◆英語タイトル：Clinical Data Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The Clinical Data Analytics Market is expected to grow at a CAGR of 33.07% over the forecast period 2021 to 2026. Clinical data analytics in the healthcare sector plays a prominent role in curing and predicting diseases, which increases the quality of care and nullifies preventable deaths that occur due to the negligence of some chronic diseases. mHealth technology is on the rise where user-reported data (what people say), task-based measures (devices which measure effort and physiology) as well as passive sensing (what people do day to day) are helping in gathering the data used for clinical data analysis, which is helping in the market growth.
- The market is also driven by constantly evolving industry regulations, the increasing pressures to reduce the costs of drug development, and rising demand for new therapies. As per the Avoca group, 65% of R&D activities were outsourced in 2021, and this trend is predicted to remain stable until 2021. The market is also witnessing patient-clinician-system engagement, which is contributing to the proliferation of electronic data recording systems and advancements in methods (such as randomized trials) – presenting an exciting opportunity for the market studied.
- Diabetes management is gaining importance for the past few years. In August 2019, Rensselaer Polytechnic Institute conducted a study using artificial intelligence and big data analytics to evaluate information from thousands of continuous glucose monitors and insulin pumps. The information can be used to improve the algorithms that control these devices, enhancing the lives of people with type 1 diabetes.
- There is an increasing trend of therapeutic-area Specific Modules being mapped to industry standards. For instance, clinical milestone modules, Disease-specific symptom modules and Disease-specific assessments (such as Urine GAG testing, MPS enzyme testing) are being mapped to MedDRA (Medical Dictionary for Regulatory Activities), WHODrug (WHO Drug Dictionary), CDISC (Clinical Data Interchange Standards Consortium), which is encouraging the trials in various therapeutic domains, hence, aiding in the market growth.
- Artificial Intelligence and Machine Learning are gradually becoming a part of the clinical data analytics market . One of the more promising potentials uses for using AI and ML in clinical trials is in the design phase. For instance, in January 2020 , Mayo Clinic announced the Clinical Data Analytics Platform as the first venture under the Mayo Clinic Platform . It is based on a federated architecture, which enables multiple participants to build a common, robust artificial intelligence and machine learning model without sharing datasets.
- Precision medicines are now more expensive to produce than traditional medicines, which leads to a squeeze in profit margin and increases pressure to produce a successful first-time submission and avoid any costs associated with resubmission. In the future, extended reality (XR) technologies are expected to become prevalent in trial operations. Goldman Sachs predicts that AR/VR use in the medical sector in 2025 will have revenues of USD 5.1 billion.
- Due to the spread of diseases, such as the recent spread of COVID -19 , it is expected that frequent clinic visits will soon be a thing of the past for patients on some clinical trials. Connected devices, advances in – home delivery, and improved virtual communication can be conducted as per patient’s convenience, and as a result, the data points for analysis will arise from multiple sources.
Key Market Trends
Cloud Deployment Model to Hold a Dominant Position in the Market
- The increased adoption of electronic records across a majority of healthcare institutions has driven the use of cloud-based solutions owing to its most intuitive advantage, which enables archiving and the use and analysis of patient records, information, and history with ease. Physicians are inclined toward cloud solutions as they enable secure collaboration between the patients and other hospital management since these solutions support mobile devices, web applications, and data access from multiple locations.
- The ability to use the cloud is not limited to the use of data from a single location but allows the collaborations of various data pools across the world. Healthcare organizations and pharmaceutical companies can thus leverage this advantage to gather insights on drug discovery or innovation based on history and present data available from the various healthcare data pools.
- Further, these solutions also reduce in-house storage costs that are incurred due to on-premise solutions, which may require a large number of data centers to store and process the data required for analysis. Cloud computing enables data aggregation across trials and sponsors. This data can be used to create benchmarks so data managers can see how their trial matches up against others in the same therapeutic area.
- Progress in genomic medicine will add more patient data to already increasing health data stores, and on-premises data warehouses can’t accommodate this additional information. To keep up with the data windfall, health systems will have to supplement on-premises data warehouse capacity with cloud-based solutions. With growing investment in R&D and increasing government budgets for research, there is a higher demand for high-powered data solutions with greater accuracy in providing insights.
- Companies are thus using big data to achieve this accuracy; however, this requires advanced computing power that can be leveraged using the cloud. For instance, in February 2020, Saama Technologies, the AI clinical analytics platform company, signed an agreement with Pfizer Inc. to develop and deploy an AIpowered analytics solution to reduce the challenges commonly experienced by clinical study data managers and monitors.
United States to be a Major Market
- The market in the United States is anticipated to see the most significant growth during the forecast period. The massive growth of the United States market is connected to developing federal healthcare mandates to control rising healthcare costs, growing regulatory obligations, increasing EHR adoption; and expanding government initiatives concentrating on personalized medicine, value-based reimbursements, and population health management.
- As per the ClinicalTrials.gov, in 2019, the United States alone accounted for 34% of the registered clinical studies worldwide. The collected data that is being generated from different sources need to be studied and analyzed for chalking out strategies for effective population health management. Moreover, the United States alone accounted for 37% of the registered recruiting clinical studies worldwide as of October 2019 as per the same source.
- Under the new rules by the US government for Medicare, hospitals and doctors will be subject to financial penalties under Medicare if they are not using electronic health records (EHR). Though the United States has always been known to be a pioneer in the use of advanced technologies for treating patients, doctors and hospitals have been slow to replace paper records with electronic records. These steps are being taken to put these EHRs to meaningful use. Enforcement of these new regulations is expected to provide impetus to the demand for clinical data analytics solutions in the region.
The Clinical Data Analytics Market is moderately competitive and has been gaining a competitive edge in recent years. In terms of market share, few of the major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability.
- Feb 2020 – IBM Watson Health launched its latest Cloud-based technology, IBM Study Advance, which has been designed to reduce the cost and time associated with clinical trials. The data-driven, study design tool IBM Study Advance optimizes clinical trial protocol design by integrating automated access to real-world patient data and standardizing the protocol template guidance.
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1.1 Study Deliverables and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Focus on Population Health Management
5.1.2 Government Healthcare Policies
5.1.3 Clinical Data Analytics Enabling Personalized Patient Care
5.1.4 Growing Need to Contain Healthcare Expenditure
5.2 Market Challenges
5.2.1 Lack of Infrastructural Facilities In Various Government And Private Hospitals
5.2.2 Low Internet Penetration in the Emerging Economies
5.3 Market Opportunities
5.3.1 Increasing Adoption of Electronic Data Recording System
5.4 Research Activity by Therapeutic Area
5.4.2 Central Nervous System (CNS )
5.4.4 Infectious Diseases
5.4.5 Other Therapeutic Areas
5.5 Industry Value Chain Analysis
5.6 Assessment of Impact of Covid-19 on the Industry
6 MARKET SEGMENTATION
6.1 By Deployment Model
6.2 By Application
6.2.1 Quality Improvement and Clinical Benchmarking
6.2.2 Clinical Decision Support
6.2.3 Regulatory Reporting and Compliance
6.2.4 Comparative Analytics/Comparative Effectiveness
6.2.5 Precision Health
6.3 By End-user Vertical
6.4.1 North America
22.214.171.124 United States
126.96.36.199 United KIngdom
188.8.131.52 Rest of Europe
6.4.3 Asia Pacific
184.108.40.206 South Korea
220.127.116.11 Rest of Asia Pacific
6.4.4 Latin America
18.104.22.168 Rest of Latin America
6.4.5 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Allscripts Health Solution
7.1.2 Inspirata Inc
7.1.3 CareEvolution Inc.
7.1.4 Cerner Corporation
7.1.5 Health Catalyst Inc.
7.1.6 IBM Corporation
7.1.7 Koninklijke Philips N.V
7.1.8 McKesson Corporation
7.1.9 Optum Inc.
7.1.10 Oracle Corporation
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS