MEA Life Science Analytics Market

MEA Life Science Analytics Market Size (2023 to 2028)

The size of the life science analytics market in the MEA region is forecasted to register a prominent CAGR during the forecast period.

Owing to the increasing support from the governments of MEA countries to develop healthcare IT infrastructure, the MEA life science analytics market is expected to grow at a healthy pace. In addition, the growing healthcare expenditure and increasing prevalence rate of chronic diseases such as diabetes, cancer, neuromuscular disorders, and others are promoting the growth of the MEA life science analytics market.

Factors such as the increasing number of surgeries and rising demand for improving patient outcomes are expected to promote the market's growth rate during the forecast period. Healthcare spending is increasing rapidly with each passing year. Over the years, analytics have increasingly developed personalized medicine, primarily for cancer and diabetes. Several organizations receive grants to create customized medicine with rapid technological advancements and up-to-date information. In addition, the growing demand for data standardization and increased adoption of analytics for sales and marketing applications are predicted to favor the MEA life science analytics market.

The rapid adoption of analytics in clinical trials drives the market's growth. According to a survey led by ERT, more than 80% of organizations are integrating virtual clinical trial technology, which will help reduce healthcare costs and narrow clinical decisions over time. This, in turn, should stimulate the MEA life science analytics market during the forecast period.

However, factors such as high implementation costs, data security and privacy concerns, budget constraints for pharmaceutical companies, and CROs are expected to hinder the growth rate of the MEA life science analytics market.

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

By Analytics Type:

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics

By Component:

• Software
• Services

By Delivery Mode:

• On-demand
• On-premises

By Application:

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

By End-User:

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

By Country:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

Compared to the other regions in the global market, the life science analytics market in the MEA region is growing slowly.

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 some of the notable companies in the MEA life science analytics market.