Global Global Life Science Analytics Market is valued approximately USD 19.44 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.70 % over the forecast period 2020-2027. Life Science is a study of living organisms and various life forms which can include plants, animals, viruses, bacteria, other micro-organisms and even cells . .Also, Pharmaceutical and life science companies use life science analytics to solve data integration problems, unpredictable demand, and improve operational performance.. The increasing investments in urgent care, increasing in digitization of pharmaceutical companies, use of various technologies such as big data analytics, predictive analytics, and strategic development between hospitals and urgent care providers has led the adoption of Global Life Science Analytics across the forecast period.
For Instance: According to a new study by the Society of Actuaries Predictive analytics and Big Data analytics is now being used by 47 percent of healthcare organisations, . Predictive analytics is also expected to save companies 25% or more in annual costs over the next five years, according to over 57 percent of healthcare sectors.Also according to Govt of India due to the heavy investments in health sector the hospital industry is going to expand to $132 billion by 2023, from $61.8 billion in 2017 However, high implementation costs and data privacy concerns impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing prevalence of pandemics, the adoption & demand for Global Life Science Analytics is likely to increase the market growth during the forecast period.
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The regional analysis of global Life Science Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the growing geriatric population, pandemics and promptness & affordability of urgent care services coupled with the well-established healthcare infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising incidences of injuries and improving healthcare infrastructure would create lucrative growth prospects for the Global Life Science Analytics market across Asia-Pacific region.
Major market player included in this report are:
IBM Corporation
Oracle Corporation
Sas Institute Inc.
Accenture
Iqvia
Cognizant
Wipro Limited
Optum
Microsoft Corporation
Cerner Corporation
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
By Component
Services
Software
By Delivery Model
On-premise model
On-demand model
By Application
Research & Development
Preclinical Trials
Clinical Trials
Sales & Marketing
Regulatory Compliance
Supply Chain Optimization
Pharmacovigilance
By End-User
Pharmaceutical & Biotechnology Companies
Medical Device Companies
Research Centers
Third-party Administrators
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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