Clinical Data Analytics Solutions Market To Reach $7.5 Billion By 2030

Clinical Data Analytics Solutions Market Growth & Trends

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, according to a new report by Grand View Research, Inc. 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 partnershipwith 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. 

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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

Clinical Data Analytics Solutions Market Segmentation

Grand View Research has segmented the global clinical data analytics solutions market based on deployment, applications, and region:

Clinical Data Analytics Solutions Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise

• Cloud-based

Clinical Data Analytics Solutions Application Outlook (Revenue, USD Million, 2018 - 2030)

• Clinical Decision Support

• Clinical Trials

• Regulatory Compliance

• Others

Clinical Data Analytics Solutions Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Clinical Data Analytics Solutions Market

• Optum, Inc. (UnitedHealth Group)

• SAS Institute Inc.

• IQVIA

• Health Catalyst

• eClinical Solutions LLC

• JMP Statistical Discovery LLC.

• OSP

• BD

• Dassault Systems

• Cognizant