Clinical Data Analytics Market Trends, Segmentation and Future Growth to 2023
Added: (Fri Nov 23 2018)
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Clinical Data Analytics Market Overview
Clinical Data Analytics assist the doctors and physicians in taking decisions regarding patient’s care and help for better understanding of the healthiness of the demographics. The technology varies, according to the data required or the potential users of the information which includes nurses, doctors, and public health officials etc.
The market is showing major potential in the mentioned forecasting period. The market continue to grow rapidly with the growth of big data industry within the healthcare. Big data has been responsible for showing the better results in improving healthcare, saving lives and that too at low costs.
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The population is getting more focused towards the health management lately. It has been a major factor in driving the market for the Clinical Data Analytics. Other factors include supportive government policies, cost benefits and better opportunities to provide the high quality services to patients. Some of the challenges and restraints faced by the Clinical Data Analytics, market include end user market fragmentation, software privacy issues, and security issues.
Clinical Data Analytics Market Forecast Report (2018-2023)
Global Clinical Data Analytics Market was worth was USD 5.52 billion in 2018 and estimated to be growing at a CAGR of 44.35%, to reach USD 34.6 billion by 2023.
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Clinical Data Analytics Market Segmentation
The Global market for Clinical Data Analytics is segmented based on the Deployment Model, Services and End Use Sector. Based on deployment model, the market for Clinical Data Analytics is segmented into the Cloud and On-Premise. On-Premise segmentation accounted for the higher share compared to the Cloud segmentation. Further, under services the segmentation is done into Consulting and Maintenance, and under End use sector, the segmentation is done into Pharmaceuticals, Healthcare Providers, Biotechnology and the Academia. Similarly Consulting and the Pharmaceuticals segmentations exhibit the highest share in their respective segments.
On the basis of geographical analysis, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Clinical Data Analytics market is expected to be dominated by the North America, with overall market share of over 55% globally, followed by Europe and Asia Pacific. Asia Pacific is expected to show higher potential in the upcoming years.
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Key Developments in the Market
March 2018 –Clinigence and MedConnect have partnered to bring more value-based programs for the clinical data analytics. These products also help in the risk mitigation as the products keep maturing.
Major Players:
Some of the major key players dominating the Clinical Data Analytics segment in the current market are
Allscripts Health Solution Inc.
Caradigm
CareEvolution, Inc.
Cerner Corporation
Health Catalyst
IBM Corporation
Koninklijke Philips N.V
McKesson Corporation
Optum Inc.
Oracle Corporation
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