Clinical Data Analytics Market
Wiseguyreports.Com Adds “Europe Clinical Data Analytics in Healthcare Growth Analysis 2016 And Market Forecasts 2020” Report To Its Research Database.
The Europe clinical data analytics market was valued at $630 million in 2014 and is projected to reach $5110 million by the end of 2020, at a compound annual growth rate of 41.77% over the six year forecasted period. In the recent years, healthcare has come a long way from giving a reactive response to standard, isolated incidents through subjective decision making. Clinical data covers data and information related to patients such as diagnosis, medicines prescribed, procedures and lab tests conducted, hospitalizations and treatments administered.
Clinical Data Analytics are used to help physicians to take decisions about the care of their patients or aid in better understanding the health of their covered populations. The technology varies according to the data involved or the users of the information or the actions which are at the discretion of decision makers who can be anyone or more of the following: Nurses, Doctors, Public Health Officials and Senior Management.
Today, Big Data in healthcare is overwhelming not only because of its volume but also because of the diversity of data types and the speed at which it must be managed. The totality of data related to patient healthcare and well-being make up “big data” in the healthcare industry. By discovering associations and understanding patterns and trends within this data, big data analytics can help in improving care, save lives, and lower costs.
Increasing focus of the population towards health management, supportive government policies, cost benefits, and the opportunity to provide better quality services to the patients are some of the factors fuelling the growth of the market. However, fragmented end-user market and software related privacy and security issues are some of the challenges faced in the clinical data analytics market.
The market for European clinical data analytics solutions has been segmented by deployment model, services and end-use sector. On the basis of deployment model, the market is bifurcated into cloud and on-premise models. Whereas, by services the market has been segmented into consulting and maintenance services. By end-use sector the market has been segmented into pharmaceuticals, healthcare providers, biotechnology and others.
The market has also been geographically segmented into different countries such as United Kingdom, Germany, Spain and Rest of Europe.
In 2015, Europe accounted for a market share of 28% in global Clinical Data Analytics Solutions. The growth was mainly led by Germany, Spain and United Kingdom with the remaining countries in European region contributing to 47% of the market. With new directives in place and clinical trials becoming more transparent, Europe will see a surge in the number of trials each year. The new bill approved by European parliament will make sharing the results of the trials mandatory within a year of the end of the trial. These steps have been taken to make Europe an attractive location for conducting clinical trials.
In Europe, the healthcare system is different in each country but it is run nationally. Many of the countries in Europe have universal health coverage and are publicly funded through taxation. On an average, the public expenditure on healthcare in this region will increase from 8% of GDP in 2000 to 14% in 2030. Healthcare sector is going to expand in the years to come because the ageing of the population is increasing. The proportion of Europeans aged 65 years and older will grow from 16% in 2000 to 24% by 2030. This huge increase in ageing population will increase the data available for the hospitals and the pharmaceutical companies.
Some of the companies mentioned in the report are IBM, Caradigm, CareEvolution, Cerner, athenahealth, InterSystems, Explorys and Truven Health Analytics. IBM held the largest market share among the different software vendors catering to Clinical Data Analytics Market, followed by athenahealth, InterSystems Corporation and Cerner Corporation.
Key Deliverables in the Study
- Market analysis for the Europe clinical data analytics in healthcare market, with country specific assessments and competition analysis on a country scales
- Market definition along with the identification of key drivers and restraints
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a country scale
- Extensively researched competitive landscape section with profiles of major companies along with their market shares
- Identification and analysis of the macro and micro factors that affect the Europe clinical data analytics in healthcare market on a country scales
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
- Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped
Table of Content
1.1 Study Deliverables
1.2 Market Definition
1.3 Sizing Untits
1.4 Base Currency
1.5 Review and Forecast Period Years
1.6 General Study Assumptions
- Research Methodology
2.2 Analysis Methodology
2.3 Econometric Forecast Model
2.4 Research Assumptions
- Executive Summary
- Market Overview
4.2 Technology Snapshot
4.3 Industry Value Chain Analysis
4.4 Growth Prospects
4.5 Factors Driving the Market
4.6 Factors Restraining the Market
4.7 Industry Attractiveness - Porter's 5 Force Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat from new entrants
4.7.4 Threat from substitute products
4.7.5 Competitive rivalry within the industry
4.8 Industry Policies
5 Market Insights
5.2 Europe Clinical Data Analytics in Healthcare by Deployment Model
5.3 Europe Clinical Data Analytics in Healthcare by Services
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