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Life Science Analytics Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast

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Global Life Science Analytics Market is predicted to value over USD 35.5 billion by 2026 end and register a CAGR of over 12% during the forecast period 2019 to 2026.
Life Science Analytics Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global Life Science Analytics Market is predicted to value over USD 35.5 billion by
2026 end and register a CAGR of over 12% during the forecast period 2019 to 2026.
The global life science analytics market growth is primarily steered by advancements
in technology, increased usage of solutions for analytics in clinical trials, big data in
the life science industry, growing analytics adoption for marketing and sales
applications, the necessity of improvements in the standardization of data,
increasing presence of persistent diseases, rising pressure to reduce healthcare
expenditure and the necessity for improvements in the patient outcomes. On the
contrary, high costs of implementation are projected to impede the augmentation of
this market to a substantial extent.
The descriptive analytics accounted for the largest global life science analytics market
share in 2018. This can be credited to the life science stakeholders substantially using
descriptive analytics in order to better understand the past events and life science
analytics market trends that occur in real-time.
The biotechnology and pharmaceutical firms dominated the market in 2018. This can
be credited to the high usage of solutions for analytics by biotechnology and
pharmaceutical firms.
North America held the largest market share, which is followed by the European
region. Although, the Asia Pacific region is predicted to augment with the highest
growth rate over the forecast period due to the rising presence of persistent
diseases, rising adoption of advanced technologies, growth of the life science
industry and the rising emphasis of key players on their prevalence in developing
Asian nations.
Key market players included in the global life science analytics industry are SAS
Institute Inc., IBM Corp., Oracle Corp., Iqvia, Accenture, Cognizant, Maxisit, Scio
Health Analytics, Take Solutions, Wipro Ltd.
Cornell University and IBM collaborated in June 2017 using big data analytics
combined with next-generation sequencing. The company, in February 2017,
announced the specialized Watson Health Consulting Services unit and the Watson
Platform for Health Cloud. Such developments are projected to assist the company in
order to maintain its strong market presence in the market in the upcoming years.
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Global Life Science Analytics Market Segmentation:
By Type
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Descripted Analysis
Predictive Analysis
Prescriptive Analysis
By Application
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Research and Development
Sales and Marketing
Pharmacovigilance
Regulatory Compliance
Supply Chain Optimization
By Component
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Services
Software
By Delivery Model
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On-Premise Delivery Model
On-Demand Delivery Model
By End User
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Pharmaceutical and Biotechnological Companies
Medical device Components
Research Centres
Third Party Administrators
By Region
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North America
Europe
Asia Pacific
Rest of the World
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FutureWise Key Takeaways:
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Growth prospects
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SWOT analysis
Key trends
Key data-points affecting market growth
Objectives of the Study:
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To provide with an exhaustive analysis on the global 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 mappingtechnological advancements, product launches, expansions and mergers
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We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
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Contact Person: Vinay Thaploo
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