Veeva's Life Sciences CRM Hits Milestone

This milestone is part of a massive, mandatory migration for all Veeva customers from its legacy Salesforce-based CRM to the proprietary Veeva Vault platform. The company aims to have all clients transitioned by a 2030 deadline, with the peak migration period expected between 2026 and 2029. The competitive landscape has intensified significantly since Veeva's non-compete agreement with Salesforce expired in September 2025. This allowed Salesforce to launch its own specialized "Agentforce Life Sciences" cloud, directly challenging Veeva's long-held dominance. In 2023, Veeva held a leading 26.81% of the pharma and biotech CRM software market, followed by competitors IQVIA at 17.73% and Salesforce at 16.40%. This reflects a more contested market compared to the estimated 80% global market share Veeva historically commanded within the life sciences industry. The "agentic capabilities" are powered by Veeva AI, which launched for Vault CRM in December 2025. Key tools for sales reps include a Pre-call Agent that suggests actions and insights for meetings, and a Voice Agent to speed up data capture. While major firms like Merck and Novo Nordisk have committed to Vault CRM, the market is in flux. Salesforce has signed more than 40 life sciences customers to its new platform, including notable former Veeva clients like Pfizer, Takeda, and Novartis. Wall Street analysts maintain a consensus "Buy" rating for Veeva Systems (VEEV). The company's fiscal year 2025 revenue increased 16% year-over-year to $2.746 billion, demonstrating continued growth amidst the platform transition and rising competition.