The global Life Science Analytics Market is estimated to touch US$ 25.90 Billion by the year 2025. Growing digitalization in pharmaceuticals and life sciences business to increase its price chain is some of the important factors expected to increase the market above the prediction period. Additionally, decreasing efficiency of R&D and growing supervisory mistakes are approximately the reasons anticipated to motivate this market. The life science analytics market is estimated to develop at the CAGR of 12.9% for the duration of the prediction.

Growing price tag of healthcare is some of the essential factor expected to definitely influence the market. Emerging along with industrialized areas are fronting a lot of encounters in providing economical and qualitative attention. Likewise, administrative unpredictability, financial pressure, and absence of practical inventiveness may consequence in little finance for healthcare.

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More or less of the important features expected to increase the price of global healthcare are increasing number of claims relating to non-communicable sicknesses, main concern for wellness at place of work, and increasing emphasis on wellness between fully-grown and senior inhabitants. Increasing price of healthcare is estimated to increase demand for life science analytics to make more efficient third-party procedures and improve general budget.

The life science analytics market on the source of Type of Application could span Pharmacovigilance, Regulatory Compliance, Research and Development, Supply Chain Analytics, Sales and Marketing. The market on the source of Type of Delivery could span On-premises, on-demand. The market on the source of Type could span Prescriptive, Descriptive, Predictive, and Reporting.

The life science analytics market on the source of Type of Component could span Services, Software. The life science analytics market on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage in these areas, for the duration of the prediction period could span North America [U.S., Canada], Latin America [Brazil, Mexico], Western Europe [Germany, U.K.], Asia Pacific [ Japan, China], Middle East & Africa [South Africa].

By the source of geography, North America had ruled the market in the year 2016. Greater problem of non-communicable diseases due to surge in elderly inhabitants and unnatural way of life is an important motivating issue.

Market Segment:

Type Outlook (Revenue, USD Million, 2014 - 2025)
• Reporting
• Descriptive
• Predictive
• Prescriptive

Component Outlook (Revenue, USD Million, 2014 - 2025)
• Software
• Services

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Application Outlook (Revenue, USD Million, 2014 - 2025)
• Research and Development
• Sales and Marketing
• Regulatory Compliance
• Supply Chain Analytics
• Pharmacovigilance

Delivery Outlook (Revenue, USD Million, 2014 - 2025)
• On-demand
• On-premises

Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• MEA
• South Africa

Life Science Analytics Market is estimated to value over USD 35.5 billion by 2027 end and register a CAGR of over 12% during the forecast period 2020 to 2027.

The report initiates from the outline of business surroundings and explains the commercial summary of chain structure. Moreover, it analyses forecast by type, by application, by component, by delivery model, by end user, by region and Life Science Analytics Market Forecast.

Additionally, this report illustrates the corporate profiles and situation of competitive landscape amongst numerous associated corporations including the analysis of market evaluation and options associated with the worth chain. This report provides valuable insights on the general market profit through a profit graph, an in depth SWOT analysis of the market trends along side the regional proliferation of this business vertical.

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Market Segmentation:

This Market is divided By Type, by Application, by Component, by Delivery Model, by End User and by Region.

Regionally, the worldwide Life Science Analytics Market is fragmented as North America, Europe, Asia Pacific and also the rest of the world.

Key Market Players:

Major market players enclosed within this market are  SAS Institute Inc., IBM Corp., Oracle Corp., Iqvia, Accenture, Cognizant, Maxisit, Scio Health Analytics, Take Solutions, Wipro Ltd.

(Note: The list of the key players are going to be updated with the most recent market scenario and trends)

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FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points touching market growth

Competitive Landscape:

• Tier 1 players- well-established companies in the market accounting a major market share  
• Tier 2 players 
• Rapidly growing players
• New Entrants

Objectives of the Study:

• To offer with an complete analysis on the Life Science Analytics by type, by application, by component, by delivery model, by end user and by region.
• To cater comprehensive data on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To measure and forecast micro-markets and also the overall market
• To predict the market size, in key regions — North America, Europe, Asia Pacific and rest of the world
• To record and evaluate the competitive landscape mapping - product launches, technological advancements, mergers and expansions

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Market Analysis

The global life sciences market size was valued USD 19,165.22 million in 2018 and is predicted to grow at an 11.91% CAGR between 2019- 2025, reveals the new Market Research Future (MRFR) report. Life science analytics, simply put, is a tool that assists in drug discovery optimization process and clinical trials standardization. Prescriptive analytics, descriptive analytics, and predictive analytics are the most widely used life science analytics. The Cerner Millennium software and Allscripts’ Veradigm are the latest life sciences industry trends.

Numerous factors are adding to the Life Sciences Market size. Such factors, as revealed by the latest MRFR report, include increasing use of big data in the life science industry, the need for improved patient outcomes, increasing use of analytics tools for marketing applications and sales, and rising adoption of analytics solutions in clinical trials. Additional factors propelling the life sciences healthcare analytics market growth include rising incidence of chronic diseases, need for improved standardization, and rising pressure to reduce healthcare expenditure.

On the contrary, dearth of professionals and high implementation costs are factors that may limit the life science market growth over the forecast period.

Scope of the Report

The report categorizes the life science analytics market based on end user, deployment model, component, application, and type of analytics, regions, and key players. Life science analytics helps to capitalize on big data to improve the global collaboration resting on the precise clinical research information. It helps in standardizing the clinical trials data along with validating its adherence. In fact, advanced analytics helps early detection of prospective risks as well as proactively address the same.

Key Players

IQVIA (US), Oracle (US), IBM (US), SAS Institute Inc. (US), SCIOInspire, Corp. (US), Optum, Inc. (US), Saama Technologies, Inc. (US), McKesson Corporation (US), Inovalon (US), Health Catalyst (US), CitiusTech Inc. (US), Cerner Corporation (US), and Allscripts Healthcare, LLC (US).

Life Science Market Segmentation

• The MRFR Report provides an inclusive segmental analysis of the life science analytics market based on end user, deployment model, component, application, and type of analytics.

• By type of analytics, the life science analytics market is segmented into prescriptive analytics, descriptive analytics, and predictive analytics. Of these, descriptive analytics will lead the market over the forecast period for its increasing preference by life science companies as they work wonders to understand past trends.

• By application, the life science analytics market is segmented into supply chain optimization, sales and marketing, regulatory compliance, pharmacovigilance, and research & development. Research and development is again segmented into preclinical trials and clinical trials. Of these, research and development will dominate the market over the forecast period for the increasing use in the research and development activities to develop innovative life science products.

• Based on component, the life science analytics market is segmented into hardware, services, and software. Of these, the software segment will have a major share in the market over the forecast period for the increasing use of analytics software in the life science industry.

• By deployment model, the life science analytics market is segmented into cloud-based, on-premise, and deployment model. Of these, the on-premise model will command the largest share in the market over the forecast period.

• By end user, the life science analytics market is segmented into biotechnology and medical device companies, pharmaceutical, hospitals and clinics, and others. Of these, hospitals & clinics will spearhead the market over the forecast period as it augments healthcare productivity and minimizes clinical errors.

Regional Analysis

By region, the global life science analytics market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period for increasing adoption of healthcare IT solutions and increasing healthcare spending.

The life science analytics market in Europe is predicted to have the second-largest share over the forecast period for better availability of healthcare services and solutions, technological advancements, and increasing incidence of chronic diseases.

The life sciences analytics market in the APAC region is predicted to grow at a fast pace over the forecast period. The presence of several healthcare IT companies and fast-developing life sciences industry are adding market growth.

The life sciences analytics market in the MEA is predicted to have significant growth over the forecast period for rapid technological advancements and increasing support from the government to develop the healthcare IT industry.

Market Highlights:

Life science analytics is a tool that helps in clinical trials standardization and optimization of the drug discovery process.

According to MRFR analysis, the global Life Science Analytics Market Forecast

 is expected to register a CAGR of 11.91% during the forecast period of 2019 to 2025 and was valued at USD 19,165.22 million in 2018.

The growth of the global life science analytics market can be contributed to growing pressure to curb the healthcare expenditure, need for improved data standardization, and increasing prevalence of chronic diseases.

Key Players:

• Allscripts Healthcare
• Cerner Corporation
• CitiusTech Inc
• Health Catalyst
• Inovalon
• McKesson Corporation
• Saama Technologies
• Optum
• SCIOInspire
• SAS Institute Inc
• IBM
• Oracle
• IQVIA

Segmentation:

• The global life science analytics market has been segmented based on the type of analytics, application, component, deployment model, and end user.
• Based on the type of analytics, the global life science analytics market has been segmented into predictive analytics, descriptive analytics, and prescriptive analytics.
• The global life science analytics market, based on application, has been segmented into research & development, pharmacovigilance, regulatory compliance, sales & marketing, and supply chain optimization.
• The global life science analytics market has been segmented based on component, as software, services, and hardware.
• The global life science analytics market has been segmented, on the basis of deployment model, into on-premise and cloud-based.
• The market based on end user has been segmented into hospitals & clinics, pharmaceutical, biotechnology & medical device companies, and others. Hospitals & clinics segment held the largest market share in 2018 as it helps to minimize the clinical errors and increases healthcare productivity.

Regional Analysis:

Americas: The largest regional market.

North America: The North American market for life science analytics is growing due to the rising investments for technological advancements in the region.

US: The increasing R&D expenditure in the life sciences industry and rising adoption of information technology tools in the life sciences industry is expected to drive the market growth in the US. In 2015, the US spent USD 30.5 billion to support research in the life sciences industry. Thus, a similar trend of increasing R&D expenditure in the life sciences industry is expected to boost market growth during the forecast period.

Latin America: Increasing adoption of advanced technologies in the life sciences analytics industry is anticipated to drive the market growth.

Europe: Government initiatives to curb the healthcare costs, presence of a large number of life science companies and greater availability of life sciences software & services in the region are expected to drive the market growth. For instance, Skane, a city in South Sweden, has more than 300+ life science companies such as AstraZeneca, Getinge and Nobel Biocare, among others. Thus, presence of such international players increases the demand for life science analytical tools to streamline their processes and thereby is expected to drive the market growth.

UK: Increasing adoption of big data in the life sciences industry and high R&D expenditure in the life sciences sector in the UK is expected to drive the market growth.

Germany: The rising number of clinical trials in Germany, leading to the high adoption of analytical solutions for efficiently carrying out the clinical trials, is expected to drive the market growth.

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Market Highlights:

Life science analytics is a tool that helps in clinical trials standardization and optimization of the drug discovery process.

According to MRFR analysis, the global Life Science Analytics Market Forecast is expected to register a CAGR of 11.91% during the forecast period of 2019 to 2025 and was valued at USD 19,165.22 million in 2018.

The growth of the global life science analytics market can be contributed to growing pressure to curb the healthcare expenditure, need for improved data standardization, and increasing prevalence of chronic diseases.

Key Players:

• Allscripts Healthcare
• Cerner Corporation
• CitiusTech Inc
• Health Catalyst
• Inovalon
• McKesson Corporation
• Saama Technologies
• Optum
• SCIOInspire
• SAS Institute Inc
• IBM
• Oracle
• IQVIA

Segmentation:

• The global life science analytics market has been segmented based on the type of analytics, application, component, deployment model, and end user.
• Based on the type of analytics, the global life science analytics market has been segmented into predictive analytics, descriptive analytics, and prescriptive analytics.
• The global life science analytics market, based on application, has been segmented into research & development, pharmacovigilance, regulatory compliance, sales & marketing, and supply chain optimization.
• The global life science analytics market has been segmented based on component, as software, services, and hardware.
• The global life science analytics market has been segmented, on the basis of deployment model, into on-premise and cloud-based.
• The market based on end user has been segmented into hospitals & clinics, pharmaceutical, biotechnology & medical device companies, and others. Hospitals & clinics segment held the largest market share in 2018 as it helps to minimize the clinical errors and increases healthcare productivity.

Regional Analysis:

Americas: The largest regional market.

North America: The North American market for life science analytics is growing due to the rising investments for technological advancements in the region.

US: The increasing R&D expenditure in the life sciences industry and rising adoption of information technology tools in the life sciences industry is expected to drive the market growth in the US. In 2015, the US spent USD 30.5 billion to support research in the life sciences industry. Thus, a similar trend of increasing R&D expenditure in the life sciences industry is expected to boost market growth during the forecast period.

Latin America: Increasing adoption of advanced technologies in the life sciences analytics industry is anticipated to drive the market growth.

Europe: Government initiatives to curb the healthcare costs, presence of a large number of life science companies and greater availability of life sciences software & services in the region are expected to drive the market growth. For instance, Skane, a city in South Sweden, has more than 300+ life science companies such as AstraZeneca, Getinge and Nobel Biocare, among others. Thus, presence of such international players increases the demand for life science analytical tools to streamline their processes and thereby is expected to drive the market growth.

UK: Increasing adoption of big data in the life sciences industry and high R&D expenditure in the life sciences sector in the UK is expected to drive the market growth.

Germany: The rising number of clinical trials in Germany, leading to the high adoption of analytical solutions for efficiently carrying out the clinical trials, is expected to drive the market growth.

NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.