Article -> Article Details
Title | Clinical Data Analytics Market – Growing Trade Among Emerging Economies Opening New Opportunities |
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Category | Fitness Health --> Addictions |
Meta Keywords | Clinical Data Analytics Market |
Owner | vinit |
Description | |
The Clinical
Data Analytics Market size is growing profusely. The largest market
share attributes to the rapidly accumulating structured and unstructured data
in the burgeoning healthcare sector. Besides, rising uptake of technology
analytics services, such as descriptive and predictive/ prescriptive in
healthcare organizations to handle data sets, foster the market growth. According to Market Research Future (MRFR), the global
clinical data analytics market is poised to create a valuation of USD 26,586.99
MN by 2025. In its recent clinical data analytics market forecast, MRFR
foretells the market growth would register a whopping double-digit CAGR of
30.90 % during the forecast period (2019-2025). Government initiatives like the
release of data from agencies like the FDA and CDC to help research activities
increase the clinical data analytics market size. Additionally, increasing government initiatives and funding
from private sectors for the development of clinical data analytics boost the
growth of the market. Also, advances in mHealth, the Internet of Things (IoT),
and wearables increase the market demand. Moreover, increasing pressure to curb
healthcare costs influences the growth of the market. On the other hand,
prohibitive prices of big data analytics is a significant factor expected to
impede the market growth. Clinical Data
Analytics Market Segmentation By Deployment Model, the clinical data analytics market is
segmented into On-Premise and Cloud-Based. By Application, the clinical data analytics market is
segmented into Quality Care, Population Health Management, Clinical Decision
Support, Precision Health, Reporting & Compliance, among others. By End User, the clinical data analytics market is segmented
into Pharmaceutical Companies, Healthcare Providers, Academics & Research
Institutes, and others. Clinical Data
Analytics Market Competitive Landscape Highly competitive, the global clinical data analytics
market appears fragmented due to the presence of several well-established
players. To gain a larger competitive share, industry players incorporate
strategic initiatives such as mergers & acquisitions, collaboration,
expansion, and product/technology launch. Technology providers invest
substantially in the development of novel technologies and upgrades. Industry
players focus on optimized situational awareness for customers to ensure their
mission success. Clinical Data
Analytics Market Regional Analysis North America dominates the global clinical data analytics
market. The largest market share attributes to the increasing advances in
information technology and the early adoption of advanced healthcare IT.
Besides, the strong presence of many big data companies and well-established
healthcare sectors in the region foster market growth. Moreover, the federal
government’s reforms of healthcare policies and increased focus on big data
management substantiate the North American clinical data analytics market. Europe stands second in the global clinical data analytics
market. The market is driven by rising medical expenses and demand to
curb rising healthcare costs. Increasing per capita medical expenditures drive
the clinical data analytics market in the region. Also, the presence of better
healthcare facilities and rapid advancements in healthcare IT propel the
regional market’s growth. The European clinical data analytics market is
projected to create a substantial revenue pocket during the estimated period. The clinical data analytics market in the Asia Pacific
region is growing rapidly. Factors such as the increasing clinical trials and
the aging population in this region drive the market growth. Furthermore,
increasing patient pool demands using healthcare data analytics to manage big
data substantiates regional market growth. China and India are leading markets
in the region with large unmet needs. The APAC clinical data analytics market
is expected to grow at a modest CAGR during the review period. Clinical Data
Analytics Industry/Innovation/Related News: IBH Population Health Solutions, a national leader in
behavioral health technology and services, launched its new Provider Clinical
Data Analytics technology platform, developed in partnership with Lyssn.io,
Inc. The new technology utilizes artificial intelligence (AI) and machine
learning to improve the quality and outcomes of talk therapy counseling. This
program was the newest initiative from IBH’s Dysruption lab, a corporate
incubator IBH created, enabling rapid prototypes and deploys new clinically
validated advancements in healthcare delivery. Lyssn creates AI-enabled technology solutions that can
examine and support therapy’s effectiveness by offering ongoing feedback and
skill development for psychotherapy professionals. Practice variability is
high, and conformance to evidence-based protocols is particularly challenging
to assess in care delivered via the spoken word. |