The global clinical data analytics market reached a value of US$ 10.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 77.3 Billion by 2027, exhibiting at a CAGR of 38.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Clinical data analytics transforms structured and unstructured medical data into a single, standardized ecosystem in real-time. It relies on sophisticated machine learning (ML) analysis to generate predictive and hidden insights. It assists healthcare providers in making informed decisions, providing clinical decision support, improving population health, enhancing care coordination, and improving patient wellness. As a result, it is widely adopted by health organizations across the globe to retrieve data concerning different aspects of health system performance, such as patient outcomes, population health, and clinical quality. Besides this, it can help reduce medication errors, minimize administrative costs, and increase revenues.
The increasing usage of electronic health records (EHRs) on account of rapid digitization in healthcare management has led to vast amounts of clinical data. This represents one of the key factors driving the need for clinical data analytics to streamline information and minimize human errors. This can also be attributed to the increasing application of EHR solutions in improving patient care coordination and accessing information in real-time due to a significant impact of coronavirus disease (COVID-19) on healthcare infrastructure worldwide. Apart from this, the emergence of m-health apps, in confluence with the increasing emphasis on high-quality personalized care in hospitals, is contributing to the market growth. Moreover, several health organizations are integrating clinical data analytics to address the challenges of changing governmental regulations while lowering healthcare costs and improving the overall quality of patient care. Besides this, rising investments in clinical studies of new drugs due to the growing prevalence of chronic diseases are anticipated to positively influence the demand for clinical data analytics across the globe.
The publisher provides an analysis of the key trends in each sub-segment of the global clinical data analytics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution, deployment mode, application and end user.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare Solutions Inc., CareEvolution LLC, Cerner Corporation, Health Catalyst, International Business Machines Corporation, InterSystems Corporation, Koninklijke Philips N.V., Medeanalytics Inc., Sisense Inc., UnitedHealth Group Incorporated and Xerox Holdings Corporation.
Clinical data analytics transforms structured and unstructured medical data into a single, standardized ecosystem in real-time. It relies on sophisticated machine learning (ML) analysis to generate predictive and hidden insights. It assists healthcare providers in making informed decisions, providing clinical decision support, improving population health, enhancing care coordination, and improving patient wellness. As a result, it is widely adopted by health organizations across the globe to retrieve data concerning different aspects of health system performance, such as patient outcomes, population health, and clinical quality. Besides this, it can help reduce medication errors, minimize administrative costs, and increase revenues.
Clinical Data Analytics Market Trends:
The increasing usage of electronic health records (EHRs) on account of rapid digitization in healthcare management has led to vast amounts of clinical data. This represents one of the key factors driving the need for clinical data analytics to streamline information and minimize human errors. This can also be attributed to the increasing application of EHR solutions in improving patient care coordination and accessing information in real-time due to a significant impact of coronavirus disease (COVID-19) on healthcare infrastructure worldwide. Apart from this, the emergence of m-health apps, in confluence with the increasing emphasis on high-quality personalized care in hospitals, is contributing to the market growth. Moreover, several health organizations are integrating clinical data analytics to address the challenges of changing governmental regulations while lowering healthcare costs and improving the overall quality of patient care. Besides this, rising investments in clinical studies of new drugs due to the growing prevalence of chronic diseases are anticipated to positively influence the demand for clinical data analytics across the globe.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global clinical data analytics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution, deployment mode, application and end user.
Breakup by Solution:
- Software
- Services
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Application:
- Quality Improvement and Clinical Benchmarking
- Clinical Decision Support
- Regulatory Reporting and Compliance
- Comparative Analytics
- Precision Health
Breakup by End User:
- Pharmaceutical Companies
- Healthcare Organizations
- Research Organizations
- Government Organizations
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare Solutions Inc., CareEvolution LLC, Cerner Corporation, Health Catalyst, International Business Machines Corporation, InterSystems Corporation, Koninklijke Philips N.V., Medeanalytics Inc., Sisense Inc., UnitedHealth Group Incorporated and Xerox Holdings Corporation.
Key Questions Answered in This Report:
- How has the global clinical data analytics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global clinical data analytics market?
- What are the key regional markets?
- What is the breakup of the market based on the solution?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global clinical data analytics market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Clinical Data Analytics Market
What is the estimated value of the Global Clinical Data Analytics Market?
What is the growth rate of the Global Clinical Data Analytics Market?
What is the forecasted size of the Global Clinical Data Analytics Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 10.8 Billion |
| Forecasted Market Value ( USD | $ 77.3 Billion |
| Compound Annual Growth Rate | 38.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Clinical Data Analytics Market
6 Market Breakup by Solution
7 Market Breakup by Deployment Mode
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Allscripts Healthcare Solutions Inc.
- CareEvolution LLC
- Cerner Corporation
- Health Catalyst
- International Business Machines Corporation
- InterSystems Corporation
- Koninklijke Philips N.V.
- Medeanalytics Inc.
- Sisense Inc.
- UnitedHealth Group Incorporated
- Xerox Holdings Corporation.
Methodology
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