Life Science Analytics Market size is projected to reach USD 42.0 billion by 2025, at a CAGR of 13.7%

The global life science analytics market size is projected to reach USD 42.0 billion by 2025 from USD 22.1 billion in 2020, at a CAGR of 13.7% during the forecast period. 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, and growing pressure to curb healthcare spending. On the other hand, high implementation costs are expected to restrain the growth of this market to a certain extent.

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The prominent players operating in the global 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).

“Prescriptive analytics segment to grow at the highest CAGR during the forecast period.”

Based on type, the life science analytics market is segmented into descriptive, predictive, and prescriptive analytics. The descriptive analytics segment accounted for the largest share of the life science analytics market in 2019, while the prescriptive analytics segment is projected to grow at the highest CAGR during the forecast period due to its ability to ensure the synergistic integration of predictions and prescriptions.

“Services segment accounted for the largest share of the life science analytics market in 2019.”

Based on components, the life science analytics market is segmented into services and software. The services segment accounted for the largest market share in 2019 and is expected to register the highest growth during the forecast period. The large share and high growth in this segment can be attributed to the recurring need for services such as software upgrades and maintenance.

 “Asia Pacific is expected to record the highest growth rate during the forecast period.”

By region, the life science analytics market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America accounted for the largest market share in 2019. The large share of this market is attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology. However, Asia is expected to grow at the highest CAGR during the forecast period. Factors such as increasing R&D investments, an increase in drug development-based research, rising pressure to comply with regulatory requirements, and low manufacturing costs in the region are supporting the growth of the life science analytics market in Asia.

The break-down of primary participants is as mentioned below:

  • By Company Type: Tier 1 (32%), Tier 2 (44%), and Tier 3 (24%)
  • By Designation: C-level Executives (30%), Directors (34%), and Others (36%)
  • By Region: North America (40%), Europe (28%), Asia (20%), and the RoW (12%)

Research Coverage:

This report provides a picture of the life science analytics market. It aims at estimating the size and future growth potential of the market across different segments, such as type, component, deployment model, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies for strengthening their market presence.

  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the global life science analytics market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service launches in the global life science analytics market
  • Market Development: Comprehensive information on the lucrative emerging regions
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the global life science analytics market
  • Competitive Assessment: In-depth assessment of product offered, market shares, growth strategies, and revenue analysis of leading players in the global life science analytics market

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Life Science Analytics: Market Segmentation
1.3.2 Years Considered For The Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
1.7 Summary Of Changes
1.8 Limitations Of The Current Edition

2 Research Methodology
2.1 Research Data
Figure 2 Research Design
2.1.1 Secondary Sources
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Sources
Figure 3 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
Figure 4 Breakdown Of Primary Interviews
2.2 Market Size Estimation
Figure 5 Market Size Estimation: Revenue Share Analysis
Figure 6 Revenue Share Analysis Illustration
Figure 7 Bottom-Up Approach
Figure 8 Top-Down Approach
2.3 Market Breakdown And Data Triangulation
Figure 9 Data Triangulation Methodology
2.4 Market Share Estimation
2.5 Assumptions For The Study

3 Executive Summary
Figure 10 Life Science Analytics Market, By Type, 2020 Vs. 2025 (Usd Billion)
Figure 11 Life Science Analytics Market, By Application, 2020 Vs. 2025 (Usd Billion)
Figure 12 Life Science Analytics Market, By Component, 2020 Vs. 2025 (Usd Billion)
Figure 13 Life Science Analytics Market, By Delivery Model, 2020 Vs. 2025 (Usd Billion)
Figure 14 Life Science Analytics Market, By End User, 2020 Vs. 2025 (Usd Billion)
Figure 15 Geographical Snapshot: Life Science Analytics Market

4 Premium Insights
4.1 Life Science Analytics Market Overview
Figure 16 Technological Advancements And Growing Adoption Of Analytics Solutions For Clinical Trials Are Driving Market Growth
4.2 Life Science Analytics Market, By Type
Figure 17 Descriptive Analytics To Dominate The Life Science Analytics Market In 2020
4.3 Life Science Analytics Market, By End User
Figure 18 North America To Hold The Largest Share Of The Life Science Analytics End-User Market In 2020
4.4 Geographic Snapshot: Life Science Analytics Market
Figure 19 Asia Pacific To Register The Highest Growth During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 20 Life Science Analytics Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Technological Advancements
5.2.1.2 Big Data In The Life Science Industry
5.2.1.3 Growing Adoption Of Analytics Solutions In Clinical Trials
5.2.1.4 Increasing Adoption Of Analytics For Sales And Marketing Applications
5.2.1.5 Need For Improved Data Standardization
5.2.1.6 Increasing Prevalence Of Chronic Diseases
5.2.1.7 Growing Pressure To Curb Healthcare Spending And The Need For Improved Patient Outcomes
Figure 21 Healthcare Spending As A Percentage Of The Gdp, By Country, 2017
5.2.2 Restraints
5.2.2.1 High Implementation Costs
5.2.3 Opportunities
5.2.3.1 Increasing Focus On Value-Based Medicine
5.2.3.2 Use Of Analytics In Precision And Personalized Medicine
5.2.3.3 Use Of Big Data Analytics To Increase R&D Productivity
5.2.3.4 Emergence Of Social Media And Its Impact On The Life Science Industry
5.2.4 Challenges
5.2.4.1 Data Privacy Issues
5.2.4.2 Data Integration In The Life Science Ecosystem
5.2.4.3 Dearth Of Skilled Personnel
5.3 Impact Of The Covid-19 Pandemic On The Life Science Analytics Market
Figure 22 Impact Of Covid-19 On The Life Science Analytics Market

6 Life Science Analytics Market, By Type
6.1 Introduction
Table 1 Life Science Analytics Market, By Type, 2017-2019 (Usd Million)
Table 2 Life Science Analytics Market, By Type, 2020-2025 (Usd Million)
6.2 Descriptive Analytics
6.2.1 Descriptive Analytics Segment To Dominate The Life Science Analytics Market
Table 3 Descriptive Analytics Market, By Region, 2017-2019 (Usd Million)
Table 4 Descriptive Analytics Market, By Region, 2020-2025 (Usd Million)
Table 5 North America: Descriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 6 North America: Descriptive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 7 Europe: Descriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 8 Europe: Descriptive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 9 Asia Pacific: Descriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 10 Asia Pacific: Descriptive Analytics Market, By Country, 2020-2025 (Usd Million)
6.3 Predictive Analytics
6.3.1 Predictive Analytics Solutions Can Help Increase The Accuracy Of Data-A Key Factor Driving Market Growth
Table 11 Predictive Analytics Market, By Region, 2017-2019 (Usd Million)
Table 12 Predictive Analytics Market, By Region, 2020-2025 (Usd Million)
Table 13 North America: Predictive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 14 North America: Predictive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 15 Europe: Predictive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 16 Europe: Predictive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 17 Asia Pacific: Predictive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 18 Asia Pacific: Predictive Analytics Market, By Country, 2020-2025 (Usd Million)
6.4 Prescriptive Analytics
6.4.1 Prescriptive Analytics Segment To Witness High Growth During The Forecast Period
Table 19 Prescriptive Analytics Market, By Region, 2017-2019 (Usd Million)
Table 20 Prescriptive Analytics Market, By Region, 2020-2025 (Usd Million)
Table 21 North America: Prescriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 22 North America: Prescriptive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 23 Europe: Prescriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 24 Europe: Prescriptive Analytics Market, By Country, 2020-2025 (Usd Million)
Table 25 Asia Pacific: Prescriptive Analytics Market, By Country, 2017-2019 (Usd Million)
Table 26 Asia Pacific: Prescriptive Analytics Market, By Country, 2020-2025 (Usd Million)

7 Life Science Analytics Market, By Application

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