The global healthcare data mining and visualization market has been slated to reflect a spectacular rise between the forecast period 2017 and 2026. The market has been estimated to surpass US$ 6,000 Mn in revenues by 2026-end.
Companies Leveraging Lifesciences Data Visualization to Make Improvements in their Facilities
With the business of lifesciences witnessing continuous evolution, optimizing effectiveness of decisions related to capital investment is gaining paramount importance within the industries. The decisions apropos to facility function & location are indispensable, mainly because proximity to services plays pivotal role. Lifescience data visualization has therefore been gaining huge momentum along with its provision of the application-specific data and infographics. Lifescience data visualization facilitates better understanding of complex data’s graphical representation, which has led companies to capitalize on the technology with an aim to make improvements in their facilities. A popular trend witnessed in the market is increasing importance of sharing lifescience data visualization in a bid to enable discerning of results in a format that is easy to understand.
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Data mining is intensively & extensively being utilized by several lifesciences organizations, and is gaining immense popularity in the industry, although the degree of essentiality has been moderate. The data mining applications significantly benefit the lifesciences companies, for example, these organizations can make correct decisions associated with customer relationship management, thereby enabling physicians in identifying best practices as well as effective treatment options. Patients are provided with affordable & improved healthcare services. Huge amount of highly complex data created by transactions apropos to the lifesciences industry entails challenges such as processing and analyzing the voluminous data by using traditional methods. However, with the help of methodology and technology of data mining, the process of transforming this complex data into a useful intelligence is facilitated.
Key Future Projections of Lifescience Data Mining and Visualization Market for Forecast Period 2017-2026
1- The global market for lifesciences data mining and visualization will be dominated by North America, in terms of revenues, during the forecast period. Europe has been estimated to remain the second largest market for lifesciences data mining and visualization.
2- Asia-Pacific excluding Japan (APEJ) is anticipated to remain the fast-expanding market for lifesciences data mining and visualization, with revenues estimated to exceed US$ 500 Mn by 2026-end.
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3- Revenues from the markets in Europe and Japan will increase at an equal CAGR, although Japan is poised to account for a small revenue share of the market during the forecast period.
4- On the basis of licensing structure, server-based segment will continue to be the leading revenue contributor to the market, followed by user-based yearly license. Revenues from these tow licensing structure segments are expected to hold over 40% share of the market by 2026-end.
5- Pharmaceuticals will continue to be the most remunerative customer segment in the global lifesciences data mining and visualization market, followed by biotech. These two customer segments are also projected to witness the fastest expansion in the market through 2026.
6- Among solution types in the market, the largest revenue shares of the market will be accounted by sales & marketing, operations and supply chain during the forecast period.
7- Both (on demand and on premise) delivery model of lifesciences data mining and visualization will continue to account for the largest revenue share of the market.
Key players identified by Fact.MR’s report include Tableau Software, SAS Institute Inc., SAP SE, Microsoft Corporation, TIBCO Software Inc., Oracle Corporation, IBM Corporation, Dundas Data Visualization Inc., Information Builders, Pentaho Corporation, MicroStrategy Inc., and InetSoft Technology Corporation.
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7 Key Takeaways on Lifesciences Data Mining and Visualization Market for Forecast Period 2017 – 2026
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