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Globe and Mail
4 days ago
- Business
- Globe and Mail
Life Science Analytics Market worth $68.81 billion by 2030 11.4% CAGR
"Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US)" Browse 463 market data Tables and 53 Figures spread through 404 Pages and in-depth TOC on "Life Science Analytics Market by Type (Descriptive, Prescriptive, Predictive), by Service (Analytics), Application (Drug Discovery, Trials, RWE, Access, Sales & Marketing, Drug Safety), End User (Pharma, Medical Device) & Region - Global Forecast to 2030 The global Life Science Analytics Market , valued at US$35.69 billion in 2024, is forecasted to grow at a robust CAGR of 11.4%, reaching US$40.03 billion in 2025 and an impressive US$68.81 billion by 2030. The standardization of diverse datasets from sources such as clinical trials, electronic health records (EHRs), genomics, and real-world evidence is essential for the efficient exchange of information across various platforms and geographical regions. This standardization enhances multi-site clinical trials and cross-border research collaborations. Additionally, emerging technologies like artificial intelligence (AI), quantum computing, and cognitive computing play a vital role in transforming large volumes of raw data into actionable insights. These technologies help simplify reports and create interactive dashboards. Furthermore, the increasing adoption of analytics in pre-clinical trials, drug discovery, and clinical trials, particularly for applications such as patient recruitment and site identification, helps to reduce the workload for researchers and investigators. These factors contribute significantly to the growing adoption of analytics across the life sciences industry. Browse in-depth TOC on " Life Science Analytics Market" 100 - Tables 50 - Figures 500 - Pages By Based on type, the life science analytics services market is categorized into two main types: managed services and professional services. In 2024, the managed services segment held the largest share of the life science analytics market. This significant share is largely due to the increasing demand for advanced insights, the need for cost-effective drug development, technological advancements in the industry, and the necessity for ongoing support in strategic decision-making. These factors make outsourcing analytics and consulting more attractive for life science companies. Leading companies in the field offer consulting services that leverage data and analytics to evaluate opportunities, design analytics strategies, and implement appropriate technology solutions. For instance, in May 2023, SAS Institute (US) partnered with HTEC (US) to deliver strategic analytics consulting services across various sectors, including life sciences and healthcare. By Based on applications, The life science analytics market is divided into several applications, including research & development, commercial analytics, regulatory compliance, manufacturing and supply chain optimization, and safety. In 2024, the research & development segment held the largest share of this market. This significant share is mainly due to its capacity to accelerate drug discovery, optimize clinical trials, and improve research accuracy through advanced data analysis and AI-driven insights. Additionally, factors such as increasing R&D expenditure in the pharmaceutical and biopharmaceutical sectors, a rise in patent expirations and declining drug pipelines, and a growing focus on personalized medicine and precision therapeutics are further driving growth in this segment. By geography, the life science analytics market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to experience significant growth, with a noticeable annual growth rate during the forecast period. Key factors driving the expansion of life science analytics solutions in this region include a gradual shift towards adopting advanced technologies such as automation, artificial intelligence (AI), and machine learning (ML). Additionally, rising investments are attracting new market players, and the presence of leading educational institutions and research centers in Asia Pacific is fostering scientific innovation and technological advancement. Furthermore, increased direct investments from pharmaceutical and biotechnology companies in Europe and North America are anticipated to boost the adoption of life science analytics solutions in Asia. Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US), Saama (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot (US), Salesforce (US), Google LLC (US), Amazon Web Services, Inc. (US), Veeva Systems (US), Elsevier (Netherlands), and Komodo Health, Inc. (US) are the major players in this market. These companies mainly focus on strategies such as acquisitions, collaborations, partnerships, expansion, and product launches and updates to remain competitive and further increase their share in the market. ORACLE (US): Oracle (US) is a leading company in life science analytics worldwide. The company offers analytics software and services for various applications, including research & development, commercialization, and more. Oracle is committed to continuously updating its products to meet customer expectations. Additionally, the company invests in expanding its solutions through partnerships and collaborations, ensuring tailored solutions for its users. In March 2025, Oracle partnered with Huntsville Hospital Health System (US) to standardize its Oracle Health Foundation electronic health record system across all facilities. This collaboration aims to provide consistent, high-quality care and a unified experience for both patients and providers as they move between different locations. With a broad customer base and a significant geographic presence, Oracle is a critical player in various IT software, hardware, and service markets, including life science analytics. MERATIVE (US): Merative (US) is another leading player in the life science analytics market. The company offers a comprehensive suite of informatics products and services tailored for life science analytics. By leveraging advanced technologies such as AI and ML, Merative enhances the accuracy and efficiency of evidence analysis. Its strong brand recognition and extensive product portfolio have significantly contributed to its success. Merative serves various sectors, including life science systems, clinical trial sponsors, and the medical device manufacturing industry. Additionally, the company has established offices across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. SAS INSTITUTE INC. (US) SAS Institute Inc. (US) is a company that specializes in analytics software and services. It offers a wide range of solutions, including advanced analytics, business intelligence, cloud analytics, customer intelligence, data operations, data management, decision management, fraud and security intelligence, in-memory analytics, performance management, risk management, and supply chain management. These solutions enable organizations to access, manage, analyze, and report on data to support informed decision-making. SAS Institute serves various industries, including communications, education, financial services, government, health insurance, healthcare, hospitality, insurance, life sciences, manufacturing, media, oil and gas, retail, travel and transportation, and utilities. Through its Life Sciences industry segment, the company also provides specialized analytics solutions for the life sciences sector. By leveraging AI and analytics driven by fast and relevant data, SAS aims to propel innovation in health and life sciences. The company supports customers in 146 countries across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. More than 82,000 business, government, and university sites utilize SAS OnDemand for Academics. For more information, Inquire Now!
Yahoo
23-05-2025
- Business
- Yahoo
Life Science Analytics Market Insights by Type, Service, Application, End User and Region - Industry Forecast to Reach $68.8 Billion by 2030
Dublin, May 23, 2025 (GLOBE NEWSWIRE) -- The "Life Science Analytics Market by Type (Descriptive, Prescriptive, Predictive), by Service (Analytics), Application (Drug Discovery, Trials, RWE, Access, Sales & Marketing, Drug Safety), End User (Pharma, Medical Device) & Region - Global Forecast to 2030" has been added to offering. The global life science analytics market is forecast to escalate from USD 40.03 billion in 2025 to USD 68.81 billion by 2030, growing at a CAGR of 11.4%. A pivotal driver for this growth is the increasing complexity and diversity of big data in the life sciences sector. The expanding demand for advanced analytical solutions spans research and development, commercialization, and safety applications, fostering the market's expansion. The push for improved data standardization in life sciences and healthcare further catalyzes growth. Conversely, inadequate IT infrastructure and a reluctance to adopt analytics solutions in emerging economies are notable software-as-a-service (SaaS) subsegment is expected to register the highest growth during the forecast period. The sub-segment of life science analytics software-which encompasses on-premise, cloud-based, and SaaS-is anticipated to experience the highest growth. The SaaS model's appeal is underpinned by numerous advantages, including seamless integration of data from various cloud sources, remote access, low maintenance costs, high security and privacy, and flexible resource utilization without upfront hardware investment. Moreover, the SaaS model supports various applications such as accounting, performance monitoring, and communication, enriching its growth & biotechnology companies are expected to dominate the life science analytics market during the forecast period. Within the life science analytics market, pharmaceutical and biotechnology companies, medical device firms, research institutes, and outsourced life science organizations represent key end-user segments. In 2024, pharmaceutical and biotechnology companies held a significant market share and are poised for substantial growth moving forward. Their prominence stems from growing R&D expenditures, heightened use of analytics in research, and the critical role of analytics in enhancing regulatory compliance through data-driven insights. Furthermore, analytics' contribution to personalized medicine and AI integration underscores their value in this Pacific is expected to register the highest market growth during the forecast period. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to witness the highest growth, driven by a large patient population, increasing demand for innovative therapies, the advent of big data in healthcare, and rising investments in HCIT infrastructure. Moreover, government initiatives promoting digital solutions in life sciences and a focus on integrating sophisticated technologies further fuel regional growth. Research Coverage This comprehensive report analyzes the life science analytics market, estimating the market size and identifying future growth opportunities across various segments by type, component, application, end-user, and region. It scrutinizes market dynamics, including drivers, opportunities, and challenges. The report evaluates stakeholder opportunities, analyzing micromarket growth trends and contributions to the overall market. It forecasts segment revenues across five regions and features a competitive analysis of key market players, delivering company profiles, product offerings, recent developments, and strategic report provides insights on: Key drivers include rising pressures to reduce healthcare spending, advanced analytics, and increased R&D spending in life sciences. Product Development/Innovation: Examines upcoming trends, R&D activities, and new software launches in the market. Market Development: Details lucrative emerging markets, alongside solution types, components, and deployment models. Market Diversification: Offers exhaustive information on versatile software portfolios and newly developing geographies. Competitive Assessment: Analyzes market shares and strategies of leading players like Oracle, Merative, SAS Institute, and Accenture. Key Attributes Report Attribute Details No. of Pages 405 Forecast Period 2025-2030 Estimated Market Value (USD) in 2025 $40.03 Billion Forecasted Market Value (USD) by 2030 $68.81 Billion Compound Annual Growth Rate 11.4% Regions Covered Global Market Dynamics Drivers Rising Pressure To Curb Healthcare Spending Need For Improved Data Standardization Technological Advancements in Analytical Solutions Heterogeneity and Complexity of Big Data in Life Sciences Growing Adoption of Analytical Solutions in Clinical Trials Increasing R&D Expenditure in Pharmaceutical & Biotechnology Companies Challenges Issues Associated With Data Integration Shortage of Skilled Personnel Reluctance To Adopt Life Science Analytics Solutions in Emerging Countries Opportunities Growing Focus on Value-Based Care Use of Analytics in Precision & Personalized Medicine Big Data Analytics For R&D Productivity Growing Adoption of Cloud-Based Analytics Industry Trends Growing Adoption of Analytics in Commercial Operations Leveraging Data & Analytics To Accelerate Drug Discovery & Development Focus on Real-Time Data Analytics Case Studies Novartis Uses Multi-Cloud Data Analytics Platform To Optimize Operations and Accelerate Innovation Sas Visual Analytics Helps Maximize Profitability Through Prescriptive Analytics & Data Visualization Streamlining Regulatory Monitoring and Impact Assessments: Gedeon Richter's Partnership With Clarivate List of Companies Profiled in the Report Oracle (US) Merative (formerly IBM) (US) SAS Institute (US) Accenture (Ireland) IQVIA (US) Cognizant (US) Wipro (India) Veradigm (US) Optum (US) Microsoft (US) MaxisIT (US) ExlService Holdings (US) Inovalon (US) CitiusTech (US) Saama (US) Axtria (US) Clarivate (UK) ThoughtSphere (US) ThoughtSpot (US) Salesforce (US) Google LLC (US) Amazon Web Services, Inc. (US) Veeva Systems (US) Elsevier (Netherlands) Komodo Health, Inc. (US) For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
