to market growth. According to Cognitive Market Research, cloud-based life science software offers scalable and secure data storage, real-time collaboration, and accessibility, enhancing research and development efficiency. This trend reflects the industry's commitment to leveraging cutting-edge technology for advancements in life sciences across the European region. In conclusion, Europe's life science software market is driven by innovation and increasing demand for efficient solutions. With a focus on research and development, the region is poised for sustained growth and technological advancement.

Asia Pacific Life Science Software Market

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 22% and will expand at a CAGR of 15.0% from 2023 to 2030 owing to the region's increasing healthcare IT expenditures, growing healthcare infrastructure, the entry of pivotal market players, and increasing digital literacy. Moreover, economic expansion and the availability of low-cost and highly experienced personnel are anticipated to drive the market. According to Cognitive Market Research, rising demand for pharmacovigilance solutions drives market expansion. Stringent regulatory requirements and the need for real-time drug safety monitoring fuel the adoption of sophisticated software tools. Enhanced data management, adverse event reporting, and regulatory compliance contribute to the market's growth. In conclusion, The Asia-Pacific life science software market is thriving, driven by technological advancements and increasing research activities. With robust growth in the region's biotechnology sector, the market is poised for sustained expansion and innovation.

South America Life Science Software Market

According to Cognitive Market Research, Latin America's life science software market accounted for more than 5% of the global revenue in 2023 and will expand at a CAGR of 13.1% from 2023 to 2030 due to the region's increasing demand for efficient healthcare solutions, rising research and development activities, and growing adoption of technology in life sciences. These factors drive innovation and enhance productivity in the region's life science sector. According to Cognitive Market Research, the growing demand for prescriptive analytics solutions enables personalized healthcare strategies. This technology empowers healthcare providers with data-driven insights, enhancing patient outcomes and treatment efficiency. The region's adoption of prescriptive software is a key driver for innovation and advancement in life sciences. In conclusion, Latin America's life science software market is witnessing steady expansion, driven by the growing adoption of advanced technologies. As the region embraces digital transformation, the market holds promising opportunities for innovation and expansion.

Middle East and Africa Life Science Software Market

According to Cognitive Market Research, the Middle East and Africa accounted for more than 3% of the global revenue and will expand at a CAGR of 6.9% from 2023 to 2030. This is owing to the region's increasing demand for advanced healthcare solutions, rising R&D activities, and government initiatives. Adopting innovative technologies, such as genomics and bioinformatics, fuels market growth, enhancing research efficiency and healthcare outcomes across the MEA region. According to Cognitive Market Research, the region's burgeoning pharmaceutical industry, coupled with a rising focus on research and development, is fueling the adoption of innovative life science software, revolutionizing medical and scientific processes. In conclusion, The MEA life science software market is poised for robust growth, driven by increasing demand for efficient data management and analysis in research and healthcare. Emphasis on technology integration fuels innovation, shaping a dynamic and promising future.

Life Science Software Market Analysis

Life Science Software Market Type Segment Analysis

According to Cognitive Market Research, the descriptive segment held a prominent share in the global life science software market over the projected period owing to the growing demand for quantifiable, descriptive analysis based on historical datasets to derive data-driven analysis to better understand the current business scenario. Players utilize data mining techniques on descriptive datasets to derive future trends and outcomes.

The predictive is the fastest-growing category over the projected period owing to the rapidly increasing adoption rate of developed analytical solutions in predicting future trends and helping stakeholders develop appropriate strategies and tactics to improve market performance.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Life Science Software Industry. Request a Free Sample PDF!

Life Science Software Market Application Segment Analysis

According to Cognitive Market Research, the marketing category holds a prominent share of the life science software market owing to the growing adoption rate of analytical solutions in sales and marketing functionalities of institutions to increase sales productivity and create effective and impactful marketing movements.

The research & development category in the life science software market is the fastest-growing category owing to the growing adoption of analytical solutions in drug discovery and consequence and clinical trial management systems. Another critical factor positively influencing the development of the research and development segment is the rising pipeline of life science organizations.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Life Science Software Component Segment Analysis

According to Cognitive Market Research, the services hold a prominent share of the life science software market owing to the rising trend of outsourcing services wrapping planning, implementation, training, staffing, and maintenance since life science associations lack adequate expertise and resources, which is expected to increase the segment augmentation over the forthcoming years.

The software is the fastest-growing category in the life science software market due to increasing demand for advanced genomics, drug discovery, and research solutions. Software applications in this sector facilitate data management, analysis, and collaboration, driving efficiency and innovation. Key drivers include the growing complexity of biological data, the rising focus on personalized medicine, and the need for streamlined research processes.

• Software
• Service

Life Science Software Solution Segment Analysis

According to Cognitive Market Research, on-premises holds a prominent share of the life science software market. On-premises solutions offer enhanced security measures, ensuring regulatory compliance and protecting valuable research data. The industry's stringent data governance requirements necessitate robust, customizable, and locally managed software solutions to meet the unique challenges and standards of life science research and development.

Cloud-based is the fastest-growing category in the life science software market. Cloud technology offers scalability, accessibility, and collaborative capabilities, enhancing data management and analysis in life sciences. The demand for real-time collaboration, cost-efficiency, and seamless integration propels the adoption of cloud-based life science software, empowering researchers and organizations to accelerate innovation and improve overall operational efficiency.

• Cloud-based
• On-Premises

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

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Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

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