Top 5 vendors in the global life science software market from 2017 to 2021: Technavio.
Technavio has announced the top five leading vendors in their recent global life science software market 2017-2021 report. The market research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
Competitive Vendor Landscape
According to the market research analysis, the global life science software market is fragmented and offers ample opportunities for M&A. Large enterprises and core life sciences solutions vendors can enter partnerships and work in collaboration with each other to improve their market presence.
The market is driven by technology, and the small vendors focus on introducing technological innovations. However, the lack of resources hampers the growth of their businesses. Large enterprises, such as Oracle, SAS, and SAP, use M&A as a strategy for exploring new markets.
“The market is witnessing the entry of numerous pure-play SaaS-based life sciences solutions providers that compete with the large open-source life sciences solutions providers. The organizations assess the vendors based on the technical knowledge of life sciences solutions and the quality of the products,” says Ishmeet Kaur, a lead enterprise application analyst from Technavio.
Technavio market research analysts identify the following key vendors:
Medidata Solutions provides SaaS-based clinical technology solutions. It offers Medidata Rave platform that eliminates the use of traditional paper-based methods of capturing and managing clinical data. The product portfolio of the company includes Medidata Insights, Medidata Designer, Medidata Grants Manager, Medidata Contract Research Organization, Medidata CTMS, Medidata Patient Cloud, Medidata Balance, Medidata Rave, Medidata Coder, and iMedidata.
Oracle develops, manufactures, and markets enterprise databases, applications software, middleware software, and hardware systems. The life science solutions offered to the clinical industry helps in managing large volumes of patient data. These solutions organize clinical data and improve its efficiency and quality by converting it into an electronic format. The company helps the pharmaceutical and biotechnology industries by enhancing the quality and speed of medical communication.
SAP offers application, analytics software, and software-related services for enterprises worldwide. SAP solutions for the life sciences industry help pharmaceutical, biotechnology, and medical device companies to attain operational and financial excellence. These solutions strengthen the collaboration among customers and suppliers. The products and services offered by the company help the life science industry to innovate and improve the quality of drugs.
SAS Institute offers business intelligence (BI) and analytical software. The company provides life sciences solutions such as SAS Clinical Data Integration, SAS Drug Development, and SAS for Physician Targeting. SAS Clinical Data Integration allows organization and management of clinical research data and metadata. SAS Drug development allows the organization to collate data from all the relevant sources. It stores data related to clinical research and places it in a centralized repository.
Veeva Systems supplies cloud-based software to the life sciences companies across the world. The medical solutions offered by the company include software, data, and strategic services needed for medical teams to identify the stakeholders and provide scientific information. The life science software helps in streamlining operations and maximize customer engagement. Veeva R&D Cloud increases the speed and efficiency in document management. Veeva Vault is a cloud management platform that increases accessibility, visibility, and reduces time to market (TTM).
Interested parties may click here to request a sample report. Technavio’s sample reports are free of charge and contain multiple sections of the report, including the market size and forecast, drivers, challenges, and trends. The full report is available at a fee.
(Source: Business Wire)