Global Life Science Analytics Market
Life Science analytics market was valued at USD 13.24 billion in 2016 and is projected to reach USD 40.09 billion by 2025, growing at a CAGR of 13.1% from 2017 to 2025.
Life science analytics software is majorly utilized by Pharmaceutical companies becauseof them facing unpredictable demands, depleting operating margins and increasing regulatory scrutiny. Inadequate visibility across the supply chain is hampering optimal performance as global sourcing increases the risk of longer lead times.
The growing complexity of operations results in the need to increase agility by improving supply chain visibility. Life science analytics provides the solution for the rising demands and management.
1. Market Drivers
1.1 Technological services in Demand
1.2 Big Data Generation in life science sector
1.3 Increased cases of chronic diseases
1.4 Increased need of patient satisfaction and Healthcare data maintenance
1.5 Analytics software demand in Clinical Trial sector
1.6 Increasing usage of software in analysing sales and marketing
1.7 Improvement needed in Data Standardization
2. Market Restraints
2.1 Lack of experts who know the usage
2.2 Expensive implementation of technology
Life Science AnalyticsMarket is segmented on the basis of:
1. Life Science Analytics Market, by type:
1.1 Descriptive analytics
1.2 Predictive Analytics
1.3 Prescriptive Analytics
2. Life Science Analytics Market, by application:
2.1 Research and development
2.1.1 Preclinical trial
2.1.2 Clinical trial
2.2Sales and marketing
2.3 Regulatory Compliance
2.4 Supply Chain Analytics
3. Life Science Analytics Market, by component:
4. Life Science Analytics Market, by delivery:
4.1 On Premise
4.2 On Demand
5. Life Science Analytics Market, by End user:
5.1 Pharmaceutical and Biotech Industry
5.2 Medical Device Companies
5.3 Research centres
5.4 Third Party Administrators
6. Life Science Analytics Market, by Geography:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, Japan, India, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Rest of the World
The major players in the market are as follows:
7. Oracle Corpration
8. Scio Health Anaytics
9. Wipro Ltd.
10. Take Solutions
11. SAS Institute Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Life Science Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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