GVR Report cover Life Science Analytics Market Size, Share & Trends Report

Life Science Analytics Market Size, Share & Trends Analysis Report By Component (Software, Services), By Type, By Application, By Delivery, By End-user, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-172-6
  • Number of Pages: 112
  • Format: Electronic (PDF)
  • Historical Range: 2014 - 2021
  • Industry: Healthcare

Report Overview

The global life science analytics market size was valued at USD 9.0 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. The life science industry is rapidly adopting analytics and relies on descriptive and reporting analysis in building databases and uses prescriptive and predictive analysis in estimating future trends and results, which is anticipated to propel the market growth. Another key driving force significantly impacting the life sciences industry is the rising influence of social media and the internet, which directly impacts patient engagement and drives the adoption of analytical solutions. Healthcare facilities and life science organizations are readily adopting analytical solutions to enhance clinical, financial, and operational outcomes and minimize healthcare expenditure, which will drive the market.

U.S. life science analytics market size, by component, 2020 - 2030 (USD Billion)

Life science organizations are rapidly implementing advanced analytics in their various functionalities such as supply chain, R&D activities, clinical trial designing, regulatory compliance, sales and marketing, and pharmacovigilance. Life science organizations and other healthcare industry stakeholders are rapidly adopting advanced data mining techniques and big data analytics to accurately analyze the population at high risk and strategize accordingly to drive the market. Healthcare financing organizations and government bodies are implementing predictive analytics in claims management and prevention of frauds, which is further boosting market growth.

The ongoing Covid-19 pandemic overburdened the existing healthcare systems and revealed the potential of advanced technologies in supporting the digitalization of healthcare. The Covid-19 pandemic directly impacted the demand for analytical solutions and the market for life science analytics witnessed a significant surge in adoption rates. Analytical solutions were being widely implemented in the management of vaccines, medical supplies, medicines, and other essential resources.

COVID-19 life science analytics market impact: an increase of 8.1% market growth between 2020 and 2021 

Pandemic Impact

Post COVID Outlook

The life science analytics market grew at a rate of 16.0% from 2019 to 2021, in two consecutive years.

The market is estimated to witness a year-on-year growth of approx. 7.5% to 8.4% in the next 5 years.

The ongoing Covid-19 pandemic significantly burdened the healthcare systems and disrupted manufacturing cycles, supply and demand channels, payment cycles, and sales and revenue cycles, which resulted in economic activity restrictions.

Organizations and other key industry players rapidly began adopting advanced analytical solutions to head towards the digitalization of healthcare. The implementation of these advanced analytical solutions allowed key players to actively engage with customers, offer workforce management solutions, and efficiently manage medical resources and supply chain management.

The Covid-19 pandemic challenged the foundation of predictive analytics and severely impacted the healthcare workforce, infrastructure, and supplies.

Organizations have begun implementing advanced analytics in improved clinical decision making, data mining techniques, and clinical trial management systems.


For instance, Moderna entered a partnership with IBM to efficiently manage their vaccination program using advanced analytics and hybrid computing. Moreover, the increasing prevalence of non-communicable diseases, coupled with the growing global geriatric population and growing demand for enhanced patient care experience, is anticipated to contribute to the growing demand for analytical solutions over the forthcoming years. Life science organizations and other healthcare industry players are using analytical solutions in advanced revenue cycle management and population health management programs.

Analytical solutions are being adopted to cater to the rising demand for personalized medication using different human genome combinations using datasets generated through eHealth, mHealth, and electronic health records (EHR). The use of analytical solutions is focused on improving the patient care experience. Furthermore, market players are devising strategies to integrate artificial intelligence-based algorithms into data analytics to efficiently mine data from health datasets, which would aid organizations in customizing different treatment approaches.

Moreover, market players are devising their mergers & acquisitions, product development, and partnership strategies to expand their business footprint and product portfolios. For instance, in April 2020, Accenture signed a definitive agreement to acquire AppsPro, an Oracle Cloud implementation service provider based in Saudi Arabia. Accenture through this acquisition would strengthen its presence and expand its capabilities across the Middle East markets.

Component Insights

In 2022, the services segment dominated the market and accounted for a revenue share of over 57.1% owing to the growing trend of outsourcing services covering planning, training, staffing, implementation, and maintenance, since life science organizations lack the adequate expertise and resources, which is anticipated to boost the segment growth over the forthcoming years. The services segment is anticipated to register the fastest growth rate of 8.1% over the forecast period. This lucrative growth is attributed to multi-services packages offered to key players by outsourcing companies.

The growing trend of digitalization of healthcare and advancements in healthcare IT infrastructure across developed and emerging economies is driving the demand for analytical solutions and related services. Growing digital literacy and favorable government initiatives are boosting the demand for analytical solutions. The growing trend of integrating artificial intelligence algorithms in analytical solutions and the adoption of big data analytics are driving the demand for services. The emergence of startups, growing technological collaborations, and favorable funding options are positively impacting the growth of the services segment.

Type Insights

In 2022, the descriptive type segment dominated the market and accounted for a revenue share of over 36.3% owing to the rising demand for quantifiable, descriptive analysis based on historic datasets to derive data-driven analysis to better understand the current business scenario. Players use data mining techniques on descriptive datasets to derive future trends and outcomes. For instance, in December 2020, Accenture partnered with Trifacta to design efficient, advanced data mining techniques to support drug discovery procedures.

The predictive analysis is anticipated to register the fastest growth rate of 9.0% over the forthcoming years owing to the rapidly growing adoption rate of advanced analytical solutions in predicting future trends and supporting stakeholders in devising appropriate strategies and tactics to enhance market performance. For instance, in March 2021, Cleveland Clinic entered a 10-year partnership contract with IBM to introduce the Discovery Accelerator initiative to focus on discoveries in the healthcare and life sciences industries with the support of artificial intelligence, big data analytics, quantum computing, and cloud computing.

Application Insights

In 2022, the sales and marketing segment dominated the market and accounted for a revenue share of over 33.5% owing to the growing adoption rate of analytical solutions in sales and marketing functionalities of organizations to boost sales productivity and design effective and impactful marketing campaigns. For instance, in February 2021, Nemours Children’s Health System received analytical support from Oracle to adopt cloud business applications to be deployed in various business departments of the organization.

The research and development is anticipated to register the fastest growth rate of 9.8% over the forecast period owing to the rising adoption of analytical solutions in drug discovery and development and clinical trial management systems. Another key factor positively impacting the growth of the research and development segment is the growing pipeline of life science organizations. For instance, in January 2021, Oracle and Cognizant entered a technological collaboration to develop solutions to accelerate clinical trial studies using solutions based on a combination of Oracle’s Health Science solutions and Cognizant’s Shared Investigator Platform.

Delivery Insights

In 2022, the on-demand delivery segment dominated the market for life science analytics and accounted for a revenue share of over 50.6%. The growth of the segment can be attributed to the increased access from remote locations with minimized costs and reduced maintenance. Additionally, the on-demand is anticipated to register the fastest growth rate of 8.5% during the forecast period.

This lucrative growth of on-demand delivery is attributed to the rising adoption rate of web-hosted and cloud-deployed analytical applications and solutions with advancements in internet connectivity, which is directly impacting the accessibility of these analytical solutions from remotest locations. On-demand delivered analytical solutions and applications save infrastructure space and allow data retrieval as per user’s needs. The benefits associated with on-demand delivered analytical solutions are storage capacity, ease of access, and enhanced security.

End-user Insights

In 2022, the pharmaceutical segment dominated the market and accounted for a revenue share of over 46.7% owing to the growing adoption of analytical solutions in efficient resource management, drug discovery and development, clinical trial designing and managing processes, and enhanced drug utilization. For instance, in November 2020, SAS Institute, Inc.’s SAS Life Science Analytics Framework was used in supporting Covid-19 vaccine clinical trial management by transforming data into real-time information to derive data-enriched insights.

Global life science analytics market share, by end-user, 2021 (%)

Biotechnology companies are anticipated to register the fastest growth rate of 8.7% over the forthcoming years. This lucrative growth rate of biotechnology companies is attributable to the rising adoption of analytical solutions in genome sequencing and analysis. In addition, the implementation of personalized data analytical solutions is boosting the development and growth of the segment. For instance, in May 2021 Wipro and TranscellOncologies partnered to transform vaccine safety assessment using Transcell’s advanced stem cell technology and Wipro Holmes augmented intelligence platform.

Regional Insights

In 2022, North America dominated the market and accounted for a revenue share of over 50.6% owing to the growing digital literacy, advancements in healthcare IT infrastructure, the emergence of startups, the presence of key market players, growing geriatric population, the rising incidence rate of non-communicable diseases, growing demand for value-based care, and readiness to adopt analytical solutions. North American market players are constantly focusing on product development and partnership strategies to expand their business offerings in North America.

Life Science Analytics Market Trends by Region

Asia Pacific is anticipated to register the fastest growth rate of 10.3% over the forecast period and this lucrative growth is attributed to the growing healthcare IT expenditures, developing healthcare infrastructure, the entry of key market players, and growing digital literacy. Moreover, economic development and the availability of low-cost and high-skilled personnel are expected to drive the market. Key players are devising market entry strategies to expand their business presence in Asia Pacific.

Key Companies & Market Share Insights

Some of the key participants in the market are developing advanced analytical solutions and systems. The companies are focusing on devising innovative product development strategies to expand their product offerings and revising their partnerships and collaborations across the market to expand their business footprint and cater to the growing demand for analytical solutions.

Life science organizations are implementing analytical solutions in delivering personalized medication and value-based care and combating the Covid-19 pandemic. For instance, in April 2021, IQVIA Connected Intelligence was launched for customers to use analytical solutions in discovering data-driven insights and support effective decision making. IQVIA integrated its expertise in healthcare analytics with innovative technologies to deliver Connected Intelligence solutions. Some prominent players in the global life science analytics market include:

  • Oracle


  • SAS Institute Inc.

  • Cognizant

  • IBM

  • Accenture

  • Take Solutions Limited

  • Wipro Limited

Life Science Analytics Market Report Scope

Report Attribute


Market size value in 2023

USD 9.8 billion

Revenue forecast in 2030

USD 16.3 billion

Growth Rate

CAGR of 7.6% from 2023 to 2030

Base year for estimation


Historical data

2014 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, type, application, delivery, end-user, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Spain; Italy; Denmark; Sweden;Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

Key companies profiled

Accenture; Cognizant; IBM; Wipro Limited; Take Solutions Limited; IQVIA; Oracle; SAS Institute, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Life Science Analytics Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global life science analytics market report on the basis of component, type, application, delivery, end-user, and region:

  • Component Outlook (Revenue, USD Million, 2018 - 2030)

    • Software

    • Services

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Reporting

    • Descriptive

    • Predictive

    • Prescriptive

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Research and Development

    • Sales and Marketing Support

    • Regulatory Compliance

    • Supply Chain Analytics

    • Pharmacovigilance

  • Delivery Outlook (Revenue, USD Million, 2018 - 2030)

    • On-demand

    • On-premises

  • End User Outlook (Revenue, USD Million, 2018 - 2030)
    • Medical Device

    • Pharmaceutical

    • Biotechnology

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 – 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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