IMARC Group has recently released a new research study titled “Life Science Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global life science analytics market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market is expected to exhibit a growth rate (CAGR) of 13.3% during 2023-2028.
Life science analytics is the systematic computational assessment of biological data to gain insights about living organisms. It uses data to perform better research and helps develop and manufacture new products. It is largely used in clinical research organizations, pharmaceutical, medical device companies, and several other divisions, including pharmacovigilance, supply chain, research, and marketing.
Life science analytics employs artificial intelligence (AI), standard technologies, machine learning (ML), and big data. Analytical software creates and exports exploratory models for decision-making. Additionally, it helps in medical trials, clinical research, disease diagnosis, supply chain management, sales and marketing, and drug discovery and development.
Market Trends and Drivers:
The growing adoption of life science analytics in the early detection of pathology and the development of effective treatment alternatives is one of the key factors boosting the market growth. Additionally, the surging demand for analytical insights for clinical trials and burgeoning investments in research and development (RD) activities to enhance production capabilities are accelerating the market growth.
Furthermore, significant improvements in the existing healthcare infrastructure and the rapid expansion in the life science industry are other growth-inducing factors. Apart from this, the increasing prevalence of chronic diseases and the development of innovative e-prescribing, telemedicine, and mHealth tools by key players are providing a considerable thrust to the market.
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Competitive Landscape With Key Players:
The competitive landscape of the life science analytics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Accenture Plc
- Cognizant
- Wipro Limited
- International Business Machines Corporation
- IQVIA Inc.
- Oracle Corporation
- Rockwell Automation Inc.
- Infosys Limited
- SAS Institute Inc.
- TAKE Solutions Limited
Key Market Segmentation:
The report has segmented the global life science analytics market based on type, component, deployment mode, application, end use and region.
Breakup by Type:
- Reporting
- Descriptive
- Predictive
- Prescriptive
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-demand
- On-premises
Breakup by Application:
- Research and Development
- Sales and Marketing Support
- Supply Chain Analytics
- Pharmacovigilance (PV)
- Others
Breakup by End Use:
- Medical Devices
- Pharmaceuticals
- Biotechnology
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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