Global Clinical Data Analytics Market Size 2021 Top Manufacturers, Share, CAGR Status, Growth, Key drivers, Types and Applications with Covid-19 Impact till 2027

Overview

Clinical data analytics are software used by software companies to extract patient data from hospitals, research institutes, and government organizations. It can identify massive numbers of the global populace by their patient data and assist in timely action. The global clinical data analytics market report by Market Research Future (MRFR) takes a look at the advances in the technology and makes estimations for the period of 2019 to 2027 (forecast period). The use of these analytics in stemming the spread of the COVID-19 virus has also been included in the report.

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Market Scope

The global clinical data analytics market is expected to register a CAGR of 30.90 % and is anticipated to reach USD 26,586.99 million by 2027. Major factors driving market growth include technological strides in collection of clinical data, rising prevalence of cardiovascular disorders, and the large aging populace. Clinical data analytics plays an important role in prevention of deaths caused by unknown diseases. A prime example is the sudden propagation of the COVID-19 virus. The spread was controlled in some countries due to the data pertaining to patient symptoms, patient health, and other metrics. Technologies such as mHealth and internet of things (IoT) can facilitate in data collection.

But high costs can restrict market growth.

Segmentation

The global clinical data analytics market has been segmented into deployment model, application, and end user.

Based on the deployment model, the market has been segmented into on-premise and cloud-based. The on-premise segment accounted for a market value of USD 2356.2 million in 2016.

Based on application, the market has been segregated into precision health, clinical decision support, quality care, population health management, and reporting & compliance.

Based on end-user the market has been segmented into academics & research institute, pharmaceutical companies, and healthcare providers.

Regional Analysis

The global clinical data analytics market, based on region, has been divided into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas is pegged to be the leading region in the global clinical data analytics market during the forecast period. This is attributed due to adoption of the well-developed technology, large healthcare expenditure, and the presence of the leading players in the market.

Europe accounted for the second-largest market for clinical data analytics. Rising investment in research & development, well-developed healthcare infrastructure, and rise in healthcare expenditure can drive the regional market growth. Ample training resources and exposure to data standardization to make physicians and patients understand data privacy and governance can bode well for the market.

APAC is projected to be the fastest-growing market due to the large patient pool, shift towards digitization of patient data, and adoption of new healthcare business models. In addition to this, improvements in healthcare facilities and steady economic growth rates of countries are positively impacting the market growth in this region. Japan held a market share of 33.9% in 2016.

The market in the Middle East & Africa is expected to witness steady growth due to increasing investments in research & development, well-developed infrastructure, and advancement in technology.

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Competition Outlook

McKesson, Xerox, Cerner, International Business Machines Corporation, and Athenahealth, Inc. are key players of the global clinical data analytics market. Partnerships and collaborations are key to sustain in the market amid the continuous evolution of technologies such as big data, IoT, artificial intelligence, and others.

The COVID-19 Command Center analytics platform developed by Saama Technologies and iNDC.Ai pooled technology can expedite the internal R&D programs for creating treatments for COVID-19 virus.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half- Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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