Clinical Data Analytics Solutions Market Projected to Reach USD 7.5 Billion by 2030, Driven by AI Integration and Increase in Clinical Trials

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Mar 13, 2024, 20:30 ET

DUBLIN, March 13, 2024 /PRNewswire/ -- The "Clinical Data Analytics Solutions Market Size, Share & Trends Analysis Report By Deployment (Cloud-based, On-premise), By Application (Clinical Decision Support, Clinical Trials, Regulatory Compliance), By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global clinical data analytics solutions market size is anticipated to reach USD 7.5 billion by 2030, expanding at a notable CAGR of 6.8% from 2024 to 2030. Major factors driving the market growth include the increasing need for advanced technologies in healthcare organizations, increasing focus on population health management, and a growing number of clinical trials.

Increasing adoption of AI-powered clinical data analytics solutions in healthcare facilities and clinical research is a key driver of market growth. AI automation is vital in gathering and analyzing data from various sources, such as surveys, lab results, and patient records. AI algorithms enable rapid data analysis, delivering valuable insights that enhance the efficiency of clinical operations at multiple sites. For instance, in October 2022, Medidata utilized a big data modeling technique to identify lab markers that predict the development of severe cytokine release syndrome in patients undergoing chimeric antigen receptor T-cell therapy.

The COVID-19 pandemic led to significant growth in the healthcare sector, fueled by rising demand for digital solutions and advanced analytics tools to manage the surge in patient data. Effectively handling the extensive clinical data generated during the pandemic was made possible through analytics platforms, enabling researchers and healthcare professionals to obtain better outcomes, predict trends, and gain deeper insights into disease transmission patterns.

Key players in the market are engaged in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position. In March 2023, Syneos Health and KX formed a strategic partnership with the goal of enhancing clinical trial efficiency, reducing time to market, and lowering costs for effective patient therapies. This strategic partnership focuses on providing AI, ML, and data-driven predictive analytics capabilities through the industry's first Data Timehouse. Furthermore, this innovative data and AI management engine is designed to handle temporal data generated by digital transformation, helping customers make complex healthcare decisions.

Key Market Dynamics

Market Drivers

Increasing need for advanced technologies in healthcare organizations
Growing number of clinical trials
Increasing focus on population health management
Rising prevalence of chronic diseases

Market Restraints

Data privacy and theft issues
Lack of skilled professionals

Clinical Data Analytics Solutions Market Report Highlights

Based on deployment, the cloud-based segment dominated with the largest market share of 55.58% in 2023 and is anticipated to be the fastest-growing segment over the forecast period owing to the increasing adoption of user-friendly technology and cost-effectiveness
Based on application, the clinical trials segment held the largest market share in 2023, owing to the increasing awareness of the benefits associated with the adoption of clinical data analytics solutions
In 2023, North America dominated the clinical data analytics solutions industry. This was attributed to the region's advanced healthcare infrastructure and government support through policies and initiatives

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Clinical Data Analytics Solutions Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Clinical Data Analytics Solutions Market Analysis Tools

Chapter 4. Clinical Data Analytics Solutions Market: Deployment Estimates & Trend Analysis
4.1. Definitions and Scope
4.2. Segment Dashboard
4.3. Global Clinical Data Analytics Solutions Market by Deployment Outlook
4.3.1. Cloud-based
4.3.2. On-premise

Chapter 5. Clinical Data Analytics Solutions Market: Application Estimates & Trend Analysis
5.1. Definitions and Scope
5.2. Segment Dashboard
5.3. Global Clinical Data Analytics Solutions Market by Application Outlook

Chapter 6. Clinical Data Analytics Solutions Market: Regional Estimates & Trend Analysis
6.1. Regional Market Share Analysis, 2023 & 2030
6.2. Regional Market Dashboard
6.3. Regional Market Snapshot
6.4. Market Size, & Forecasts, Volume and Trend Analysis, 2018 to 2030:

Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company/Competition Categorization
7.3. Key Company Market Share Analysis, 2023
7.4. Key Company Market Position Analysis, 2023
7.5. Company Profiles

Optum
SAS Institute
IQVIA
Health Catalyst
eClinical Solutions
JMP Statistical Discovery
OSP
BD
Dassault Systems
Cognizant

For more information about this report visit https://www.researchandmarkets.com/r/gipjl8

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