The latest report on “Life Science Analytics Market (Type – Predictive, Prescriptive, and Descriptive; Component – Software, and Service; Application – Sales and Marketing, Compliance, Supply Chain Management, Pharmacovigilance, and Research and Development; End-user – Medical Device Companies, Laboratory, and Pharmaceutical Companies, and Biomedical Companies): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global life science analytics market is projected to grow at a CAGR of 11.8% over the forecast period of 2019-2025.
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Companies operating in the life science analytics market are focusing on research and development that promote innovations. Huge data generation and the need for data standardization create opportunities for companies to innovate new solutions in the life science analytics market. The leading players in the life science analytics market are increasing their market share through mergers, acquisitions, and new product development.
Advancement in data analytics tools in various operations in the life science industry drives the growth of the life science analytics market. The increasing use of sensors and mobile devices in life sciences organizations and pharmaceuticals contributes to the growth of the life science analytics market. Data analytics tools combine genomic and clinical data and help manufacturers in the development of advanced personalized medicines. The rising adoption of the data ecosystem with cloud-based storage by pharmaceutical and biomedical companies promotes the growth of the life science analytics market.
The increasing volume of data generated in the life science industry stimulates the growth of the life science analytics market. The growing adoption of analytics solutions in clinical trials propels the growth of the life science analytics market. In addition, factors such as enhanced data standardization and surge in demand for improved patient outcomes promote the growth of the life science analytics market. On the other side, a huge implementation cost hinders the growth of the life science analytics market. Moreover, technological development and its adoption in healthcare create numerous opportunities for the growth of the life science analytics market.
Based on geography, the global life science analytics market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America is anticipated to have the largest share in the global life science analytics market. The rising technological advancement in the pharmaceutical and biotechnology sectors in North America drives the growth of the life science analytics market in North America. Asia-Pacific region is expected to grow in the global life science analytics market with a significant CAGR over the forecast period. The increasing investments in the life science industry in countries like India, China contributes to the growth of the life science analytics market in Asia-Pacific. Europe is showing growth in the global life science analytics market.
The report on the global life science analytics market covers segments such as type, component, application, and end-user. On the basis of type, the sub-markets include predictive, prescriptive, and descriptive. On the basis of components, the sub-markets include software and service. On the basis of application, the sub-markets include sales and marketing, compliance, supply chain management, pharmacovigilance, and research and development. On the basis of end-user, the sub-markets include medical device companies, laboratory and pharmaceutical companies, and biomedical companies.
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The report provides profiles of the companies in the market such as International Business Machines Corporation, SAS Institute Inc., Oracle Corporation, TAKE Solutions Ltd., Accenture PLC, Cognizant Technology Solutions Corporation, MaxisIT, Inc., Wipro Limited, IQVIA RDS Inc., SCIOInspire Holdings Inc., and other companies.
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=> Comprehensive analysis of global as well as regional markets of the life science analytics.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.