Top Companies in Clinical Informatics Market: UnitedHealth Group (US) and Koninklijke Philips N.V. (Netherlands) are the Leading Players

The Clinical Informatics market is dominated by key players. The major players operating in this market are, UnitedHealth Group (US), Koninklijke Philips N.V. (Netherlands), GE HealthCare (US), Cognizant (US)
The global clinical informatics market, valued at US$198.33 billion in 2023, is forecasted to grow at a robust CAGR of 16.0%, reaching US$231.45 billion in 2024 and an impressive US$563.18 billion by 2030. Advanced technologies in healthcare are growing due to the increasing use of such technologies, and AI and big data are very important in that regard. The increasing use of digital tools in healthcare, such as data from medical devices, electronic health records, and billing information, is creating vast amounts of data that AI can study to make things better and faster. Such government actions, such as President Biden's order in October 2023 to create guidelines for AI in healthcare, are supporting new ideas and helping to develop a skilled workforce. AI tools are also crucial in handling disease outbreaks. The World Health Organization uses AI to make early warning systems and epidemic predictions better, which helps improve healthcare decisions.

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The Clinical Informatics market is dominated by key players. The major players operating in this market are, UnitedHealth Group (US), Koninklijke Philips N.V. (Netherlands), GE HealthCare (US), Cognizant (US), Oracle (US), Epic Systems Corporation. (US), ExlService Holdings, Inc. (US), EClinicalWorks (US), Medical Information Technology, Inc. (US), Siemens Healthineers (Germany), TruBridge. (US), Veradigm (US), AdvancedMD (US), athenahealth, Inc. (US), Merative (US), NVIDIA Corporation (US), AGFA HealthCare (Belgium), NXGN Management LLC (US), InterSystems Corporation (US), McKesson Corporation (US), Dedalus S.p.A. (Italy), IQVIA (US), SAS Institute Inc. (US), Wipro (India), Health Catalyst. (US), Tempus (US), Practice Fusion, Inc. (US), MedeAnalytics, Inc. (US), Medecision (US), Chartis (US), Allara Health (US), Surgical Information Systems (Georgia), Anumana, Inc. (US), Memora Health Inc. (US), and MediView XR, Inc. (US).

UnitedHealth Group.

UnitedHealth Group, one of the world's largest healthcare companies, has revenue of about USD 372 billion for the year 2023. Optum (Part of UnitedHealth Group) a health services company, completed a merger with Change Healthcare in October 2022 of a USD 7.8 billion. which gives them access to data from millions of healthcare transactions and boosts their clinical capabilities for the US population. Now the company operates through four business segments: Optum Health, Optum Insight, Optum Rx, and UnitedHealthcare. It offers healthcare products and insurance services and caters to various healthcare providers, such as hospitals, doctors, pharmacies, health plan organizations, and life science companies. The company brought over 900,000 new patients into their value-based care, health benefits, health tech, financial services, and pharmacy services in 2023 only. They care for more than 62 million people through private and government-run health programs and handle more than USD 500 million in annual payments.

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Koninklijke Philips N.V.

Koninklijke Philips N.V. (Royal Philips) is the parent company of the Philips Group. The company works in four areas: Personal Health, Diagnosis & Treatment, Connected Care, and Others. The company aims to grow in both natural ways and by buying other businesses to increase its market presence. Strategic partnerships in high-potential markets and collaborations have been Philips' key growth strategy over the years. For example, in November 2023, Philips and NYU Langone Health partnered to focus on patient safety and outcomes. The collaboration integrated innovative health technologies, including digital pathology, clinical informatics, and AI-enabled diagnostics, enabling real-time collaboration among clinicians. Philips has developed partnerships with many large healthcare companies and promising AI start-ups in the healthcare industry, spread across various geographies. In October 2023, Philips collaborated with the World Stroke Organization (WSO) to prevent, treat, and rehabilitate strokes. It emphasized awareness, education, and advocacy. Among its significant subsidiaries are Philips Oral Healthcare, LLC (US), Philips GmbH (Germany), Philips Ultrasound, Inc. (US), and Philips Consumer Lifestyle B.V. (Netherlands).

GE Healthcare

GE HealthCare is a global medical technology, pharmaceutical diagnostics, and digital solutions innovator. The company's products, solutions, and services span the continuum of patient care, including screening, diagnosis, treatment, and monitoring. Its customers include healthcare providers and researchers, including public, private, and academic institutions. It sells to a global sales team as well as its network of partners and distributors and other third-party companies. By the end of January 2023, GE completed the separation of HealthCare as an independent company capable of issuing stock in the public markets. The company operates in more than 170 countries across the Americas, Europe, Asia, and the Middle East & Africa. Its subsidiaries include Dynamic Imaging, LLC (US), Whatman plc (UK), Image Diagnostic International GmbH (Germany), Clarient, Inc. (US), Thomas Medical Products, Inc. (US), Orbotech Medical Solutions Ltd. (Israel), and Biacore International AB (Sweden). The company serves customers in over 160 countries, conducts R&D in 18 countries, and manufactures its products in 20 countries worldwide. The company has a geographical presence in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

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