The Global Clinical Data Analytics Market Research Report provides detailed analysis of the key regional market status of the Healthcare Industry.
The Analysis presents the study of Global Clinical Data Analytics Market facilitating the regional and country wise analysis covering the strategic analysis of each market player and the market share they hold
The global Clinical Data Analytics Market is expected to reach USD 11,853.6 million by the end of the forecasted period and is expected to grow at a CAGR of 30.90%.
Global Clinical Data analytics Market:
In the coming years, it is expected that the global clinical data analytics market will advance with higher growth rate as compared to previous years. Rising pressure to curb healthcare costs has fuelled the growth of the market for Clinical data analytics market.
The major vendors of this market are Athenahealth Inc. (U.S.), Cerner (U.S.), International Business Machines Corporation (U.S.), McKesson (U.S.), Xerox (U.S.) and others.
Healthcare industry has generated large amounts of data, driven by record keeping. Data from the U.S. healthcare systems alone has reached 150 Exabyte in 2011. By understanding the trends and the patterns within the data, healthcare systems can improve quality care of patients and curb healthcare costs. Clinical analytics helps to upgrade patient outcomes and minimizes the avoidable readmissions in hospitals. It helps hospitals to move towards value based quality of care.
The market for clinical data analytics is segmented into four major regions. As per Market Research Future Analysis, North America accounts for major market share in the clinical data analytics in the healthcare sectors, with major countries being the U.S. and Canada. Europe acquires the second largest market share, with countries such as the Germany and France acquiring the major market share. Asia Pacific region is currently sluggish in implementing clinical data analytics in the healthcare sector but estimated to grow at a faster pace in future. The Middle East and North Africa currently acquire the lowest market share.
The global clinical data analytics market has been evaluated as a growing market and it is expected that the market will touch high growth figures. Increasing the technological advancements in mHealth and IoT and rising number of government initiatives are some of the factors driving this market. The Global Clinical Data Analytics Market is expected to reach USD 11,853.6 million in 2022.
Global Clinical Data Analytics Market has been segmented on the basis of deployment model which comprises of on-premise and cloud based. On the basis of application the market is segmented into quality care, population health management, clinical detection support, precision health and reporting and compliance. On the basis of end user, the market is segmented into pharmaceutical companies, healthcare providers, academics & research institutes and others.
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The global market for Clinical data analytics is growing steadily. The market for clinical data analytics is growing with the CAGR of 30.90% during the forecast period from 2016-2022. North America accounts for largest market share in 2015 and is expected to reach USD 6,293.2 million by 2022. This is attributed to the factors such as emanation of big data in healthcare, establishment of healthcare policies by government, increase in clinical data management for better healthcare outcomes, increasing technological advancements and growing research and development for precision medicines. Europe is the second largest market with the market value of USD 505.8 million in 2015.
Asia-Pacific region is the fastest growing market for clinical data analytics, which is expected to grow at a CAGR of 31.42% during the forecast period from 2016 to 2022. Increasing awareness regarding the use of big data analytics by the healthcare providers has spurred the growth of clinical data analytics in this region.
TABLE OF CONTENTS
1.1 Scope Of Study
1.2 Research Objective
1.3 Assumptions & Limitations
1.4 Market Structure
2 RESEARCH METHODOLOGY
2.1 Primary Research
2.2 Secondary Research
3 MARKET DYNAMICS
3.2.1 Government Initiatives To Promote Big Data Will Spur The Growth Of This Market
3.2.2 Technological Advancements (Mhealth, IoT And Wearable Devices) Will Boost The Growth Of The Market
3.2.3 Pressure To Curb Healthcare Costs Has Fuelled The Growth Of The Market
3.3.1 Reluctance To Share Information Regarding The Health With The Third Party Has Limit The Growth Of The Market
3.3.2 Power Backup Issues With Big Data Accessing Smart Devices Will Restraint The Growth Of The Market
3.4.1 Increasing R&D For Precision Medicine Will Strengthen The Market For Clinical Data Analytics
3.4.2 Value Based Care Will Spurred The Growth For Clinical Data Analytics
3.5.1 Lack Of Interoperability Among Data Source Generators
3.5.2 Adhering To The Regulatory Requirements
3.5.3 Big Data Collection And Its Privacy Concerns
4 MARKET FACTOR ANALYSIS
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Bargaining Power Of Suppliers
4.1.4 Threat Of Substitute Products Or Services
4.1.5 Rivalry Among Existing Firms
4.2 Value Chain Analysis
4.2.1 Healthcare Data
4.2.2 Healthcare Data Processing
4.2.3 Healthcare Data Reporting
4.2.4 Advanced Analytics Solutions
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