Global Life Science Analytics market accounted for $19.44 billion in 2019 and is expected to reach $71.59 billion by 2027 growing at a CAGR of 17.7% during the forecast period. Increasing adoption of analytics for sales and marketing applications, increasing prevalence of chronic diseases, and big data in the life science industry are the factors driving the market growth.
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By geography, Asia-Pacific is expected to have the highest market share during the forecast period. Asia Pacific is anticipated to grow at the high growth during the forecast period owing to the increasing prevalence of chronic diseases, growth of the life science industry, increasing adoption of progressive technologies, and the rising focus of main players on increasing their existence in emerging Asian countries.
Some of the key players profiled in the Life Science Analytics Market include Accenture, Allscripts Healthcare Solutions, Cerner Corporation, Cognizant, Cotiviti, IBM Corporation, Infosys Limited, MaxisIT, Microsoft, Optum, Oracle Corporation, SAS Institute Inc, SCIO Health Analytics, Wipro.
Types Covered in Life Science Analytics Market
• Predictive Analytics
• Descriptive Analytics
• Diagnostic Analytics
• Discovery Analytics
• Prescriptive Analytics
• Reporting
Components Covered:
• Software
• Service
• Hardware
Applications Covered:
• Sales & Marketing
• Regulatory Compliance
• Research & Development (R&D)
• Pharmacovigilance (PV)
• Supply Chain Optimization
End Users Covered:
• Hospitals & Clinics
• Laboratories
• Medical Device Companies
• Pharmaceutical & Biotechnology Companies
• Research Centers
• Other End Users (Third-party Administrators TPAS)
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