(PharmaNewsWire.Com, December 01, 2017 ) The North America Clinical Data Analytics Market was worth $1.46 billion in 2016 and estimated to be growing at a CAGR of 43.31%, to reach $8.81 billion by 2021. The market is showing significant potential in the mentioned forecasting period. The market continues to grow rapidly with the growth of Big data industry within the healthcare. Big data has been responsible for showing better results in improving healthcare, saving lives and that too at low costs.
Clinical Data Analytics has been a crucial assistance for doctors and physicians in making important decisions regarding patient’s care and providing better understanding of the health of the demographics. The technology shows variation according to the data that is required or the potential users of the information provided which includes doctors, nurses, public health officials etc.
The population has been showing more focus towards health management lately and hence It has been one of the major factors in driving the growth of the market for Clinical Data Analytics. Other important factors contributing to the market growth include supportive government policies, cost benefits and better opportunities to provide high quality services to patients. The challenges and restraints faced by Clinical Data Analytics market include software privacy issues, end user market fragmentation, security issues.
The North America market for Clinical Data Analytics is segmented based on Deployment Model, Services and End Use Sector. Based on the deployment model the market for Clinical Data Analytics is segmented into Cloud and On-Premise. Further, under services the segmentation is done into Consulting and Maintenance, and under End use sector the segmentation is done into Pharmaceuticals, Healthcare Providers, Biotechnology and Academia. On-Premise segmentation accounted for higher share compared to the Cloud segmentation. Similarly Consulting and Pharmaceuticals segmentations exhibit the highest share in their respective segments. On the basis of geographical analysis, the North America market is analysed under various countries namely United States and Canada.
The major players of the market that have shown domination in recent years include IBM, CareEvolution, Intersystems, Explorys, Cerner, Caradigm, Truven Health Analytics, Wellcentive, McKesson, Athenahealth.
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