Life Sciences IT Industry: An Assessment of the Market Opportunity and APEX Matrix Assessment

15 Jul 2016
by Abhishek Singh, Jimit Arora, Nitish Mittal

This report provides an overview of the IT market for the life sciences industry. Analysis includes market size & growth, forecasts (up to 2020), demand drivers, adoption & scope trends, key areas of investment, and implications for key stakeholders. The report features two special sections – the first focuses on the market opportunity (for service providers) and the second focuses on buyer’s maturity of digital adoption (for enterprises).

Key findings of the report include:

  • Pharmatechnology and biotechnology are the most favorable opportunity segments
  • R&D and supply chain lines of business will drive a higher share of sourcing decisions
  • Application development and testing will witness fastest growth in services
  • More than two-thirds of the current digital investments are focused on growth
  • Contrary to popular belief, European pharma industry is ahead of United States in global digital investments
  • Analytics and cloud are the drivers behind most LS digital deals

Key strategic questions addressed in this report include:

For service providers:

  • What is the biggest opportunity segment in the global life sciences industry?
  • Which service line (applications, testing, workplace services, etc.) will be the growth driver?
  • What are buyers doing differently in their sourcing strategy?
  • How to stay relevant in a highly competitive market?

For enterprises:

  • How are peers in my segment investing in digital as an opportunity?
  • Is digital investment about growth, efficiency, or both?
  • Which value chain areas (R&D, clinical, supply chain, marketing, etc.) are garnering most investments from peers in the segment?
  • Who are the service providers that can deliver on integrated sourcing?

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