The clinical data analytics solutions global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Clinical Data Analytics Solutions Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The clinical data analytics solutions market size has grown strongly in recent years. It will grow from $4.97 billion in 2023 to $5.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to growth in demand for mitigating the risk of failures in clinical studies, adoption of clinical data analytics, growth in focus on personalized medicine, and increased volume of clinical data, and increasied number of drug approvals.
The clinical data analytics solutions market size is expected to see rapid growth in the next few years. It will grow to $8.04 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to the increasing need for advanced technologies, the growing number of clinical trials, the rising prevalence of chronic diseases, the increasing focus on population health management, the rise in personalized patient care, rising demand for new diagnostic tests and medical treatments. Major trends in the forecast period include clinical data analytics solutions, the introduction of AI-powered clinical data analytics systems, innovative technologies for patient care, and innovation in medical imaging technology.
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Scope Of Clinical Data Analytics Solutions Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Clinical Data Analytics Solutions Market Overview
Market Drivers –
The rising prevalence of chronic diseases is expected to propel the growth of the clinical data analytics solutions market going forward. Chronic diseases are long-lasting medical conditions that persist over an extended period of time, typically for three months or more. The prevalence of chronic diseases is on the rise due to several factors, such as the aging population, environmental factors, and genetic predisposition. Clinical data analytics solutions enable the early detection and diagnosis of chronic diseases by analyzing large datasets to identify patterns and risk factors. For instance, in September 2023, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, each year there are 41 million deaths worldwide, accounting for 74% of all fatalities attributed to chronic diseases. This includes 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Therefore, the rising prevalence of chronic diseases is driving the growth of the clinical data analytics solutions market.
Market Trends –
Major companies operating in the clinical data analytics solutions market are focusing on the introduction of innovative solutions, such as SaaS-based platforms, to bring modern data and analytics approaches to clinical trial data processes. The SaaS-based platform automates the delivery of data intelligence to clinical trial workflows, empowering stakeholders to make smarter decisions about study design, site selection, site risk, and targeted deployment of monitoring resources. For instance, in June 2021, Iqvia Holdings Inc., a US-based healthcare company, launched the Clinical Data Analytics Suite (CDAS), a new SaaS-based platform that combines structured and unstructured data from clinical trials into a single, standardized setting for easier access and use. This produces a scalable repository that helps meet regulatory requirements, enabling stakeholders to investigate operational and clinical data. CDAS automates the transmission of data intelligence to clinical trial workflows, allowing stakeholders to make more informed decisions about study design, site selection, site risk, targeted deployment of monitoring resources, and other factors.
The clinical data analytics solutions market covered in this report is segmented –
1) By Solution: Platform, Services
2) By Deployment: On-Premise, Cloud-Based
3) By Application: Clinical Decision Support, Precision Health, Quality Improvement And Clinical Benchmarking, Regulatory Reporting And Compliance, Other Applications
4) By End-Use: Pharmaceutical And Biotechnology Companies, Providers, Payers, Other End-Users
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Regional Insights –
North America was the largest region in the clinical data analytics solutions market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical data analytics solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the clinical data analytics solutions market are UnitedHealth Group, Alphabet Inc., McKesson Corporation, Microsoft Corporation, Optum Inc., Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Hewlett-Packard Company, Siemens Healthineers, Koninklijke Philips N.V, GE Healthcare Technologies Inc., Dassault Systemes SE, Change Healthcare, SAS Institute Inc., Hitachi Vantara Corporation, Teradata, Cotiviti Inc., Allscripts Healthcare LLC, Inovalon Holdings Inc., Keyrus Life Science, Health Catalyst Inc., Komodo Health, MedeAnalytics Inc., arcadia.io, Inspirata Inc., Truven Health Analytics Inc.
Table of Contents
1. Executive Summary
2. Clinical Data Analytics Solutions Market Report Structure
3. Clinical Data Analytics Solutions Market Trends And Strategies
4. Clinical Data Analytics Solutions Market – Macro Economic Scenario
5. Clinical Data Analytics Solutions Market Size And Growth
…..
27. Clinical Data Analytics Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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