Europe Life Science Analytics Market

Europe Life Science Analytics Market Size (2024 to 2029)

The size of the European life science analytics market is forecasted to be growing at a CAGR of 9.2% between 2024 to 2029.

Y-O-Y rise in the number of pharmaceutical companies, growing R&D activities, and increasing demand for personalized medicines are expected to boost the European Life science analytics market. The demand for innovative analytics in various applications is significantly growing, which is expected to promote the market's growth rate. The rising adoption of AI and big data in the healthcare sector, the growing requirement for advancing data standardization, and the rising adoption of analytical solutions in clinical trials and technological advancements are further expected to accelerate the market growth.

Analytics plays a crucial role in the development of healthcare, microbiology, and others. The growing number of life science applications in the pharmaceutical sector, especially in clinical trials, drug discovery, and risk management, is further expected to drive the market. Life science analytics aid in limiting healthcare costs, decreasing hospitalization and reducing required testing. Growing investments by the key market participants on the R&D applications to better the analytical solutions is a plus to the market growth.

High investment support required to develop and implement life science analytics is one of the significant factors hampering the market's growth rate. The market participants may face challenges with the research and development and regulatory changes.

This research report on the European life science analytics market has been segmented and sub-segmented based on the following categories.

Europe Life Science Analytics Market Analysis By Analytics Type

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics

Europe Life Science Analytics Market Analysis By Component

• Software
• Services

Europe Life Science Analytics Market Analysis By Delivery Mode

• On-demand
• On-premises

Europe Life Science Analytics Market Analysis By Application

• Clinical and Preclinical Trials
• Research and Development
• Regulatory Compliance
• Sales and Marketing
• Supply Chain Management
• Pharmacovigilance

Europe Life Science Analytics Market Analysis By End-User

• Pharmaceutical and Biotechnology Companies
• Medical Device Companies
• Biomedical Research Centers
• Third-party Administrators (TPA)

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the European life sciences analytics market accounted for a substantial market share in the global market in 2022 and is predicted to grow at a healthy rate during the forecast period.

In the European market, the German life science analytics market is expected to be a lucrative regional market during the forecast period. Social advancements such as census and technological advancements such as digitization are favoring the German market.

The rising adoption of IoT along with cloud computing is expected to support the life science analytics market. With the growing acceptance of technological advancements, the life science industry has reached new heights, which is a plus to the life science analytics market. The rising focus of key market participants is estimated to boost the market.

The life science analytics markets in the UK and France are projected to have notable growth during the forecast period.

KEY MARKET PLAYERS

SAS Institute Inc., IBM Corporation, Oracle Corporation, Quintiles, Inc., Accenture, Cognizant, Wipro Limited, TAKE Solutions, MaxisIT, Inc., and SCIO Health Analytics are a few of the companies playing a leading role in the European life science analytics market.