Clinical analytics refers to the capture and use of discrete clinical data to identify and measure quality, patient safety or service line efficiencies and improvements. Clinical analytics has the potential of transforming the healthcare industry and taking the healthcare industry one step closer to timely, effective, equitable, and excellent care.
Global Healthcare Clinical Analytics Market-Market Dynamics
Healthcare is undergoing a transition from an era where patient outcome data was locked in manual forms and databases to an era where aggregate clinical data is available for knowledge discovery, clinical decisions are supported by synthesized information, and healthcare processes and outcome are more transparent. This transformation has enabled healthcare to benefit from highly advanced analytical, statistical and mathematical tools.
Some of the factors fueling the growth of the healthcare clinical analytics market are:
High adoption rates of electronic record systems such as EHR and EMR
Emergence of evidence-based medicine
Integration of big data in healthcare
Ever-increasing clinical data
Need for cutting cost and increasing efficiency
The technology also has certain constraints to overcome, such as:
Lack of infrastructure for handling and computing loads of data
High cost of initial investments
Lack of properly trained IT professionals in healthcare sector
Data integrity and safety concerns
The technology has several opportunities as well. These include:
Introduction and implementation of Electronic Health Records (EHR)
Rising investments in venture capital funds
Implementation of trends in the medical-IT field, such as precision medicines, EHR, analytics-driven personalized medicines, clinical DSS, health and disease management, and so on
Emphasis on healthcare in emerging economies
Technological advancements in the field of clinical analytics will uncover more advanced and sophisticated analytical techniques, which will make data handling, computing and reporting efficient and less time-consuming. But to reach that stage, we still need to address the challenge of coming up with a standard method of data input. Standardization will convert data into information and then the analytical method will be able to come up with actionable insights by analyzing this information.
The global healthcare clinical analytics market is segmented on the basis of technology (predictive analytics, prescriptive analytics, and descriptive analytics), application (regulatory reporting, compliance and transparency, quality improvement, clinical decision support, population health management, comparative effectiveness, public health surveillance), component (software, hardware, and services), deployment (on-premise model and cloud-based model), end-user (private organization (hospitals, clinics, laboratories), government organization, pharmaceuticals, biotechnology and research institutions), and geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
The primary stakeholders of this technology are healthcare IT firms, healthcare analytics vendors, care organizations, health insurance providers, healthcare payers, healthcare providers, research firms, consultants, ambulatory services, and venture capitalists.
Some of the key players in the market are:
Allscripts Healthcare solutions, Inc.
Key Deliverables in the Study
Market analysis for the healthcare clinical analytics market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the healthcare clinical analytics market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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