The Europe Life Science Analytics Market would witness market growth of 7.1% CAGR during the forecast period (2020-2026). Increasing applications of innovative analytics in life science applications and growing demand from the pharmaceutical industry are the main parameters propelling the market. Analytics is used extensively used in the life science analytics industry in order to assess risk, the effectiveness of clinical trials assessment, offer personalized medicine, progress faster and more prolific research, and development channel, budgeting, forecasting profits, controlling product price, and expect virus evolution.
The increasing acceptance of artificial intelligence and big data in the healthcare sector is expected to boost the market during the foreseeable period. The rising impact of social media on the healthcare sector is driving the growth of the market. The notion of social media is allowing the organizations to enable the incorporation of several information in a platform, vindicate the cost, & better target the suppliers and consumers.
Electronic Health Records (EHR), mHealth, eHealth, and mobile applications coupled with artificial intelligence data analytics are presenting more opportunities to customized medical approaches, which in turn is growing the demand for data analytic tools in the industry over the foreseeable period. As per the Personalized Medicine Coalition, the wide range of drugs manufactured by personal medicine methods has grown by about 62% in the past few years. Furthermore, approaches adopted by main players include partnerships, collaborations, mergers & acquisitions, product launches, and government initiatives are additionally boosting the market.
Based on Component, the market is segmented into Services and Software. Based on Application, the market is segmented into Sales & Marketing Support, Research and Development (R&D), Pharmacovigilance, Supply Chain Analytics and Regulatory Compliance. Based on End User, the market is segmented into Pharmaceutical, Medical Devices, Biotechnology and Other End Users. Based on Delivery Mode, the market is segmented into On-Premise and On-demand. Based on Type, the market is segmented into Descriptive, Predictive, Reporting and Prescriptive. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Life Science Analytics Market in Europe is expected to register a CAGR of 7.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Microsoft Corporation, Accenture PLC, Cognizant Technology Solutions Corporation, Infosys Limited, IQVIA Holdings, Inc., AllScripts Healthcare Solutions, Inc., Cerner Corporation and SAS Institute, Inc.
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