The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 120 pages.
Quadintel recently published a new research report on the Clinical Informatics Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Clinical Informatics Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
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The global clinical informatics market is projected to grow at a compound annual growth rate (CAGR) of 18.26% from 2018 to 2023 and reach a market value of USD 33.31 Billion in 2023.
Clinical informatics is transforming the healthcare industry by integrating information technology with informatics to enhance interoperability, digitization, patient data management, and treatment procedures. As a result, physicians can make informed decisions, leading to improved patient outcomes.
The on-premises software market held the largest share of around 58% in 2017, due to its widespread availability and usage. However, the cloud-based software segment is expected to grow at a higher CAGR of 19.63% during the forecasted period due to the increased adoption of cloud-based platforms providing better security, storage, and efficiency.
The diagnostics market had the largest share in the application segment in 2017, contributing 39% to the market revenue. The growth of the diagnostics segment has primarily been driven by the increasing popularity of non-invasive procedures, advanced visualization systems, and technological improvements in clinical informatics products. The diagnostics market is expected to witness the highest CAGR (18.41%) among all application segments during the forecasted period, followed by the patient monitoring segment (CAGR of 18.30%).
In 2017, the hospitals segment had a global market share of approximately 38% and is expected to experience the highest growth rate (18.58%) during the 2018-2023 period. This is due to increasingly strict but favorable government policies mandating the implementation of electronic health records (EHR) across hospitals, coupled with funding and incentives. The physicians’ segment is also expected to experience significant growth.
North America has been leading the market with its technological innovations, accounting for approximately 50% of the global market. However, Asia-Pacific is expected to have the highest growth rate during the forecasted period due to increased demand for healthcare services in this region, growing patient numbers, rising government funding for health-related IT services, and health awareness.
Major players in the global clinical informatics market include Cerner Corp, Agfa HealthCare Corp, Allscripts, Cardinal Health, CNSI, Spok, Inc. (Formerly Amcom Software), Meditech, eClinicalWorks, Nuance Communications, and West Corporation.
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The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
This report covers several key questions related to the global market, including:
- What can be expected for the market in the next decade?
- What are the primary drivers of growth in the global market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the market vary based on the size of the end market?
- What is the breakdown by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the market?
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