Cloud Computing in Life Sciences R&D Market Driven by Growing Demand for Cloud Computing

According to a recent market study published by Transparency Market Research (TMR), the global cloud computing in life science R&D market is expected to expand at a rapid pace during the period from 2015 to 2023 due to the increasing use of cloud computing in life science research and development.

Cloud computing provides storage and access of data and programs on the internet. Cloud computing uses connected servers and/or servers, instead of a personal computer, tablets, smartphones, or a hard drive, to store and run applications. Life science research and development activities include the scientific examination of living organisms such as microorganisms, animals, plants, and humans. Life science research and development activities primarily revolve around the biology of numerous living organisms. Rapid growth in the research and development activities has resulted in the rise in demand for cloud computing services in life science research and development.

Factors such as the increasing multistate and multinational clinical trials and the growing prevalence of chronic diseases are anticipated to propel the global cloud computing in life science R&D market during the forecast period. Research and development activities are professionally regulated across the globe. As the adoption of cloud computing technology in life science research and development has been made mandatory by regulatory authorities including the federal healthcare, the demand for cloud computing in life science R&D is poised to increase exponentially in the years to come.

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Issues such as data protection, online data confidentiality, ethical issues, and illegal access to personal data are expected to hamper the growth of the global cloud computing in life science R&D market in the near future. The global cloud computing in life science R&D market is segmented on the basis of type, technology, and geography. By type, the global cloud computing in life science R&D market is classified into virtual computing, high-performance computing, grid computing, utility computing, and mapreduce and hadoop.

Platform-as-a-service, software-as-a-service, and infrastructure-as-a-service are some of the technologies of cloud computing in life science R&D.     

Based on geography, the global cloud computing in life science R&D market is divided into Europe, North America, Asia Pacific, and Rest of the World. At present, North America dominates the global market, followed by Europe. Availability of well-structured regulatory framework and advanced research and development strategies are predicted to propel the North America cloud computing in life science R&D market in the forthcoming years.

Some of the leading companies in the global cloud computing in life science R&D market are IBM Corporation, Microsoft Corporation, Oracle Corporation, Hewlett-Packard (HP) Development Company, L.P., and Intel Corporation. Technical advancements and improved research and development activities by the new entrants are predicted to make the global cloud computing in life science R&D market highly competitive. However, mergers and acquisitions will help the leading players maintain their dominance throughout the forecast period.