Overview

Science Analytics Market Introduction

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

There has been a rise in the variety and volume of medical information about the profile of patients, scientific research and regulatory and compliance requirements. Growing usage of mobile sensors and devices in life science and pharmaceutical organizations has increased the volume of data along with the data variety and velocity, driving the necessity for an innovative data analytics and data management approach. Conventional processing and collection of such data result in increased costs and there are no improvements in outcomes. Data analytics play a vital role in managing and segregating data efficiently. Companies like Google Inc., IBM Corporation, and Oracle Corporation, are focussing on the development of new tools for data analytics tools that can be used for various applications in the life science sector.

Moreover, biomedical and pharmaceutical firms have realized the real advantages of this evolutionary data ecosystem by using distributed computing power platforms and cloud-based storage. With the use of these tools, stakeholders and drug manufacturers in the life science sector are achieving better overall outcomes, delivering higher quality care at affordable costs and developing informative treatments and diagnoses. Additionally, these tools have made genomic and clinical data integration quite easier, which can assist drug manufacturers in developing advanced and high quality medicines. Increasingly complex and rapidly changing regulatory necessities have become a major risk to the life science industry. Analytics is aiding firms in reporting accurate regulations. The rising volume of generated data in the life science sector and the necessity to extract value from the data are steering the life science analytics market growth.

Key market players included in the life science analytics industry are SAS Institute Inc., IBM Corp., Oracle Corp., Iqvia, Accenture, Cognizant, Maxisit, Scio Health Analytics, Take Solutions, Wipro Ltd.

Life Science analytics market

Life Science Analytics Market Segmentation:

By Type

  • Descripted Analysis
  • Predictive Analysis
  • Prescriptive Analysis

By Application

  • Research and Development
  • Sales and Marketing
  • Pharmacovigilance
  • Regulatory Compliance
  • Supply Chain Optimization

By Component

  • Services
  • Software

By Delivery Model

  • On-Premise Delivery Model
  • On-Demand Delivery Model

By End User

  • Pharmaceutical and Biotechnological Companies
  • Medical device Components
  • Research Centres
  • Third Party Administrators

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

 

FutureWise Key Takeaways:

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

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the life science analytics market by type, by application, by component, by delivery model, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
  • To forecast and evaluate micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
  • To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers 

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What you get


  • Excel Dataset

  • Infographics

  • PDF Report

  • Market Overview

  • PowerPoint Presentation

What's included


  • Consumer Perception and Procurement

  • Competitive Analysis

  • What’s Next

  • Market Data Forecast

  • Risks and Opportunity Assessment

  • Market Trends and Dynamics