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Life Science Analytics Market Size Worth USD 8,800 Million by 2030 at 8.75% CAGR – Report by Market Research Future (MRFR)

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New York, USA, Nov. 16, 2022 (GLOBE NEWSWIRE) — Life Science Analytics Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Life Science Analytics Market Information by Type of Analytics, Application, Component, Deployment Model, and Region – Forecast till 2030”, the market is projected to reach USD 8,800 Million by 2030 at 8.75% CAGR during the forecast period 2022-2030.

Life Science Analytics Market Scope:

The standardization of clinical trials and the optimization of drug discovery are both made possible by life science analytics. In the years to come, rising demand for analytics in clinical trials increased pressure to reduce healthcare costs, and a wide range of sales & marketing applications will result in sizable revenues. Bright prospects for the global market are additionally guaranteed by the significant burden of numerous chronic conditions, the growing demand for better patient outcomes, and the development of big data within the life sciences sector.

Advanced analytics are being quickly adopted by life science organizations for use in a variety of functional areas, including supply chain, R&D projects, clinical trial design, regulatory compliance, sales and marketing, and pharmacovigilance. Big data analytics and advanced data mining techniques are being rapidly embraced by life science companies and other stakeholders in the healthcare sector in order to precisely study the population at high risk and develop market-driving strategies. Predictive analytics are being used by government and healthcare funding groups to monitor claims and avoid fraud, which is further fostering industry expansion.

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Report Scope:

Report Attribute Details
Market Size in 2030 USD 8,800 Million
CAGR 8.75%
Base Year 2021
Forecast Period 2022-2030
Historical Data 2020
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Type of Analytics, Component, Deployment Model, Application and End User
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Growing adoption of analytics solutions in clinical trials
Rising usage of large datasets in the life sciences sector

Life Science Analytics Market Competitive Landscape:

Some of the major contenders in the worldwide market include

  • Allscripts Healthcare, LLC (US)
  • Cerner Corporation (US)
  • CitiusTech Inc. (US)
  • Health Catalyst (US)
  • Inovalon (US)
  • McKesson Corporation (US)
  • Saama Technologies, Inc. (US)
  • Optum, Inc. (US)
  • SCIOInspire, Corp. (US)
  • SAS Institute Inc. (US)
  • IBM (US)
  • Oracle (US)
  • IQVIA (US)

Major corporations are concentrating on expanding their global reach and introducing newer, more sophisticated solutions through a variety of techniques, including product launches, collaborations, and partnerships. Additionally, by utilizing these tactics, end users can provide healthcare that is value-based and address COVID-19, improving their position in the market.

November 2022

One of the top third-party logistics (3PL) companies in North America, Kenco Group, has formally formed a Life Sciences Division, positioning the business as a significant supply chain logistics player for the healthcare industry. The present offerings from Kenco, which already include distribution, transportation, material handling, and supply chain solutions, are further expanded by this new business. In order to improve patient experiences, makers of medical devices, eyecare products, and pharmaceuticals will continue to get assistance from Kenco’s Life Sciences Division.

Life Science Analytics Market Dynamics:

Top Drivers:

The use of analytics, mostly for database construction, is quickly gaining traction in the life sciences sector. Solutions for prescriptive and predictive analytics are used to analyse future trends and results, and their rising demand is sure to boost the market’s growth potential in the years to come. The healthcare industry has seen a significant impact from social media and increased internet usage, which has boosted awareness and driven source data. This improves patient participation, and as people become more aware of these advantages, it is good for the worldwide market. Over the forecast period, the market for analytical solutions should benefit greatly from the healthcare sector’s constant pressure to reduce overall healthcare spending and enhance patient outcomes.

Life science organizations apply advanced analytics in a range of fields, including supply chain, legal compliance, R&D, clinical trials, sales and marketing, and pharmacovigilance. The market demand is further boosted by the growing usage of big data analytics and data mining techniques to identify high-risk target populations and develop the necessary strategies.

Market Restraints:

Small- and medium-sized biotech and pharmaceutical enterprises, as well as CROs with limited resources, make less use of analytics owing to high prices. This is a frequent occurrence, particularly in poor nations where funding for healthcare IT systems is constrained.

Browse In-depth Market Research Report (90 Pages) on Life Science Analytics: https://www.marketresearchfuture.com/reports/life-science-analytics-market-8570

COVID 19 Analysis

As the number of cases rises, the Covid-19 outbreak has placed a lot of burdens on the healthcare sector. In turn, this has increased the need for analytics in the life science industry. Following the pandemic, technological advancements have exploded, assisting the healthcare sector in developing cutting-edge solutions to deal with physical labour and financial constraints. For instance, IBM and Moderna are heavily utilising blockchain technologies, artificial intelligence, and cloud computing to simplify COVID-19 vaccine management.

Life Science Analytics Market Segmentation

By Type

Descriptive, prescriptive, and predictive analytics are various subtypes of life science analytics.

By Application

Pharmacovigilance, R&D, sales & marketing, supply chain optimization, and regulatory compliance are among the applications of life science analytics.

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By Component

Services, hardware, and software are the components that are covered in the report.

By Deployment Model

On-premise and cloud deployment models are both supported by the global market. On-premise software holds the top spot because it is regarded as being more user-friendly than its rival.

By End-User

The end-users included include pharmaceutical, hospital and clinic chains, biotechnology and medical device firms, and more. In 2018, the hospitals and clinics segment took the largest proportion.

Life Science Analytics Market Regional Insights

The United States has established its dominance in the global market thanks to significant healthcare spending and the highly successful healthcare IT industry. The regional market is further strengthened by the escalating cases of non-communicable diseases, the increase in the senior population, and the rising use of advanced analytics. In addition, the American market gains from the nation’s strong economy and access to infrastructure and medical facilities that are state-of-the-art.

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Between 2022 and 2030, Asia Pacific is predicted to grow at the quickest rate, partly because of the rapidly increasing life sciences industry and the rising number of healthcare IT companies. The market for life science analytics may benefit from the high burden of chronic diseases, the growing usage of modern technology, and the increased focus on corporate expansion by players in emerging nations.

Discover more research Reports on Healthcare Industry, by Market Research Future:

Life Science & Analytical Instruments Market: Information by Type (Spectroscopy, Chromatography, PCR, Microscopy, Flow Cytometry, Next Generation Sequencing, Centrifuges, Electrophoresis, Cell Counting, and others), By Application (Research Applications, Clinical, and Diagnostic Applications and Others), By End User (Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies and others) and by Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) – Forecast till 2030

Global Data Analysis, Storage & Management Market in Life Sciences: Information by Product & Service (Data Analysis Software & Workbenches, Storage, Management, & Cloud Computing Solution; Data Analysis Services), Application (Next-Generation Sequencing, Microscopy, Chromatography, Flow Cytometry, Spectroscopy), End User (Pharmaceutical & Biotechnology Companies, Research Centers, Academic & Government Institutions, Hospitals & Clinics), and by Region (Americas, Europe, Asia-Pacific, and Middle East & Africa)—Forecast till 2027

Bioanalytical Testing Services Market Research Report: By Molecule Type (Small Molecule, Large Molecule), By Test Type (Pharmacokinetics, Pharmacodynamics, Bioanalysis, Bioequivalence, Others) – Forecast to 2030

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

BeeHero Reveals Groundbreaking Data-Backed Insights from the Latest Almond Pollination Seasons

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On World Bee Day, BeeHero shares findings from the 2022-2024 almond pollination seasons that showcase its ability to optimize and boost pollination efficacy while decreasing operational costs, by empowering both beekeepers and growers with innovative, data-driven solutions
FRESNO, Calif., May 20, 2024 /PRNewswire/ — BeeHero, the pioneer of precision pollination, today unveiled groundbreaking data-driven bee activity insights from the 2022-2024 almond pollination seasons. The company has revealed bee flight hour and bee frame insights via its cutting-edge sensor technology and AI-powered analysis that contribute to improved pollination practices. In recent months, BeeHero cemented its position as the world’s leading provider of precision pollination as it surpassed the threshold of 300K hives under management, from which the company records more than 25 million hive samples daily. The new data is being released on World Bee Day, the date designated by the UN to raise awareness of the importance of these vital pollinators, the numerous threats they face, and how they contribute to sustainable agriculture and development.

Analysis of the previous almond seasons revealed that BeeHero-managed hives demonstrated a higher degree of effectiveness, with an average of nearly 50% more bee-frames per hive compared to the industry standard. This superior performance translates into stronger colonies and enables BeeHero to optimize hive placement and reduce the number of hives required per acre in almond orchards, resulting in enhanced pollination at a lower input-to-output ratio for growers.
BeeHero also discovered a significant difference in the average daily bee flight hours (BFH) measured by its sensors as compared to the traditional bee flight hour calculations. While conventional bee flight hour methods (based on industry standard hives) recorded a total of 2.7 daily BFH over the 2022 and 2023 almond pollination seasons, BeeHero was able to more accurately measure almost double this amount, at 5.9 daily BFH, demonstrating that bees will indeed fly in suboptimal conditions. This revelation underscores the higher accuracy of BeeHero’s methodology over traditional calculations, which underestimate the actual flying time of bees due to a reliance on and proximity to local national weather stations, affecting industry crop yield predictions. Both this finding and BeeHero’s ability to provide stronger hives have widespread implications for not only almonds, but other seed, row, and specialty crops as well.
“We are excited to be consistently achieving new, pivotal milestones on our mission to transform pollination efficiency through transparency and data-driven precision,” explained Omer Davidi, CEO and Co-Founder of BeeHero. “Our findings showcase the critical nature of robust data in optimizing pollination activities, and our unique ability to provide previously unknowable insights – and as a result, stronger hives and more accurate yield predictions – to industry stakeholders. We look forward to continuing to reshape industry paradigms, empowering growers and beekeepers to better foster bee welfare and bolstering productivity for greater profitability.”
During the 2024 almond pollination season, BeeHero utilized various proprietary tools to extract its unparalleled dataset on bee behavior and pollination efficacy. The company introduced a Deployment Planning Tool, enabling beekeepers to visualize their almond orchards and strategically plan daily tasks for maximum efficiency. Additionally, its Hive Tracker offered growers real-time insights into hive shipment and placement, while BeeHero’s new mobile growers platform provided growers with seamless access to hives’ frame counts and other critical information and updates.
Following the culmination of the pollination season, BeeHero is providing personalized precision pollination reports for growers with insights into bee flight hours, bee frames, and how BeeHero’s data and technology have directly impacted their season. In alignment with this mission, a recent study conducted by BeeHero and the USDA explored how bee colony strength and hive entrance orientation affected honey bee foraging behavior, offering actionable insights to improve pollination efficacy. The research underscores the pivotal role of BeeHero’s proprietary technology in gathering data to drive operational efficiency, reduce costs, increase yields, enhance bee welfare, and promote sustainable agriculture.
“The findings from these past pollination seasons – both in our research and in the field – highlight the profound potential of our innovative technology to revolutionize pollination practices, fostering a sustainable ecosystem that benefits both beekeepers and growers,” said Yuval Regev, CTO and Co-Founder of BeeHero. “By illuminating intricate bee behavior patterns and ecosystem dynamics, we are pioneering a new frontier in pollination science and technology.”
Earlier this month, BeeHero was recognized as an Honorable Mention by Fast Company’s 2024 World Changing Ideas Awards in the agriculture category. The award honors products and companies designed to make the world safer, cleaner, more sustainable, and more equitable. This is the latest in a slew of prestigious awards and recognitions for BeeHero, which include Cleantech Group’s 2024 Global Cleantech 100 list, the 2024 Founder’s Games for social impact, CNBC’s 2023 Disruptor 50 list, and The New York Times’ 2022 Good Tech Awards.
About BeeHero
BeeHero is a data-driven technology company redefining pollination in commercial agriculture. Using advanced data analytics, artificial intelligence, and low-cost IoT sensors, BeeHero brings transparency and efficiency to the complex logistics of commercial crop pollination. Its Precision Pollination as a Service (PPaaS) results in better crop yields and increased profits for commercial crop growers and agribusiness stakeholders. Its precision pollination solution is rapidly evolving into the backbone of the data-driven approach needed to build a resilient and future-proof sustainable agriculture ecosystem. The company is headquartered in Fresno, California, with offices in Palo Alto, California and R&D in Tel Aviv, Israel.
Media Contact
Allison GreyHeadline [email protected]  US: +1 323 283 8176UK: +44 203 807 4482IL: +972 53 820 2606

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Artificial Intelligence

Dubai World Trade Centre Drives Impact as Economic Output Surges to US$4.98 Billion in 2023, up 40% YoY

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DUBAI, UAE, May 20, 2024 /PRNewswire/ — Dubai World Trade Centre (DWTC), a global leader in the events and exhibitions industry, has once again demonstrated its significant impact on Dubai’s economy in 2023, welcoming 2.47 million participants and hosting 301 events, 76 of which, were large-scale events that attracted 1.54 million attendees, with 46% from overseas.

DWTC’s 2023 Economic Impact Assessment (EIA) Report, based on its 76 large-scale events (2000 or more attendees) revealed an impressive surge in the total economic output, reaching US$4.98 billion, marking an incredible 40% YoY increase, with high returns for adjacent industries such as Travel, Accommodation and Retail, connected to the Meetings Incentives Conferences and Exhibitions (MICE) ecosystem.
DWTC’s large-scale events generated a substantial US$2.87 billion Gross Value Added (GVA) to Dubai’s GDP, retaining an impressive 58% of the total economic output locally. International participation soared by 53%, with overseas visitors driving 6.2 times more contribution than domestic counterparts.
Events hosted at DWTC supported 69,281 jobs, generating US$915 million in disposable household income for the city’s residents. The substantial economic impact of these events extends beyond direct revenue generation, fostering socio-economic development and contributing to Dubai’s status as a leading global business hub.
His Excellency Helal Saeed Almarri, Director General of DWTC Authority, said: “Aligned with Dubai’s Economic Agenda D33, we continue to spearhead efforts in sector diversification, reinforcing the city’s stature as a leading global business hub. The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Assessment Report’ demonstrate that Dubai’s MICE sector, driven by DWTC, remains a vital pillar of financial resilience and growth underscoring our accelerated strides towards sustainable socio-economic development. The increase in international participation, along with the significant economic impact generated across diverse sectors such as travel, accommodation and retail, highlights the city’s steadfast commitment to propelling business tourism.”
The venue’s formidable events portfolio strategically aligned with Dubai’s economic priorities, showcasing Healthcare, Medical, and Scientific; Information Technology (IT); and Food, Hotel, and Catering as the top contributors. These leading sectors collectively accounted for 59% (US$1.71 billion) of the GVA to Dubai’s economy, and 49% (747,468) of the total large-scale event visitation.
Adjacent sectors, including hotels, air travel, and local transportation experienced a significant boost in economic activity. The direct revenue generated through expenditure was nearly US$2.94 billion.
Photo – https://mma.prnewswire.com/media/2416961/Dubai_World_Trade_Centre_2023_Infographic.jpg
 
 

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Aramco signs agreement with Pasqal to deploy first quantum computer in the Kingdom of Saudi Arabia

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DHAHRAN, Saudi Arabia, May 20, 2024 /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom of Saudi Arabia.

The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025.
Ahmad Al-Khowaiter, Aramco EVP of Technology & Innovation, said: “Aramco is delighted to partner with Pasqal to bring cutting-edge, high-performance quantum computing capabilities to the Kingdom. In a rapidly evolving digital landscape, we believe it is crucial to seize opportunities presented by new, impactful technologies and we aim to pioneer the use of quantum computing in the energy sector. Our agreement with Pasqal allows us to harness the expertise of a leading player in this field, as we continue to build state-of-the-art solutions into our business. It is also further evidence of our contribution to the growth of the digital economy in Saudi Arabia.”
Georges-Olivier Reymond, Pasqal CEO & Co-founder, said: “The era of quantum computing is here. No longer confined to theory, it’s transitioning to real-world applications, empowering organisations to solve previously intractable problems at scale. Since launching Pasqal in 2019, we have directed our efforts towards concrete quantum computing algorithms immediately applicable to customer use cases. Through this agreement, we’ll be at the forefront of accelerating commercial adoption of this transformative technology in Saudi Arabia.  This isn’t just any quantum computer; it will be the most powerful tool deployed for industrial usages, unlocking a new era of innovation for businesses and society.”
The quantum computer will initially use an approach called “analog mode.” Within the following year, the system will be upgraded to a more advanced hybrid “analog-digital mode,” which is more powerful and able to solve even more complex problems.
Pasqal and Aramco intend to leverage the quantum computer to identify new use cases, and have an ambitious vision to establish a powerhouse for quantum research within Saudi Arabia. This would involve leading academic institutions with the aim of fostering breakthroughs in quantum algorithm development — a crucial step for unlocking the true potential of quantum computing.
The agreement also accelerates Pasqal’s activity in Saudi Arabia, having established an office in the Kingdom in 2023, and follows the signing of a Memorandum of Understanding between the companies in 2022 to collaborate on quantum computing capabilities and applications in the energy sector. In 2023, Aramco’s Wa’ed Ventures also participated in Pasqal’s Series B fundraising round.
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com 
About PASQAL
Pasqal is a leading Quantum Computing company that builds quantum processors from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. Pasqal was founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect – Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys and Dr. Thierry Lahaye. Pasqal has secured more than €140 million in financing to date. To learn more about Pasqal, visit www.pasqal.com.
Disclaimer
The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco’s ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco’s growth; the management of the Company’s subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco’s exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Stock Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Stock Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.
Aramco Contact Information:
  @aramco

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