Europe Clinical Data Analytics Market In Healthcare Market Size

Europe Clinical Data Analytics Market Analysis

The Europe Clinical Data Analytics Market In Healthcare Industry is expected to grow from USD 6.13 billion in 2024 to USD 22.65 billion by 2029, at a CAGR of 29.87% during the forecast period (2024-2029).

Clinical data analytics is used to help physicians make decisions about their patient's care or aid in better understanding the health of their covered populations.

• The increasing focus on the population towards health management, supportive government policies, cost benefits, and the opportunity to provide better quality patient services are factors fuelling the market growth.
• The increasing demand for clinical data analysts in the healthcare sector has helped minimize avoidable hospital readmission and move the treatment toward quality-based care.
• The constant government support and an established healthcare sector in the region, coupled with the growing demand for smart connected devices in the healthcare industry, is fueling the growth of Europe Clinical Data Analytics in the Healthcare Market's growth.
• The increasing digitization has also allowed various healthcare organizations to adopt big data analytics solutions, aiding healthcare providers in customizing treatment plans and reducing inefficiencies in clinical operations.
• Due to the high implementation and licensing costs of advanced analytics solutions, adoption is low among end users who are sensitive to price. The ability and resources to use big data effectively to provide actionable information are available to top hospitals.
• Healthcare­ organizations are increasingly adopting clinical data analytics solutions to gain insights and enhance­ patient care. In this context, safe­guarding sensitive patient information be­comes of utmost importance. Additionally, managing and protecting patie­nt information throughout the lifecycle of he­althcare data presents challe­nges due to its growing volume and comple­xity, which includes electronic he­alth records, medical imaging, and wearable­ device data.
• The pandemic positively impacted the market, increasing the importance of big data in the healthcare industry. Predictive and prescriptive analytics were used to develop models to estimate and predict the emergence of subsequent waves of COVID-19 infection spread in different world regions.