This report describes and explains the life science software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global life science software market reached a value of nearly $18.08 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.72% since 2019. The market is expected to grow from $18.08 billion in 2024 to $30.85 billion in 2029 at a rate of 11.28%. The market is then expected to grow at a CAGR of 11.06% from 2029 and reach $52.14 billion in 2034.
Growth in the historic period resulted from the rising demand for personalized medicine, expansion of clinical trials and outsourcing (CROs), rising R&D spending in life sciences and rise of digital health and connected devices. Factors that negatively affected growth in the historic period were complex regulatory compliance and data security and privacy concerns.
Going forward, the expansion of the pharmaceutical sector, rising prevalence of chronic diseases, rising demand for real-world evidence (RWE) and data and rising demand for cloud adoption in medtech will drive the growth. Factors that could hinder the growth of the life science software market in the future include cost and time pressure in drug discovery, high implementation and licensing costs and trade war and tariffs.
The life science software market is segmented by type into predictive, descriptive and prescriptive. The descriptive market was the largest segment of the life science software market segmented by type, accounting for 48.64% or $8.79 billion of the total in 2024. Going forward, the prescriptive segment is expected to be the fastest growing segment in the life science software market segmented by type, at a CAGR of 15.20% during 2024-2029.
The life science software market is segmented by deployment into on-premises and hosted. The hosted market was the largest segment of the life science software market segmented by deployment, accounting for 63.00% or $11.38 billion of the total in 2024. Going forward, the hosted segment is expected to be the fastest growing segment in the life science software market segmented by deployment, at a CAGR of 13.65% during 2024-2029.
The life science software market is segmented by application into marketing, compliance, R&D, pharmacovigilance and SCM. The R&D market was the largest segment of the life science software market segmented by application, accounting for 38.96% or $7.04 billion of the total in 2024. Going forward, the R&D segment is expected to be the fastest growing segment in the life science software market segmented by application, at a CAGR of 13.17% during 2024-2029.
The life science software market is segmented by end user into healthcare institutes, biopharmaceutical industry, medical devices industry and medical research centers. The biopharmaceutical industry market was the largest segment of the life science software market segmented by end user, accounting for 42.83% or $7.74 billion of the total in 2024. Going forward, the biopharmaceutical industry segment is expected to be the fastest growing segment in the life science software market segmented by end user, at a CAGR of 13.72% during 2024-2029.
North America was the largest region in the life science software market, accounting for 37.71% or $6.81 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the life science software market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 14.41% and 13.81% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 13.14% and 12.95% respectively.
The global life science software market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 24.71% of the total market in 2024. Veeva Systems Inc. was the largest competitor with a 5.32% share of the market, followed by IQVIA Holdings, Inc. with 5.11%, Microsoft (Life Sciences). with 4.76%, Oracle Corp. with 1.70%, Dassault Systemes SE (Medidata Solution Inc.) with 1.54%, SAP SE with 1.52%, UnitedHealth Group Incorporated (Optum Inc.) with 1.43%, Thermo Fisher Scientific Inc. with 1.33%, PerkinElmer with 1.14% and Certara. with 0.86%.
The top opportunities in the life science software markets segmented by type will arise in the descriptive segment, which will gain $6.58 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by deployment will arise in the hosted segment, which will gain $10.2 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by application will arise in the R&D segment, which will gain $6.03 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by end user will arise in the biopharmaceutical Industry segment, which will gain $6.98 billion of global annual sales by 2029. The life science software market size will gain the most in the USA at $3.4 billion.
Market-trend-based strategies for the life science software market include creating next-generation solutions that drive digital transformation, enhance data integration and enable precision innovation, forming strategic ecosystems and technology networks to accelerate digital transformation, developing innovative products such as AI-powered digital pathology solutions, developing strategic partnerships to enhance technological innovation, expand global reach, developing innovative products such as generative AI, machine learning and computer-aided drug design to accelerate drug discovery and developing innovative products such as cloud-based project management tools to streamline research workflows.
Player-adopted strategies in the life science software market include focus on strategic partnerships to better serve the industry and to strengthen their position, focus on expanding its operational capabilities and to develop business expertise through strategic partnerships and focus on expanding its operational capabilities through new launches.
To take advantage of the opportunities, the analyst recommends the life science software market companies to focus on developing user-centric, data-driven solutions, focus on building strategic ecosystems and ai-driven platforms, focus on developing ai-powered digital pathology solutions, focus on leveraging ai and advanced computational tools, focus on cloud-based project management solutions, focus on prescriptive analytics solutions, focus on hosted solutions, expand in emerging markets, continue to focus on developed markets, focus on forming strategic partnerships to enhance innovation, focus on value-based and tiered pricing, focus on targeted digital campaigns, focus on strategic industry partnerships, focus on R&D solutions, focus on biopharmaceutical industry.
This product will be delivered within 3-5 business days.
The global life science software market reached a value of nearly $18.08 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.72% since 2019. The market is expected to grow from $18.08 billion in 2024 to $30.85 billion in 2029 at a rate of 11.28%. The market is then expected to grow at a CAGR of 11.06% from 2029 and reach $52.14 billion in 2034.
Growth in the historic period resulted from the rising demand for personalized medicine, expansion of clinical trials and outsourcing (CROs), rising R&D spending in life sciences and rise of digital health and connected devices. Factors that negatively affected growth in the historic period were complex regulatory compliance and data security and privacy concerns.
Going forward, the expansion of the pharmaceutical sector, rising prevalence of chronic diseases, rising demand for real-world evidence (RWE) and data and rising demand for cloud adoption in medtech will drive the growth. Factors that could hinder the growth of the life science software market in the future include cost and time pressure in drug discovery, high implementation and licensing costs and trade war and tariffs.
The life science software market is segmented by type into predictive, descriptive and prescriptive. The descriptive market was the largest segment of the life science software market segmented by type, accounting for 48.64% or $8.79 billion of the total in 2024. Going forward, the prescriptive segment is expected to be the fastest growing segment in the life science software market segmented by type, at a CAGR of 15.20% during 2024-2029.
The life science software market is segmented by deployment into on-premises and hosted. The hosted market was the largest segment of the life science software market segmented by deployment, accounting for 63.00% or $11.38 billion of the total in 2024. Going forward, the hosted segment is expected to be the fastest growing segment in the life science software market segmented by deployment, at a CAGR of 13.65% during 2024-2029.
The life science software market is segmented by application into marketing, compliance, R&D, pharmacovigilance and SCM. The R&D market was the largest segment of the life science software market segmented by application, accounting for 38.96% or $7.04 billion of the total in 2024. Going forward, the R&D segment is expected to be the fastest growing segment in the life science software market segmented by application, at a CAGR of 13.17% during 2024-2029.
The life science software market is segmented by end user into healthcare institutes, biopharmaceutical industry, medical devices industry and medical research centers. The biopharmaceutical industry market was the largest segment of the life science software market segmented by end user, accounting for 42.83% or $7.74 billion of the total in 2024. Going forward, the biopharmaceutical industry segment is expected to be the fastest growing segment in the life science software market segmented by end user, at a CAGR of 13.72% during 2024-2029.
North America was the largest region in the life science software market, accounting for 37.71% or $6.81 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the life science software market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 14.41% and 13.81% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 13.14% and 12.95% respectively.
The global life science software market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 24.71% of the total market in 2024. Veeva Systems Inc. was the largest competitor with a 5.32% share of the market, followed by IQVIA Holdings, Inc. with 5.11%, Microsoft (Life Sciences). with 4.76%, Oracle Corp. with 1.70%, Dassault Systemes SE (Medidata Solution Inc.) with 1.54%, SAP SE with 1.52%, UnitedHealth Group Incorporated (Optum Inc.) with 1.43%, Thermo Fisher Scientific Inc. with 1.33%, PerkinElmer with 1.14% and Certara. with 0.86%.
The top opportunities in the life science software markets segmented by type will arise in the descriptive segment, which will gain $6.58 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by deployment will arise in the hosted segment, which will gain $10.2 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by application will arise in the R&D segment, which will gain $6.03 billion of global annual sales by 2029. The top opportunities in the life science software markets segmented by end user will arise in the biopharmaceutical Industry segment, which will gain $6.98 billion of global annual sales by 2029. The life science software market size will gain the most in the USA at $3.4 billion.
Market-trend-based strategies for the life science software market include creating next-generation solutions that drive digital transformation, enhance data integration and enable precision innovation, forming strategic ecosystems and technology networks to accelerate digital transformation, developing innovative products such as AI-powered digital pathology solutions, developing strategic partnerships to enhance technological innovation, expand global reach, developing innovative products such as generative AI, machine learning and computer-aided drug design to accelerate drug discovery and developing innovative products such as cloud-based project management tools to streamline research workflows.
Player-adopted strategies in the life science software market include focus on strategic partnerships to better serve the industry and to strengthen their position, focus on expanding its operational capabilities and to develop business expertise through strategic partnerships and focus on expanding its operational capabilities through new launches.
To take advantage of the opportunities, the analyst recommends the life science software market companies to focus on developing user-centric, data-driven solutions, focus on building strategic ecosystems and ai-driven platforms, focus on developing ai-powered digital pathology solutions, focus on leveraging ai and advanced computational tools, focus on cloud-based project management solutions, focus on prescriptive analytics solutions, focus on hosted solutions, expand in emerging markets, continue to focus on developed markets, focus on forming strategic partnerships to enhance innovation, focus on value-based and tiered pricing, focus on targeted digital campaigns, focus on strategic industry partnerships, focus on R&D solutions, focus on biopharmaceutical industry.
This product will be delivered within 3-5 business days.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Life Science Software Growth Analysis And Strategic Analysis Framework
9 Global Life Science Software Market Segmentation
10 Life Science Software Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape And Company Profiles
19 Other Major And Innovative Companies
22 Key Mergers And Acquisitions
23 Recent Developments In Life Science Software
24 Opportunities And Strategies and Potential Analysis
25 Life Science Software Market, Conclusions And Recommendations
26 Appendix
Executive Summary
Life Science Software Global Market Opportunities And Strategies To 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global life science software market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for life science software? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The life science software market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider life science software market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by deployment, by application and by end user.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis And Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size And Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by robot type, by application and by industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments - Information on recent developments in the market covered in the report.
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations - This section includes recommendations for life science software providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Markets Covered:
1) By Type: Predictive; Descriptive; Prescriptive2) By Deployment: On-Premises; Hosted
3) By Application: Marketing; Compliance; R&D; Pharmacovigilance; SCM
4) By End User: Healthcare Institutes; Biopharmaceutical Industry; Medical Devices Industry; Medical Research Centers
Companies Mentioned:Veeva Systems Inc.; IQVIA Holdings, Inc.; Microsoft (Life Sciences); Oracle Corp.; Dassault Systemes SE (Medidata Solution Inc.)
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions:Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; life science software indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Veeva Systems Inc.
- IQVIA Holdings, Inc.
- Microsoft (Life Sciences)
- Oracle Corp.
- Dassault Systemes SE (Medidata Solution Inc.)
- SAP SE
- UnitedHealth Group Incorporated (Optum Inc.)
- Thermo Fisher Scientific Inc.
- PerkinElmer
- Certara
- IBM
- Fujitsu Ltd
- DXC Technology Co
- Fred IT Group
- 4D Medical
- Bioclinica (Now part of Clario)
- Agaram Technologies
- Freyr Solutions
- Anaut Inc.
- Olympus Corporation
- YiduCloud (Yidu Tech)
- LinkDoc Technology
- iHridAI
- InMed AI
- Deep Bio
- Clarivate
- IDBS
- Aureus Sciences
- Instem
- Sophia Genetics
- Yumasoft
- BioSolveIT
- SAP SE
- Biocodex
- Salesforce Health Cloud
- Semaphore
- Biocodexand Arlenda
- Novel Software Systems
- Intelliseq
- Veeva Systems
- Medidata Solutions (a Dassault Systèmes company)
- ArisGlobal
- Certara
- Schrodinger
- Benchling
- Instem
- Trinity Life Sciences
- Indica Labs
- Valsoft Corporation
- Siemens
- Axtria Inc.
- Nicoya Lifesciences
- BenchSci
- Cyclica
- Zymewire
- Dassault Systèmes
- PBR Life Sciences
- HealthQ Technologies
