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.
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