Life Science Analytics Market - SAS Institute Inc. & IBM is among are Leading Players in the Market

Life Science Analytics Market

According to research report the life science analytics market is expected to reach USD 24.73 Billion by 2021 from USD 13.26 Billion in 2016, at a CAGR of 13.3% from 2016 to 2021.

The life science analytics market is witnessing significant growth across the globe owing to factors such as technological advancements, availability of big data in the life science industry, growing adoption of analytics solutions for clinical trials, increasing adoption of analytics solutions for sales and marketing applications, growing need for improved data standardization, rising prevalence of chronic diseases, increasing pressure to curb healthcare spending, and growing need for improved patient outcomes.

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Key Players in the Life Science Analytics Market Pursue Agreements, Partnerships, and Collaborations; Product and Service Launches, Upgrades, and Enhancements; Expansions; and Mergers and Acquisitions as their Key Growth Strategies

Prominent players in the life science analytics market include SAS Institute Inc. (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), Quintiles, Inc. (U.S.), Accenture (Ireland), Cognizant (U.S.), Wipro Limited (India), MaxisIT, Inc. (U.S.), TAKE Solutions (India), and SCIO Health Analytics (U.S.).

Other players in the market include companies such as SAP SE (Germany), Apps Associates (U.S.), Tata Consultancy Services (TCS) (India), Teradata (U.S.), Infosys Limited (India), HCL Technologies Ltd. (India), Tibco Software Inc. (U.S.), Persistent Systems Ltd. (India), CitiusTech, Inc. (U.S.), SHYFT Analytics, Inc. (U.S.), Comprehend Systems, Inc. (U.S.), Zephyr Health (U.S.), e4e, Inc. (U.S.), Attivio (U.S.), Orion Systems Integrators, LLC. (U.S.), BioXcel Corporation (U.S.), Systech Solutions, Inc. (U.S.), Saama Technologies (U.S.), PointCross LifeSciences (U.S.), Incedo, Inc. (U.S.), Infogain (U.S.), Axtria (U.S.), Bodhtree (India), and Qlik (U.S.).
SAS Institute Inc. is one of the key players in this market. The company is known for its innovative analytics, business intelligence, and data management software and services. The company adopts organic as well as inorganic growth strategies in order to expand its business. In May 2016, the company collaborated with Duke Clinical Research Institute (DCRI) (U.S.) to provide researchers with data management and analytics tools. Such collaborations enable the company to enhance its presence in the life science analytics market.

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IBM is among the leading players in the life science analytics market. The company offers smarter analytics, consulting, and systems integration services for strategy and transformation, enterprise applications, and application management maintenance. In addition the company provides its Watson solutions based on cognitive computing platform, which analyzes big data to provide accurate insights to its customers. To expand their Watson solutions, in April 2015, IBM established a new business unit—Watson Health—which provides cloud-based access to the Watson supercomputer for analyzing data. Moreover, in November 2015, the company collaborated with Celgene Corporation (U.S.) to develop IBM Watson for Patient Safety, which helped IBM to expand its life science analytics segment offerings.

Medical Device Contract Manufacturing Market Top Players and Growth Strategies

Medical Device Contract Manufacturing Market

According to research report the Medical Device Contract Manufacturing Market is expected to reach USD 91.3 billion by 2024 from an estimated USD 55.0 billion in 2019, at a CAGR of 10.6%. Factors such as increasing automation in the manufacturing of medical devices and advanced technologies integrating electronics and medical devices are expected to drive the growth of the medical device contract manufacturing market. The increased connectivity and data-gathering capabilities of these technologies make it possible to build high-volume, regulation-compliant manufacturing processes with efficient inventory and production management. With the increasing adoption of Industry 4.0 technologies in manufacturing critical and sophisticated medical devices, the medical device contract manufacturing market is expected to grow significantly during the forecast period. 

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Market growth is largely driven by the rising global disease prevalence, life expectancy, and geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to contract manufacturing.  

The medical device contract manufacturing market is highly fragmented with the top 15 companies accounting for approximately 25% of the total market. As of 2018, Flex, Ltd. (Singapore) and Jabil, Inc. (US) together accounted for approximately 10% of the global medical device contract manufacturing market.

Jabil Inc. (US) was the leader in the medical device contract manufacturing market in 2018. The company offers a focused range of products such as diagnostic devices, diabetes care devices, ophthalmology devices, pharmaceutical drug delivery devices, and consumables for medical devices and services such as additive manufacturing, contract manufacturing, quality management services, and final goods assembly services. It also offers advanced manufacturing technologies such as electronic manufacturing services and automation in a number of manufacturing facilities worldwide such as Singapore, Mexico, China, and the US, among others. The company also serves some of the top companies in other domains, such as Apple Inc., Cisco Systems Inc., Hewlett-Packard Company, Keysight Technologies, LM Ericsson Telephone Company, NetApp Inc., Nokia Networks, SolarEdge Technologies Inc., Valeo S.A., and Zebra Technologies Corporation that added to its brand recognition. Some of the key customers of the company for contract manufacturing services are Abaxis, Inc. (US), Ulthera, Inc. (US), and Antares Pharma Inc. (US). Jabil focuses on collaborating with the major pharma and medical device companies for contract manufacturing. For instance, in September 2018, the company collaborated with Johnson & Johnson for manufacturing medical devices.

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Flex Ltd. (Singapore) was the second-leading player in the medical device contract manufacturing market in 2018. The company is predominantly known for its expertise in the electronics segment and has been contracted by some of the major players in the electronics industry. Some of the key customers of the company are Alimera Sciences, Inc. (US) and Cellnovo Limited (France). The company focuses on agreements and partnerships to strengthen its services portfolio in the medical devices and other healthcare segments. For instance, in October 2018, Flex partnered with Novo Nordisk (Denmark) to develop digital health solutions for diabetes patients.