Global Clinical Data Analytics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global clinical data analytics market size reached US$ 14.7 Billion in 2022. Looking forward, the market is expected to reach US$ 93.8 Billion by 2028, exhibiting a growth rate (CAGR) of 36.19% during 2022-2028.

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

This research provides an analysis of the key trends in each sub-segment of the global clinical data analytics market report, along with forecasts at the global, regional and country level from 2023-2028. The 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
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• 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

1. What was the size of the global clinical data analytics market in 2022?
2. What is the expected growth rate of the global clinical data analytics market during 2023-2028?
3. What has been the impact of COVID-19 on the global clinical data analytics market?
4. What are the key factors driving the global clinical data analytics market?
5. What is the breakup of the global clinical data analytics market based on the solution?
6. What is the breakup of the global clinical data analytics market based on the deployment mode?
7. What is the breakup of the global clinical data analytics market based on the application?
8. What is the breakup of the global clinical data analytics market based on the end user?
9. What are the key regions in the global clinical data analytics market?
10. Who are the key players/companies in the global clinical data analytics market?