Global Life Science Analytics Market Insights and Forecast to 2028

The global Life Science Analytics market size is projected to reach US$ 47600 million by 2028, from US$ 23930 million in 2021, at a Compound Annual Growth Rate (CAGR) of 10.2% during 2022-2028. Life science analytics is the branch of analysis that focuses on offering insights into hospital management, patient records, costs, diagnoses, and more. The field covers a broad swath of the healthcare industry, offering insights on both the macro and micro level. Major factors driving the growth of Life Science Analytics Market size are that growth in this market is mainly driven by technological advancements, big data in the life science industry, growing adoption of analytical solutions in clinical trials, and improved data standardization.

The number of teleconsultations has increased due to the COVID-19 outbreak. Integrating EHR with other healthcare IT solutions, such as telemedicine and e-prescription features, allows healthcare providers to create an interconnected network to ensure the use of healthcare information technology (HCIT) for patient diagnosis and prescription of medicines. Therefore, the rising number of cases of COVID-19, the scarcity of healthcare providers, and the need for better management of patient data are projected to increase demand for Life Science Analytics market size.

Market competition is intense. Oracle, Accenture, IBM, IQVIA, Salesforce, etc. are the leaders of the industry, and they hold key technologies and patents, with high-end customers. North America is the largest market, with a sales market share of nearly 40% in 2019. Following North America, Europe is the second-largest sales place with a sales market share of nearly 30%. Life Science Analytics is widely used for Healthcare providers, Pharmaceutical Industry, Academic Organizations, and Others. The most proportion of Life Science Analytics used for the pharmaceutical industry, and the proportion in 2019 is about 40%. The classification of Life Science Analytics includes Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics. The proportion of Descriptive Analytics in 2019 is about 40%.

North America is expected to hold the largest life science analytics market share during the forecast period. U.S.-based companies are adopting new analytical solutions in their business, including analyzing clinical research data from the SAS database, helping to develop early-stage drugs, forecasting revenue, and predicting of health outcomes.

Life Science Analytics market is segmented by players, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Life Science Analytics market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application for the period 2017-2028.

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics

• Healthcare Provider
• Pharmaceutical Industry
• Academic Organizations
• Others

• Oracle
• Accenture
• IBM
• IQVIA
• Salesforce
• Cognizant
• Veeva System
• SAP
• Sas Institute
• Exl Services
• Wipro
• Cegedim

• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA