Life Science Analytics Industry worth $42.0 billion by 2025

The Growth in this Pharmaceutical Analytics Software Market is mainly driven by big data in the life science industry, technological advancements, growing adoption of analytics solutions in clinical trials, increasing adoption of analytics for sales and marketing applications, need for improved data standardization, increasing prevalence of chronic diseases, growing pressure to curb healthcare spending, and the need for improved patient outcomes. On the other hand, high implementation costs are expected to restrain the growth of this market to a certain extent.

According to the new market research report "Life Science Analytics Market is expected to reach $42.0 billion by 2025, at a CAGR of 13.7% during the forecast period of 2020 to 2025.

Based on the delivery mode, the Life Science Analytics Market is segmented into the on-demand model and the on-premise model. The on-demand model segment is expected to grow at the highest CAGR during the forecast period, lack of upfront capital investments for hardware, owing to advantages such as increasing demand for self-driven analytics, extreme capacity flexibility, and pay-as-you-go pricing of this model.

The prominent players operating in the Life Science Analytics Market are Oracle Corporation (US), Accenture (Ireland), Wipro (India), Cognizant (US), SAS Institute Inc. (US), IBM Corporation (US), SCIO Health Analytics (US), Allscripts Healthcare Solutions (US), Cerner Corporation (US), IQVIA (US), Microsoft (US), Infosys Limited (US), MaxisIT (US), Optum (US), and Cotiviti (US).

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