A recent report published by Infinium Global Research on life
science analytics market provides in-depth analysis of segments and
sub-segments in the global as well as regional life science analytics market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional life science analytics market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global life science analytics market.
According to the report, the global life science analytics market is projected
to grow at a CAGR of 11.8% over the forecast period of 2019-2025.
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
component, 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.
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.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of life science
analytics market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.