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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
29-05-2025
- Business
- Yahoo
$46.5 Bn AI in Medical Diagnostics Market Opportunities and Strategies to 2034: Machine Learning and Computer Vision Set to Transform AI Diagnostics Landscape
Global AI in medical diagnostics market to surge from $1.92B in 2024 to $46.59B by 2034. Key growth drivers include aging population, rising healthcare expenditure, and tech innovations. Top players: Siemens Healthineers, Merative, Tempus Labs. Software to lead growth. Explore strategic insights. AI in Medical Diagnostics Market Dublin, May 29, 2025 (GLOBE NEWSWIRE) -- The "AI in Medical Diagnostics Market Opportunities and Strategies to 2034" has been added to offering. The report on AI in medical diagnostics market highlights its historical and projected growth, analyzing regional trends and market dynamics from 2019 to 2034. The market, valued at $1.92 billion in 2024, is projected to soar to $46.59 billion by 2034, demonstrating a significant compound annual growth rate (CAGR) of 33.72% during the forecast period. Significant contributors to historical growth included rising demand for personalized medicine, increased adoption of cloud-based AI solutions, and the proliferation of chronic diseases. Despite this, challenges like ethical concerns and data protection issues posed barriers to expansion. Looking ahead, factors such as an aging global population, escalating healthcare expenditures, and supportive government measures are anticipated to propel market growth, although the high procurement costs could present hurdles. The market is dominated by key players, with Siemens Healthineers AG leading at an 11.10% market share in 2023. Other notable competitors include Merative L.P., Tempus Labs Inc., and Enlitic Inc. Geographically, North America remains the most significant market region, holding 41.12% of the 2024 market value, with Asia Pacific and the Middle East poised for the fastest growth in the coming years. By component, the software segment leads, representing 59.65% of the market in 2024 and projected to grow rapidly at a CAGR of 43.11%. Application-wise, computer-aided detection currently dominates the market, while computer-aided diagnosis is expected to expand fastest. Hospitals, as the primary end users, also represent the largest and fastest-growing segment by end-user category. In terms of technological segmentation, machine learning currently dominates, but computer vision is expected to see the quickest growth. The specialty segmentation identifies neurology as the largest segment, while radiology is set to experience rapid expansion. Emerging opportunities are identified in various segments, with the software segment anticipated to gain $5.73 billion by 2029. Similarly, hospitals, computer-aided detection, machine learning, and the neurology segment each present substantial revenue-generating potential. Trend-based strategies for market players emphasize optimizing operations through AI to enhance diagnostic accuracy and streamline workflows, ultimately boosting productivity and patient care. Advancements in radiology efficiency, innovations in vital sign monitoring, and personalized cancer therapies are highlighted. Engagement through strategic partnerships and sophisticated AI tools also play a pivotal role in shaping market dynamics. The report suggests specific strategies for AI medical diagnostics companies to capture market opportunities. These include optimizing AI for precision, enhancing radiology efficiency, and advancing healthcare workflows. Expanding into emerging markets, investing in innovative diagnostic tools, and maintaining competitive pricing are recommended approaches to thrive in the evolving landscape. Key Attributes: Report Attribute Details No. of Pages 315 Forecast Period 2024 - 2034 Estimated Market Value (USD) in 2024 $1.92 Billion Forecasted Market Value (USD) by 2034 $46.59 Billion Compound Annual Growth Rate 37.6% Regions Covered Global Major Market Trends Utilizing AI to streamline medical operations and optimize care journeys across the healthcare system. Transforming healthcare efficiency with AI-driven radiology solutions for faster and more accurate results. Innovating healthcare workflows with AI to address clinician burnout and enhance productivity. Advancements in vital sign monitoring utilizing photoplethysmography and other sensor technologies. Enhancing personalized cancer therapies through AI-based biomarker identification. Launch of advanced diagnostics tools for detecting accurate and clinically reliable information. Integration of quantitative reporting in medical imaging for liver disease diagnosis. Increasing investments to revolutionize decision-making with personalized AI insights. Strategic partnerships and collaborations among major players. Market Segments Covered: Component: Software, Hardware, Services Application: Computer-Aided Detection, Diagnosis, Quantitative Analysis, Clinical Decision End User: Hospitals, Diagnostics Imaging Centers, Laboratories, Others Technology: NLP, Computer Vision, Machine Learning, Context-Aware Computing Specialty: Cardiology, Oncology, Pathology, Radiology, Chest and Lung, Neurology, Others Companies Featured Siemens Healthineers AG Merative L.P. Tempus Labs Inc. Enlitic Inc. GE Healthcare Technologies Inc. Microsoft Corporation Koninklijke Philips N.V. NVIDIA Corporation PathAI Inc. Aidoc Medical Ltd. Samsung Medison Co., Ltd. Wipro GE Healthcare Private Limited SK Telecom Healthians iHridAI InMed AI Olympus Corporation Anaut Inc. XtalPi Lunit Niramai Predible Healt Fujifilm Holdings Corporation Canon Medical Systems Hitachi Healthcare Vuno Inc. JLK Inspection 4DMedical HaloDoc AIHealth Ping An Good Doctor iFlytek HuiyiHuiying (HYHY) Ningbo Jansen NMR Technology Co., Ltd. YITU Technology Huawei Cloud Gleamer Guerbet Technologies Private Limited BioNTech SE Quantum Surgical Therapixel Merantix QUIBIM Nanobiosym Doctrin Icomera Sophia Genetics RetinAI Medical Eukarys Istituto Italiano di Tecnologia (IIT) Kheiron Medical Zaya AI Beeline Healbe Infermedica Syntellix AG Aireen CureMetrix Medo AI Caption Health DiA Imaging Analysis AI Precision Trillium Health Partners WELL Health Technologies Corp Stryker Corporation RadNet Beckman Coulter Diagnostics Exo Quest Diagnostics LabCorp Abbott Laboratories Thermo Fisher Scientific PathAI Diagnostics Bio-Rad Laboratories Becton Dickinson Agilent Technologies GenMark Diagnostics Butterfly Network Tempus AI Intel Corporation Micro Health LLC caption Health Inc. Dasha Coraline Soft Co Ltd. AI Medical Service Inc. International Business Machines Corp AliveCor, Inc. Digital Diagnostics Inc. Tamer Healthcare PureHealth Dell Technologies Astute Eyenuk, Inc. Dr CADx Envisionit Deep AI Ilara Health hearX Group Lancet Laboratories Dileny Technologies 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. Attachment AI in Medical Diagnostics Market 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
Associated Press
08-04-2025
- Business
- Associated Press
Healthcare Analytics Market Research 2025: Increasing Partnerships and Collaborations, Shift of Risk Burden from Payers to Providers, Growing Adoption of Cloud IT Solutions - Global Forecast to 2029
The 'Healthcare Analytics Market by Type (Predictive, Diagnostic), Application (Claim, RCM, Fraud, Precision Health, RWE, Imaging, Supply Chain, Workforce, Population Health), EndUser (Payer, Hospital, ACO, ASC, Govt, Clinic), & Region: Global Forecast to 2029" report has been added to offering. The global Healthcare analytics market is projected to reach USD 133.19 billion by 2029 from USD 44.83 billion in 2024, at a CAGR of 24.3 % from 2024 to 2029 The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the healthcare analytics market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the healthcare analytics market. Competitive analysis of upcoming startups in the healthcare analytics market ecosystem is covered in this report. The widespread adoption of Electronic Health Records (EHR) is accelerating the growth of the healthcare analytics market. In North America, approximately 78% of office-based physicians and 96% of non-federal acute care hospitals use EHR systems, which are supported by regulatory incentives such as the HITECH Act. Europe has varying adoption rates, with the Netherlands at 97% and an average of 81% across the continent, indicating a high potential for analytics integration. Increased adoption of EHRs improves data accessibility and drives the demand for advanced analytics solutions. The study includes an in-depth competitive analysis of these key players in the healthcare analytics market, with their company profiles, recent developments, and key market strategies. Merative (US), Optum, Inc.(US), SAS Institute Inc. (US), Oracle (US), Citiustech Inc (US) are some of the key players in the healthcare analytics market. Healthcare analytics, clinical analytics segment to witness the highest growth during the forecast period. Based on application, the healthcare analytics market is segmented into financial analytics, clinical analytics, operations & administrative analytics and population health analytics. The clinical analytics segment held the largest market share in 2023. Value-Based Care, technological advancements, and improved patient outcomes drive clinical analytics growth by focusing on outcome-based performance, optimizing costs, and enabling personalized, data-driven care through AI and EHR systems. This enhances care quality and efficiency, boosting the healthcare analytics market. APAC is estimated to register the highest CAGR during the forecast period. In this report, the healthcare analytics market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The healthcare analytics market in APAC is projected to register the highest CAGR rate during the forecast period. The APAC healthcare analytics market is growing due to affordable medical treatments, such as average cost of bypass surgery in APAC region is approximately USD 4000, compared to USD 30,000 to USD 200,000 in the US. Moreover, government support for medical tourism, healthcare infrastructure investment, IT expansion, and a growing aging population with chronic diseases collectively strengthen the region's position in global healthcare. Key Attributes: Report Attribute Details No. of Pages 411 Forecast Period 2024 - 2029 Estimated Market Value (USD) in 2024 $44.83 Billion Forecasted Market Value (USD) by 2029 $133.19 Billion Compound Annual Growth Rate 24.3% Regions Covered Global Market Dynamics Drivers Favorable Government Initiatives for Electronic Health Record Adoption Growing Venture Capital Investments in Startups Need to Reduce Healthcare Costs Increasing Focus on Real-World Evidence Rise of Telemedicine and Remote Patient Monitoring Growing Focus on Regulatory Compliance Restraints High Cost of Analytics Solutions Growing Concerns About Data Breach Opportunities Increasing Focus on Value-based Medicines Growing Use of Analytics in Healthcare Rising Number of Patient Registries Emergence of Social Media and Digital Health Technologies Challenges Concerns Regarding Inaccurate and Inconsistent Data Reluctance to Adopt Healthcare Analytics Solutions in Developing Countries Lack of Maintenance of Medical Records Shortage of Skilled Personnel Trends/Disruptions Impacting Customer Business Industry Trends Increasing Partnerships and Collaborations Among Market Players Shift of Risk Burden from Payers to Providers Growing Adoption of Cloud-based IT Solutions Technology Analysis Key Technologies Big Data Analytics Artificial Intelligence and Machine Learning Business Intelligence Tools Adjacent Technologies Cloud Computing Internet of Things Impact of AI/Gen AI on Healthcare Analytics Market Key Use Cases Case Study on AI/Gen AI Adjacent Market Ecosystem Life Science Analytics Market Healthcare IT Market Healthcare Fraud Analytics Market User Readiness and Impact Assessment User Readiness Payers Providers Impact Assessment User A: Payers Implementation Impact User B: Providers Implementation Impact Company Profiles Key Players Merative Sas Institute Inc. Optum, Inc. Oracle Veradigm LLC Exlservice Holdings, Inc. Citiustech Inc. Health Catalyst CVS Health Inovalon Mckesson Corporation Medeanalytics, Inc. Cotiviti, Inc. Apixio, Inc. Enlitic Komodo Health, Inc. Healthec, LLC Iqvia Wipro Other Players Arcadia Solutions, LLC. Evidation Health, Inc. Healthcorum Aetion, Inc. Sisense Ltd. 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. View source version on Laura Wood, Senior Press Manager [email protected] 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 +353-1-416-8900 KEYWORD: SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 04/08/2025 08:58 AM/DISC: 04/08/2025 08:57 AM
