Worldwide Life Science Software Market Shares, 2020: A Market That Sustained and Grew Despite the COVID-19 Pandemic

Worldwide Life Science Software Market Shares, 2020: A Market That Sustained and Grew Despite the COVID-19 Pandemic

This IDC study reviews 2019 and 2020 revenue in the worldwide life science software market (including contributions from software as a service but excluding IT infrastructure)."The life science software industry has played a key role in driving resiliency. Not only has it accelerated the development of critical vaccines, but it has also played a key role in ensuring equitable delivery, with high levels of transparency. There is an accelerating demand for intelligent solutions leveraging artificial intelligence (AI) and unified cloud-based platforms and solutions that drive interoperability in what is increasingly becoming a disaggregated model of healthcare," states Dr. Nimita Limaye, research VP, Life Sciences R&D Strategy and Technology, at IDC Health Insights."After a year of adjustment to remote work and collaboration due to COVID-19, major life science software players have demonstrated strong growth through the pandemic. Customers have embraced cloud-based SaaS solutions that allow research, manufacturing, and commercial teams to thrive even when working remotely. Most life science companies have begun to implement solutions enhanced by advanced analytics and artificial intelligence to allow them to generate valuable business and discovery insights from an enormous amount of data from many sources," according to Mike Townsend, research director for Life Sciences Commercial Strategies at IDC Health Insights.

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