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Global Life Sciences Analytics Market to Surpass US$ 17,334.3 Million by 2030, Says Coherent Market Insights (CMI)

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Burlingame, Jan. 23, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global life sciences analytics market is estimated to be valued at US$ 9,324.2 million in 2022 and is expected to exhibit a CAGR of 8.1% during the forecast period (2022-2030).

Analyst’s Views on Global Life Sciences Analytics Market:

Increasing coordination among government bodies, sharing research, expertise, and other information related to health is expected to drive the growth of the global life sciences analytics market over the forecast period. For instance, on July 28, 2020, the U.S. federal government department such as the Department of Energy (DOE), Department of Health and Human Services (HHS), and Department of Veterans Affairs (VA), announced the creation of COVID-19 Insights Partnership, a collaboration to organize and share health information, research, and experience to help in the COVID-19 fight. With the help of the COVID-19 Insights Partnership, HHS and VA have a framework for utilizing DOE’s high-performance computing (HPC) and artificial intelligence resources to undertake COVID-19 research and analyze health data that would not otherwise be possible

Key Trends and Analysis of the Global Life Sciences Analytics Market:

Need for improved data standardization is expected to drive growth of the global life sciences analytics market. For instance, in June 2020, Oracle Health Sciences introduced Clinical One Data Collection Cloud Service. This software can integrate data from multiple sources into a single platform, which in turn helps improve the speed and efficiency of clinical trial studies. ​

Driver -:

Increasing prevalence of non-communicable diseases across the globe augment the growth of market size

According to the factsheet published by World Health Organization, in 2022, Non-communicable diseases (NCD) kill 41 million people each year, equivalent to 71% of all deaths globally. Each year, more than 15 million people die from a NCD between the ages of 30 and 69 years. Cardiovascular diseases account for most Non-communicable diseases deaths, about 17.9 million people annually, followed by cancers (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). These four groups of diseases account for over 80% of all premature Non-communicable diseases deaths.

High cost of implementation to hinder the market growth

High cost of implementation is expected to hamper growth of the global life sciences analytics market. For instance, according to the Clinical Trial Management Software Pricing Guide and Cost Comparison by Capterra, CANTAB costs about US$ 30,000, MEDAS-HIMS costs about US$ 25,000, and TrialPoint Software costs about US$ 15,000. This further indicates the cost of data analytics products to be high.

Market Trends -:

Adoption of web-hosted and cloud-deployed analytical solutions by market players to increase the market size

Increasing adoption of web-hosted and cloud-deployed analytical solutions is expected to propel growth of the global life sciences analytics market. For instance, in March 2022, Snowflake Inc. a cloud computing–based data cloud company announced the launch of the Healthcare & Life Sciences Data Cloud to enable organizations to securely centralize, integrate, and exchange critical/sensitive data at scale. Snowflake ensures high levels of data security and governance, and its built-in capabilities and extended partner network allow companies to meet compliance requirements and satisfy industry regulations.

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Recent Developments:

September 27, 2022, Pfizer Inc. a biopharmaceutical company, had acquired University of Queensland startup ResApp Health Limited for $179 million. ResApp, has developed simple and inexpensive smartphone technology that can accurately identify respiratory diseases based on cough analysis. The technology uses artificial intelligence to diagnose and measure the severity of conditions using the sound of a patient’s cough.

In February 2022, Clinixir Company Limited selected Oracle’s innovative clinical research and pharmacovigilance solutions as its eClinical platform. Clinixir chose Oracle Health Sciences Clinical One Cloud Service for its comprehensive, end-to-end technology capabilities and breadth of applications.

In August 2021, Accenture Federal Services (AFS), a subsidiary of Accenture PLC, completed acquisition of Novetta, a McLean, Virginia-based advanced analytics company.

In July 2021, Philips & Cognizant teamed up to develop end-to-end digital health solutions that will enable healthcare organizations and life sciences companies to improve patient care and accelerate clinical trials.

In March 2021, Cleveland Clinic and IBM teamed up to establish the Discovery Accelerator, a joint Cleveland Clinic – IBM centre to fundamentally advancing the pace of the discovery in healthcare and life sciences through the use of artificial intelligence (AI), quantum computing technologies, and high-performance computing on the hybrid cloud.

Key Market Takeaways:

The global life sciences analytics market is expected to exhibit a CAGR of 8.1% during the forecast period, as researchers are using predictive analytics to forecast rare disease development. For instance, on October 26, 2022, a research team from the University of Florida Health and the University Of Pennsylvania Perelman School Of Medicine announced that they will develop a set of predictive analytics algorithms to forecast which patients are likely to develop certain rare diseases.

Among product type, the descriptive analytics segment is dominant due to the increased research activities for the development of mobile health applications. For instance, according to an article published on October 25, 2022, by Scientific Reports, multiple studies have focused on the development of new mHealth apps using descriptive analysis for the management of COVID-19 in Spain. By using this application, it is possible to better manage the time of healthcare workers and prevent hospital overpopulation. Moreover, among region Europe is estimated to hold dominant position in market due to increasing digital health investment in European state. For instance, according to data published in Jun 23, 2022 by Earlybird, a capital investor, in 2021, a venture capitalist invested roughly US$ 5 billion in Europe, US$ 5 billion in Switzerland, and US$ 4 billion in the UK for the development of Digital Health

On the basis of end user, the pharmaceutical and biotechnology companies segment is expected to hold a dominant position over the forecast period, due to the increasing use of predictive analysis in clinical trials for the development of new drugs. For instance, according to data published in October 2021, by Data Analytics, machine learning algorithms can be applied at various stages in the drug discovery process, from early molecule selection to simulation of clinical trials. In order to find predictive patterns and connections between clinical outcomes, patient demographics, medication response phenotypes, medical history, and genetic information, data scientists have started applying machine learning algorithms to clinical trial data. Moreover, for the pharmaceutical and biotechnology companies segment growth Europe is estimated to hold dominant position due to increasing investment by key market players. For instance, on March 23, 2022, AstraZeneca, a pharmaceutical company, has invested about US$ 33 million in Huma, a U.K.-based medical technology start-up, whose platform supports digital ‘hospitals at home’ and supports decentralized clinical trials. The platform combines predictive algorithms, digital biomarkers and real-world data to support ‘proactive, predictive care and research.

Competitive Landscape:

Key players operating in the global life sciences analytics market include Apollo Intelligence, SERMA Group, M3 (EU) Ltd., Dynata, Wipro Limited, SAS Institute Inc., IQVIA, Oracle Corporation, MaxisIT, IBM Corporation, Cognizant, Accenture, EXL Service (SCIOInspire Corp.), and TAKE Solutions Limited.

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Market Segmentation:

  • Global Life Sciences Analytics Market By Product Type:
    • Descriptive Analytics
    • Predictive Analytics
    • Prescriptive Analytics
  • Global Life Sciences Analytics Market By Application:
    • Research and Development
    • Supply Chain Analytics
    • Sales and Marketing
    • Other Applications
  • Global Life Sciences Analytics Market By Component:
    • Services
    • Software
  • Global Life Sciences Analytics Market By End User:
    • Clinical Research Institutions
    • Pharmaceutical and Biotechnology Companies
    • Medical Device Companies
    • Other End Users
  • Global Life Sciences Analytics Market By Geography:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa

Related Market Intelligence Reports:

Healthcare Predictive Analytics Market, By Application (Clinical Data Analytics, Financial Data Analytics, Administrative Data Analytics, and Research Data Analytics), By Component (Software, Hardware, and Services), By Deployment (On Premise and Cloud Based), By End-User (Healthcare Providers, Industry, and Research Institutions), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) – Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028

Healthcare IT Outsourcing Market, By Application (Payer Outsourcing (Hospital Information System, Laboratory Information System, Radiology Information System, Electronic Medical Records, and Other Types), and Providers Outsourcing (Revenue Cycle Management System and Healthcare Analytics)), By End User (Healthcare, Pharmaceutical & Biotechnology, and Others), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) – Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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Tata Elxsi and Telefónica Collaborate to Achieve True Cloud-Native Infrastructure Management, Revolutionising Telecommunications Landscape

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BENGALURU, India and BARCELONA, Spain, Feb. 27, 2024 /PRNewswire/ — Tata Elxsi and Telefónica proudly announce a groundbreaking achievement in the realm of the automation of cloud infrastructure for telecommunications, with the successful implementation of true cloud-native infrastructure management powered by ETSI Open-Source MANO (ETSI OSM). This milestone represents a significant evolution in network management, enabling operators to build intent-driven network systems with unprecedented efficiency and agility.

Through this collaboration, Tata Elxsi and Telefónica have enhanced the capabilities of OSM, introducing innovative features such as infrastructure automation, serverless operations execution environments, and the deployment of multi-cloud Platform-as-a-Service (PaaS) solutions. These advancements mark a new phase in the evolution of Telco Cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
The integration of OSM with Tata Elxsi’s award-winning NEURON platform represents a pivotal moment in multi-domain transformation towards autonomous network systems. NEURON’s business intent-driven functionalities, coupled with OSM’s platform, provide operators with unparalleled control and flexibility in managing complex infrastructures.
“In our collaboration with Tata Elxsi, our objective is to advance the boundaries of technology and standardization, propelling operators towards cloud-native agility,” emphasised Francisco-Javier Ramón, Multicloud Tools Manager in gCTIO Unit at Telefónica.
“We are thrilled to partner with Telefónica to revolutionize the orchestration landscape,” commented B. Ramesh Ramanathan, Principal Architect, CTO Office at Tata Elxsi. “This collaboration enhances our presence within the open-source community and propels NEURON towards the realm of 5G and beyond and autonomous networks.”
The strategic collaboration between Tata Elxsi and Telefónica sets the stage for future advancements in Telco Cloud technology, paving the way for cutting-edge solutions that address the evolving needs of the telecommunications industry.  Powered by OSM, NEURON now possesses the capability to seamlessly integrate infrastructure, services, security, networking, and configuration into a unified, intent-driven deployment.
Please visit MWC Hall 2 – 2A53MR to see the joint demonstration by Telefónica and Tata Elxsi.
About Tata Elxsi
Tata Elxsi is a global design and technology services company that blends technology, creativity, and engineering to help customers transform ideas into world-class products and solutions. With expertise in industries such as automotive, broadcast, communications, healthcare, and more, Tata Elxsi is committed to driving innovation and delivering value to its clients worldwide. For more information, visit www.tataelxsi.com.
About Telefónica:
Telefónica is a leading telecommunications company operating in Europe and Latin America. With a presence in over 15 countries and a customer base exceeding 350 million, Telefónica is committed to providing cutting-edge solutions and services that enable individuals, businesses, and communities to connect and thrive in the digital world.
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Netcore Unbxd’s Strategic Expansion in Europe Fuels 150% Revenue Growth, Redefining Ecommerce in Europe

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LONDON, Feb. 27, 2024 /PRNewswire/ — Netcore Unbxd, a leading AI-powered Commerce Search and Product Discovery landscape player, proudly announces exceptional growth in the UK and European markets. This growth which has tripled in the last year, is marked by the successful onboarding of market-leading retailers, including Waitrose, Unilever Europe, Camper Footwear, Dobbies, Alohas, OceansApart, Goodform, and ResMed Europe. What sets this accomplishment apart is its tangible impact on the retailer’s bottom line, as they leverage the advanced capabilities of Netcore Unbxd’s platform, resulting in an impressive 40% surge in revenue and a substantial 25% increase in conversions.

As a wholly owned subsidiary of Netcore Cloud Pvt Ltd, Netcore Unbxd has strategically scaled its teams across key markets in the UK, France, Spain, and Portugal. Unbxd’s data infrastructure spans five regions, including one in the EU. Additionally, the region has established a comprehensive Go-To-Market (GTM) team comprising skilled professionals in customer success, account management, and sales to reinforce its commitment to providing exceptional services and support to its expanding clientele.
Netcore Unbxd’s success lies in the compelling stories of its customers, which include:
Fishpools, a significant player in the UK furniture industry, experienced a 51% increase in Average Order Value (AOV) and a 20% surge in search-related revenue within 12 months of implementing the Unbxd platform.Wex Photo Video, a leading electronics retailer, saw a remarkable 35% reduction in bounce rates within the same period.The company’s recognition as a leader in the Forrester Wave report in the Commerce Search and Product Discovery category in Q3 of 2023 further solidifies its position in the market. This is in addition to Netcore’s previous recognition as a top vendor in Email Marketing Services (Q1 2022) and Cross-Channel Marketing (Q1 2023).
Netcore Unbxd’s advanced AI technology empowers retailers to deliver highly personalised shopping experiences, optimising product discovery and ensuring a seamless shopper journey. The region’s platform has been highly successful, offering enterprise features such as omnichannel search, natural language processing (NLP) models, and multi-language understanding. Recent collaborations with industry leaders such as Unilever and Waitrose highlight the platform’s effectiveness across diverse UK and European sectors.
Nishant Jain, COO of Netcore Unbxd, stated, “Our vision is to revolutionise the ecommerce landscape by leveraging AI technologies like large language models (LLMs) and vector models to enhance product discovery. Netcore Unbxd, a platform designed for enterprise retailers, has observed a significant 150% growth in revenue within the region over the past year.”
Laura Burbedge, Director of Online at Waitrose, said, “We know that our customers are busy and have lots of demands on their time – they need to be able to fill their online shopping trolley quickly and easily with minimal effort. Through working with Unbxd we have already seen a significant improvement in customer satisfaction with our search feature, with more personalised results.”
As AI continues to evolve in ecommerce, Netcore Unbxd remains well-positioned to leverage innovative solutions that empower businesses to stay ahead of the curve.
About Unbxd
Netcore Unbxd is a cutting-edge AI-powered product discovery platform that elevates the ecommerce experience with personalised interactions. By providing a range of solutions, including contextually relevant Search, Personalisation, and Product Recommendations, alongside an intelligent Product Information Management (PIM) platform and an intuitive merchandising console, Unbxd offers brands the tools to optimise their ecommerce objectives. Noteworthy global brands such as Unilever, MattressFirm, Waitrose, Advance Auto Parts, Dillard’s, The Children’s Place, HSN, and Wex have trusted Unbxd. Across the world, Unbxd consistently delivers exceptional shopping journeys to countless online visitors at scale.
Media Contact:Mekhala [email protected] 
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ZwickRoell selects IFS Cloud to drive operational efficiency and support growth

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IFS Cloud ERP will streamline ZwickRoell’s processes to reduce complexity and improve efficiencies to build business resilience.
LONDON, Feb. 27, 2024 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced that ZwickRoell Gmbh & Co.KG, a leading worldwide manufacturer of materials testing equipment, has selected IFS Cloud in a strategic move to harmonize its business processes and deliver enhanced visibility across its operations.

The move to IFS Cloud was driven by the need to modernize its current Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solution, which could no longer meet the business’ requirements needed to support its strategic growth plans.  Amid industry challenges, including global supply chain disruption, meeting sustainability goals and readiness for increased automation, ZwickRoell sought a new solution that would simplify its daily operations and eliminate existing IT operating risks.
IFS Cloud will enable the company to harmonize its disparate systems and simplify processes across its operations, driving continuous improvements and efficiency. With IFS Cloud, ZwickRoell will benefit from a single, composable digital platform that is designed to fit the needs of its complex manufacturing cycle today, from product development through to service and maintenance, and scale in future.
A key advantage of IFS Cloud is its evergreen model, which allows ZwickRoell to seamlessly integrate composable business applications across ERP, Enterprise Asset Management (EAM) and Field Service Management (FSM) as needed, enabling a solid data foundation across organization, and therefore delivering faster time to insight and minimizing costs. IFS Cloud will also enable the company to easily integrate users from MS Dynamics CRM systems, one of ZwickRoell’s key requirements.
Klaus Cierocki, CEO of ZwickRoell, said: “We are excited to begin a new chapter with IFS. Their manufacturing industry expertise and leading enterprise software differentiated them during the competitive selection process and they have given us complete confidence that they will support. IFS Cloud will provide us with the single platform that we knew was necessary to properly support our entire manufacturing and production cycle, ultimately helping us deliver better value to our customers and to build resiliency and agility into our business.”
Frank Beerlage, Managing Director DACH, IFS, said: “ZwickRoell is a strong family-run organization with traditions reaching back 160 years. Its values of honesty and fairness and its commitment to its customers are deeply aligned with IFS’s own mission. Globally, we are seeing manufacturers are increasingly accelerating their adoption of cloud-enabled solutions to enable the agility needed in the face of global challenges. We look forward to partnering with ZwickRoell on their digital transformation journey with IFS Cloud a core part of their strategic growth plans.”
The scale of deployment will include 1,390 users and two sites in Germany and Austria, with an 18-month global rollout to follow.
About ZwickRoell
For more than 160 years ZwickRoell has delivered outstanding technical performance, innovation and quality, in materials and component testing. ZwickRoell testing machines are used in R&D and quality assurance in more than 20 industries with one common goal – reliable test results This is ensured by a team of 1,900 dedicated employees in +50 countries, with competence, openness and passion.
Learn more about how automation and digitalization can make testing processes more efficient, simpler and safer at zwickroell.com  
About IFS
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
IFS Press Contacts:EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7018 607 299
The following files are available for download:
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ZwickRoell PR Final
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