The global life science analytics market was valued at USD 9.0 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. This growth is driven by the increasing adoption of analytics within the life science industry, which is becoming increasingly reliant on various types of data analysis to improve research, operations, and clinical outcomes. The industry is using descriptive and reporting analytics to organize and build databases, while also leveraging prescriptive and predictive analytics to forecast future trends and outcomes. This integration of advanced analytics is expected to significantly accelerate market growth.

One of the major factors propelling this market growth is the rising influence of social media and the internet, which has a direct impact on patient engagement. This, in turn, is boosting the demand for analytical solutions. Social media platforms and online health communities enable patients to share experiences and information, increasing awareness and leading to greater adoption of data-driven approaches. Healthcare facilities and life science organizations are increasingly adopting analytics to improve clinical, financial, and operational outcomes, with the added goal of minimizing healthcare costs. This trend further drives the market for analytics in life sciences.

The rising demand for personalized medicine which involves tailoring treatments based on individual genetic profiles is another key factor driving the market. This is facilitated by the use of vast datasets generated through eHealth, mHealth, and electronic health records (EHR). Life science analytics helps process and analyze these datasets, allowing healthcare providers to offer more personalized care. Additionally, the integration of artificial intelligence (AI)-based algorithms into data analytics is further enhancing the ability to mine data from health records. This enables healthcare organizations to customize treatment plans for individual patients more efficiently.

Gather more insights about the market drivers, restrains and growth of the Life Science Analytics Market 

Regional Insights:

North America Life Science Analytics Market Trends

In 2022, North America held the largest share of the life science analytics market, accounting for over 50.6% of the global revenue. Several factors contribute to this dominance, including the region's high digital literacy, advancements in healthcare IT infrastructure, the presence of a large number of healthcare startups, and the significant presence of key market players. Additionally, North America faces challenges such as a growing geriatric population, an increasing incidence of non-communicable diseases, and a rising demand for value-based care all of which are encouraging the adoption of analytical solutions. North American companies are consistently investing in product development and partnership strategies to broaden their market offerings and stay competitive in the region.

Asia Pacific Life Science Analytics Market Trends

The Asia Pacific region, however, is expected to register the fastest growth rate in the market, with a projected CAGR of 10.3% over the forecast period. This rapid growth can be attributed to several factors, including increased healthcare IT spending, improving healthcare infrastructure, and the entry of key global market players into the region. Economic development in countries within Asia Pacific, along with the availability of cost-effective and highly skilled personnel, also plays a key role in driving market growth. Additionally, increasing digital literacy and expanding access to technology across the region are expected to further fuel the demand for life science analytics. Consequently, many companies are developing specific strategies to enter and expand in the Asia Pacific market.

Browse through Grand View Research's Category Healthcare IT Industry Research Reports.

• The global healthcare digital twins market size was estimated at USD 902.59 million in 2024 and is projected to grow at a CAGR of 25.9% from 2025 to 2030.

• The global burial insurance market size was valued at USD 279.78 billion in 2023 and is projected to grow at a CAGR of 5.6% from 2024 to 2030.

Key Companies & Market Share Insights:

Several major players in the life science analytics market are actively developing advanced analytics solutions to meet growing demand. These companies are focusing on innovative product development strategies, forging new partnerships, and exploring collaborations to strengthen their business presence. The aim is to provide customized, data-driven insights that can optimize decision-making and improve patient care.

For example, in April 2021, IQVIA launched its Connected Intelligence platform, which allows healthcare organizations to leverage analytics in discovering actionable insights and supporting more effective decision-making. This platform integrates IQVIA's expertise in healthcare analytics with cutting-edge technologies, offering a comprehensive solution for healthcare providers to improve patient outcomes, enhance operational efficiency, and address challenges like the Covid-19 pandemic.

Life science organizations are increasingly relying on these kinds of advanced analytics to deliver more personalized treatments and promote value-based care. The ability to tailor treatments and care plans based on detailed, data-driven insights is transforming the healthcare landscape, enhancing patient outcomes, and improving overall healthcare efficiency. This shift toward more personalized and value-driven healthcare models is expected to be a significant driver of growth in the life science analytics market over the coming years.

Key Life Science Analytics Companies:

• Oracle

• IQVIA

• SAS Institute Inc.

• Cognizant

• IBM

• Accenture

• Take Solutions Limited

• Wipro Limited

Order a free sample PDF of the Life Science Analytics Market Intelligence Study, published by Grand View Research.