Life Sciences State of the Market – Key Trends, Service Provider Performance in 2019, and Outlook for 2020​

27 Feb 2020
by Nitish Mittal, Chunky Satija, Pranav Kumar, Priya Sahni

In 2019, the life sciences industry continued to innovate despite policy changes and increasing pressure to reduce drug prices. Digital transformation has been identified as a strategic imperative by many life sciences enterprises, and service providers and technology vendors are significantly ramping up their digital capabilities and proprietary solutions portfolios to cater to this need. The overall life sciences IT services market is projected to grow at a CAGR of 9% from 2019 to reach US$31 billion by 2025.

In 2020, we expect IT services spend growth in life sciences to remain steady due to a combination of market drivers, such as unaddressed cost and efficiency opportunities and onshore talent deficit, as well as market inhibitors, such as increased insourcing and rationalization.

Scope:

This report examines the global 2019 life sciences ITS service provider landscape and covers themes expected to garner greater interest in 2020. It analyzes key market trends in the life sciences space and provides a snapshot of all the life sciences IT services PEAK Matrix® assessments carried out in 2019.

Contents:

The report is structured into four sections:

  • Key enterprise themes that dominated the life sciences market in 2019
  • Current and projected market for life sciences IT services
  • Life sciences IT services deals up for renewal
  • Market outlook for 2020 and beyond

Membership(s)

Life Sciences IT Services (ITS)

 

Page Count: 41