Life sciences analytics is the process of clinical data analysis which provides predictive tools for better patient care. It is an analytical application used in medical device, pharmaceutical, and biotechnological companies, clinical research organizations, and various divisions, such as research, marketing, supply chain, pharmacovigilance, and others. The application of analytics has emerged as a helpful tool for several pharmaceutical, biotechnological, and medical device enterprises, as it helps overcome various challenges and enhance operational efficiency.

Market Dynamics:

Increasing adoption of analytics solutions in pharmaceuticals and clinical trials, emergence of advanced analytics method in life science companies, need for improved patient outcomes, and growing pressure to reduce healthcare spending are some major factors expected to aid in the growth the global life sciences analytics market.

In July 2022, Charles River Associates announced the launch of its new data analytics suite, the Healthcare Claims Analytics Platform (HCAP), at the World Orphan Drug Congress USA 2022 in Boston. Developed by CRA’s Life Sciences Practice, HCAP is a modular, dynamic, data-visualization tool that provides streamlined analysis of patient, Health Care Practitioner, and Health Care Organization data to support insight generation and decision-making.

In February 2020, IQVIA announced the launch of the Avacare Clinical Research Network, a technology-based worldwide site network that allows for extra clinical trials to be conducted at established clinical and research facilities. The 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.

Key features of the study:

• This report provides in-depth analysis of the global life sciences analytics market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global life sciences analytics market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Apollo Intelligence, SERMA Group, M3 (EU) Ltd., Dynata, Wipro Limited, SAS Institute Inc., Oracle Corporation, MaxisIT, IBM Corporation, Cognizant, Accenture, EXL Service (SCIOInspire Corp.), IQVIA, and TAKE Solutions Limited, among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global life sciences analytics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global life sciences analytics market.

Detailed Segmentation:

• Global Life Sciences Analytics Market By Product Type:
  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics
• Global Life Sciences Analytics Market By Application:
  • Research and Development
  • Supply Chain Analytics
  • Sales and Marketing
  • Other Applications
• Global Life Sciences Analytics Market By Component:
  • Services
  • Software
• Global Life Sciences Analytics Market By End User:
  • Clinical Research Institutions
  • Pharmaceutical and Biotechnology Companies
  • Medical Device Companies
  • Other End Users
• Global Life Sciences Analytics Market By Geography:
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa
• Company Profiles
  • Apollo Intelligence,
  • SERMA Group,
  • M3 (EU) Ltd.,
  • Dynata,
  • Wipro Limited,
  • SAS Institute Inc.,
  • IQVIA,
  • Oracle Corporation,
  • MaxisIT,
  • IBM Corporation,
  • Cognizant,
  • Accenture,
  • EXL Service (SCIOInspire Corp.)
  • TAKE Solutions Limited