Product Code: A06209
Life science analytics is playing a crucial role in extracting meaningful insights from vast and complex biological and healthcare datasets. Life science analytics employs advanced analytical techniques, machine learning algorithms, and statistical models to analyze biological, clinical, and genomics data. The primary goal of life science analytics is to uncover patterns, trends, and correlations within these datasets, enabling researchers, healthcare professionals, and organizations to make informed decisions and discoveries. Applications of life science analytics are diverse and include drug discovery, personalized medicine, clinical trial optimization, and healthcare management. By using big data, life science analytics contributes to advancements in medical research, disease understanding, and the development of more effective and targeted treatments.
The life science analytics software market is expected to register significant growth, owing to rise in emphasis on personalized medicine, and high adoption of life science analytics software for drug discovery and development. The rise in demand for personalized medicine has emerged as a pivotal driver propelling the growth of the life science analytics software market. Personalized medicine, characterized by the tailoring of medical treatments to the individual characteristics of each patient, represents a paradigm shift in healthcare. For instance, according to a 2023 report by the National Library of Medicine, it was reported that the personalized medicine has received significant attention in the last decade, as technologies for understanding biological differences between individuals have advanced significantly.
There are numerous potential benefits of personalized medicine, including minimizing the risk of drug toxicity, increasing the benefits of the medicines used, contributing to the balance of the healthcare system, and facilitating drug discovery and development programs. As advancements in genomics and molecular biology continue to unfold, there is an increasing recognition that a one-size-fits-all approach to medical treatment is no longer optimal. Instead, healthcare providers are turning to personalized medicine, leveraging insights from a patient's genetic makeup, lifestyle, and other individual factors to design more targeted and effective treatment strategies. The complexity and volume of data generated by these personalized medicine approaches necessitate advanced analytics tools. Life science analytics software plays a crucial role in analyzing and interpreting intricate biological data, enabling healthcare professionals to make informed decisions about patient care. Thus, rise in demand for personalized medicine is expected to drive the growth of the life science analytics software market.
Furthermore, the increasing volume and complexity of healthcare data and need of advanced analytical tools to analyze and interpretate the data is expected to drive the growth of the market. As the life sciences industry continues to evolve, the exponential growth of healthcare data, encompassing patient records, clinical trials, genomic information, and more, poses a significant challenge in deriving meaningful insights manually. According to a 2023 report by the National Library of Medicine, it was reported that over 80% of digital data in healthcare is available as unstructured data, requiring new forms of data processing and standardizing that prove challenging to health researchers. The intricate nature of healthcare data, with its diverse sources and formats, demands sophisticated analytical solutions that can navigate through vast datasets, uncover patterns, and extract actionable intelligence.
As researchers and organizations strive to extract meaningful insights from this complex set of information, the demand for sophisticated analytics tools has soared. Life science analytics software plays a pivotal role in managing, analyzing, and interpreting this vast array of data, enabling researchers and healthcare professionals to make informed decisions, identify patterns, and uncover valuable correlations. The integration of advanced analytics, artificial intelligence, and machine learning within these software solutions further enhances their capabilities, facilitating more accurate analysis of the large set of data. Thus, the escalating volume and complexity of healthcare data serves as a compelling catalyst propelling the growth of the life science analytics software market.
However, the life science analytics software market faces significant challenges and restraints, with data privacy and security emerging as major concerns. As the industry increasingly relies on advanced analytics to extract meaningful insights from vast datasets, the inherent sensitivity and confidentiality of the data being processed become critical issues. Life science organizations deal with highly sensitive information, including patient records, clinical trial data, and proprietary research findings. The growing volume and complexity of this data make it an attractive target for hackers seeking unauthorized access or exploitation. Thus, the data privacy and security risk are expected to restrain the growth of the market. Moreover, the technological advancement in the life science analytics software is expected to present significant growth opportunities in the life science analytics software market.
The life science analytics software market is segmented on the basis of product, application, delivery model, component, end user and region. By product, it is divided into descriptive analytics, prescriptive analytics and predictive analytics. On the basis of application, it is classified into research & development, sales & marketing support, regulatory compliance, supply chain analytics and pharmacovigilance.
On the basis of delivery model, it is bifurcated into on-premise and cloud. By component, it is segmented into software and services. By end user, it is segmented into pharmaceutical & biotechnology companies, medical device companies, research centers and third-party administrators (TPAS). Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are SAS Institute Inc., Oracle Corporation, Accenture, Cognizant, Wipro Limited, MaxisIT, Inc., Take Solutions, ExlService Holdings, Inc., Tibco Software Inc, and IQVIA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the life science analytics software market analysis from 2022 to 2032 to identify the prevailing life science analytics software market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the life science analytics software market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global life science analytics software market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Product
- Prescriptive analytics
- Descriptive analytics
- Predictive Analytics
By Aplication
- Research and development
- Sales and marketing support
- Regulatory compliance
- Supply chain analytics
- Pharmacovigilance
By Delivery Model
By Component
By End User
- Pharmaceutical and biotechnology companies
- Medical device companies
- Research centers
- Third party administrators
By Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- Oracle Corporation
- Accenture
- Cognizant
- Wipro Limited
- MaxisIT Incorporated
- TIBCO Software Inc.
- IQVIA
- Take Solutions Limited
- SAS Institute Inc.
- ExlService Holdings, Inc.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Rise in prevalence of chronic diseases.
- 3.4.1.2. Growth in trend of digitization in healthcare industry.
- 3.4.1.3. Rise in adoption of life science analytics software by pharmaceutical and biotechnology companies.
- 3.4.2. Restraints
- 3.4.2.1. Data privacy and security concerns.
- 3.4.3. Opportunities
- 3.4.3.1. Technological advancements in life science analytics.
CHAPTER 4: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY PRODUCT
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Descriptive analytics
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Predictive Analytics
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Prescriptive analytics
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY APLICATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Research and development
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Sales and marketing support
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Regulatory compliance
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Supply chain analytics
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Pharmacovigilance
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
CHAPTER 6: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY DELIVERY MODEL
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. On-premise
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Cloud
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
CHAPTER 7: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY COMPONENT
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Software
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. Services
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
CHAPTER 8: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY END USER
- 8.1. Overview
- 8.1.1. Market size and forecast
- 8.2. Pharmaceutical and biotechnology companies
- 8.2.1. Key market trends, growth factors and opportunities
- 8.2.2. Market size and forecast, by region
- 8.2.3. Market share analysis by country
- 8.3. Medical device companies
- 8.3.1. Key market trends, growth factors and opportunities
- 8.3.2. Market size and forecast, by region
- 8.3.3. Market share analysis by country
- 8.4. Research centers
- 8.4.1. Key market trends, growth factors and opportunities
- 8.4.2. Market size and forecast, by region
- 8.4.3. Market share analysis by country
- 8.5. Third party administrators
- 8.5.1. Key market trends, growth factors and opportunities
- 8.5.2. Market size and forecast, by region
- 8.5.3. Market share analysis by country
CHAPTER 9: LIFE SCIENCE ANALYTICS SOFTWARE MARKET, BY REGION
- 9.1. Overview
- 9.1.1. Market size and forecast By Region
- 9.2. North America
- 9.2.1. Key market trends, growth factors and opportunities
- 9.2.2. Market size and forecast, by Product
- 9.2.3. Market size and forecast, by Aplication
- 9.2.4. Market size and forecast, by Delivery Model
- 9.2.5. Market size and forecast, by Component
- 9.2.6. Market size and forecast, by End User
- 9.2.7. Market size and forecast, by country
- 9.2.7.1. U.S.
- 9.2.7.1.1. Market size and forecast, by Product
- 9.2.7.1.2. Market size and forecast, by Aplication
- 9.2.7.1.3. Market size and forecast, by Delivery Model
- 9.2.7.1.4. Market size and forecast, by Component
- 9.2.7.1.5. Market size and forecast, by End User
- 9.2.7.2. Canada
- 9.2.7.2.1. Market size and forecast, by Product
- 9.2.7.2.2. Market size and forecast, by Aplication
- 9.2.7.2.3. Market size and forecast, by Delivery Model
- 9.2.7.2.4. Market size and forecast, by Component
- 9.2.7.2.5. Market size and forecast, by End User
- 9.2.7.3. Mexico
- 9.2.7.3.1. Market size and forecast, by Product
- 9.2.7.3.2. Market size and forecast, by Aplication
- 9.2.7.3.3. Market size and forecast, by Delivery Model
- 9.2.7.3.4. Market size and forecast, by Component
- 9.2.7.3.5. Market size and forecast, by End User
- 9.3. Europe
- 9.3.1. Key market trends, growth factors and opportunities
- 9.3.2. Market size and forecast, by Product
- 9.3.3. Market size and forecast, by Aplication
- 9.3.4. Market size and forecast, by Delivery Model
- 9.3.5. Market size and forecast, by Component
- 9.3.6. Market size and forecast, by End User
- 9.3.7. Market size and forecast, by country
- 9.3.7.1. Germany
- 9.3.7.1.1. Market size and forecast, by Product
- 9.3.7.1.2. Market size and forecast, by Aplication
- 9.3.7.1.3. Market size and forecast, by Delivery Model
- 9.3.7.1.4. Market size and forecast, by Component
- 9.3.7.1.5. Market size and forecast, by End User
- 9.3.7.2. France
- 9.3.7.2.1. Market size and forecast, by Product
- 9.3.7.2.2. Market size and forecast, by Aplication
- 9.3.7.2.3. Market size and forecast, by Delivery Model
- 9.3.7.2.4. Market size and forecast, by Component
- 9.3.7.2.5. Market size and forecast, by End User
- 9.3.7.3. UK
- 9.3.7.3.1. Market size and forecast, by Product
- 9.3.7.3.2. Market size and forecast, by Aplication
- 9.3.7.3.3. Market size and forecast, by Delivery Model
- 9.3.7.3.4. Market size and forecast, by Component
- 9.3.7.3.5. Market size and forecast, by End User
- 9.3.7.4. Italy
- 9.3.7.4.1. Market size and forecast, by Product
- 9.3.7.4.2. Market size and forecast, by Aplication
- 9.3.7.4.3. Market size and forecast, by Delivery Model
- 9.3.7.4.4. Market size and forecast, by Component
- 9.3.7.4.5. Market size and forecast, by End User
- 9.3.7.5. Spain
- 9.3.7.5.1. Market size and forecast, by Product
- 9.3.7.5.2. Market size and forecast, by Aplication
- 9.3.7.5.3. Market size and forecast, by Delivery Model
- 9.3.7.5.4. Market size and forecast, by Component
- 9.3.7.5.5. Market size and forecast, by End User
- 9.3.7.6. Rest of Europe
- 9.3.7.6.1. Market size and forecast, by Product
- 9.3.7.6.2. Market size and forecast, by Aplication
- 9.3.7.6.3. Market size and forecast, by Delivery Model
- 9.3.7.6.4. Market size and forecast, by Component
- 9.3.7.6.5. Market size and forecast, by End User
- 9.4. Asia-Pacific
- 9.4.1. Key market trends, growth factors and opportunities
- 9.4.2. Market size and forecast, by Product
- 9.4.3. Market size and forecast, by Aplication
- 9.4.4. Market size and forecast, by Delivery Model
- 9.4.5. Market size and forecast, by Component
- 9.4.6. Market size and forecast, by End User
- 9.4.7. Market size and forecast, by country
- 9.4.7.1. Japan
- 9.4.7.1.1. Market size and forecast, by Product
- 9.4.7.1.2. Market size and forecast, by Aplication
- 9.4.7.1.3. Market size and forecast, by Delivery Model
- 9.4.7.1.4. Market size and forecast, by Component
- 9.4.7.1.5. Market size and forecast, by End User
- 9.4.7.2. China
- 9.4.7.2.1. Market size and forecast, by Product
- 9.4.7.2.2. Market size and forecast, by Aplication
- 9.4.7.2.3. Market size and forecast, by Delivery Model
- 9.4.7.2.4. Market size and forecast, by Component
- 9.4.7.2.5. Market size and forecast, by End User
- 9.4.7.3. India
- 9.4.7.3.1. Market size and forecast, by Product
- 9.4.7.3.2. Market size and forecast, by Aplication
- 9.4.7.3.3. Market size and forecast, by Delivery Model
- 9.4.7.3.4. Market size and forecast, by Component
- 9.4.7.3.5. Market size and forecast, by End User
- 9.4.7.4. Rest of Asia-Pacific
- 9.4.7.4.1. Market size and forecast, by Product
- 9.4.7.4.2. Market size and forecast, by Aplication
- 9.4.7.4.3. Market size and forecast, by Delivery Model
- 9.4.7.4.4. Market size and forecast, by Component
- 9.4.7.4.5. Market size and forecast, by End User
- 9.5. LAMEA
- 9.5.1. Key market trends, growth factors and opportunities
- 9.5.2. Market size and forecast, by Product
- 9.5.3. Market size and forecast, by Aplication
- 9.5.4. Market size and forecast, by Delivery Model
- 9.5.5. Market size and forecast, by Component
- 9.5.6. Market size and forecast, by End User
- 9.5.7. Market size and forecast, by country
- 9.5.7.1. Brazil
- 9.5.7.1.1. Market size and forecast, by Product
- 9.5.7.1.2. Market size and forecast, by Aplication
- 9.5.7.1.3. Market size and forecast, by Delivery Model
- 9.5.7.1.4. Market size and forecast, by Component
- 9.5.7.1.5. Market size and forecast, by End User
- 9.5.7.2. Saudi Arabia
- 9.5.7.2.1. Market size and forecast, by Product
- 9.5.7.2.2. Market size and forecast, by Aplication
- 9.5.7.2.3. Market size and forecast, by Delivery Model
- 9.5.7.2.4. Market size and forecast, by Component
- 9.5.7.2.5. Market size and forecast, by End User
- 9.5.7.3. South Africa
- 9.5.7.3.1. Market size and forecast, by Product
- 9.5.7.3.2. Market size and forecast, by Aplication
- 9.5.7.3.3. Market size and forecast, by Delivery Model
- 9.5.7.3.4. Market size and forecast, by Component
- 9.5.7.3.5. Market size and forecast, by End User
- 9.5.7.4. Rest of LAMEA
- 9.5.7.4.1. Market size and forecast, by Product
- 9.5.7.4.2. Market size and forecast, by Aplication
- 9.5.7.4.3. Market size and forecast, by Delivery Model
- 9.5.7.4.4. Market size and forecast, by Component
- 9.5.7.4.5. Market size and forecast, by End User
CHAPTER 10: COMPETITIVE LANDSCAPE
- 10.1. Introduction
- 10.2. Top winning strategies
- 10.3. Product mapping of top 10 player
- 10.4. Competitive dashboard
- 10.5. Competitive heatmap
- 10.6. Top player positioning, 2022
CHAPTER 11: COMPANY PROFILES
- 11.1. SAS Institute Inc.
- 11.1.1. Company overview
- 11.1.2. Key executives
- 11.1.3. Company snapshot
- 11.1.4. Operating business segments
- 11.1.5. Product portfolio
- 11.1.6. Key strategic moves and developments
- 11.2. Oracle Corporation
- 11.2.1. Company overview
- 11.2.2. Key executives
- 11.2.3. Company snapshot
- 11.2.4. Operating business segments
- 11.2.5. Product portfolio
- 11.2.6. Business performance
- 11.2.7. Key strategic moves and developments
- 11.3. Accenture
- 11.3.1. Company overview
- 11.3.2. Key executives
- 11.3.3. Company snapshot
- 11.3.4. Operating business segments
- 11.3.5. Product portfolio
- 11.3.6. Business performance
- 11.3.7. Key strategic moves and developments
- 11.4. IQVIA
- 11.4.1. Company overview
- 11.4.2. Key executives
- 11.4.3. Company snapshot
- 11.4.4. Operating business segments
- 11.4.5. Product portfolio
- 11.4.6. Business performance
- 11.5. Cognizant
- 11.5.1. Company overview
- 11.5.2. Key executives
- 11.5.3. Company snapshot
- 11.5.4. Operating business segments
- 11.5.5. Product portfolio
- 11.5.6. Business performance
- 11.6. Wipro Limited
- 11.6.1. Company overview
- 11.6.2. Key executives
- 11.6.3. Company snapshot
- 11.6.4. Operating business segments
- 11.6.5. Product portfolio
- 11.6.6. Business performance
- 11.6.7. Key strategic moves and developments
- 11.7. MaxisIT Incorporated
- 11.7.1. Company overview
- 11.7.2. Key executives
- 11.7.3. Company snapshot
- 11.7.4. Operating business segments
- 11.7.5. Product portfolio
- 11.8. Take Solutions Limited
- 11.8.1. Company overview
- 11.8.2. Key executives
- 11.8.3. Company snapshot
- 11.8.4. Operating business segments
- 11.8.5. Product portfolio
- 11.8.6. Business performance
- 11.9. TIBCO Software Inc.
- 11.9.1. Company overview
- 11.9.2. Key executives
- 11.9.3. Company snapshot
- 11.9.4. Operating business segments
- 11.9.5. Product portfolio
- 11.10. ExlService Holdings, Inc.
- 11.10.1. Company overview
- 11.10.2. Key executives
- 11.10.3. Company snapshot
- 11.10.4. Operating business segments
- 11.10.5. Product portfolio
- 11.10.6. Business performance
- 11.10.7. Key strategic moves and developments