Life Science Analytics Market 2022 Cloud based software is expected to grow at the highest CAGR
Life Science Analytics Software Market Outlook
Life Science Analytics Software Market Expected to Reach $16.04 billion by 2027
PORTLAND, OREGON, UNITED STATE, March 15, 2022 /EINPresswire.com/ -- On the basis of delivery model Life Science Analytics Market is bifurcated into on-premise and cloud. According to a new report published by Allied Market Research, titled, “life science analytics software market by of product, application, delivery model and end user: opportunity Analysis and Industry Forecast, 2020-2027,” The global life science analytics software market size was valued at $5.35 billion in 2019 and is expected to reach $16.04 billion by 2027 with a CAGR of 12.3% during the forecast period.
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The life sciences industry is moving from treatment to preventive scenarios and management of patient's health outcomes. In addition, early detection of disease patterns and strategic target is the key for effective business strategies. Thus, life science companies are demanding for analytics software that is used to transform data into useful insights. Further, benefits of analytics software in life sciences such as early detection of prescription and treatment patterns, strategizing patient outcomes and achieving better operational quality that drives the intellectual journey of patient centricity further boosts the growth of the global life science analytics software market.
Key Market Players
ACCENTURE PLC
ARISGLOBAL LLC
CHEMICAL ABSTRACTS SERVICES (ACS)
CERTARA, L.P.
CLARIVATE ANALYTICS PLC
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
DASSAULT SYSTEMES
DELOITTE
IQVIA HOLDINGS INC
MICROSOFT CORPORATION
ORACLE CORPORATION
TIBCO SOFTWARE INC
Key Findings Of The Study
Based on type, the descriptive analytics segment accounted for the largest life science analytics software market share in 2019.
Based on application, sales & marketing segment is expected to grow at the highest CAGR during the forecast period
In 2019, North America held the major share of the life science analytics software market.
By product, the predictive analytics segment is expected to grow with a highest CAGR from 2020 to 2027, as the software helps to enhance the accuracy of diagnosis & treatment, as well as epidemiology to review possible risk factors for public health.This increase the demand for predictive analytics software to improve patient care and it is expected to be high in the future.
On the basis of application, the sales & marketing segment is expected to grow at the highest CAGR during the forecast period. The is attributed to the rise in adoption of analytics by life science companies to align their sales & marketing campaigns. Surge in importance of post-marketing surveillance also propels the utilization of analytics for sales & marketing in the life science industry.
Key Market Segments
BY PRODUCT
Descriptive analytics
Predictive Analytics
Prescriptive analytics
BY APPLICATION
Research and development
Clinical Trials
Preclinical Trials
Sales and marketing support
Regulatory compliance
Supply chain analytics
Pharmacovigilance
BY DELIVERY MODEL
On-premise
Cloud
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Analytics LLP
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