Global Life Science Analytics Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Healthcare Date : January 15th, 2019
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Global Life Science Analytics market is expected to grow significantly from USD 10.6 billion in 2017 to USD 25.2 billion in 2024, at a CAGR of 12.1% from 2018 to 2024. Factors driving the growth of the market are; technological advancements and availability of big data in life science industry. Moreover, growing adoption of analytics solutions for clinical trials, and marketing as well as sales applications coupled with increasing need for improved data standardization is expected to fuel the market over the forecast period.The years used for the assessment are as follows:

Historical year: 2014, 2015, 2016

Base year: 2017

Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total global life science analytics market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global life science analytics market
  • Finalizing the overall size and share of the global life science analytics market

OBJECTIVES:

  • To analyze market trends, opportunities, drivers, and restraints associated with the global life science analytics market
  • To study market response with respect to the mergers and acquisitions in the industry
  • To profile key companies operating in the global life science analytics market and provide their competitive landscape

MARKET SCOPE

The research scope for Global Life Science Analytics Market is as follows:

By Type

  • Descriptive analytics
  • Predictive analytics
  • Prescriptive analytics

By Component

  • Software
  • Service

By Delivery

  • On-premise
  • On-demand

By Application

  • Research and Development
  • Clinical Trials
  • Sales and Marketing Support
  • Regulatory Compliance
  • Supply Chain Analytics
  • Pharmacovigilance

By End-user

  • Pharmaceutical and Biotechnology Companies
  • Third-Party Administrators
  • Research Centers
  • Medical Device Companies

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America
  • Middle East and Africa

As healthcare industry is exponentially growing due to the rising number of patients, it requires appropriate and systematic way of maintaining the patient’s record. The life science analytics serves encapsulation, management, and analysis of data effectively, without losing any information.  It is a tool used to integrate the patient’s data including patient’s health, profiling, scientific research, and regulatory requirements. Also, it supports wide range of medical and healthcare functions such as disease surveillance, clinical decision support as well as clinical analytics. Moreover, Life science analytics provides available tools, infrastructures, and techniques to leverage a large amount of data effectively, and helps overcome the risk of losing potentially millions of dollars in revenue and profits.

Geographically, the global life science analytics market is segmented into North America, Europe, Asia-Pacific, Central & South America, and Middle East and Africa. North America held the major share of the global market in 2017, owing to growing adoption of new technologies and presence of major player in the region. However, Asia-Pacific region is expected to register highest CAGR over the forecast period.This is mainly attributed to the extensively growing pharmaceutical and biotechnology industry in developing countries such as India and China.

Some of the key companies operating in the market include IBM Corporation, Wipro Limited, SCIO Health Analytics, MaxisIT, Inc., Quintiles, Inc., TAKE Solutions Limited, Oracle Corporation, SAS Institute, Inc., and IQVIA.

Global Life Science Analytics Market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Global Life Science Analytics- Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global life science analytics market

3.4. Market opportunities & trends

3.4.1. Advancements in Technology

3.5. Market driver analysis

3.5.1. Growing demand for analytics in sales and marketing applications

3.5.2. Availability of big data in life science industry

3.5.3. Growing adoption of analytics solutions in pharmaceutical and biotechnological industries

3.6. Market restraint analysis

3.6.1. Lack of skilled professionals

3.7. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Company share analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Life Science Analytics Market Size and Forecast (2014 – 2024)

5.1. Global Life Science Analytics Market, By Type (USD Billion)

5.1.1. Descriptive Analytics

5.1.2. Predictive Analytics

5.1.3. Prescriptive Analytics

5.2. Global Life Science Analytics Market, By Component (USD Billion)

5.2.1. Software

5.2.2. Service

5.3. Global Life Science Analytics Market, By Delivery (USD Billion)

5.3.1. On-premise

5.3.2. On-demand

5.4. Global Life Science Analytics Market, By Application (USD Billion)

5.4.1. Research and Development

5.4.2. Clinical Trials

5.4.3. Sales and Marketing Support

5.4.4. Regulatory Compliance

5.4.5. Supply Chain Analytics

5.4.6. Pharmacovigilance

5.5. Global Life Science Analytics Market, By End-user (USD Billion)

5.5.1. Pharmaceutical and Biotechnology Companies

5.5.2. Third-Party Administrators

5.5.3. Research Centers

5.5.4. Medical Device Companies

CHAPTER 6. Global Life Science Analytics Market, By Geography

6.1. North America Life Science Analytics Market

6.1.1. North America Life Science Analytics Market By Type (USD Billion)

6.1.2. North America Life Science Analytics Market By Component (USD Billion)

6.1.3. North America Life Science Analytics Market By Delivery (USD Billion)

6.1.4. North America Life Science Analytics Market By Application (USD Billion)

6.1.5. North America Life Science Analytics Market, By End-user (USD Billion)

6.1.6. North America Life Science Analytics Market, By Country

   6.1.6.1. U.S.

   6.1.6.2. Canada

   6.1.6.3. Mexico

6.2. Europe Life Science Analytics Market

6.2.1. Europe Life Science Analytics Market By Type (USD Billion)

6.2.2. Europe Life Science Analytics Market By Component (USD Billion)

6.2.3. Europe Life Science Analytics Market By Delivery (USD Billion)

6.2.4. Europe Life Science Analytics Market By Application (USD Billion)

6.2.5. Europe Life Science Analytics Market, By End-user (USD Billion)

6.2.6. Europe Life Science Analytics Market, By Country

   6.2.6.1. Germany

   6.2.6.2. France

   6.2.6.3. U.K.

   6.2.6.4. Rest of Europe

6.3. Asia-Pacific Life Science Analytics Market

6.3.1. Asia-Pacific Life Science Analytics Market By Type (USD Billion)

6.3.2. Asia-Pacific Life Science Analytics Market By Component (USD Billion)

6.3.3. Asia-Pacific Life Science Analytics Market By Delivery (USD Billion)

6.3.4. Asia-Pacific Life Science Analytics Market By Application (USD Billion)

6.3.5. Asia-Pacific Life Science Analytics Market, By End-user (USD Billion)

6.3.6. Asia-Pacific Life Science Analytics Market, By Country

   6.3.6.1. China

   6.3.6.2. Japan

   6.3.6.3. Australia

   6.3.6.4. India

   6.3.6.5. Rest of Asia-Pacific

6.4. Central & South America Life Science Analytics Market

6.4.1. Central & South America Life Science Analytics Market By Type (USD Billion)

6.4.2. Central & South America Life Science Analytics Market By Component (USD Billion)

6.4.3. Central & South America Life Science Analytics Market By Delivery (USD Billion)

6.4.4. Central & South America Life Science Analytics Market By Application (USD Billion)

6.4.5. Central & South America Life Science Analytics Market, By End-user (USD Billion)

6.4.6. Central & South America Life Science Analytics Market, By Country

   6.4.6.1. Argentina

   6.4.6.2. Brazil

   6.4.6.3. Rest of Central & South America

6.5. Middle East and Africa Life Science Analytics Market

6.5.1. Middle East and Africa Life Science Analytics Market By Type (USD Billion)

6.5.2. Middle East and Africa Life Science Analytics Market By Component (USD Billion)

6.5.3. Middle East and Africa Life Science Analytics Market By Delivery (USD Billion)

6.5.4. Middle East and Africa Life Science Analytics Market By Application (USD Billion)

6.5.5. Middle East and Africa Life Science Analytics Market, By End-user (USD Billion)

6.5.6. Middle East and Africa Life Science Analytics Market, By Country

   6.5.6.1. Saudi Arabia

   6.5.6.2. South Africa

   6.5.6.3. Rest of Middle East and Africa

CHAPTER 7. Key Players and Strategic Developments

7.1. IBM Corporation

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Wipro Limited

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. SCIO Health Analytics

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. MaxisIT, Inc.

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Quintiles, Inc.

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. TAKE Solutions Limited

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Oracle Corporation

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. SAS Institute, Inc.

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. IQVIA

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Abbreviation

Global Life Science Analytics Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024