Clinical Data Analytics Market Size, Demand, Outlook, Trends, Revenue, Future Growth Opportunities Forecast 2022-2031

Market Overview

The global clinical data analytics market was valued at USD 5.29 billion in 2019 and is expected to register a CAGR of 33.07% over the forecast period.  Clinical data analytics in the healthcare sector plays a prominent role in curing and predicting diseases, which increases the quality of care and nullifies preventable deaths, which occur due to the negligence of some chronic diseases.

Availability of new technology and software, such as the internet of things (IoT)  and mHealth, has provided the patients with ease of access to a range of services. With the aid of these solutions, patients can track their health data and share it with their respective healthcare professionals for any further treatment.
The increasing number of healthcare groups are currently looking toward analytics solutions for effective population health management, which is expected to increase the demand for clinical data analytics over the forecast period.
Increasing security breaches and data theft, coupled with low internet penetration in developing countries, are expected to restrain the market over the forecast period.

Scope of the Report

Clinical data analytics help physicians take care of a patient’s health conditions better, as well as aid in understanding the health status of the patients concerned. The technology can vary according to the data involved or the users of the information or the actions, which are at the discretion of decision makers, such as nurses, doctors, public health officials, senior management, etc.
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Key Market Trends

Quality Improvement and Clinical Bench-marking to Hold Significant Share

Healthcare professionals have always had a great deal of information they could use, but that data was not easy to access manually due to the huge sheer volume of the data. With the advent of digitization, the ability to deconstruct data in medical imaging for analyzing can cause a drastic change in the healthcare industry.

Combining huge volumes and types of data along with the technological improvements for analyzing massive amounts of information is creating significant opportunities for improving healthcare quality across the globe.

Leveraging technologies like big data and utilizing computer systems such as IBM Watson allows analysis of verbal expressions, degradation in handwriting, facial expressions in predicting the disease among a host of other functions.

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