Life Science Analytics Market Forecasted to Hit $47.5 Billion in 2027

Life Science Analytics Market Forecasted to Hit $47.5 Billion in 2027

May 17
22:55 2024
Life Science Analytics Market Forecasted to Hit $47.5 Billion in 2027
Browse 211 market data Tables and 45 Figures spread through 251 Pages and in-depth TOC on ” Life Science Analytics Market by Type (Predictive, Descriptive, Prescriptive), Application(Sales & Marketing, Regulatory Compliance, R&D, Pharmacovigilance), Component(Software, Service), Delivery (On Premise, On Demand), End User -Global Forecast to 2027
Prominent players in this market include Oracle (US), IBM (US), SAS Institute Inc. (US), Accenture (Ireland), IQVIA Inc, (US), Cognizant (US), Wipro (India), Allscripts Healthcare, LLC (US), Optum, Inc. (US)

Life Science Analytics Market Size and Forecasts 2027

Life Science Analytics Market in terms of revenue was estimated to be worth $27.1 billion in 2022 and is poised to reach $47.5 billion by 2027, growing at a CAGR of 11.8% from 2022 to 2027 according to a new report by MarketsandMarkets™. The life science analytics market is mainly driven by factors such as rising technological advancements in analytical solutions and increasing adoption of analytics for sales and marketing applications. However, high implementation costs and data privacy concerns are expected to restrain the growth of this market to a certain extent.

Request for FREE Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=174990653

Browse in-depth TOC on “Life Science Analytics Market”

211 – Tables

45 – Figures

251 – Pages

Key Market Players of Life Science Analytics Industry:

Prominent players in this market include Oracle (US), IBM (US), SAS Institute Inc. (US), Accenture (Ireland), IQVIA Inc, (US), Cognizant (US), Wipro (India), Allscripts Healthcare, LLC (US), Optum, Inc. (US), Microsoft (US), MaxisIT (US), ExlService Holdings, Inc. (US), Cerner Corporation (US), Cotiviti, Inc. (US), Inovalon (US), CitiusTech Inc (US), Saama Technologies, LLC. (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot Inc. (US), Alteryx, Inc. (US), Sisense Inc. (US), Amazon Web Services, Inc., and Veeva Systems (US).

Life Science Analytics Market Dynamics:

Drivers:

  • Technological advancements
  • Big data in the life science industry
  • Growing adoption of analytics solutions in clinical trials
  • Increasing adoption of analytics for sales and marketing applications
  • Need for improved data standardization
  • Increasing prevalence of chronic diseases
  • Growing pressure to curb healthcare spending and the need for improved patient outcomes

Restraints:

 

  • High implementation costs

Opportunities:

  • Increasing focus on value-based medicine
  • Use of analytics in precision and personalized medicine
  • Use of big data analytics to increase R&D productivity
  • Emergence of social media and its impact on the life science industry

Challenges:

  • Data privacy issues
  • Data integration in the life science ecosystem
  • Dearth of skilled personnel

Make an Enquire to Buy This Report @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=174990653

North America is expected to hold the largest share of the life science analytics market

Based on region, the life science analytics market is divided into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Factors such as growing adoption of IT in the life science industry, rising pressure to reduce healthcare costs and presence of leading players are driving the growth in North American market.

The research report categorizes the life science analytics market to forecast revenue and analyze trends (life science industry trends) in each of the following submarkets:

By Type

  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics

By Component

  • Services
  • Software

By Delivery Model

  • On-premise model
  • On-demand model

By Application

  • Research & Development
  • Preclinical Trials
  • Clinical Trials
  • Sales & Marketing
  • Regulatory Compliance
  • Supply Chain Optimization
  • Pharmacovigilance

By End User

  • Pharmaceutical & Biotechnology Companies
  • Medical Device Companies
  • Research Centers
  • Third-party Administrators

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=174990653

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pharmaceutical-life-science-analytic-market-174990653.html

Categories