Software as a Service: Are the Life Sciences Ready?

Abstract

This IDC study discusses the Life Science Insights industry model, which provides a history and critical evaluation of a sampling of vendor products that meet the definition of software as a service in the life science industry. This sampling includes failed products of the recent past, current endeavors, and promising products under development. It provides an objective analysis of these product offerings and the market opportunities they address.

According to Judy Hanover, research analyst, IDC Life Science Insights, "Vendors must provide users with both proprietary content of the highest quality and innovative applications to succeed with software as a service products in the life sciences." This analysis is designed to identify the factors that led to their success and/or failure and shed light on the issues surrounding them. An evaluation of the business model by segment, as well as advice and actionable suggestions for vendors in this space and those considering entry, is provided.