Srinagar Magazine

Life Science Analytics Market worth $42.0 billion by 2025 – Significant Development, Emerging Growth Factors and Regional Forecast

 Breaking News
  • No posts were found

Life Science Analytics Market worth $42.0 billion by 2025 – Significant Development, Emerging Growth Factors and Regional Forecast

November 19
08:12 2021
Life Science Analytics Market worth $42.0 billion by 2025 - Significant Development, Emerging Growth Factors and Regional Forecast
The life science analytics market is a highly diversified and competitive market, with a large number of players, including mid-tier companies and startup firms, competing for market shares. Oracle Corporation (US), Accenture (Ireland), SAS Institute Inc. (US), IBM Corporation (US), IQVIA (US), Wipro (India), Cognizant (US), SCIO Health Analytics (US), Allscripts Healthcare Solutions (US), Cerner Corporation (US), Microsoft (US), Infosys Limited (US), MaxisIT (US), Optum (US), and Cotiviti (US)
Life Science Analytics Market Research Report Gives in Detailed Analysis of Industry Segments, Opportunities, Growth and Size That Will Help Your Business Grow.

According to the new market research report Life Science Analytics Market by Type (Predictive, Descriptive, Prescriptive), Application (Marketing, Compliance, Clinical trial, R&D, Pharmacovigilance, SCM), Component (Software, Service), Delivery, End User, & Region – Global Forecast To 2025″, published by MarketsandMarkets™, the global Life Science Analytics Market size is expected to reach 42.0 billion by 2025 from USD 22.1 billion in 2020, at a CAGR of 13.7% during the forecast period of 2020 to 2025.

Browse and in-depth TOC on “Life Science Analytics Market”426- Tables41- Figures301- Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=174990653

The Growth in this market is mainly driven by technological advancements, big data in the life science industry, growing adoption of analytics solutions in clinical trials, increasing adoption of analytics for sales and marketing applications, need for improved data standardization, increasing prevalence of chronic diseases, growing pressure to curb healthcare spending, and the need for improved patient outcomes. On the other hand, high implementation costs are expected to restrain the growth of this market to a certain extent.

The on-demand model segment is expected to grow at the highest CAGR during the forecast period.

Based on the delivery mode, the Life Science Analytics Market is segmented into the on-demand model and the on-premise model. The on-demand model segment is expected to grow at the highest CAGR during the forecast period, owing to advantages such as increasing demand for self-driven analytics, lack of upfront capital investments for hardware, extreme capacity flexibility, and pay-as-you-go pricing of this model.

The descriptive analytics segment accounted for the largest market share in 2019.

Based on type, the market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. The descriptive analytics segment accounted for the largest share of the Life Science Analytics Market in 2019. The large share of this segment is attributed to the significant usage of descriptive analytics by stakeholders to gain a better understanding of the past trends and events occurring in real-time.

Request Sample Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=174990653

In 2019, North America accounted for the largest share of the market.

In 2019, North America accounted for the largest market share, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the growing adoption of IT in the life science industry, rising pressure to reduce healthcare costs, stringent regulations for the pharma-biotech and medical device industries, and the greater product and service availability in this region.

The prominent players operating in the Life Science Analytics Market are Oracle Corporation (US), Accenture (Ireland), SAS Institute Inc. (US), IBM Corporation (US), Wipro (India), Cognizant (US), SCIO Health Analytics (US), Allscripts Healthcare Solutions (US), Cerner Corporation (US), IQVIA (US), Microsoft (US), Infosys Limited (US), MaxisIT (US), Optum (US), and Cotiviti (US).

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/pharmaceutical-life-science-analytic-market-174990653.html