Dublin, Nov. 19, 2024 (GLOBE NEWSWIRE) -- The "Clinical Data Analytics Solutions Market by Solution, by Application, by End-user, and by Region" report has been added to ResearchAndMarkets.com's offering. This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global clinical data analytics solutions market accounted for USD 5.93 billion in 2023 and is expected to reach USD 22.33 billion by 2034 with a CAGR of 12.81% during the forecast period 2024-2034. The market will grow due to factors such as the growing demand for real-time data insights, the growing adoption of electronic health records, the growing emphasis on population health management, precision, and personalized medicine, strict regulatory requirements for clinical trials, and the growing need for cost-effective healthcare. 
The capabilities of clinical data analytics systems have been improved by technological developments including big data analytics, machine learning, and artificial intelligence. Healthcare organizations may now carry out complex studies, forecast unfavorable outcomes, customize treatment regimens, and streamline the delivery of healthcare. For instance, Comprehensive Layout for Exploration, Analysis, and Research (CLEAR) was introduced in August 2023 by PurpleLab, a healthcare analytics business. The solutions make analysis easier and utilize less data to produce insights.
North America is anticipated to have the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, government initiatives promoting healthcare IT adoption, and a high focus on research and development in the North American region.
Additionally, Asia-Pacific is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing investments in healthcare IT, rising adoption of digital health solutions, and growing demand for better healthcare outcomes in the Asia-Pacific region. For instance, in March 2024, Allscripts Healthcare Solutions, Inc. collaborated with a large healthcare system to establish a cloud-based clinical data analytics platform aimed at enhancing care coordination and optimizing costs.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Solution, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Major Players in the Clinical Data Analytics Solutions Market
- Cerner Corporation
- Epic Systems Corporation
- Allscripts Healthcare Solutions Inc.
- IBM Watson Health
- McKesson Corporation
- Optum Inc. (a part of UnitedHealth Group)
- Philips Healthcare
- SAS Institute Inc.
- Oracle Corporation
- Siemens Healthineers
- Medidata Solutions (a Dassault Systemes company)
- GE Healthcare
- Athenahealth Inc.
- Health Catalyst
- Nuance Communications Inc.
Clinical Data Analytics Solutions Market Analysis & Forecast by Solution 2023-2034 (Revenue USD Bn)
- Platform
- Cloud-based
- On-premise
- Services
- Consulting Services
- Integration and Implementation Services
- Support and Maintenance Services
By solution, the platforms segment accounted for the highest revenue-grossing segment in the global clinical data analytics solutions market in 2023 owing to the increasing adoption of cloud-based solutions and the demand for scalable and flexible analytics platforms. For instance, in May 2024, Cerner Corporation announced a partnership with an established pharmaceutical company to use Cerner's data analytics platform for practical data analysis in clinical trials.
Additionally, the services segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing need for specialized expertise, customization, and support services in implementing and managing clinical data analytics solutions.
Clinical Data Analytics Solutions Market Analysis & Forecast by Application 2023-2034 (Revenue USD Bn)
- Clinical Decision Support
- Precision Health
- Quality Improvement and Clinical Benchmarking
- Regulatory Reporting and Compliance
- Other Applications
By application, the clinical decision support (CDS) segment accounted for the highest revenue-grossing segment in the global clinical data analytics solutions market in 2023 owing to the growing emphasis on evidence-based medicine, patient safety, and improving clinical outcomes through data-driven insights provided by CDS solutions. For instance, IQVIA and Alibaba Cloud announced a collaboration in January 2023. Through enhancing the experience of its clients, this partnership is expected to increase IQVIA's regional presence in China.
Additionally, the precision health segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on personalized medicine, genomics, and targeted therapies for better patient outcomes and disease management.
Clinical Data Analytics Solutions Market Analysis & Forecast by End-User 2023-2034 (Revenue USD Bn)
- Pharmaceutical and Biotechnology Companies
- Hospitals
- Academic and Research Institutions
- Contract Research Organizations
- Government Agencies
By end-user, the pharmaceutical and biotechnology companies segment accounted for the highest revenue-grossing segment in the global clinical data analytics solutions market in 2023 owing to the growing demand for solutions to optimize drug development, clinical trials, pharmacovigilance, and regulatory compliance in the pharmaceutical and biotechnology sectors. For instance, Hartford HealthCare and Google Cloud established a long-term agreement in November 2022 to increase access and care delivery, drive digital transformation, and enhance data analytics.
Additionally, the hospitals and healthcare providers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of data-driven decision-making, value-based care models, and the need to improve patient outcomes and operational efficiency in healthcare delivery.
Clinical Data Analytics Solutions Market Analysis & Forecast by Region 2023-2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $5.93 Billion |
| Forecasted Market Value (USD) by 2034 | $22.33 Billion |
| Compound Annual Growth Rate | 12.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/pu1hyt
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
