PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1720953
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1720953
The 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. The market is anticipated to grow due to the complexity and diversity of big data in the life sciences sector. There is an increasing demand for advanced analytical solutions for various applications across the industry, including research and development, commercialization (such as market access, pricing, and sales and marketing), and safety. Additionally, the market has grown because of the need for better data standardization in the life sciences and healthcare industries. However, challenges to market growth include inadequate IT infrastructure and a reluctance to adopt analytics solutions in emerging economies.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD billion) |
Segments | Type, Component, Application, and End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
"The software-as-a-service (SaaS) subsegment is expected to register the highest growth during the forecast period."
The life science analytics software segment is further segmented into on-premise, cloud-based, and software-as-a-service. The software-as-a-service (SaaS) segment is expected to register the highest growth during the forecast period. The growth of the SaaS segment can be attributed to the ample number of advantages offered by this model, such as the seamless integration of data from various cloud silos, unlimited user access from remote locations, low maintenance costs, high security, privacy, easy accessibility, no upfront capital investment for hardware, and extreme capacity flexibility and optimized resource utilization. Moreover, several applications offered by the SaaS model, spanning areas such as accounting, performance monitoring, and communication through webmail and instant messengers, further contribute to the segment's growth.
"Pharmaceutical & biotechnology companies are expected to dominate the life science analytics market during the forecast period."
Pharmaceutical & biotechnology companies, medical device companies, research institutes, and outsourced life science organizations make up the end-user segments of the life science analytics market. In 2024, pharmaceutical & biotechnology companies accounted for a significant share of the life science analytics market, by end user. This segment is also expected to register the highest growth during the forecast period. The prominent position & high growth of this segment are due to the increasing R&D expenditure of pharma & biotech companies, the increasing use of analytics for research & development processes, the growing importance of analytics in pharmacovigilance, the need to accelerate drug discovery and optimize clinical trials, and the need to enhance regulatory compliance through data-driven insights. Moreover, the push for personalized medicine and precision therapeutics and the integration of AI and machine learning further strengthen the value of analytics in the pharma & biotech industry.
"Asia Pacific is expected to register the highest market growth during the forecast period."
The life science analytics market is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to register the highest growth during the forecast period. The high growth of this region can be attributed to the presence of a large and growing patient population in the region, the increasing need for innovative therapies, the emergence of big data in healthcare, increasing spending on HCIT infrastructure, and the shifting focus of various market players on emerging countries in the region. Government initiatives to promote the adoption of digital & technologically enabled solutions across the life science industry and the significant focus on integrating sophisticated technologies across workflows also contribute to market growth.
List of Companies Profiled in the Report
The report provides an analysis of the life science analytics market and aims to estimate the market size and future growth potential of various segments based on type, component, application, end user, and region. It also examines factors affecting market growth, including drivers, opportunities, and challenges. The report evaluates the opportunities and challenges for stakeholders and explores micromarkets in terms of their growth trends, prospects, and contributions to the overall life science analytics market. Additionally, the report forecasts the revenue of market segments across five major regions. It includes a competitive analysis of the key players in the market, accompanied by their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.