Global Life Science Analytics Market Size, Trends, by Type (Predictive, Descriptive, Perspective), By Application (Sales & Marketing, Regulatory Compliance, R&D, Pharma Covigilance), and By Component (Software, Services), by Delivery (On-Premises, On-Demand), By End User (Medical Devices Companies, Research Centres, Third Party Administrations): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Life Science Analytics Market
Global Life Science Analytics Market was valued at US$ 27.1 Bn in 2022, estimated to reach US$ 52.3 Bn by 2030, with a CAGR of 8.56% from 2023-2030.
Life sciences analytics is defined as any analytical application used in the pharmaceutical medical device companies, clinical research organizations, and numerous divisions, including research, marketing, pharmacovigilance, supply chain, and others. It is a process of clinical data analysis that offers predictive tools for better patient care.
Market Drivers
The need for improved patient outcomes, the rising adoption of analytics solutions in pharmaceuticals and clinical trials, the increasing pressure to cut healthcare spending, and the emergence of advanced analytics techniques in life science companies are the key drivers of the life sciences analytics market. The use of analytics in clinical trials is increasing as the process of conducting clinical trials has grown more challenging due to the involvement of several activities and the production of large amounts of data from multiple systems. The use of analytics for clinical trials is growing because of the evolving regulatory protocol requirements for clinical trial conduct and the difficulties in data collecting, analysis, and report compilation in a timely manner for submission to the health authority.
Market Restraints
Lack of skilled personnel and high implementation costs are expected to restrain the market growth during the forecast period.
Market Segmentation
The scope of the life science analytics market covers segmentation based on By Type, By Application, By component, By Delivery, By End User and by region.
By Type the market is segmented into Predictive, Descriptive, Perspective, By Application market is bifurcated into Sales & Marketing, Regulatory Compliance, R&D, Pharma Covigilance and By Component it is divided into Software and Services Further by Delivery the market is segmented into On-Premises, On-Demand,
Further the market is segmented By End User it is divided into Medical Devices Companies, Research Centres and Third-Party Administrations.
Regional Analysis
The global Life Science Analytics Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America holds a significant share of the life science analytics market as the region is well-established in terms of healthcare R&D. In addition, a considerable rise in healthcare spending by the government and the increasing importance of life science analytics in drug development are other factors fueling the market growth in the region.
Key Players
Oracle, IBM, Sas Institute Inc., Accenture, IQVIA Inc., Cognizant, WIPRO, Allscripts LLC, Optum INC, Microsoft , etc.
Market Taxonomy
By Type
- Predictive
- Descriptive
- Perspective
- Sales & Marketing
- Regulatory Compliance
- R&D
- Pharma Covigilance
- Software
- Services
- On-Premises
- On-Demand
- Medical Devices Companies
- Research Centers
- Third Party Administrators
- North America
- U.S.
- Canada
- Mexico
- Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Life science Analytics Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.2.4 Cumulative Impact Due to recent Energy Crisis
- 4.2.5 Cumulative Impact due to nearing Economic Downturn
- 4.2.6 Post Covid-19 World Supply and Demand Conditions
- 4.2.7 Cumulative Impact of Russia-Ukraine Conflict
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Life science Analytics Market, By Type
- 5.1 Y-o-Y Growth Comparison, By Type
- 5.2 Global Life science Analytics Market Share Analysis, By Type
- 5.3 Global Life science Analytics Market Size and Forecast, By Type
- 5.3.1 Predictive
- 5.3.2 Descriptive
- 5.3.3 Prescriptive
- 6 Global Life science Analytics Market, By Application
- 6.1 Y-o-Y Growth Comparison, By Application
- 6.2 Global Life science Analytics Market Share Analysis, By Application
- 6.3 Global Life science Analytics Market Size and Forecast, By Application
- 6.3.1 Sales & Marketing
- 6.3.2 Regulatory Compliance
- 6.3.3 R & D
- 6.3.4 Pharma Covigilance
- 7 Global Life science Analytics Market, By Component
- 7.1 Y-o-Y Growth Comparison, By Component
- 7.2 Global Life science Analytics Market Share Analysis, By Component
- 7.3 Global Life science Analytics Market Size and Forecast, By Component
- 7.3.1 Software
- 7.3.2 Services
- 8 Global Life science Analytics Market, By Delivery
- 8.1 Y-o-Y Growth Comparison, By Delivery
- 8.2 Global Life science Analytics Market Share Analysis, By Delivery
- 8.3 Global Life science Analytics Market Size and Forecast, By Delivery
- 8.3.1 On-Premises
- 8.3.2 On- Demand
- 10 Global Life science Analytics Market, By End User
- 10.1 Y-o-Y Growth Comparison, By End User
- 10.2 Global Life science Analytics Market Share Analysis, By End User
- 10.3 Global Life science Analytics Market Size and Forecast, By End User
- 10.3.1 Medical Devices Companies
- 10.3.2 Research Centres
- 10.3.3 Third Party Administrators
- 11 Global Life science Analytics Market, By Region
- 11.1 Global Life science Analytics Market Share Analysis, By Region
- 11.2 Global Life science Analytics Market Share Analysis, By Region
- 11.3 Global Life science Analytics Market Size and Forecast, By Region
- 12 North America Life Science Analytics Market Analysis and Forecast (2023 – 2030)
- 12.1 Introduction
- 12.2 North America Life Science Analytics Market Share Analysis, By Type
- 12.3 North America Life Science Analytics Market Size and Forecast, By Application
- 12.4 North America Life Science Analytics Market Size and Forecast, By Component
- 12.5 North America Life Science Analytics Market Size and Forecast, By Delivery
- 12.5 North America Life Science Analytics Market Size and Forecast, By End User
- 12.5 North America Life Science Analytics Market Size and Forecast, By Country
- 12.5.1 U. S
- 12.5.2 Canada
- 12.5.3 Mexico
- 13 Europe Life science Analytics Market Analysis and Forecast (2023 – 2030)
- 13.1 Introduction
- 13.2 Europe Life science Analytics Market Share Analysis, By Type
- 13.3 Europe Life science Analytics Market Size and Forecast, By Application
- 13.4 Europe Life science Analytics Market Size and Forecast, By Component
- 13.5 Europe Life science Analytics Market Size and Forecast, By Delivery
- 13.6 Europe Life science Analytics Market Size and Forecast, By End User
- 13.7 Europe Life science Analytics Market Size and Forecast, By Country
- 13.7.1 Germany
- 13.7.2 France
- 13.7.3 UK
- 13.7.4. Rest of Europe
- 14 Asia Pacific Life Science Analytics Market Analysis and Forecast (2023 – 2030)
- 14.1 Introduction
- 14.2 Asia Pacific Life Science Analytics Market Share Analysis, By Type
- 14.3 Asia Pacific Life Science Analytics Market Size and Forecast, By Application
- 14.4 Asia Pacific Life Science Analytics Market Size and Forecast, By Component
- 14.5 Asia Pacific Life Science Analytics Market Size and Forecast, By Delivery
- 14.6 Asia Pacific Life Science Analytics Market Size and Forecast, By End User
- 14.7 Asia Pacific Life Science Analytics Market Size and Forecast, By Country
- 14.7.1 China
- 14.7.2 Japan
- 14.7.3 India
- 14.7.4. Rest of Asia Pacific
- 15 Latin America Life Science Analytics Market Analysis and Forecast (2023 – 2030)
- 15.1 Introduction
- 15.2 Latin America Life Science Analytics Market Share Analysis, By Type
- 15.3 Latin America Life Science Analytics Market Size and Forecast, By Application
- 15.4 Latin America Life Science Analytics Market Size and Forecast, By Component
- 15.5 Latin America Life Science Analytics Market Size and Forecast, By Delivery
- 15.6 Latin America Life Science Analytics Market Size and Forecast, By End User
- 15.7 Latin America Life Science Analytics Market Size and Forecast, By Country
- 16 Middle East Life Science Analytics Market Analysis and Forecast (2023 – 2030)
- 16.1 Introduction
- 16.2 Middle East Life Science Analytics Market Share Analysis, By Type
- 16.3 Middle East Life Science Analytics Market Size and Forecast, By Application
- 16.4 Middle East Life Science Analytics Market Size and Forecast, By Component
- 16.5 Middle East Life Science Analytics Market Size and Forecast, By Delivery
- 16.6 Middle East Life Science Analytics Market Size and Forecast, By End User
- 16.7 Middle East Life Science Analytics Market Size and Forecast, By Country
- 17 Competitive Analysis
- 17.1 Competition Dashboard
- 17.2 Market share Analysis of Top Vendors
- 17.3 Key Development Strategies
- 18 Company Profiles
- 18.1 ORACLE
- 18.1.1 Overview
- 18.1.2 Offerings
- 18.1.3 Key Financials
- 18.1.4 Business Segment & Geographic Overview
- 18.1.5 Key Market Developments
- 18.1.6 Key Strategies
- 18.2 IBM
- 18.2.1 Overview
- 18.2.2 Offerings
- 18.2.3 Key Financials
- 18.2.4 Business Segment & Geographic Overview
- 18.2.5 Key Market Developments
- 18.2.6 Key Strategies
- 18.3 SAS Institute Inc.
- 18.3.1 Overview
- 18.3.2 Offerings
- 18.3.3 Key Financials
- 18.3.4 Business Segment & Geographic Overview
- 18.3.5 Key Market Developments
- 18.3.6 Key Strategies
- 18.4 Accenture
- 18.4.1 Overview
- 18.4.2 Offerings
- 18.4.3 Key Financials
- 18.4.4 Business Segment & Geographic Overview
- 18.4.5 Key Market Developments
- 18.4.6 Key Strategies
- 18.5 IQVIA INC.
- 18.5.1 Overview
- 18.5.2 Offerings
- 18.5.3 Key Financials
- 18.5.4 Business Segment & Geographic Overview
- 18.5.5 Key Market Developments
- 18.5.6 Key Strategies
- 18.6 COGNIZANT
- 18.6.1 Overview
- 18.6.2 Offerings
- 18.6.3 Key Financials
- 18.6.4 Business Segment & Geographic Overview
- 18.6.5 Key Market Developments
- 18.6.6 Key Strategies
- 18.7 WIPRO
- 18.7.1 Overview
- 18.7.2 Offerings
- 18.7.3 Key Financials
- 18.7.4 Business Segment & Geographic Overview
- 18.7.5 Key Market Developments
- 18.7.6 Key Strategies
- 18.8 Allscripts LLC.
- 18.8.1 Overview
- 18.8.2 Offerings
- 18.8.3 Key Financials
- 18.8.4 Business Segment & Geographic Overview
- 18.8.5 Key Market Developments
- 18.8.6 Key Strategies
- 18.9 Optum, INC.
- 18.9.1 Overview
- 18.9.2 Offerings
- 18.9.3 Key Financials
- 18.9.4 Business Segment & Geographic Overview
- 18.9.5 Key Market Developments
- 18.9.6 Key Strategies
- 18.10 Microsoft
- 18.10.1 Overview
- 18.10.2 Offerings
- 18.10.3 Key Financials
- 18.10.4 Business Segment & Geographic Overview
- 18.10.5 Key Market Developments
- 18.10.6 Key Strategies
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