“Data Analysis, Storage & Management in Life Sciences to register a CAGR of 17.1% from 2019 to 2024”
Data Analysis, Storage & Management Market in Life Sciences is projected to reach USD 41.1 billion by 2024 from USD 18.7 billion in 2019, at a CAGR of 17.1%. Growth in this market is mainly driven by increasing demand for data storage, analysis and data management solutions, rising use of cloud solution due to enterprise mobility, and technological advancements. Huge amount of data generated in the growing personalized and precision medicine activities is expected to provide opportunities for the growth of the market.
“Storage, management, and cloud computing exhibited the highest CAGR over the forecast period.”
By product & service, the data analysis, storage & management market in life sciences is segmented into data analysis software and workbenches, data analysis services, and storage, management, and cloud computing solutions. Over the forecast period, the storage, management, and cloud computing segment accounted for the highest CAGR. The increasing pool of data being generated in life sciences industry is fueling the demand for storage and computing solutions.
“Next generation sequencing held the significant share in the life sciences data analysis, storage & management market in 2018”
On the basis of application, the data analysis, storage & management market is segmented into next generation sequencing, microscopy, chromatography, flow cytometry, spectroscopy, and other applications such as PCR among others. In 2018, next generation sequencing -NGS segment accounted for the largest share of the data analysis, storage & management market. The large share of this segment can be attributed to the huge amount of data generated through enormous number of ongoing activities. HPC applications market is also dominated by next generation sequencing segment in 2018.
“US will continue to dominate largest share in the market over the forecast period”
US accounted for the largest share of the data analysis, storage & management market in life sciences. The large share of the US in this market can be attributed to the increasing R&D activities by biopharma companies and increasing presence of these companies in the US.
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Respondent Type: Supply - 31%, and Demand - 69%
- By Designation: C-level - 10%, Director-level - 25%, and Others - 65%
- By Country: US -35%, UK - 23%, Germany - 21%, and France - 21%
This report studies the HPC, Data Analysis, Storage and Management market in life sciences segment based on products and services, applications, end users, and regions. The report also analyzes factors -such as drivers and restraints affecting market growth. It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total cell-data analysis, storage and management market in life sciences.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the HPC, data analysis, storage and management products and services for life sciences segment offered by the top players in the market. The report analyzes the HPC, data analysis, storage and management market in life sciences by product and services, end user, application, and geography
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the HPC in life sciences market for various across key applications and end users
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the HPC, data analysis, storage and management market
- Competitive Assessment: In-depth assessment of market strategies of the leading players in the HPC, data analysis, storage and management market in life sciences