Life Sciences Analytics Market

Executive Summary

Life Sciences Analytics Market was valued at US $9.39 billion in 2021 and is projected to grow at 9.18% CAGR over the forecast period to reach US $15.90 billion by 2027. Life Sciences Analytics Market represented US $1.51 billion opportunity over 2019-2021 and estimated to create US $6.51 billion opportunity in 2027 over 2021.

Life Sciences Analytics from Consainsights analyses the Life Sciences Analytics Market in the Life Sciences industry over the forecast period to 2027.

Life Sciences Analytics research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Life Sciences Analytics segmentation includes Product Type, Application, Component, End User and Geography.

Based on the Product Type, the Life Sciences Analytics analysis covers Descriptive Analytics, Predictive Analytics, Prescriptive Analytics.

In Product Type segment, Descriptive Analytics segment has highest cagr growth of 8.12%.

Based on the Application, the Life Sciences Analytics analysis covers Research and Development, Supply Chain Analytics, Sales and Marketing, Other Applications.

In Application segment, Research and Development segment has highest cagr growth of 8.12%.

Based on the Component, the Life Sciences Analytics analysis covers Services, Software.

In Component segment, Services segment has highest cagr growth of 8.12%.

Based on the End User, the Life Sciences Analytics analysis covers Clinical Research Institutions, Pharmaceutical and Biotechnology Companies, Medical Device Companies, Other End User.

In End User segment, Clinical Research Institutions segment has highest cagr growth of 8.12%.

Based on the region, the Life Sciences Analytics analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Accenture, Cognizant, IBM Corporation, MaxisIT Inc., Oracle Corporation, IQVIA, SAS Institute Inc., SCIOInspire Corp., TAKE Solutions Limited, Wipro Limited and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Product Type

Introduction

In 2021, Descriptive Analytics segment has the highest revenue of US $5.47 billion and is expected to grow at CAGR of 8.12% by 2027 Descriptive Analytics segment has highest cagr growth of 8.12%.

Descriptive Analytics

Descriptive Analytics segment was valued at US $4.59 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $9.26 billion by 2027. Descriptive Analytics segment represented US $0.88 billion opportunity over 2019-2021 and estimated to create US $3.79 billion opportunity in 2027 over 2021.

Predictive Analytics

Predictive Analytics segment was valued at US $1.41 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $2.84 billion by 2027. Predictive Analytics segment represented US $0.27 billion opportunity over 2019-2021 and estimated to create US $1.16 billion opportunity in 2027 over 2021.

Prescriptive Analytics

Prescriptive Analytics segment was valued at US $1.88 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $3.80 billion by 2027. Prescriptive Analytics segment represented US $0.36 billion opportunity over 2019-2021 and estimated to create US $1.56 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Research and Development segment has the highest revenue of US $4.75 billion and is expected to grow at CAGR of 8.12% by 2027 Research and Development segment has highest cagr growth of 8.12%.

Research and Development

Research and Development segment was valued at US $3.98 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $8.04 billion by 2027. Research and Development segment represented US $0.76 billion opportunity over 2019-2021 and estimated to create US $3.29 billion opportunity in 2027 over 2021.

Supply Chain Analytics

Supply Chain Analytics segment was valued at US $2.25 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $4.53 billion by 2027. Supply Chain Analytics segment represented US $0.43 billion opportunity over 2019-2021 and estimated to create US $1.86 billion opportunity in 2027 over 2021.

Sales and Marketing

Sales and Marketing segment was valued at US $1.25 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $2.51 billion by 2027. Sales and Marketing segment represented US $0.24 billion opportunity over 2019-2021 and estimated to create US $1.03 billion opportunity in 2027 over 2021.

Other Applications

Other Applications segment was valued at US $0.40 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $0.81 billion by 2027. Other Applications segment represented US $0.08 billion opportunity over 2019-2021 and estimated to create US $0.33 billion opportunity in 2027 over 2021.

Component

Introduction

In 2021, Services segment has the highest revenue of US $9.02 billion and is expected to grow at CAGR of 8.12% by 2027 Services segment has highest cagr growth of 8.12%.

Services

Services segment was valued at US $7.57 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $15.28 billion by 2027. Services segment represented US $1.45 billion opportunity over 2019-2021 and estimated to create US $6.26 billion opportunity in 2027 over 2021.

Software

Software segment was valued at US $0.31 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $0.62 billion by 2027. Software segment represented US $0.06 billion opportunity over 2019-2021 and estimated to create US $0.25 billion opportunity in 2027 over 2021.

End User

Introduction

In 2021, Clinical Research Institutions segment has the highest revenue of US $4.15 billion and is expected to grow at CAGR of 8.12% by 2027 Clinical Research Institutions segment has highest cagr growth of 8.12%.

Clinical Research Institutions

Clinical Research Institutions segment was valued at US $3.48 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $7.03 billion by 2027. Clinical Research Institutions segment represented US $0.67 billion opportunity over 2019-2021 and estimated to create US $2.88 billion opportunity in 2027 over 2021.

Pharmaceutical and Biotechnology Companies

Pharmaceutical and Biotechnology Companies segment was valued at US $2.67 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $5.40 billion by 2027. Pharmaceutical and Biotechnology Companies segment represented US $0.51 billion opportunity over 2019-2021 and estimated to create US $2.21 billion opportunity in 2027 over 2021.

Medical Device Companies

Medical Device Companies segment was valued at US $1.71 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $3.45 billion by 2027. Medical Device Companies segment represented US $0.33 billion opportunity over 2019-2021 and estimated to create US $1.41 billion opportunity in 2027 over 2021.

Other End User

Other End User segment was valued at US $0.01 billion in 2019 and is projected to grow at 8.12% CAGR over the forecast period to reach US $0.02 billion by 2027. Other End User segment represented US $0.00 billion opportunity over 2019-2021 and estimated to create US $0.01 billion opportunity in 2027 over 2021.