Over the previous couple of years, pharmaceutical companies are increasingly considering digitization as a strategic initiative which will potentially help transform different components of their value chain to become more productive and profitable. With the assistance of digital technologies, like mobility and pervasive computing, big data, and analytics, companies can effectively improve their R&D productivity, manufacturing capabilities, sales and marketing effectiveness, and compliance management. In manufacturing processes, analytics technologies are being integrated to capture unit operations data automatically, and in R&D, numerous labs are going paperless. This approach has helped reduce process times and minimize errors.
High costs make these solutions less affordable for small- and medium-sized pharma and biotech companies and CROs with limited budgets, thereby limiting their adoption. This trend is especially evident in emerging economies, where it's always a struggle to secure budgets for IT over medical equipment.
Covid-19 Impact on Life Science Analytics Market:
In addition, the current Global Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Global Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Life Science Analytics Market Segment Overview
Based on type, the descriptive analytics segment accounted for the largest market share in forecast period. This will be attributed to the many usage of descriptive analytics by life science stakeholders to realize a far better understanding of the past trends and events occurring in real-time.
Based on application, the sales & marketing segment is predicted to grow at the best CAGR during the forecast period. The high growth of this segment is often attributed to the increasing adoption of analytics by life science companies to align their sales & marketing campaigns. The growing importance of post-marketing surveillance is additionally boosting the use of analytics for sales & marketing.
Based on end-users, the pharmaceutical & biotechnology companies segment commanded the most important share of the life science analytics market in 2019. This will be attributed to the high utilization of analytics solutions by pharmaceutical & biotechnology companies.
Market Analysis, Insights and Forecast – By Type
· Descriptive Analytics
· Predictive Analytics
· Prescriptive Analytics
Market Analysis, Insights and Forecast – By End Use
· Pharmaceutical & Biotechnology Companies
· Medical Device Companies
· Research Centers
· Third-party Administrators
Market Analysis, Insights and Forecast – By Application
· Research & Development
· Preclinical Trials
· Clinical Trials
· Sales & Marketing
· Regulatory Compliance
· Supply Chain Optimization
· Pharmacovigilance
Life Science Analytics Market Regional Overview
Region-wise, in terms of regions, North America accounted for the largest share of the market, followed by Europe. However, Asia is predicted to grow at the best CAGR during the forecast period due to the increasing prevalence of chronic diseases, growth of the bioscience industry, rising adoption of advanced technologies, and therefore the growing focus of major players on increasing their presence in emerging Asian countries.
Life Science Analytics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Life Science Analytics Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Life Science Analytics are highlighted below.
· In February 2020, IQVIA had launched Avacare Clinical Research Network that's a global-based site network, which might help provide more opportunities and patient options for clinical trials.
Life Science Analytics Market, Key Players
· Accenture
· SAS Institute Inc.
· IBM Corporation
· IQVIA
· Wipro
· Cognizant
· SCIO Health Analytics
· Allscripts Healthcare Solutions
· Cerner Corporation
· Microsoft
· Infosys Limited
· MaxisIT
· Optum
· Cotiviti
· Oracle Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Life Science Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Descriptive Analytics
- 5.2.2. Predictive Analytics
- 5.2.3. Prescriptive Analytics
- 5.3. Market Analysis, Insights and Forecast – By End Use
- 5.3.1. Pharmaceutical & Biotechnology Companies
- 5.3.2. Medical Device Companies
- 5.3.3. Research Centers
- 5.3.4. Third-party Administrators
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Research & Development
- 5.4.2. Preclinical Trials
- 5.4.3. Clinical Trials
- 5.4.4. Sales & Marketing
- 5.4.5. Regulatory Compliance
- 5.4.6. Supply Chain Optimization
- 5.4.7. Pharmacovigilance
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East, and Africa
6. North America Life Science Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Descriptive Analytics
- 6.2.2. Predictive Analytics
- 6.2.3. Prescriptive Analytics
- 6.3. Market Analysis, Insights and Forecast – By End Use
- 6.3.1. Pharmaceutical & Biotechnology Companies
- 6.3.2. Medical Device Companies
- 6.3.3. Research Centers
- 6.3.4. Third-party Administrators
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Research & Development
- 6.4.2. Preclinical Trials
- 6.4.3. Clinical Trials
- 6.4.4. Sales & Marketing
- 6.4.5. Regulatory Compliance
- 6.4.6. Supply Chain Optimization
- 6.4.7. Pharmacovigilance
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Life Science Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Descriptive Analytics
- 7.2.2. Predictive Analytics
- 7.2.3. Prescriptive Analytics
- 7.3. Market Analysis, Insights and Forecast – By End Use
- 7.3.1. Pharmaceutical & Biotechnology Companies
- 7.3.2. Medical Device Companies
- 7.3.3. Research Centers
- 7.3.4. Third-party Administrators
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Research & Development
- 7.4.2. Preclinical Trials
- 7.4.3. Clinical Trials
- 7.4.4. Sales & Marketing
- 7.4.5. Regulatory Compliance
- 7.4.6. Supply Chain Optimization
- 7.4.7. Pharmacovigilance
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Life Science Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Descriptive Analytics
- 8.2.2. Predictive Analytics
- 8.2.3. Prescriptive Analytics
- 8.3. Market Analysis, Insights and Forecast – By End Use
- 8.3.1. Pharmaceutical & Biotechnology Companies
- 8.3.2. Medical Device Companies
- 8.3.3. Research Centers
- 8.3.4. Third-party Administrators
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Research & Development
- 8.4.2. Preclinical Trials
- 8.4.3. Clinical Trials
- 8.4.4. Sales & Marketing
- 8.4.5. Regulatory Compliance
- 8.4.6. Supply Chain Optimization
- 8.4.7. Pharmacovigilance
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Life Science Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Descriptive Analytics
- 9.2.2. Predictive Analytics
- 9.2.3. Prescriptive Analytics
- 9.3. Market Analysis, Insights and Forecast – By End Use
- 9.3.1. Pharmaceutical & Biotechnology Companies
- 9.3.2. Medical Device Companies
- 9.3.3. Research Centers
- 9.3.4. Third-party Administrators
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Research & Development
- 9.4.2. Preclinical Trials
- 9.4.3. Clinical Trials
- 9.4.4. Sales & Marketing
- 9.4.5. Regulatory Compliance
- 9.4.6. Supply Chain Optimization
- 9.4.7. Pharmacovigilance
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Accenture
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. SAS Institute Inc.
- 10.6. IBM Corporation
- 10.7. IQVIA
- 10.8. Wipro
- 10.9. Cognizant
- 10.10. SCIO Health Analytics
- 10.11. Allscripts Healthcare Solutions
- 10.12. Cerner Corporation
- 10.13. Microsoft
- 10.14. Infosys Limited
- 10.15. MaxisIT
- 10.16. Optum
- 10.17. Cotiviti
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
