June 23, 2024

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Clinical Data Analytics Market Set to Witness a Rugged Expansion by 2027

Clinical data analytics market players and analysis by deployment model, application, end-user and region – forecast till 2027.

The global clinical data analytics market is riding on a prospect of achieving a 30.90% CAGR during the forecast period (2020-2027), reveals Market Research Future (MRFR) in an elaborately studied report. The market is further predicted to surpass a valuation of USD 26.58 billion by 2027. The healthcare segment is benefitting much from the inclusion of such analytics process as it eases the settling process of claims and provides easy access to data.

The adoption of Big Data analytics, AI, and IoT in the healthcare industry is anticipated to have a significant positive impact on the clinical data analytics market. The market’s potential is also being fueled by the expanding demand for improved patient care and a streamlined workflow. Such significant tractions are anticipated to benefit the clinical data analytics market greatly.

Competitive Landscape:

Influential players to impact the global clinical data analytics market are Xerox (U.S.), Cerner (U.S.), Athenahealth Inc. (U.S.), McKesson (U.S.), International Business Machines Corporation (U.S.), and others. These companies indulge in a lot of strategic developments that would help both the company and the market in progress. Their tactical moves would include merger, acquisition, collaboration, product launch, innovation, joint venture, and other methods.

Segmental Analysis:

MRFR’s analysis of the global clinical data analytics market is founded upon segmentation by deployment model, application, and end-users. The attempt secures growth study on the basis of volume and value which would provide a holistic view of the entire market.

Based on the deployment model, the global clinical data analytics market can be segmented into on-premise and cloud-based. The cloud-based model is gaining popularity owing to its cost-effective approaches and better handling procedures. The on-premise model can surpass a valuation of USD 7,862.48 million by 2022.

Based on the application, the clinical data analytics market comprises clinical detection support, quality care, population health management, precision health, and reporting and compliance. The quality care segment is ruling the global market sphere with a predicted USD 3,443 million worth by 2022.

Based on the end-user, the clinical data analytics market consists pharmaceutical companies, healthcare providers, academics & research institutes and others. The healthcare providers segment is expected to promote substantial growth as they are implementing the technology more to provide better healthcare support to patients.

Regional Analysis:

Region-specific data collection, as conducted by MRFR, reveals namely four regions, North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The report would make it easier to seek out growth pockets that would increase the profit margin of investors.

Superior technology and healthcare infrastructure, along with well-structured digitization process are factors to better the market prospect of North America. The presence of the U.S. is expected to play a significant role during the forecast period as it is the leading country in the region to provide traction. North America’s market is helming the global market and is expected to scale a valuation of USD 6,293.2 million by 2027. High healthcare investment, integration of Big Data, AI, and IoT, are some reasons to propel the regional market growth. These reasons do play well for Europe as well.

The growing economies that make up the APAC region provide a solid foundation for the industry by continuously improving their infrastructure. The market is expected to grow at the fastest rate during the projected period, at 31.42%. The demand for the market’s incorporation of clinical data analytics is being driven by several nations that are becoming major centres for medical tourism.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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