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Healthcare Clinical Analytics Market 2016: industry Trends, Outlook, Opportunity Till 2022

Press Release

There is an increased use of big data in the healthcare arena, where such records are effectively analysed and conclusions are drawn that makes the entire healthcare system efficient and transparent. Clinical analytics refers to the capture and use of discrete clinical data for quality improvement and clinical benchmarking; clinical decision support; regulatory reporting and compliance. By using this technology, healthcare providers can improve the efficiency of their decision making process by using data-driven decision-making, removes preventable costs and streamlines the whole system.

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Presently, clinical data is available in the digital form which enables highly progressive statistical, analytical and mathematical tools to garner high-value information. The end users for healthcare analytics includes healthcare providers, pharmaceuticals, health insurance companies, clinical and medical research bodies/CROs, Biotechnology and others.

Market Dynamic:
Themajor growth drivers for global healthcare clinical analytics marketare integration of big data in healthcare, increasing adoption rates of electronic healthcare records, availability of data in digital form, emergence of evidence-based medicine, emphasis on healthcare in emerging economies, return of investments within a short time, technological advancements, increasing usage of data sharing platforms such as social media platforms, blogs, and professional networks and need for cutting cost and increasing efficiency.

Restraints:
Some restraining factors for this market are lack of infrastructure for handling and computing loads of data, large initial investments, uncertainty of returns, lack of properly trained IT professionals in healthcare sector and data integrity and safety concerns.

Market Segmentation:
The various market segments can be derived on the basis of application, technology, component, deployment and end-user.
On the Basis of Application:
Regulatory reporting
Compliance and transparency
Quality improvement
Clinical decision support
Population health management
Comparative effectiveness
Public health surveillance
On the Basis of Technology:
Predictive analytics
Prescriptive analytics
Descriptive analytics
On the Basis of Component:
Software
Hardware
Services
On the Basis of Deployment:
On premise model
Cloud-based model
On the Basis of End-user:
Private organization (hospitals, clinics, laboratories)
Government organization
Pharmaceuticals
Biotechnology
Research institutions

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Regional/Geographic Analysis:
The market is segmented into North America, Europe, Latin America, Asia Pacific except Japan, Japan, and Middle East and Africa. The North America is expected to dominate the market. North America will be followed by Europe. The large share of the market in these regions can be attributed to factors such as well-established healthcare infrastructure, growing healthcare mandates to curb rising healthcare costs, growing EHR adoption, and rising government initiatives and increasing adoption of predictive and prescriptive analytics.

Key Players:
The key market players in the market are –
Allscripts Healthcare Solutions Inc.
Cerner Corp.
Elsevier B.V.
IBM Corp.
Inovalon
Mckesson Corp
Optum Inc.
Oracle Corporation
SAS Institute Inc.
Truven Health Analytics Inc.
Verisk Analytics

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