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Driving Better Medical Outcomes with Life Science Analytics

Jul 28,2021 | Healthcare Services

Life Science is a study of living organisms and various life forms which can include plants, animals, viruses, bacteria, other micro-organisms and even cells. The Pharmaceutical and life science companies use life science analytics to solve data integration problems, unpredictable demand, and improve operational performance.

The growing investments in urgent care, increasing in digitization of pharmaceutical companies, use of various technologies such as big data analytics, predictive analytics, and strategic development between hospitals and urgent care providers has led the adoption of Global Life Science Analytics across the forecast period. For Instance: According to a new study by the Society of Actuaries Predictive analytics and Big Data analytics is now being used by 47% of healthcare organisations, Predictive analytics is also expected to save companies 25% or more in annual costs over the next 5 years, according to over 57% of healthcare sectors.

Global Life Science Analytics Market is valued approximately US$ 19.44 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.70% over the forecast period 2020-2027. However, high implementation costs and data privacy concerns impede the growth of the market over the forecast period of 2020-2027. Also, with the increasing prevalence of pandemics, the adoption & demand for Global Life Science Analytics is likely to increase the market growth during the forecast period.

Europe is the leading/significant region across the world in terms of market share owing to the growing geriatric population, pandemics and promptness & affordability of urgent care services coupled with the well-established healthcare infrastructure.

Major market players include IBM Corporation, Oracle Corporation, Sas Institute Inc., Accenture,
Iqvia, Cognizant, Wipro Limited, Optum, Microsoft Corporation, Cerner Corporation.

The objective of this study offered on Bharatbook is to define market sizes of different segments & countries in recent years and to forecast the values to the coming 8 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

To know more about the market, please visit Global Life Science Analytics Market.