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Clinical Data Analytics Solutions Market Size

Report ID: GMI9275
Published Date: Apr 2024
Report Format: PDF

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Clinical Data Analytics Solutions Market Size

Clinical Data Analytics Solutions Market size was valued at USD 5.9 billion in 2023 and is anticipated to showcase growth at 12.8% CAGR from 2024 – 2032, owing to increasing adoption of electronic health records (EHRs), rising demand for real-time data insights to enhance patient outcomes, and growth in clinical studies for developing new therapeutics.

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Additionally, growing demand for mitigating the risk of failures in clinical studies is also fueling the adoption of clinical data analytics solutions, as these studies are resource intensive, and failures can lead to significant losses for pharmaceutical companies and research organizations.

Clinical data analytics involves analyzing healthcare data, including EHRs, medical imaging, lab results, and patient demographics, to derive valuable insights for improved patient care, decision-making, and streamlined operations. Advanced analytics tools like machine learning and predictive modeling help healthcare institutions uncover trends and patterns, leading to better clinical outcomes, cost-efficiency, and population health management.

Clinical Data Analytics Solutions Market Report Attributes
Report Attribute	Details
Base Year:	2023
Clinical Data Analytics Solutions Market Size in 2023:	USD 5.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	12.8%
2024 – 2032 Value Projection:	USD 17.9 Billion
Historical Data for:	2021 – 2023
No. of Pages:	118
Tables, Charts & Figures:	215
Segments covered:	Solution, Application, End-use, and Region
Growth Drivers:	Increasing adoption of electronic health records (EHRs) Rising demand for real-time data insights to enhance patient outcomes Growth in clinical studies for developing new therapeutics Growing demand for mitigating the risk of failures in clinical studies
Pitfalls & Challenges:	Security and privacy concerns related to clinical data Issues related to data quality and integration

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Clinical data analytics solutions market size was valued at USD 5.9 billion in 2023 and is anticipated to showcase 12.8% CAGR from 2024 – 2032, owing to increasing adoption of electronic health records (EHRs) and the rising demand for real-time data insights to enhance patient outcomes.

The pharmaceutical and biotechnology companies segment in the clinical data analytics solutions industry is anticipated to grow at 13% CAGR during 2024-2032, driven by increasing adoption to optimize trial design, streamline recruitment processes, and identify suitable patient populations.

North America clinical data analytics solutions market accounted for 63.4% share and is predicted to reach USD 11.1 billion by 2032, attributed to increasing number of drug approvals by the regulatory organizations such as the U.S. Food and Drug Administration (FDA).

Allscripts Healthcare Solutions, Inc., CareCloud Corporation, Cerner Corporation, Dassault Systèmes, eClinical Solutions LLC, Inspirata Inc., IQVIA Inc., Medeanalytics, Inc., Medical Information Technology Inc., Optum, Inc., Oracle Corporation, Qsi Management LLC, SAS Institute, Inc., Truven Health Analytics, Inc. and Verisk Analytics, Inc.