Rising investments in various segments of the life science industry, and rapid tech integration, make its long-term growth prospects look bright. So, we believe that the heightened need for tracking and storing clinical trials and data analysis should allow cloud-based life sciences software platforms IQVIA Holdings (NYSE:IQV) and Veeva Systems (NYSE:VEEV) to witness solid gains in the near-term. Read on.The rapid tech integration in the life sciences industry has paved the way for breakthrough innovations in drug discovery to treat critical diseases. Increasing investments in the life science industry are expected to transform the healthcare industry in the coming years, facilitated by descriptive analytics and cloud-based software platforms.
The surging demand for these software platforms in the life sciences industry incentivizes companies to innovate and grow. And the global life science analytics software market is expected to grow at 12.4% CAGR through 2028.
Given this backdrop, we think the shares of fundamentally sound life sciences software companies IQVIA Holdings Inc. (IQV) and Veeva Systems Inc. (VEEV) could deliver significant returns in the near term.