Life Science Analytics Market Size, Share and Trends - 2025

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Life Science Analytics Market Dynamics
MARKET OPPORTUNITY OVER NEXT 5 YEARS
CAGR of
KEY MARKET PLAYERS
2020 2025
TWO OF THE KEY DRIVERS OF THE MARKET WILL BE

• Oracle Corporation (US),
• Accenture (Ireland),
• SAS Institute Inc. (US),
• IBM Corporation (US)

CAGR

• Big data in the life science industry,
• Growing adoption of analytics solutions in
  clinical trials

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North America accounted for the largest share of
the Life Science Analytics market
MARKET SEGMENTATION BY SOURCE

• The on-demand model segment is expected to grow
  at the highest CAGR during the forecast period.
• The descriptive analytics segment accounted for
  the largest market share in 2019.

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The report "Life Science Analytics Market by Type
(Predictive, Descriptive, Prescriptive),
Application (Marketing, Compliance, Clinical
trial, RD, Pharmacovigilance, SCM), Component
(Software, Service), Delivery, End User, Region
- Global Forecast To 2025" The global life
science analytics market size is expected to
reach 42.0 billion by 2025 from USD 22.1 billion
in 2020, at a CAGR of 13.7 during the forecast
period of 2020 to 2025. Download PDF Brochure
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id174990653 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, growing pressure to curb healthcare
spending, and the need for improved patient
outcomes. 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 on-demand model segment is expected to grow
at the highest CAGR during the forecast
period. Based on the delivery mode, the life
science analytics market is segmented into the
on-demand model and the on-premise model. The
on-demand model segment is expected to grow at
the highest CAGR during the forecast period,
owing to advantages such as increasing demand for
self-driven analytics, lack of upfront capital
investments for hardware, extreme capacity
flexibility, and pay-as-you-go pricing of this
model. The descriptive analytics segment
accounted for the largest market share in
2019. Based on type, the life science analytics
market is segmented into descriptive analytics,
predictive analytics, and prescriptive analytics.
The descriptive analytics segment accounted for
the largest share of the life science analytics
market in 2019. The large share of this segment
is attributed to the significant usage of
descriptive analytics by stakeholders to gain a
better understanding of the past trends and
events occurring in real-time. More insights
https//www.marketsandmarkets.com/Market-Reports/p
harmaceutical-life-science-analytic-market-1749906
53.html
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