Clinical Intelligence Market Analysis: By Type (CDSS, Quality Improvement), Component (Service, Software), Application (Clinical, RCM), End User (Hospitals, Clinics, Tpas) – Global Forecast till 2023
Market Synopsis of the Global Clinical Intelligence Market
Clinical Intelligence, also known as clinical data analytics, is a blend of technologies involving the use of data analysis to improve healthcare delivery. The data is gathered at the time of delivery of care into the information system and then analyzed to determine the performance indicators that may affect the productivity of a healthcare organization. Analyses of clinical data is useful to know the loopholes in the organization’s processes that hinders its growth. Various technologies available for clinical intelligence provide data about the factors contributing to the success of delivery of care.
The Global Clinical Intelligence Market is expected to grow at a CAGR of 12.5% during the forecast period.
The market for clinical intelligence is expected to grow at an exponential rate owing to an increase in the adoption of healthcare IT, urge of the use of Electronic Heath Records (EHR), rising importance of software solutions in insurance claim processing and fraud detection. Furthermore, increasing number of software companies engaged in healthcare IT and EHR influences the market growth across the globe.
High cost of clinical intelligence software solutions may restrain the market growth in developing countries.
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Key Players in the Global Clinical Intelligence Market
- IBM (U.S.)
- Cerner Corporation (U.S.)
- Epic Systems Corporation (U.S.)
- Allscripts (U.S.)
- QSI Management, LLC (U.S.)
- General Electric Company (U.S.)
- eClinicalWorks (U.S.)
- McKesson Corporation (U.S.)
- Greenway Health, LLC (U.S.)
Segments
The global clinical intelligence market is segmented on the basis of type, components, application, and end user.
On the basis of type, market is segmented into retrospective performance measures & predictive analytics, performance measurement systems, Clinical decision support (CDSS) System, quality improvement, clinical benchmarking, population health management and others. Quality improvement is further segmented into six sigma. Population health management is further segmented into over-utilization of health services and under-utilization of health services.
On the basis of component, the market is segmented into software, hardware, and services.
On the basis of application, the market is segmented into Clinical, Revenue Cycle Management (RCM) claim, fraud, supply chain, financial management and others.
On the basis of end user, the market is segmented into hospital, clinics, TPAs, and others.
Regional Analysis of the Global Clinical Intelligence Market
America is the largest market for clinical intelligence owing to an increasing extensive use of software solutions for healthcare administration and available resources. North America accounts for the largest market share owing the presence of major healthcare IT companies enjoying global presence namely IBM, Allscripts, GE Electric Company and QSI Management, LLC. According to National Coordinator of Health Information Technology, patient engagement EHR functionalities became more prevalent in the U.S. hospitals from 2013 to 2015. Furthermore, the use of Decision Support System is found to be increasing among tertiary care centers in the U.S.
Europe is the second largest market for clinical intelligence which is estimated to adopt a steady growth in the near future due rising number of healthcare providers using clinical management softwares and technological advancement in healthcare IT especially EHR and patient engagement platform.
In Asia Pacific, the market is expected grow at the fastest rate with factors such as rising demand for healthcare IT, increasing healthcare expenditure and rising number of healthcare software solution providers. Furthermore, increasing burden of diseases and increasing demand for patient records management also boost the market growth during the review period.
The Middle East & Africa also show a steady rise in the market owing to low demand for healthcare IT, especially in Africa owing to low healthcare expenditure and need for primary care services.
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