The market is currently at an early stage of maturation, the consultancy firm noted. Competition from numerous smaller participants is limited, and tier-one companies continue to dominate.
As various kinds of data emerge for a variety of situations, there will be a growing need for effective tools to store and view this material.
"The industry has a unique feature wherein solution providers provide customised solutions to adopters," said Frost & Sullivan research analyst S M Vinod.
"The process of customisation enables end users to choose according to their requirements, allowing the solution to match the needs of the diverse sectors within the life sciences market."
Vinod added that, although most companies specialise in data integration, a few participants provide data quality and integration. There are also a few firms providing hardware and software solutions.
"The requirement for data integration is certain and this 'need' phenomenon will characterise not just a few but the entire bulk of life sciences and pharmaceutical/biotechnology/medical device firms," said Vinod.
"Hence, the activity currently witnessed in the area is a minuscule subset of the potential application sectors that data integration can serve."
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