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.
Companies are focusing on adopting organic and inorganic growth strategies such as partnerships, agreements, collaborations, new product launches, new service launches, product upgrade, product enhancement, and service enhancement, acquisitions, and expansions to synergistically develop advanced analytics solutions in the market. These strategies help market players to strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
The overall growth strategies mapped from 2013 to June 2016 include partnerships, agreements, collaborations, product and service launches, product upgrade, product and service enhancement, acquisition, and expansion. Product and service launches, upgrades, and enhancements accounted for the largest share of the overall strategic developments mapped in the above-mentioned period. IBM Corporation (U.S.), Oracle Corporation (U.S.), SAS Institute, Inc. (U.S.), Quintiles, Inc. (U.S.), Accenture (Ireland), and Wipro Limited (India) are the companies that majorly adopted these strategies.
