According to the new market research report “Life Science Analytics Market” is expected to reach USD 24.73 Billion by 2021 from USD 13.26 Billion in 2016, at a CAGR of 13.3% during the forecast period.
“Life Science Analytics Market by Type (Descriptive, Prescriptive), Application (Marketing, R&D, Compliance, SCM), Component (Software, Service), Delivery (On premise, Cloud), End user (Pharmaceutical, Biotechnology, Medical Device, CRO) – Forecasts to 2021”
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The report provides a detailed overview of the major drivers, restraints, challenges, opportunities and strategies impacting the coagulation analyzer market along with the estimates and forecasts of the revenue and market share analysis.
The growth of this market is mainly driven by factors such as technological advancements, availability of big data in the life science industry, growing adoption of analytics solutions for clinical trials, increasing adoption of analytics solutions for sales and marketing applications, growing need for improved data standardization, rising prevalence of chronic diseases, increasing pressure to curb healthcare spending, and growing need for improved patient outcomes. Moreover, increasing focus on value-based medicine, use of analytics in precision and personalized medicine, cloud-based analytics, use of big data analytics to increase R&D productivity, and emergence of social media and its impact on the life science industry provide significant growth opportunities in the market.
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The report segments the life science analytics market based on type, application, component, delivery model, end user, and region.
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The life science analytics market is a highly fragmented market, with several big and emerging players. Key market players include SAS Institute Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Quintiles, Inc. (U.S.), Accenture (Ireland), Cognizant (U.S.), Wipro Limited (India), MaxisIT Inc. (U.S.), TAKE Solutions (India), and SCIO Health Analytics (U.S.).
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