The global data analysis, storage & management market in life sciences is expected to register a CAGR of 12.0% during the forecast period and is expected to hit USD 43,895.69 million. Data analysis, storage, and management provides operational benefits to an organization by enhancing the efficiency of electronic data storage.
The data analysis, storage & management market in life sciences is growing due to the increasing government initiatives to increase the adoption of different data-based solutions and the growing demand for data storage and management solutions due to the extensive amount of data generated in the life science field. Additionally, the increasing growth strategies adopted by major players are also driving the market growth. MRFR recognizes the following as the key players in the global data analysis, storage & management market in life sciences companies — Hewlett Packard Enterprise (US), Dell Technologies Inc. (US), Advanced Micro Devices, Inc. (US), IBM Corporation (US), Intel Corporation (US), Cisco Systems, Inc. (US), Hitachi, Ltd. (Japan), Accenture plc(Ireland), Lenovo (Hong Kong), and Others.
The global data analysis, storage & management market in life sciences has been divided based on product & service, application, and end user.
By Product & Service
- Data Analysis Software and Workbenches
- Storage, Management and Cloud Computing Solution
- Data Analysis Services
- Next-Generation Sequencing
- Flow Cytometry
By End user
- Pharmaceutical and Biotechnology Companies
- Research Centers
- Academic & Government Institutions
- Hospitals & Clinics
The global data analysis, storage & management market in life sciences, based on region, has been divided into North America, Europe, Asia-Pacific, and the rest of the world.
North Americais expected to dominate with the largest market share due to a well-developed healthcare sector, the rising population affected with chronic diseases and other cardiovascular disorders, the growing use of big data in healthcare, and the presence of leading players.
Europe held a significant share in the global data analysis, storage & management market in life sciences. This can be attributed to the increasing support from the government, well-developed technology, high healthcare expenditure, the presence of the leading players, and rising adoption of big data analysis and cloud-based solutions.
Asia-Pacific is expected to be the fastest-growing market due to the rapidly changing healthcare sector and huge opportunities for the development of this market. Furthermore, the increase in per-capita healthcare expenditure, rise in diagnostic centers, and rapid urbanization in developing countries such as India are likely to witness an increase in the influx of the emigrant population.
The data analysis, storage & management market in life sciences in the rest of the world is growing steadilydue to the significant improvement in the healthcare infrastructure in the region, and the increasing need for better management software drive the data analysis, storage & management market growth in the region.
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