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Life Science Analytics Market to Grow In Near Future And With the High CAGR Value - Scalar Market Research
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Life sciences sector growth is expected to be fuelled by increasing demand from an aging population and the prevalence of chronic and communicable diseases. Life sciences companies have always operated in a world of uncertainty. Issues around cost and pricing, clinical and operational innovation, customer and consumer engagement, and regulatory compliance have existed for decades. In addition, new and evolving technology advancements – more sophisticated electronic medical records (EMRs), wearable health care devices, next-generation sequencing, breakthroughs in genomics, immunotherapy, and gene therapy, and use of real-world evidence (RWE) and data analytics – have primed the life sciences sector for disruption.
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KEY PREMIUM INDUSTRY INSIGHTS
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, and 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.
However, lack of skilled professionals and financial constraints may hinder the growth of this market during the forecast period.
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KEY MARKET PLAYERS
Key players in the life science analytics market include:
1.SAS Institute Inc.
2.IBM Corporation
3.Oracle Corporation
4.Quintiles, Inc.
5.Accenture
6.Cognizant
7.Maxisit
8.Scio Health Analytics
9. Take Solutions
10.Wipro Limited
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Learning Objective
• To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Analytics as a service Market.
• To provide insights about factors affecting the market growth.
• To Analyze the Analytics as a service Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
• To provide historical and forecast revenue of the…
