Life Science Analytics Market Competitors Analysis & Business Opportunities 2027

Posted by rutikashete on May 20th, 2021

Reports and Data’s newest report, titled ‘Global Life Science Analytics Market,’ is primarily focused on the historical and current market analyses. The report stresses on the most fundamental factors that are expected to influence the growth of the Life Science Analytics industry over the forecast years. Our team of market analysts has offered meaningful insights into the industry’s future growth prospects, implementing a set of avant-garde analytical tools, such as Porter’s Five Forces analysis, SWOT analysis, and investment analysis.  The report entails significant market information, assessed through both primary and secondary research methodologies, and derives industry-leading insights to help readers get an accurate idea of the ever-evolving Life Science Analytics market.

Life Science Analytics refers to a clinical research analysis that includes the use of a statistical approach to enhance clinical outcomes. The vast databases generated on the basis of past reports allow health practitioners and pharmaceutical firms to forecast potential patterns in care. Life science research has developed as a major part of health care management. It promotes the application of data for the factual study of predictive components of health care. It is a valuable method for identifying uses across different medical devices, pharmaceutical, biotechnological, and life science firms.

COVID-19 Impact on the Life Science Analytics Business Landscape

The latest research report draws readers’ focus on the grave impact of the COVID-19 pandemic on the global Life Science Analytics market and its key segments and sub-segments. The coronavirus outbreak has had an unprecedented impact on the global economic landscape. The report considers the COVID-19 pandemic as one of the leading contributors to the potential downturn of this business vertical. The global Life Science Analytics market has been adversely impacted by the pandemic, which has brought about several disruptive changes to the market dynamics and demand trends. Therefore, the pandemic has led to acute financial crises all across the industry, slowing down the progress of the businesses involved in this sector. However, the report offers an analysis of the overall impact of the pandemic on the Life Science Analytics market’s growth.

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Global Life Science Analytics Market Segmentation:

The latest report enumerates the leading products manufactured in this industry, their application areas, as well as end-use industries.

By Type (Revenue, USD Million; 2017-2027)

  • Descriptive
  • Prescriptive
  • Predictive

By Component (Revenue, USD Million; 2017-2027)

  • Services
  • Software

By Delivery Model (Revenue, USD Million; 2017-2027)

  • On-demand model
  • On-premise model

By Application (Revenue, USD Million; 2017-2027)

  • Clinical Trials
  • Preclinical Trials
  • Research & Development
  • Pharmacovigilance
  • Regulatory Compliance
  • Sales & Marketing
  • Supply Chain Optimization

By End-User (Revenue, USD Million; 2017-2027)

  • Research Centers
  • Medical Device Companies
  • Pharmaceutical & Biotechnology Companies
  • Third-party Administrators

Market Drivers

The global demand for life science analytics is expected to develop at a remarkable pace of growth in the forthcoming years. Contract research companies are increasingly utilising predictive analytics for clinical trials and drug development, generating growth opportunities for this market. As a result, the increasing use of mHealth, eHealth, and Electronic Health Records (EHR) stimulate the demand for life science analytical resources to stimulate global market growth. However, high costs of deployment and data protection concerns are some of the primary constraints for market development.

Regional Outlook

According to this study, in terms of sales, the North American region dominates the global market for life science research. The growing prevalence of chronic diseases, the growing life sciences sector, the growing implementation of smart drug development innovations and disease treatment planning, as well as the existence of developed companies in the area, such as the SAS Institute, Infosys, Microsoft, Oracle and IQVIA, are key aspects of the growth of the market. In February 2020, IQVIA, an innovation global site service, called the Avacare Clinical Testing Network, was introduced. Its special analytical tools allow quicker and more efficient medical testing.

Geographical Segmentation:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Leading companies profiled in the report:

  • Accenture
  • IBM
  • Wipro Limited
  • Cognizant
  • Oracle
  • Cerner Corporation
  • SAS Institute, Inc.
  • MaxisIT
  • Cotiviti
  • TAKE Solutions Limited
  • Others

Key Highlights of the Report:

  • The market report comprises a broad segmentation of the global Life Science Analytics market on the basis of product type, application gamut, end-use landscape, regional landscape, and competitive scenario.
  • The report lists the key business expansion strategies undertaken by the leading market competitors, such as mergers & acquisitions, collaborations, R&D investments, and product innovations, technological upgradation, etc.
  • The report exhaustively assesses the present market situation, downstream buyers, and upstream feedstock.
  • Additionally, the report gauges the significant impact of modern technologies, such as artificial intelligence and big data analytics, and social media platforms, on the Life Science Analytics market development in the near future.

Thank you for reading our report. Customization of the report is available according to the requirements of our clients. Kindly connect with our team to know more about the report

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