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
By Application
• Sales & Marketing
• Regulatory Compliance
• R&D
• Pharma Covigilance
By Component
• Software
• Services
By Delivery
• On-Premises
• On-Demand
By End User
• Medical Devices Companies
• Research Centers
• Third Party Administrators
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Global Life science Analytics Market
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
