|[October 23, 2013]
Research and Markets: Global Life Sciences Software Market 2012-2016 with Cegedim SA, Oracle Corp., SAP AG, and SAS Institute Inc. Dominating
DUBLIN --(Business Wire)--
Research and Markets (http://www.researchandmarkets.com/research/kj4nkr/global_life)
has announced the addition of the "Global
Life Sciences Software Market 2012-2016" report to their
The analysts forecast the Global Life Sciences Software market to grow
at a CAGR of 9.48 percent over the period 2012-2016. One of the key
factors contributing to this market growth is the increased need for
storing and effectively using patient information. The Global Life
Sciences Software market has also been witnessing the emergence of
SaaS (News - Alert)-based solutions. However, the high cost of implementation could
pose a challenge to the growth of this market.
The key vendors dominating this market space are AccelrysInc., Cegedim
SA, Medidata Solutions Inc., Oracle (News - Alert) Corp., SAP AG, and SAS Institute Inc.
The other vendors mentioned in the report are CambridgeSoft Corp., Model
N Inc., Perceptive Informatics Inc., PTC Therapeutics Inc., Revitas
Inc., TIBCO Software Inc., and Veeva Systes Inc.
Commenting on the report, an analyst from the team said: The emergence
of SaaS-based life sciences solutions has enabled organizations to
increase their efficiency and reduce the cost of deploying valuable IT
infrastructure. However, organizations are still analyzing the
feasibility and relevance of cloud computing solutions in their IT
operations. The SaaS-based model for life sciences solutions offers a
pay-per-use model, along with a one-time fee for software installation,
maintenance, upgrades, and lifetime support. Hence, the Global Life
Sciences Software market is witnessing a trend where vendors have begun
to offer their solutions through the SaaS-based model to expand their
services and enter new markets. In addition, life sciences solutions are
becoming increasingly popular since they enable organizations to
securely store, access, and maintain patient records, images, text, and
data. This in turn is increasing the adoption of SaaS-based solutions
during the forecast period.
According to the report, one of the major drivers in the market is the
increasing need for storage and effective usage of patient information
to improve healthcare services. There has been a tremendous increase in
the data generated in the Life Sciences sector over the years. In this
regard, digital systems have played a major role in the effective
management of these data, thereby enabling the Life Sciences sector to
evolve to a large extent. Healthcare records and patient data are
increasingly being converted to an electronic format since healthcare
providers seek to use such data securely and with ease.
Further, the report states that one of the major challenges is the high
cost of implementation. The deployment of life sciences solutions is an
expensive process since it involves defining organizational requirements.
For more information visit http://www.researchandmarkets.com/research/kj4nkr/global_life
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