Commercial Pharmaceutical Analytics Market Research Report: Information by Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Application (R&D, Marketing & Sales, Supply Chain Optimization and Internal Reporting), Deployment (On-Premise and Web-Based/Cloud-Based), Components (Software and Services) - Forecast till 2027

Commercial Pharmaceutical Analytics Market Overview:

Global Commercial Pharmaceutical Analytics Market Size, by Application, 2016 (USD Million)  

Source: MRFR Analysis

Market Dynamics

Drivers

Owing to the increasing use of technology all across the globe and now almost 80% of the population has internet access and it is used to search information regarding symptoms of diseases and their treatment and the effects and side effects of the drugs acting on it. Owing to this, commercial pharmaceutical analytics tools are in great use and hence drives commercial pharmaceutical analytics in the global market. It will help in providing customers with product information and pricing of their applications. This way of advertising is very commonly used and hence drives the commercial pharmaceutical analytics market.

Opportunities

Growing demand and use of smartphones and using this technology for advertisement are possible because of the commercial pharmaceutical analytics industry for reaching a specific consumer pool that will help in enhancing the business and helps in generating various growth opportunities for the growth of the commercial pharmaceutical analytics market in the global market. Also, it will reduce the burden on hospital staff and doctors.

Restraints

The commercial pharmaceutical analytics market has gained a lot of familiarity in the recent past and is growing tremendously but some factors restrain the growth of the commercial pharmaceutical analytics industry in the global market like the conservative nature of the healthcare industry and the lack of skilled professionals hampers the growth of commercial pharmaceutical analytics in the global market. Also, the framework is very complex as analytical tools go out of control.

Value Chain Analysis

The commercial pharmaceutical analytics market is growing at a fast speed owing to a growing need for optimizing research and development cost and hence increases the process efficiency in the working of the organisation. In the case of an emergency, if there is a lack of transportation it helps in providing the treatment for the time being before reaching the hospital. It also helps in reducing the overall workload in all the organisation that is using the commercial pharmaceutical analytics industry.

Asia-Pacific Commercial Pharmaceutical Analytics Market Share, by Country, 2016 (%)  

Source: MRFR Analysis

Market Segmentation

The commercial pharmaceutical analytics market in the global market is divided based on type, application, deployment, and components.

Based on the Type

The commercial pharmaceutical analytics market in the global market is divided based on type into perspective analytics, predictive analytics, and descriptive analytics.

Based on the Application

The commercial pharmaceutical analytics in the global market is divided based on application into internal reporting, supply chain optimization, marketing and sales, and research and development. Under this marketing and sales dividend accounts for the largest market share by USD 231.4 million by 2016.

Based on the Deployment

The commercial pharmaceutical analytics in the global market is divided based on deployment into web-based or cloud-based deployment and on premise-based deployment type.

Based on the Components

The commercial pharmaceutical analytics market in the global market is divided based on components into software and services.

Regional Analysis

The commercial pharmaceutical analytics in the global market is divided based on region into the America region, the Europe region, the Asia-Pacific region, and the Middle East and Africa region. The largest share in the commercial pharmaceutical analytics in the global market is held by the American region as this region has developed various commercial pharmaceutical analytics solutions and its application. The second-largest share is held by the European region owing to the increasing demand for commercial pharmaceutical analytics for various quantitative and subjective analyses.

In the global market, the Asia-Pacific region is the fastest-growing region owing to high growth opportunities in the various untapped market in the commercial pharmaceutical analytics industry. Many countries like China, India, Japan, and South Korea have high growth opportunities during the forecasted period. Owing to the slow growth rate, the commercial pharmaceutical analytics industry holds the least share in the global market.

Competitive Landscape

The most prominent major key players in the commercial pharmaceutical analytics market in the following market are as follows:

• TRINITY PHARMA SOLUTIONS


• TAKE Solutions Ltd.


• Statistical Analysis System


• SCIO HEALTH ANALYTICS


• Northwest Analytics, Inc.


• International Business Machines Corporation


• CitiusTech Inc.


• Wipro


• ORACLE


• IBM


• Tata Consultancy Services Limited

These key players in the commercial pharmaceutical analytics market use various strategies like acquisition, product development, innovation, and expansion to increase the potential customer base in the global market that will increase the market share of these countries.

Recent Developments

• In March 2017, Brilliant Service Co. Ltd. (Japan) has been acquired by Cognizant (U.S.), because of the increase in the adoption of the internet of things (IoT) for expanding the capabilities for digital strategy, engineering, and product design for enterprise mobility.


• In July 2017, LabAnswer (U.S.) has been acquired by Accenture (Ireland) for strengthening the product portfolio of Accenture’s in digital technologies.


• In February 2019, Linguamatics has been acquired by IQVIA for helping organizations portfolio of machine learning technologies and Artificial Intelligence (AI).


• In May 2019, SAS Cloud offering has been developed by SAS Institute (U.S.) in Singapore in an Amazon Web Services Data Center.


• In February 2020, Avacare Clinical Research Network had been launched by IQVIA for providing various opportunities and patient options in a global-based site network for clinical trials.

Report Overview

This global commercial pharmaceutical analytics market research report consists of the following aspects:

• Market Overview


• COVID 19 Analysis


• Market Dynamics


• Value Chain Analysis


• Market Segmentation


• Regional Analysis


• Competitive Landscape


• Recent Developments

This global commercial pharmaceutical analytics market research report contains various driving factors as well as various restraining factors that affect the commercial pharmaceutical analytics market in the global market. This report also contains the impact of the global pandemic on the market share. This future market share of the commercial pharmaceutical analytics market is also estimated and mentioned.

Users

Pharmaceutical companies, regulatory agencies, hospitals and clinics, government research organizations, medical device manufacturers and distributors, and many others.