Global Life Sciences IT Market Growth (Status and Outlook) 2024-2030

Global Life Sciences IT Market Growth (Status and Outlook) 2024-2030

Life science IT plays a crucial role in life sciences by providing sophisticated tools and solutions to manage, analyze, and interpret complex biological data. Life science IT solutions are designed to streamline various processes within the life sciences domain, including research, drug discovery, clinical trials, and healthcare management. Life science IT software typically includes applications for data management, analysis, and visualization, facilitating the collection, storage, and interpretation of complex biological and clinical data. Life science IT solutions enable researchers to conduct experiments, analyze results, and make informed decisions in areas such as drug discovery, genomics, proteomics, and personalized medicine. Additionally, life science IT software often incorporates features for regulatory compliance, quality control, and collaboration, ensuring that organizations adhere to industry standards and best practices while fostering teamwork and knowledge sharing among multidisciplinary teams.

The global Life Sciences IT market size is projected to grow from US$ 23280 million in 2024 to US$ 44530 million in 2030; it is expected to grow at a CAGR of 11.4% from 2024 to 2030.

LPI (LP Information)' newest research report, the “Life Sciences IT Industry Forecast” looks at past sales and reviews total world Life Sciences IT sales in 2022, providing a comprehensive analysis by region and market sector of projected Life Sciences IT sales for 2023 through 2029. With Life Sciences IT sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Life Sciences IT industry.

This Insight Report provides a comprehensive analysis of the global Life Sciences IT landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Life Sciences IT portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Life Sciences IT market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Life Sciences IT and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Life Sciences IT.

The life sciences IT market size in expected to grow significantly, owing to high demand for advance analytical tool to analyze and manage large data generated in the healthcare sector, rise in adoption of the life science IT technology in the drug discovery and development, and growing trend towards digitalization of the healthcare system. According to life sciences IT market forecast, rise in demand for advanced analytical tools is expected to act as a significant driver for the growth of the life sciences IT market. The exponential increase in the volume of data generated within healthcare, fueled by electronic health records, genomic information, and real-time patient monitoring systems, has resulted in increase in demand for sophisticated analytical solutions for efficient analysis and management. For instance, according to a 2023 report by the National Library of Medicine, over 80% of digital data in healthcare is available as unstructured data, requiring new forms of data processing and standardizing that prove challenging to health researchers.

This report presents a comprehensive overview, market shares, and growth opportunities of Life Sciences IT market by product type, application, key players and key regions and countries.

Segmentation by Type:
Software
Services

Segmentation by Application:
Pharmaceutical and Biotechnology Companies
Contract Research and Development Organizations
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

Segmentation by Type:
Software
Services

Segmentation by Application:
Pharmaceutical and Biotechnology Companies
Contract Research and Development Organizations
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Thermo Fisher Scientific Inc
Oracle Corporation
Revvity, Inc
Clario
Illumina, Inc
Qiagen NV
Agilent Technologies, Inc
IBM Corporation
Genedata AG
DNAnexus, Inc

Please note: The report will take approximately 2 business days to prepare and deliver.