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Data Monetization Solutions For Life Science Companies Global Market will Exceed $0.86 Billion By 2028 with a Projected CAGR of 19.7% | Siemens, Salesforce Inc., Cognizant, Infosys Limited
Data Monetization Solutions For Life Science Companies Market
As per the report, the data monetization solutions for life science companies market size has grown rapidly in recent years. It will grow from $0.35 billion in 2023 to $0.42 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The data monetization solutions for life science companies market size is expected to see rapid growth in the next few years. It will grow to $0.86 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%.
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Advancing Personalized Medicine Driving Growth in Data Monetization Solutions
The shift towards personalized medicine in the life sciences industry is expected to propel the growth of data monetization solutions for the life science companies' market going forward. The personalized medicine in the life sciences industry refers to tailoring medical treatments to individual genetic, environmental, and lifestyle factors for more effective and targeted healthcare. The shift towards personalized medicine generates the need to analyze vast patient data, driving demand for advanced data analytics and monetization solutions for life science companies. For instance, in February 2024, according to a report published by the Personalized Medicine Coalition, a US-based organization, in 2023, the FDA approved 16 new personalized treatments for rare disease patients, up from six in 2022. Therefore, the shift towards personalized medicine in the life sciences industry is driving the growth of data monetization solutions for life science companies' markets.
AI Integration Revolutionizing Data Monetization Solutions for Life Science Companies
Major companies operating in the data monetization solutions for the life science companies' market focus on integrating artificial intelligence, such as AI algorithms and technologies, to extract actionable insights, optimize processes, and unlock the value of data assets. Artificial intelligence integration helps automate data analysis tasks, predictive modeling, and decision-making, leading to enhanced efficiency, improved research outcomes, and the development of innovative products and services in the life sciences sectors. For instance, in May 2023, Microsoft, a US-based technology provider, launched Microsoft Fabric, a unified analytics AI platform that combines all the data and analytics tools that help life science companies save time by analyzing complex sets of disconnected, multimodal health data sources such as text, images, video. The Microsoft Fabric is an AI integration with Microsoft Cloud that provides a secure and governed way for life science companies to access, analyze, and visualize data-driven insights across their organization.
The data monetization solutions for life science companies market covered in this report is segmented -
1) By Type: Software, Services
2) By Data Type: Clinical Data, Genomic Data, Real-World Evidence, Patient-Generated Health Data
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Drug Discovery, Clinical Trial Optimization, Patient Engagement, Health Outcomes Research
5) By End-User: Pharmaceutical Companies, Biotechnology Firms, Contract Research Organizations, Healthcare Providers
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Major companies operating in the data monetization solutions for life science companies market are Google, Microsoft, Amazon Web Services (AWS), Siemens, International Business Machines Corporation, Deloitte, Cisco Systems, Ernst & Young, Oracle, SAP, Salesforce Inc., Cognizant, Infosys Limited, Labcorp Drug Development, IQVIA, ICON plc, Syneos Health, PRA Health Sciences, Snowflake Inc., Veeva Systems, Medidata Solution, Particle Health Inc., Parexel
Contents of the report:
1. Executive Summary
2. Data Monetization Solutions For Life Science Companies Market Report Structure
3. Data Monetization Solutions For Life Science Companies Market Trends And Strategies
4. Data Monetization Solutions For Life Science Companies Market - Macro Economic Scenario
5. Data Monetization Solutions For Life Science Companies Market Size And Growth
…..
27. Data Monetization Solutions For Life Science Companies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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