H1 2019 Life Sciences Software Market Update
Madison Park Group (MPG) actively tracks the life sciences software landscape and has been instrumental in strategic deals across the drug development & commercial spectrum.
Through MPG’s time in the space, we’ve noticed a number of trends and developments:
- Virtual clinical trial applications are gaining significant traction as organizations aim to increase the efficiency of patient recruiting
- Artificial intelligence (AI) and machine learning (ML) applications continue to pour into the life science industry, attracting high-profile, early-stage investments
- Multiple large acquisitions and aggressive sponsor buyout activity illustrates bullish buyer views of the life science software market
- Pharma IT spend will accelerate as a result of continuous development of novel therapies, changing policies in insurance and pricing, and an ongoing need for operational efficiency