The Global Clinical Intelligence Market is expected to grow at a CAGR of 12.5% during the forecast period 2018-2023.
Clinical Intelligence, also known as clinical data analytics, is a blend of technologies involving the use of data analysis to improve healthcare delivery. The data is gathered at the time of delivery of care into the information system and then analyzed to determine the performance indicators that may affect the productivity of a healthcare organization. Analyses of clinical data is useful to know the loopholes in the organization’s processes that hinders its growth. Various technologies available for clinical intelligence provide data about the factors contributing to the success of delivery of care.
The market for clinical intelligence is expected to grow at an exponential rate owing to an increase in the adoption of healthcare IT, urge of the use of Electronic Heath Records (EHR), rising importance of software solutions in insurance claim processing and fraud detection. Furthermore, increasing number of software companies engaged in healthcare IT and EHR influences the market growth across the globe.
High cost of clinical intelligence software solutions may restrain the market growth in developing countries.
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Major Players in Clinical Intelligence Market:
Some of the key players in the global market are IBM (U.S.), Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Allscripts (U.S.), QSI Management, LLC (U.S.), General Electric Company (U.S.), eClinicalWorks (U.S.), McKesson Corporation (U.S.), and Greenway Health, LLC (U.S.)
America is the largest market for clinical intelligence whose market is driven by concentration of major market players such as IBM, Allscripts, Cerner Corporation and demand for clinical data analytics.
Europe is the second largest market which is driven by the extensive use of healthcare IT software solutions and availability of healthcare infrastructure for implementing healthcare IT solutions.
Asia Pacific is expected to be the largest market for clinical intelligence owing to the rising awareness about Electronic Health Records (EHR), and growing demand for cost effective software solutions for hospitals, and clinics. Additionally, demand outreaching supply will create growth opportunity for the market in Asia Pacific and major market players should focus on emerging markets such as China, and India.
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Middle East & Africa show steady growth in the market owing to low technology penetration in this region and lack of awareness about healthcare IT.
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.4 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.2 Bargaining Power of Suppliers
4.3 Bargaining Power of Buyers
4.4 Threat of New Entrants
4.5 Threat of Substitutes
4.6 Intensity of Rivalry
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