In a recent published report, Kenneth Research has updated the market report for Commercial Pharmaceutical Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Commercial Pharmaceutical Analytics Market products.
Pharmaceuticals analytics refers to the use of analytical software to analyze and manage biomedical and biological data from life science industries like hospitals, pharmaceutical companies, and laboratories.The global commercial pharmaceutical analytics market was valued at USD 1.0 billion in 2015, and is expected grow at a CAGR of around 20% during the forecast period. This rapid growth is majorly attributed to growing adoption of new technologies & analytical tools in process streamlining, as well as the growing pharmaceutical industry, especially in developing nations. On the other hand, lack of skilled professionals and high software cost are major obstacles restraining the market growth.
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The market is mainly segmented on the basis of type, deployment method, applications, and regions. Market segmentation by types include sub-segments namely, descriptive analytics, predictive analytics and prescriptive analytics. The descriptive analytics sub-segment, valued at USD 817.9 million, held more than 75% market share in 2015.Market categorization based on deployment methods includes on-premise deployment, and web-based/cloud based deployment. The market has also been segmented based on applications into research & development, marketing & sales, supply chain optimization, internal reporting, and other applications.
North America held the largest market share of around 49% within the global commercial pharmaceutical analytics market, in 2015. Europe market, valued at USD 282.7 million, held the second largest market share in 2015.
The leading players of the global commercial pharmaceutical analytics market are Tata Consultancy Services Limited (India), ORACLE (U.S.), Northwest Analytics, Inc. (U.S.), Wipro Limited (India), Microsoft (U.S.), Allscripts (U.S.), Cerner Corporation (U.S.), and Fuzzy Logix, Inc. (U.S.).
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• To provide insights about factors influencing and affecting the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on types, applications, and method of deployment
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• Medical Devices & Pharmaceutical companies
• Software development & IT firms
• Hospitals & Clinics
• Potential Investors
• Raw Material Suppliers
• Key executive (CEO and COO) and strategy growth manager
• On the basis of type, predictive analytics is the fastest growing segment and is expected grow at 20.4% CAGR during the forecast period to reach USD 1.5 billion by 2027
• With revenue of USD 630.0 million, the on premise deployment has held the largest market share of around 60% within the commercial pharmaceutical analytics market, in 2015
• Marketing & sales is the fastest growing application segment, and is anticipated to grow at a CAGR of 20.5% between 2016 and 2027
• Asia-Pacific region is estimated to achieve the fastest growth of 20.8% CAGR during the forecast period on account of high adoption rate in the following decade
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The report also covers country level analysis:
• North America
o Western Europe
o Rest of Western Europe
o Eastern Europe
o Republic of Korea
o Rest of Asia-Pacific
• Middle East & Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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