The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s life science analytics market report forecasts the life science analytics market size to grow to $43.91 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Life Science Analytics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/life-science-analytics-global-market-report

Life Science Analytics Market Size Forecast
The global life science analytics market is expected to grow from $24.13 billion in 2022 to $27.13 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The life science analytics market size is expected to grow to $43.91 billion in 2027 at a CAGR of 12.8%.

North America held the largest life science analytics market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Life Science Analytics Market Driver ­– Increase In The Prevalence Of Chronic Diseases
For instance, according to the International Diabetes Federation (IDF), an international organizations made from over 230 national diabetes association’s from 160 countries, in 2021, approximately 537 million adults were living with diabetes and the number is projected to increase to 643 million by 2030 and 783 million by 2045. Therefore, the increasing prevalence of chronic diseases drives the life science analytics market.

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Key Life Science Analytics Market Trend – Technological Advancement
Major companies operating in the life science analytics sector are focused on developing new technological solutions to strengthen their position. For instance, in February 2020, IQVIA, a US-based company that provides life science analytics, launched the Avacare Clinical Research Network, a technology-based worldwide site network that allows for additional clinical trials to be conducted at established clinical and research facilities. The new Avacare Clinical Research Network expands research and clinical alternatives for patients. According to IQVIA, the analytical techniques allow Avacare’s network sites to swiftly and efficiently connect patients to clinical trials.

Life Science Analytics Market Segment
1) By Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
2) By Component: Software, Services
3) By Deployment: On-Demand, On-Premises
4) By Application: Research and Development, Preclinical Trials, Clinical Trials, Sales and Marketing, Regulatory Compliance, Supply Chain Optimization, Pharmacovigilance
5) By End User: Medical Device, Pharmaceutical, Biotechnology, Other End Users

Life Science Analytics Market Major Players and Strategies
Major players in the life science analytics market are Oracle Corporation, Accenture, SAS Institute Inc., IBM Corporation, IQVIA, Wipro, Cognizant, SCIO Health Analytics, Cerner Corporation, Optum, Microsoft Corporation, MaxisIT Inc., Cotiviti, and Allscripts Healthcare Solutions.

In July 2022, Trinity Life Sciences, a US-based provider of life sciences commercialization services, acquired D Cube Analytics for an undisclosed amount. The acquisition would add extensive data science and digital transformation capabilities to the product offerings of Trinity. D Cube Analytics is an Illinois-based healthcare analytics company.

The Life Science Analytics Global Market Report 2023 covers regional data on life science analytics market size, life science analytics market trends and drivers, opportunities, strategies, and life science analytics market competitor analysis. The countries covered in the life science analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Life science analytics refers to a branch of science that has to do with the research and development of human life. This industry is fundamental to understanding the nature and severity of diseases. It is a process of clinical data analysis that provides predictive tools for better patient care. Life science analytics is used to improve and protect animal and human life.

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