Press release
Global Clinical Informatics Market to Expand at 18.26% till 2023
Global Clinical Informatics Market 2023
The clinical informatics technology analyses and designs a method to implement and evaluate medical information harvested through communication systems which promotes the health of an individual and also helps regulate a general health consensus of a given population. It enables better healthcare insights and integrates or applies information technology for medical purposes. The clinical informatics system ensures the achievement of clinical objectives and promotes good industry practices as it provides efficient and reliable information as and when required. It has improved the relationship between patient and doctor and aids faster recovery.
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The rapid adoption of digital technology in the medical community has confirmed the advancement of digitalization. The management of patient records has become more convenient as this process has shifted from manual to electronic platforms. It has reduced a huge amount of labor and the information can be shared electronically among medical organizations for better perception and quicker remedies. The global clinical informatics market is expected to expand due to factors such as an increase in the number of patients in hospitals and a rise in funds generated to support research and development in this field. The medical community is geared towards more convenient and automated management of records to facilitate easy and swift diagnosis of patients.
The introduction of electronic health records (EHR) is rapidly growing among doctors and clinicians which bodes well for the clinical informatics market. It offers various benefits like better patient care and security for the records that ultimately heightens end-user satisfaction. Advancement in the technology of cloud computing systems and big data analytics further contributes to the growth of this market. Patients can independently monitor and access their health information through personal medical record (PMR). Innovation in the branch of precision medicines and greater adoption of information technology (IT) methods in medical research are compelling growth factors of the global clinical informatics market.
Rapid development in corresponding fields of clinical technology such as advanced visualization system and medical software applications that can be connected to EHRs are aiding the growth of this market. Several software vendors have initiated the development of supplier-neutral digital platforms that will enable nurses, doctors, and clinicians to access or share patient data easily over the internet.
At present, the market in North America owns a share of 50%. It is leading the global market due to its technological innovations and fast internet adaptation. However, Asia-Pacific is anticipated to witness a high growth rate during the forecasted period because of the increased demand for healthcare services in this region.
Some of the major players of 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.
Key highlights of this report:
1. Market scope and segmentation
2. Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and key market observations
3. Global market drivers and challenges
4. Global market trends
5. Evaluating market attractiveness
6. Porter's five forces analysis
7. Market segmentation based on technology (on-premise software, cloud-based software) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
8. Market segmentation based on application (diagnostics, pathology, pharmacies, patient monitoring) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
9. Market segmentation based on end users (hospitals, research laboratories, physicians, and specialty centers) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
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