Global Life Science Analytics Market is growing at a CAGR of 13.1% from 2017 to 2025.

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Summary

Life Science analytics market was valued at USD 13.24 billion in 2016 and is projected to reach USD 40.09 billion by 2025, growing at a CAGR of 13.1% from 2017 to 2025. 

Press Release

Life Science analytics market was valued at USD 13.24 billion in 2016 and is projected to reach USD 40.09 billion by 2025, growing at a CAGR of 13.1% from 2017 to 2025. 

Market Definition:
Life science analytics software is majorly utilized by Pharmaceutical companies becauseof them facing unpredictable demands, depleting operating margins and increasing regulatory scrutiny. Inadequate visibility across the supply chain is hampering optimal performance as global sourcing increases the risk of longer lead times.

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The growing complexity of operations results in the need to increase agility by improving supply chain visibility. Life science analytics provides the solution for the rising demands and management.

Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Technological services in Demand
1.2 Big Data Generation in life science sector
1.3 Increased cases of chronic diseases
1.4 Increased need of patient satisfaction and Healthcare data maintenance
1.5 Analytics software demand in Clinical Trial sector
1.6 Increasing usage of software in analysing sales and marketing
1.7 Improvement needed in Data Standardization

2. Market Restraints
2.1 Lack of experts who know the usage
2.2 Expensive implementation of technology

Market Segmentation:
Life Science AnalyticsMarket is segmented on the basis of:
1. Life Science Analytics Market, by type:
1.1 Descriptive analytics
1.2 Predictive Analytics
1.3 Prescriptive Analytics

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2. Life Science Analytics Market, by application:
2.1 Research and development
2.1.1 Preclinical trial
2.1.2 Clinical trial
2.2Sales and marketing
2.3 Regulatory Compliance
2.4 Supply Chain Analytics
2.5 Pharmacovigilance

3. Life Science Analytics Market, by component:
3.1 Services
3.2 Software

4. Life Science Analytics Market, by delivery:
4.1 On Premise
4.2 On Demand
5. Life Science Analytics Market, by End user:
5.1 Pharmaceutical and Biotech Industry
5.2 Medical Device Companies
5.3 Research centres
5.4 Third Party Administrators

6. Life Science Analytics Market, by Geography:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, Japan, India, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Rest of the World

Competitive Landscape:
The major players in the market are as follows:
1. Oracle
2. IBM 
3. 3DHISTECH 
4. Cognizant
5. Accenture
6. Maxisit
7. Oracle Corpration
8. Scio Health Anaytics
9. Wipro Ltd.
10. Take Solutions
11. SAS Institute Inc.

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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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