360 MARKET UPDATES Report provides a 360-degree overview of the global Clinical Data Analytics Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Clinical Data Analytics Market – Segmented by Type of Deployment, Service (Consulting, Maintenance), End User (Pharmaceutical, Healthcare Providers, Biotechnology, Academia), and Region – Growth, Trends, and Forecast (2018 – 2023)”
Global “Clinical Data Analytics Market” is expected to register a CAGR of approximately 33.07% during the forecast period of (2018 – 2023). Also, Clinical Data Analytics Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Clinical Data Analytics Analysis.
Clinical Data Analytics market Report provides a 360-degree overview of the global Clinical Data Analytics market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Clinical Data Analytics Market Report Covers Leading Manufacturers: Athenahealth, Inc., Cerner Corporation, Forte Research Systems, IBM Corporation Company, InterSystems Corporation, Jubilant Clinsys, Koninklijke PhilipsN.V., MaxisIT Inc., McKesson/MedVentive, Oracle Corporation, The Advisory Board Company, Truven Health Analytics
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The global clinical data analytics market was valued at USD 2.97 billion in 2017 and is expected to reach a value of USD 16.58 billion by 2023 at a CAGR of 33.07% over the forecast period of 2018â2023. The scope of the report is limited to the type of deployment offered by major players, which includes cloud and on-premise. While the end users considered in the scope of the report include pharmaceutical, healthcare providers, biotechnology, and academia.
The healthcare industry, in recent years, has witnessed a paradigm shift, with the accelerated adoption of electronic health records (EHRs) leading to the integration of the physical world with the digital. Thus, pointing to a seismic shift in the volume and quality of clinical data. With the integration of analytics, the healthcare industry has been facilitated with the advantage to record valuable information and datasets ranging from patient preferences, individual medical history to therapies and procedures that have proven to be effective in treating specific diseases and injuries. The feasibility of preventive care over reactive care, provision of evidence-based treatment to patients, and facility of personalized care, are expected to be some of the driving factors for the growth of clinical data analytics in the Asia-Pacific region.
Technological Advancements in Healthcare
Many of the technologies used in medicine and healthcare have been undergoing high digitization and technological change. Many new developments such as electronic medical records, telemedicine, sensors and wearable technology, wireless communications, and other developments have aided in the use of clinical data analytics for better patient care and targeted drug usage. Many industry experts believe the medical industry is in a rapid change over to consumer focused services, which could further aid the development of clinical data analytics. Development of wearable technology is one of the primary factors enabling clinical data analytics. The success of wearable devices such as Fitbit, Pebble, Apple iWatch, and other consumer-grade fitness trackers has grabbed the attention of physicians. Many meaningful insights can be derived from the day-long recording of patientâs basic vital statistics. Apple sold over a million watches in China.
Pharmaceutical Industry the Primary Recipient of Clinical Data Analytics
Pharmaceutical companies, to tackle various regulatory requirements, falling R&D productivity, and to optimize the value chain, have been identified to integrate clinical data analytics to create competitive differentiation. Though the clinical data analytics market in the pharmaceutical industry is still in the nascent stage, the scenario is expected to change by 2020, to tackle problems related to site activation, on-site identification, and patient recruitment, to name a few. Clinical data analytics in the pharmaceutical industry decreases the time to market a drug, identifies and mitigates risks in the clinical trial process itself, adheres to various regulations and provides a single source of conclusion by integrating multiple data sources. These benefits have made clinical data analytics a preferred choice over conventional methodologies, thus, increasing its adoption.
China is a Major Market
Increasing patient pool, steadily increasing drug development costs and timelines, and a growing opportunity in the pharmaceutical industry has made China a hotspot for clinical data analytics in healthcare. Multi-national pharmaceutical companies, contract research organizations (CRO), academic institutions, and service providers have taken advantage of the recent regulatory changes in China, to establish their presence in the drug manufacturing industry, thereby paving a path for the growth of clinical data analytics in healthcare in the region. Owing to the benign new regulations, it is estimated that a total of 41% of the organizations conducted clinical trials in China in 2016, and around 33% of all the organizations raised the number of cases enrolled in China in the past two years, emphasizing the importance of clinical data analytics.
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Reasons to Purchase Clinical Data Analytics Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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