Brooklyn, New York, Oct. 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global pharma forecasting software market is expected to grow at a CAGR of 12.50% from 2023 to 2028.
The integration of advanced analytics and artificial intelligence (AI) technologies serves as a significant driver in the Pharma Forecasting Software Market. These tools enhance forecasting accuracy, enabling pharmaceutical companies to optimize resource allocation and streamline decision-making processes.
Key Market Trends
- The Pharma forecasting software market is primarily driven by advancements in technology and evolving pharmaceutical industry demands. One notable trend involves the increasing adoption of cloud-based forecasting software solutions, allowing pharmaceutical companies to efficiently manage data and facilitate collaborative forecasting across global teams. Cloud-based platforms offer enhanced accessibility, scalability, and data security, enabling seamless integration with existing systems and simplified deployment processes, thereby fostering streamlined operations and improved decision-making capabilities.
- Another key market trend is the growing emphasis on predictive analytics and machine learning algorithms within pharmaceutical forecasting software. These advanced analytical tools empower companies to gain insights into complex market dynamics, enabling them to predict trends, anticipate demand fluctuations, and optimize inventory management. By leveraging predictive analytics, pharmaceutical enterprises can enhance their forecasting accuracy, identify potential market opportunities, and mitigate risks effectively.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Pharma Forecasting Software Market - Forecast to 2028’’
Key Market Insights
- As per the application outlook, the sales forecasting segment is expected to be the largest segment during the forecast period
- As per the end-user outlook, the pharmaceutical companies segment is anticipated to be the largest segment during the forecast period
- Asia Pacific is analyzed to be the fastest-growing region in the market
- North America is analyzed to hold the largest share of the global market during the forecast period of 2023-2028
- The key players operating in the market are IQVIA, SAS Institute, Oracle, JDA Software, Inpharmation, J+D Forecasting, ZS Associate, Cognizant, Kinaxis, Axtria, Symphony Health, Manthan, Model N, Sarjen, Koerber Pharma, and WNS among others
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By Application (Revenue, USD Billion, 2023-2028)
- Sales Forecasting
- Demand Forecasting
- Supply Chain Forecasting
- Clinical Trial Forecasting
- Budgeting and Planning
- Others
By End User (Revenue, USD Billion, 2023-2028)
- Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Academic and Research Institutions
- Others
Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of Central & South America
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East and Africa
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
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