The global clinical data analytics market is predicted to reach a value of $11.85bn by 2022, predicted to grow at a CAGR of almost 31% over the forecast period of 2016–22, according to a report by Market Research Future.
The healthcare sector is increasingly turning to analytics to address needs such as claims and sorting through clinical data in order to provide higher quality care, Market Research Future stated.
"Clinical data analytics is a new approach which is shifting towards new payment models and the sheer amount of clinical data contained in Electronic Health Records," the report, Clinical Data Analytics Market Research Report- Global Forecast to 2022 explained.
"Nowadays, more and more healthcare professionals are looking towards analytics solutions for population management solutions," it added.
Market Research Future also found that by deployment model, on-premise holds the largest market share of global clinical data analytics and has predicted that this share will reach a value of almost $7.9bn by 2022. Additionally, according to the report, quality care holds the largest market share by application, anticipated to be worth $3.44bn by 2022.
As for the geographical market share, "North America accounted for largest market share in 2015 and is expected to reach $6.32bn by 2022", the report noted.
"APAC region is the fastest growing market for clinical data analytics, which is expected to grow at a CAGR of 31.42% during the forecast period from 2016 to 2022," Market Research Future added.