DUBLIN--(BUSINESS WIRE)--The "Global Life Science Analytics Market By Component, By Application, By End User, By Delivery Mode, By Type, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Life Science Analytics Market size is expected to reach $12.5 billion by 2026, rising at a market growth of 8% CAGR during the forecast period.
Life science and healthcare groups can put their data into prompt, significant usage with artificial intelligence (AI) analytics platforms. Life sciences analytics tools allow biopharma companies to keep their data protected while allowing their researchers and scientists to analyze drug outcomes in seconds and therefore clinical trial results can be easily compared with historical genomics data.
Analytics platforms have not up till now reached the level of complete maturity necessary to act as a separate enterprise solution and these are still seen as modest assets within pharmaceutical companies. As the surge in the volume of data delivered through the new biological, clinical process, chemical, epidemiological, economic, and some other channels endures to grow, a novel era of analytics is evolving with more demand for analytics compute services. The analytics service supplier landscape external to the pharmaceutical companies is various and will keep growing till pharma itself catches up with some other industries.
Companies Profiled
- Oracle Corporation
- IBM Corporation
- Microsoft Corporation
- Accenture PLC
- Cognizant Technology Solutions Corporation
- Infosys Limited
- IQVIA Holdings, Inc.
- AllScripts Healthcare Solutions, Inc.
- Cerner Corporation
- SAS Institute, Inc.
Based on Component, the market is segmented into Services and Software. In the year 2019, the services segment has the largest revenue share in the market. Due to the growing penetration of analytics services, like preventive maintenance, social media analytics, manufacturing process, projecting life science analytics for medical devices and equipment, and benchmarking services, the services segment has the bulk market share.
Based on Application, the market is segmented into Sales & Marketing Support, Research and Development (R&D), Pharmacovigilance, Supply Chain Analytics and Regulatory Compliance. The R&D segment is expected to propagate at the fast rate in the coming years. Growing R&D cost, reduction in innovations, and the influence of digitalization in research and development are among the few factors that are anticipated to drive the usage of life science analytics in research activities in order to increase its productivity.
Based on End User, the market is segmented into Pharmaceutical, Medical Devices, Biotechnology and Other End Users. The pharmaceutical segment in the year 2019 has led the market and has the largest revenue share of the market. This is accredited to the growing applications of life science analytics in the pharmaceutical sector like reduction in clinical trials, drug discovery, sales and marketing, and risk management.
Based on Delivery Mode, the market is segmented into On-Premise and On-demand. The on-demand segment is anticipated to be the fastest-growing segment due to the growing requirement for on-demand disposition to decrease the overall cost acquired in the server and also to get personalized services as per the business requirements.
Based on Type, the market is segmented into Descriptive, Predictive, Reporting and Prescriptive. The Predictive life science analytics segment is anticipated to show rapid growth in the market, due to the enormous customer pool that is fascinated in accepting the existing market scenario. Furthermore, the cost connected with acquiring Predictive data or reports is relatively lower than that of prescriptive life science analytics, due to which these reports can be acquired by stakeholders across the market range.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific is anticipated to grow at the high growth during the forecast period owing to the increasing prevalence of chronic diseases, growth of the life science industry, increasing adoption of progressive technologies, and the rising focus of main players on increasing their existence in emerging Asian countries.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2017, Apr - 2020, Oct) Leading Players
Chapter 4. Global Life Science Analytics Market by Component
Chapter 5. Global Life Science Analytics Market by Application
Chapter 6. Global Life Science Analytics Market by End User
Chapter 7. Global Life Science Analytics Market by Delivery Mode
Chapter 8. Global Life Science Analytics Market by Type
Chapter 9. Global Life Science Analytics Market by Region
9.1 North America Life Science Analytics Market
9.2 Europe Life Science Analytics Market
9.3 Asia Pacific Life Science Analytics Market
9.4 LAMEA Life Science Analytics Market
Chapter 10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/izaa8x
