Clinical IT Systems Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMHCIT72 | Last Updated On: Jun 09 2022 | Available Formats

> Global Clinical IT Systems Market Expected to reach a high CAGR of 14% during the forecast period 2022-2029: DataM Intelligence.

Global Clinical IT Systems Market is segmented By Product (Computerized Physician Order Entry system, Laboratory Information System, Radiology Information System, Pharmacy Information System, Picture Archiving and Communication System, Electronic Medical Records System), By Platform Type (Web-based, Cloud-based), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Clinical Information Systems Market is expected to grow at a CAGR of 14% during the forecast period (2022-2029)  

Clinical Information Systems are applied at the point of clinical care. Clinical IT is a healthcare information system is used by doctors, nurses, and other healthcare providers to offer clinical care to patients. Clinical informatics is the application of information technology to deliver healthcare services. It is also referred to as applied clinical informatics and operational informatics.

Clinical informatics scope is broad, which includes topics from clinical decision support to visual images such as radiological, pathological, dermatological, ophthalmological, and others, from clinical documentation to provider order entry systems, and from system design to system implementation and adoption issues.

Market Dynamics

The Increasing number of clinical trials is one of the key factors driving the Clinical IT Systems Market, due to the easy access to information from anywhere.

According to the FDA, in 2016, around 0.35 million clinical trial practices happened in the US. The US accounts for 31% of clinical trials practices compared to the global practices.           

In 2013 the number of clinical trials done in India was 17, which was approved by the Drug Controller General of India (DCGI), the number had slowly increased to 97 in 2017, and it is estimated to be more than 400% in the next five years.

Market Segmentation

Based on platform type, the global market for clinical IT systems is broadly segmented as web-based and cloud-based.

Currently, cloud-based clinical IT systems are the dominant segment and it accounts for approximately XX% of the market, due to the increasing launch of cloud-based clinical IT systems.

For instance, in December 2018, NextGen Healthcare, Inc., the leading provider of ambulatory-only healthcare technology solutions, introduced NextGen Health Data Hub, a cloud-based Health Information Exchange (HIE) platform that supports the sharing and aggregation of patient health data. The ability of Health Data Hub to work with any data management interface allows it to connect disparate systems.

In September 2018, Nuance Communications, Inc., introduced Nuance CDE One. CDE One is cloud-based workflow management, collaboration, and insight system designed for clinical documentation improvement (CDI). CDE One’s artificial intelligence (AI)-powered capabilities enable smarter workflows and collaboration, satisfaction, and efficiency.

In March 2016, Royal Philips, introduced IntelliSpace Console Critical Care, a cloud-based clinical decision support dashboard supporting enhanced workflows in the intensive care unit (ICU). IntelliSpace Console is designed to improve critical care with smart clinical decision making, enhanced patient monitoring, and tracking of quality metrics.

Geographical Analysis

The Clinical IT Systems Market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

North America is dominating the Clinical IT Systems Market, due to the strategic alliance between companies to develop new clinical IT systems and increase their revenue.

For instance, in December 2018, 3M entered into a definitive agreement to acquire the technology business of M Modal, for a total enterprise value of $1.0 billion. M Modal is a leading healthcare technology provider of cloud-based, conversational Artificial Intelligence (AI)-powered systems that help physicians efficiently capture and improve the patient narrative so they can spend more time with their patients and provide a higher quality of care.

In October 2016, Dapasoft, partnered with Microsoft Gold and introduced Corolar Cloud. Corolar Cloud enables healthcare CIOs to securely onboard the latest mobile healthcare apps and Internet of Things (IoT) solutions for improving the quality of care and reducing the cost of care.

Competitive Analysis

The increasing launch of new clinical IT systems is one of the key factors driving the Clinical IT Systems Market.

For instance, in January 2019, Fujitsu introduced the SaaS solution clinical DDworks21/Trial Site. The new solution provides hospitals and other clinical trial sites in Japan with shared cloud-based control of documents conventionally exchanged in paper form between pharmaceutical companies developing new drugs and the sites conducting the clinical trials.

In April 2018, Oracle introduced its Oracle Health Sciences mHealth connector cloud service designed to aid clinical study teams in remotely collecting data from patient sensors, wearables, and apps for use in clinical trials. The system is designed to improve the ease of collecting data from several clinical systems and sources. The system will also allow for the collection of patient data concerning adherence to study protocols and improved remote patient monitoring.

The major players include Epic Systems Corporation, Cerner Corporation, iMDsoft Inc., Allscripts Healthcare Solutions, Inc., eClinicalWorks, LLC, GE Healthcare, NextGen Healthcare Information Systems, LLC, Athenahealth, Inc., Mednet Solutions, Inc., and ClinicMaster INTERNATIONAL.

 

Trending Topics

Clinical Decision Support System Market

Clinical Trial Management System Market

Remote Patient Monitering Market

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