Life Science Analytics Quadrant Report
Life Science Analytics
The emergence of technologies like artificial intelligence (AI), quantum computing, and cognitive computing that turn vast amounts of raw data into actionable insights, simplifying reports and creating interactive dashboards, the growing use of analytics in pre-clinical trials, drug discovery, and clinical trials for applications like patient recruitment, site identification, etc., decreasing the workload on researchers & investigators, and the standardization of diverse datasets generated from sources like clinical trials, electronic health records (EHRs), genomics, and real-world evidence to efficiently exchange of information across various platforms & geographical regions to improve multi-site clinical trials & cross-border research collaborations are some of the major factors that contribute to the continuously growing adoption of analytics across the life science industry.
Attractive Opportunities in Life Science Analytics Market
“Descriptive analytics segment accounted for a substantial share of the life science analytics market, by type in 2023.”
In 2023, descriptive analytics dominated the life science analytics market by type, holding the largest share. This significant position can be attributed to the increasing volume of data generated from clinical trials, patient records, and research studies, the rising focus on leveraging real-world data, and the growing demand for data-driven decision-making in the industry.
“Commercial analytics is expected to register the highest growth in the life science analytics market, by application”
In 2023, commercial analytics is projected to experience the highest growth in the life science analytics market by application during the forecast period. This growth is primarily driven by the increasing adoption of advanced analytics solutions by life science companies to optimize sales and marketing strategies and the growing importance of post-marketing surveillance. Key applications of analytics, such as salesforce design and optimization, return on investment (ROI) analysis for marketing ecosystems, digital marketing effectiveness evaluation, and the development of decision dashboards for the life sciences value chain, further contribute to this expansion.
“North America dominated the life science analytics market in 2023.”
The life science analytics market is analyzed across five major regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America leads the market, supported by factors such as high per-capita healthcare spending, advancements in big data, artificial intelligence (AI), and cloud computing technologies, as well as the rising demand for personalized medicine driven by genomic data and patient-centric approaches. The increasing use of analytics in R&D, sales, marketing, and supply chain optimization, coupled with a strong focus on quality control, regulatory compliance, advanced healthcare and life sciences infrastructure, and the growing adoption of digital technologies, further accelerates market growth in this region.
Key Market Players
Prominent companies in this market include 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).
Recent Developments
- In July 2024, Indegene partnered with Microsoft to accelerate the adoption of generative AI in life sciences, enhancing innovation and operational efficiency across the sector.
- In June 2024, SAS introduced the SAS Clinical Acceleration Repository, an analytics platform designed to streamline clinical trial development, expedite regulatory submissions, manage clinical research data, and integrate seamlessly with diverse data sources.
- In June 2024, IQVIA launched the One Home for Sites platform, which simplifies clinical trial management by consolidating multiple systems into a unified dashboard, significantly reducing the administrative burden on research sites.
- In March 2024, Cognizant collaborated with NVIDIA to utilize the BioNeMo generative AI platform for drug discovery, aiming to enhance productivity while reducing development costs in the life sciences sector.
- In November 2023, Wipro and AWS announced plans to launch the “Lab of the Future”, a cloud-based platform that employs generative AI and advanced analytics to optimize laboratory processes, reduce costs, and accelerate drug development.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 STAKEHOLDERS
2 MARKET OVERVIEW
2.1 INTRODUCTION
2.2 MARKET DYNAMICS
2.2.1 DRIVERS
2.2.1.1 Rising pressure to curb healthcare spending
2.2.1.2 Need for improved data standardization
2.2.1.3 Technological advancements in analytical solutions
2.2.1.4 Heterogeneity and complexity of big data in life sciences
2.2.1.5 Growing adoption of analytical solutions in clinical trials
2.2.1.6 Increasing R&D expenditure in pharmaceutical & biotechnology companies
2.2.2 RESTRAINTS
2.2.2.1 High implementation costs of advanced analytical solutions
2.2.2.2 Data privacy concerns
2.2.3 OPPORTUNITIES
2.2.3.1 Growing focus on value-based care
2.2.3.2 Use of analytics in precision & personalized medicine
2.2.3.3 Big data analytics for R&D productivity
2.2.3.4 Growing adoption of cloud-based analytics
2.2.4 CHALLENGES
2.2.4.1 Issues associated with data integration
2.2.4.2 Shortage of skilled personnel
2.2.4.3 Reluctance to adopt life science analytics solutions in emerging countries
2.3 INDUSTRY TRENDS
2.3.1 GROWING ADOPTION OF ANALYTICS IN COMMERCIAL OPERATIONS
2.3.2 LEVERAGING DATA & ANALYTICS TO ACCELERATE DRUG DISCOVERY & DEVELOPMENT
2.3.3 FOCUS ON REAL-TIME DATA ANALYTICS
2.4 ECOSYSTEM ANALYSIS
2.5 VALUE CHAIN ANALYSIS
2.6 PORTER’S FIVE FORCES ANALYSIS
2.6.1 THREAT OF NEW ENTRANTS
2.6.2 THREAT OF SUBSTITUTES
2.6.3 BARGAINING POWER OF SUPPLIERS
2.6.4 BARGAINING POWER OF BUYERS
2.6.2 INTENSITY OF COMPETITIVE RIVALRY
2.7 CASE STUDY ANALYSIS
2.7.1 NOVARTIS USES MULTI-CLOUD DATA ANALYTICS PLATFORM TO OPTIMIZE OPERATIONS AND ACCELERATE INNOVATION
2.7.2 SAS VISUAL ANALYTICS HELPS MAXIMIZE PROFITABILITY THROUGH PRESCRIPTIVE ANALYTICS & DATA VISUALIZATION
2.7.3 STREAMLINING REGULATORY MONITORING AND IMPACT ASSESSMENTS: GEDEON RICHTER’S PARTNERSHIP WITH CLARIVATE
3 COMPETITIVE LANDSCAPE
3.1 OVERVIEW
3.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
3.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN LIFE SCIENCE ANALYTICS MARKET
3.3 REVENUE ANALYSIS
3.4 MARKET SHARE ANALYSIS
3.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
3.5.1 STARS
3.5.2 EMERGING LEADERS
3.5.3 PERVASIVE PLAYERS
3.5.4 PARTICIPANTS
3.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
3.5.5.1 Company footprint
3.5.5.2 Type footprint
3.5.5.3 Application footprint
3.5.5.4 Component footprint
3.5.5.5 End-user footprint
3.5.5.6 Region footprint
3.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
3.6.1 PROGRESSIVE COMPANIES
3.6.2 RESPONSIVE COMPANIES
3.6.3 DYNAMIC COMPANIES
3.6.4 STARTING BLOCKS
3.6.5 COMPETITIVE BENCHMARKING
3.7 BRAND/SOFTWARE COMPARATIVE ANALYSIS
3.8 VALUATION & FINANCIAL METRICS
3.9 COMPETITIVE SCENARIO
3.9.1 PRODUCT LAUNCHES & APPROVALS
3.9.2 DEALS
4 COMPANY PROFILES
4.1 KEY PLAYERS
4.1.1 ORACLE
4.1.1.1 Business overview
4.1.1.2 Products & services offered
4.1.1.3 Recent developments
4.1.1.3.Deals
4.1.1.5 MnM view
4.1.1.6 Key strengths
4.1.1.7 Strategic choices
4.1.1.8 Weaknesses & competitive threats
4.1.2 MERATIVE
4.1.2.1 Business overview
4.1.2.2 Products & services offered
4.1.2.3 Deals
4.1.2.4 MnM view
4.1.2.5 Right to win
4.1.2.6 Strategic choices
4.1.2.7 Weaknesses & competitive threats
4.1.3 SAS INSTITUTE INC.
4.1.3.1 Business overview
4.1.3.2 Products & services offered
4.1.3.3 Recent developments
4.1.3.4 Product launches & approvals
4.1.3.5 Deals
4.1.3.6 MnM view
4.1.3.7 Right to win
4.1.3.8 Strategic choices
4.1.3.9 Weaknesses & competitive threats
4.1.4 ACCENTURE
4.1.4.1 Business overview
4.1.4.2 Products offered
4.1.4.3 Recent developments
4.1.4.4 Deals
4.1.4.5 MnM view
4.1.4.6 Right to win
4.1.4.7 Strategic choices
4.1.4.8 Weaknesses & competitive threats
4.1.5 IQVIA INC.
4.1.5.1 Business overview
4.1.5.2 Products & services offered
4.1.5.3 Recent developments
4.1.5.3 Product launches & approvals
4.1.5.3 Deals
4.1.5.3 Other developments
4.1.5.4 MnM view
4.1.5.4 Right to win
4.1.5.4 Strategic choices
4.1.5.4 Weaknesses & competitive threats
4.1.6 COGNIZANT
4.1.6.1 Business overview
4.1.6.2 Products & services offered
4.1.6.3 Recent developments
4.1.6.4 Product launches & approvals
4.1.6.5 Deals
4.1.7 WIPRO
4.1.7.1 Business overview
4.1.7.2 Products & services offered
4.1.7.3 Recent developments
4.1.7.4 Deals
4.1.8 VERADIGM LLC
4.1.8.1 Business overview
4.1.8.2 Products & services offered
4.1.8.3 Recent developments
4.1.8.4 Deals
4.1.9 OPTUM, INC.
4.1.9.1 Business overview
4.1.9.2 Products & services offered
4.1.9.3 Recent developments
4.1.9.4 Deals
4.1.10 MICROSOFT
4.1.10.1 Business overview
4.1.10.2 Products & services offered
4.1.10.3 Recent developments
4.1.10.4 Product & service launches & enhancements
4.1.10.5 Deals
4.1.11 MAXISIT
4.1.11.1 Business overview
4.1.11.2 Products & services offered
4.1.11.3 Recent developments
4.1.11.4 Product launches
4.1.11.5 Deals
4.1.12 EXLSERVICE HOLDINGS, INC.
4.1.12.1 Business overview
4.1.12.2 Products & services offered
4.1.12.3 Recent developments
4.1.12.4 Product launches
4.1.12.5 Deals
4.1.13 INOVALON
4.1.13.1 Business overview
4.1.13.2 Products & services offered
4.1.13.3 Recent developments
4.1.13.4 Product launches
4.1.13.5 Deals
4.1.14 CITIUSTECH INC.
4.1.14.1 Business overview
4.1.14.2 Products & services offered
4.1.14.3 Recent developments
4.1.14.4 Product launches
4.1.14.5 Deals
4.1.14.6 Expansions
4.1.15 SAAMA
4.1.15.1 Business overview
4.1.15.2 Products & services offered
4.1.15.3 Recent developments
4.1.15.4 Deals
4.1.16 AXTRIA
4.1.16.1 Business overview
4.1.16.2 Products & services offered
4.1.16.3 Recent developments
4.1.16.4 Product launches
4.1.16.5 Deals
4.1.16.6 Expansions
4.1.17 CLARIVATE
4.1.17.1 Business overview
4.1.17.2 Products & services offered
4.1.17.3 Recent developments
4.1.17.4 Product enhancements
4.1.17.5 Deals
4.1.18 THOUGHTSPHERE
4.1.18.1 Business overview
4.1.18.2 Products & services offered
4.1.18.3 Recent developments
4.1.18.4 Deals
4.1.19 THOUGHTSPOT INC.
4.1.19.1 Business overview
4.1.19.2 Products & services offered
4.1.19.3 Recent developments
4.1.19.4 Deals
4.1.19.5 Expansions
4.1.20 SALESFORCE, INC.
4.1.20.1 Business overview
4.1.20.2 Products & services offered
4.1.20.3 Recent developments
4.1.20.4 Deals
4.2 OTHER PLAYERS
4.2.1 GOOGLE LLC
4.2.2 AMAZON WEB SERVICES, INC.
4.2.3 VEEVA SYSTEMS
4.2.4 ELSEVIER
4.2.5 KOMODO HEALTH, INC.
COMPANY PROFILES
KEY PLAYERS
ORACLE
MERATIVE
SAS INSTITUTE INC.
ACCENTURE
IQVIA INC.
COGNIZANT
WIPRO
VERADIGM LLC
OPTUM, INC.
MICROSOFT
MAXISIT
EXLSERVICE HOLDINGS, INC.
INOVALON
CITIUSTECH INC.
SAAMA
AXTRIA
CLARIVATE
THOUGHTSPHERE
THOUGHTSPOT INC.
SALESFORCE, INC.
OTHER PLAYERS
GOOGLE LLC
AMAZON WEB SERVICES, INC.
VEEVA SYSTEMS
ELSEVIER
KOMODO HEALTH, INC.
- Updated version of this Quadrant
- Different Company Evaluation Quadrant
- 'Startup Only' Company Evaluation Quadrant
- Region or Country specific evaluation
- Application or Industry specific evaluation ..Read More
- Submit a Briefing Request
- Question about our published research
- Request for evaluation of your organization for specific market
- Request for re-evaluation of Company Evaluation Quadrant ..Read More
