Life Science Analytics Market worth $68.81 billion by 2030
The report "Life Science Analytics Market by Type (Descriptive, Prescriptive, Predictive), by Service (Analytics), Application (Drug Discovery, Trials, RWE, Access, Sales & Marketing, Drug Safety), End User (Pharma, Medical Device) & Region - Global Forecast to 2030"global life science analytics market is projected to reach USD 68.81 billion by 2030 from USD 40.03 billion in 2025, at a CAGR of 11.4% during the forecast period.
Browse 463 market data Tables and 53 Figures spread through 404 Pages and in-depth TOC on "Life Science Analytics Market by Type (Descriptive, Prescriptive, Predictive), by Service (Analytics), Application (Drug Discovery, Trials, RWE, Access, Sales & Marketing, Drug Safety), End User (Pharma, Medical Device) & Region - Global Forecast to 2030"
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The market for life science analytics solutions is rapidly expanding due to several factors. These include a growing emphasis on value-based care, an increasing demand for big data analytics in research and development (R&D) products, a rising adoption of cloud-based analytics solutions, and the application of analytics in personalized and precision medicine. These trends present significant growth opportunities in the market. However, challenges remain, such as issues related to data integration, a shortage of skilled professionals capable of performing analytical operations, and a reluctance to adopt new technologies in emerging economies.
The managed services segment holds the largest market share in the life science analytics services market, by type.
The life science analytics services market is categorized into two main types: managed services and professional services. In 2024, the managed services segment held the largest share of the life science analytics market. This significant share is largely due to the increasing demand for advanced insights, the need for cost-effective drug development, technological advancements in the industry, and the necessity for ongoing support in strategic decision-making. These factors make outsourcing analytics and consulting more attractive for life science companies.
Leading companies in the field offer consulting services that leverage data and analytics to evaluate opportunities, design analytics strategies, and implement appropriate technology solutions. For instance, in May 2023, SAS Institute (US) partnered with HTEC (US) to deliver strategic analytics consulting services across various sectors, including life sciences and healthcare.
The research & development segment accounted for the largest share of the life science analytics market, by application.
The life science analytics market is divided into several applications, including research & development, commercial analytics, regulatory compliance, manufacturing and supply chain optimization, and safety. In 2024, the research & development segment held the largest share of this market. This significant share is mainly due to its capacity to accelerate drug discovery, optimize clinical trials, and improve research accuracy through advanced data analysis and AI-driven insights. Additionally, factors such as increasing R&D expenditure in the pharmaceutical and biopharmaceutical sectors, a rise in patent expirations and declining drug pipelines, and a growing focus on personalized medicine and precision therapeutics are further driving growth in this segment.
Asia Pacific is expected to witness a considerable growth rate during the forecast period.
The life science analytics market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to experience significant growth, with a noticeable annual growth rate during the forecast period. Key factors driving the expansion of life science analytics solutions in this region include a gradual shift towards adopting advanced technologies such as automation, artificial intelligence (AI), and machine learning (ML). Additionally, rising investments are attracting new market players, and the presence of leading educational institutions and research centers in Asia Pacific is fostering scientific innovation and technological advancement. Furthermore, increased direct investments from pharmaceutical and biotechnology companies in Europe and North America are anticipated to boost the adoption of life science analytics solutions in Asia.
Key Players
Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US), Saama (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot (US), Salesforce (US), Google LLC (US), Amazon Web Services, Inc. (US), Veeva Systems (US), Elsevier (Netherlands), and Komodo Health, Inc. (US) are the major players in this market. These companies mainly focus on strategies such as acquisitions, collaborations, partnerships, expansion, and product launches and updates to remain competitive and further increase their share in the market.
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