Global Life Science Analytics Market is expected to reach USD 39.80 billion by 2025, from USD 14.97 billion in 2017, growing at a CAGR of 14.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Global Life Science Analytics Market, By Type (Descriptive, Predictive, Prescriptive), By Component (Software, Services), By Application (Research & Development, Others), By Delivery Model (On-premise, On-demand), By End User (Pharmaceutical & Biotechnology Companies, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Major Market Competitors/Players:
- SAS Institute Inc.
- IBM Corporation
- Oracle Corporation
- Scio Health Analytics
- Take Solutions
- Wipro Limited
- Saama Technologies, Inc.
- Acumen Analytics
- SG Analytics
- The Smart Cubes
- Life Science Analytics, Inc.
- PointCross Life Sciences
- Incedo Inc.
- Zephyr Health
- QlikTech International AB
- Fractal Analytics Inc.
- Among others.
Major Market Drivers and Restraints:
- Increasing prevalence of chronic disease
- Technological advancements
- Increased demand for errorless data
- Lack of skilled professionals
- High cost budget
The analytic tools offer accuracy, precision and errorless execution in life science sector. In recent year life science analytics has become a very helpful tool in various fields such as pharmaceutical, biotechnological, and medical device enterprises. The life sciences involved the detail study of organisms including plants, animals and human beings and characterized by numerous aspects of molecular biology and biotechnology. The growing demand of analytics tools has enhanced the development of the products. Therefore, Major market participants are continuously engaging in R&D to achieve product development and increase application scope in analytic tools market.. For instance, in September 2017, Saama Technologies, Inc., (U.S.) a leading big data and advanced analytics Solutions Company launched Life Science Analytics Cloud. The product is designed to improve clinical development processes and deliver outcomes by reorganizing the steps of the entire clinical data journey. The growing prevalence of chronic diseases is driving the market. According to Centers for Disease Control and Prevention (CDC), by 2012 about half of all adults, 117 million people had one or more chronic health conditions. Diabetes, arthritis, obesity and others are the most common prevalent chronic diseases.
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The global life science analytics market is segmented on the basis of type, component, application, delivery model and end user.
The market is segmented on the basis of type into:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
The market is segmented on the basis of component into:
The market is segmented on the basis of application into:
- Research and Development
- Sales and Marketing Support
- Regulatory Compliance
- Supply Chain Analytics
Research and development is further segmented into:
- Preclinical Trials
- Clinical Trials
The market is segmented on the basis of delivery model into:
The market is segmented on the basis of end users into:
- Pharmaceutical and Biotechnology Companies
- Medical Device Companies
- Research Centers
- Third-Party Administrators
Based on geography the analytics market report covers data points for 28 countries across multiple geographies namely:
- North America
- South America
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
This report consists of below pages:
• No of pages: 350
• No of Figures: 60
• No of Tables: 220
The global life science analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of life science analytics for global, Europe, North America, Asia Pacific and South America.
Frequently Asked Questions:
- What will the market size be in 2025?
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- What are the challenges to market growth?
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- What are the market opportunities and threats faced by the key players?
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