Life Science Analytics Market: Market Segments: By Type (Reporting, Descriptive, Predictive and Prescriptive); By Application (Research and Development, Sales and Marketing, Regulatory Compliance, Supply Chain Analytics and Pharmacovigilance); By Delivery Model (On-demand and On-premises); By End-user (Medical Devices, Pharmaceutical, Biotechnology and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Product Overview
Pharmaceutical and life science businesses primarily use life science analytics software to overcome unpredictable requirements, challenges in data integration and improve operational efficiency. It facilitates the processing of third-party data and decrypts the complexities associated with the life science industry's organizational setup. Regulatory compliance reporting, product/service enablement, and marketing/sales support are the major applications of analytics.
Market Highlights
Life Science Analytics Market is expected to project a notable CAGR of 13.3% in 2030.
Life Science Analytics Market to surpass USD 45.1 billion by 2030 from USD 20.3 billion in 2019 at a CAGR of 13.3% throughout the forecast period, i.e., 2020-30. Globally, increasing adoption of analytics in sales and marketing of clinical trials is expected to fuel the growth of the market for life science analytics.
Life Science Analytics Market: Segments
Predictive segment to grow with the highest CAGR during 2020-30
Life Science Analytics Market is segmented by Type as reporting, descriptive, predictive, and prescriptive. The descriptive life science analytics segment held the largest revenue share of 35.9% in 2019 owing to the large customer pool that is interested in understanding the current market scenario. Descriptive life science analytics generate conclusions about what has happened in the past in the market, and this helps to understand consumer behavior in the past and factors that affect market dynamics, which in turn helps to create critical queries.
Life Science Analytics Market: Market Dynamics
Drivers
Technological advancements
Digitization has been increasingly seen by pharmaceutical companies over the last few years as a strategic initiative that can potentially help transform various components of their value chain to become more productive and profitable. Companies can effectively improve their R&D productivity, manufacturing capabilities, sales and marketing effectiveness, and compliance management with the aid of digital technologies, such as mobility and pervasive computing, big data and analytics.
Restrain
High Implementation Costs
For small and medium-sized pharma and biotech companies and CROs with restricted budgets, high costs make these solutions less affordable, thus restricting their acceptance. This pattern is especially evident in emerging markets, where there is often a fight over medical equipment to secure IT budgets.
Life Science Analytics Market: Regions
Life Science Analytics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Life Science Analytics Market in North America held the largest market share of 50.7% in the year 2019. The presence of supporting government policies for telehealth deployment, the availability of sound IT infrastructure and high digital literacy are some of the major factors contributing to market growth in the country. In addition, there has been increased adoption of life science analytics as a result of the demand to curb increasing healthcare expenditure in this field. In Asia Pacific, during the forecast period, the market is expected to see the highest growth rate. There are few criteria supporting the growth of the market in the area that endorse government policies encouraging life science analytics and rising healthcare spending.
Life Science Analytics Market: Key Players
• Oracle
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
• IBM
• 3DHISTECH
• Cognizant
• Accenture
• Maxisit
• Oracle Corporation
• Scio Health Analytics
• Wipro Ltd.
• Take Solutions
• SAS Institute Inc
Life Science Analytics Market report also contains analysis on:
Life Science Analytics Market Segments:
By Type:
• Reporting
• Descriptive
• Predictive
• Prescriptive
By Application:
• Research and Development
• Sales and Marketing
• Regulatory Compliance
• Supply Chain Analytics
• Pharmacovigilance
By Delivery Model:
• On-demand
• On-premises
By End-user:
• Medical Devices
• Pharmaceutical
• Biotechnology
• Others
• Life Science Analytics Market Dynamics
• Life Science Analytics Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Life Science Analytics Market
· Which segment is anticipated to hold the largest market share
· At what CAGR is the market anticipated to grow between 2020 and 2030
· Who are the key players in the Life Science Analytics Market
· What could be the challenging factors in the growth of Life Science Analytics Market
· What are the growth drivers for the Life Science Analytics Market
Contents
1. Executive Summary
2. Life Science Analytics Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Life Science Analytics Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Life Science Analytics Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Life Science Analytics: Market Segmentation
12.1. By Regions
12.1.1. North America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Europe:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Asia-Pacific:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. MEA:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Latin America:
• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Reporting, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.2. Descriptive, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.3. Predictive, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2.4. Prescriptive, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3 By Application: Market Share (2020-2030F)
12.3.1. Research and Development, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Sales and Marketing, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Regulatory Compliance, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.4. Supply Chain Analytics, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.5. Pharmacovigilance, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4. By Delivery Model: Market Share (2020-2030F)
12.4.1. On-demand, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.2. On-premises, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5 By End-user: Market Share (2020-2030F)
12.5.1. Medical Devices, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.2. Pharmaceutical, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.3. Biotechnology, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.4. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13. Company Profile
13.1.1. Accenture PLC
13.1.2. Company Overview
13.1.3. Company Total Revenue (Financials)
13.1.4. Market Potential
13.1.5. Global Presence
13.1.6. Key Performance Indicators
13.1.7. SWOT Analysis
13.1.8. Product Launch
13.2. SAS Institute, Inc.
13.3. IBM Corporation
13.4. MaxisIT, Inc.
13.5. Oracle Corporation
13.6. Wipro Limited
13.7. Cognizant Technology Solutions Corporation
13.8. SAP SE
13.9. Take Solutions, Inc.
13.10. IQVIA, Inc.
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
Historical Data (2015-2019) |
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Market Forecast (2021-2026) |
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Qualitative Analysis |
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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