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Globe and Mail
04-06-2025
- Business
- Globe and Mail
Life Science Analytics Market worth $68.81 billion by 2030 11.4% CAGR
"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)" Browse 463 market data Tables and 53 Figures spread through 404 Pages and in-depth TOC on "Life Science Analytics Market by Type (Descriptive, Prescriptive, Predictive), by Service (Analytics), Application (Drug Discovery, Trials, RWE, Access, Sales & Marketing, Drug Safety), End User (Pharma, Medical Device) & Region - Global Forecast to 2030 The global Life Science Analytics Market , valued at US$35.69 billion in 2024, is forecasted to grow at a robust CAGR of 11.4%, reaching US$40.03 billion in 2025 and an impressive US$68.81 billion by 2030. The standardization of diverse datasets from sources such as clinical trials, electronic health records (EHRs), genomics, and real-world evidence is essential for the efficient exchange of information across various platforms and geographical regions. This standardization enhances multi-site clinical trials and cross-border research collaborations. Additionally, emerging technologies like artificial intelligence (AI), quantum computing, and cognitive computing play a vital role in transforming large volumes of raw data into actionable insights. These technologies help simplify reports and create interactive dashboards. Furthermore, the increasing adoption of analytics in pre-clinical trials, drug discovery, and clinical trials, particularly for applications such as patient recruitment and site identification, helps to reduce the workload for researchers and investigators. These factors contribute significantly to the growing adoption of analytics across the life sciences industry. Browse in-depth TOC on " Life Science Analytics Market" 100 - Tables 50 - Figures 500 - Pages By Based on type, the life science analytics services market is categorized into two main types: managed services and professional services. In 2024, the managed services segment held the largest share of the life science analytics market. This significant share is largely due to the increasing demand for advanced insights, the need for cost-effective drug development, technological advancements in the industry, and the necessity for ongoing support in strategic decision-making. These factors make outsourcing analytics and consulting more attractive for life science companies. Leading companies in the field offer consulting services that leverage data and analytics to evaluate opportunities, design analytics strategies, and implement appropriate technology solutions. For instance, in May 2023, SAS Institute (US) partnered with HTEC (US) to deliver strategic analytics consulting services across various sectors, including life sciences and healthcare. By Based on applications, The life science analytics market is divided into several applications, including research & development, commercial analytics, regulatory compliance, manufacturing and supply chain optimization, and safety. In 2024, the research & development segment held the largest share of this market. This significant share is mainly due to its capacity to accelerate drug discovery, optimize clinical trials, and improve research accuracy through advanced data analysis and AI-driven insights. Additionally, factors such as increasing R&D expenditure in the pharmaceutical and biopharmaceutical sectors, a rise in patent expirations and declining drug pipelines, and a growing focus on personalized medicine and precision therapeutics are further driving growth in this segment. By geography, the life science analytics market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is expected to experience significant growth, with a noticeable annual growth rate during the forecast period. Key factors driving the expansion of life science analytics solutions in this region include a gradual shift towards adopting advanced technologies such as automation, artificial intelligence (AI), and machine learning (ML). Additionally, rising investments are attracting new market players, and the presence of leading educational institutions and research centers in Asia Pacific is fostering scientific innovation and technological advancement. Furthermore, increased direct investments from pharmaceutical and biotechnology companies in Europe and North America are anticipated to boost the adoption of life science analytics solutions in Asia. 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) are the major players in this market. These companies mainly focus on strategies such as acquisitions, collaborations, partnerships, expansion, and product launches and updates to remain competitive and further increase their share in the market. ORACLE (US): Oracle (US) is a leading company in life science analytics worldwide. The company offers analytics software and services for various applications, including research & development, commercialization, and more. Oracle is committed to continuously updating its products to meet customer expectations. Additionally, the company invests in expanding its solutions through partnerships and collaborations, ensuring tailored solutions for its users. In March 2025, Oracle partnered with Huntsville Hospital Health System (US) to standardize its Oracle Health Foundation electronic health record system across all facilities. This collaboration aims to provide consistent, high-quality care and a unified experience for both patients and providers as they move between different locations. With a broad customer base and a significant geographic presence, Oracle is a critical player in various IT software, hardware, and service markets, including life science analytics. MERATIVE (US): Merative (US) is another leading player in the life science analytics market. The company offers a comprehensive suite of informatics products and services tailored for life science analytics. By leveraging advanced technologies such as AI and ML, Merative enhances the accuracy and efficiency of evidence analysis. Its strong brand recognition and extensive product portfolio have significantly contributed to its success. Merative serves various sectors, including life science systems, clinical trial sponsors, and the medical device manufacturing industry. Additionally, the company has established offices across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. SAS INSTITUTE INC. (US) SAS Institute Inc. (US) is a company that specializes in analytics software and services. It offers a wide range of solutions, including advanced analytics, business intelligence, cloud analytics, customer intelligence, data operations, data management, decision management, fraud and security intelligence, in-memory analytics, performance management, risk management, and supply chain management. These solutions enable organizations to access, manage, analyze, and report on data to support informed decision-making. SAS Institute serves various industries, including communications, education, financial services, government, health insurance, healthcare, hospitality, insurance, life sciences, manufacturing, media, oil and gas, retail, travel and transportation, and utilities. Through its Life Sciences industry segment, the company also provides specialized analytics solutions for the life sciences sector. By leveraging AI and analytics driven by fast and relevant data, SAS aims to propel innovation in health and life sciences. The company supports customers in 146 countries across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. More than 82,000 business, government, and university sites utilize SAS OnDemand for Academics. For more information, Inquire Now!
Axios
09-05-2025
- Business
- Axios
SAS strikes first partnership with fellow Cary tech firm Epic Games
Data analytics company SAS Institute is now working with the video game maker Epic Games to make "digital twins" for its customers. Why it matters: It's the first time that Cary's two largest tech firms, led by the state's two richest residents, have ever publicly partnered together on a project. Driving the news: The news came at SAS's annual innovation conference, which has placed a heavy emphasis on the addition of artificial intelligence tools as the company ramps up for a potential initial public offering. State of play: Digital twins are virtual recreations of physical objects that SAS said its customers can use to glean real-world data and forecast how new systems could operate. The twins are made using Epic's Unreal Engine, a powerful visualization tool that has been used in everything from its "Fortnite" video game to television shows like "The Mandalorian." Epic Games uses an app it created called RealityScan to take photos of a real-world space and then import into its Unreal Engine, transferring a one-to-one 3D replica inside the visualization engine. SAS's analytics tools can then hook up to the engine and take data from whatever simulation its customer wishes to run. Zoom in: So far, SAS is using the tool with its manufacturing customer Georgia-Pacific at its paper mill in Georgia.
Axios
01-05-2025
- Business
- Axios
SAS names new head of its efforts to go public
SAS Institute, the Cary-based data and analytics company, has named a veteran of the company to be its new chief operating officer and guide its preparations to go public and sell shares of the company. Why it matters: SAS, founded in 1976, is one of the Triangle's largest technology companies, with around 4,000 employees based out of its Cary headquarters. The company's founder and CEO Jim Goodnight, 82 and the state's richest resident, has long kept the company privately held, but in 2021 he announced the goal of taking the company public. Driving the news: On Thursday, the company named Gavin Day, a 25-year veteran, as its new COO, overseeing the company's global sales and getting it ready for the financial rigors of being a publicly-traded company. He is the first chief operating officer to be named at the company since the departure of former COO Oliver Schabenberger, who was long considered an heir apparent to Goodnight but left the company in 2020. State of play: It remains unclear when SAS plans to go public — an event that could potentially give the company's employees equity. The company originally aimed for 2024, before saying 2025 was a more realistic target. But the uncertainty that exists in the market right now could delay those plans further. What they're saying: "Timing is something that we have the luxury of," Day, a former executive vice president at SAS, told reporters. "We are a no debt company. We do not need capital, we do not have to pay back investors, so we absolutely have the patience to wait ... [for] when the time is right." Day said that he has already been working internally to get SAS operating as a public company would, which comes with different reporting requirements and many different kinds of disclosures. He said that options for giving employees equity in an initial public offering have been presented to Goodnight. "When the time comes, Dr. Goodnight will talk to the employees and to the public and to the media about that," he said. Goodnight also has a succession plan in place, but "he will be the one to communicate that when the time is appropriate," he said in response to a question about whether the new role makes him the No. 2 at the company. Zoom in: Day joined SAS in 2000, when it acquired a startup he worked at called DataFlux.
