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Clinical Data Analytics Solutions Market Projected to Reach USD 7.5 Billion by 2030, Driven by AI Integration and Increase in Clinical TrialsDUBLIN, March 13, 2024 /PRNewswire/ -- The "Clinical Data Analytics Solutions Market Size, Share & Trends Analysis Report By Deployment (Cloud-based, On-premise), By Application (Clinical Decision Support, Clinical Trials, Regulatory Compliance), By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering. The global clinical data analytics solutions market size is anticipated to reach USD 7.5 billion by 2030, expanding at a notable CAGR of 6.8% from 2024 to 2030. Major factors driving the market growth include the increasing need for advanced technologies in healthcare organizations, increasing focus on population health management, and a growing number of clinical trials. Increasing adoption of AI-powered clinical data analytics solutions in healthcare facilities and clinical research is a key driver of market growth. AI automation is vital in gathering and analyzing data from various sources, such as surveys, lab results, and patient records. AI algorithms enable rapid data analysis, delivering valuable insights that enhance the efficiency of clinical operations at multiple sites. For instance, in October 2022, Medidata utilized a big data modeling technique to identify lab markers that predict the development of severe cytokine release syndrome in patients undergoing chimeric antigen receptor T-cell therapy. The COVID-19 pandemic led to significant growth in the healthcare sector, fueled by rising demand for digital solutions and advanced analytics tools to manage the surge in patient data. Effectively handling the extensive clinical data generated during the pandemic was made possible through analytics platforms, enabling researchers and healthcare professionals to obtain better outcomes, predict trends, and gain deeper insights into disease transmission patterns. Key players in the market are engaged in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position. In March 2023, Syneos Health and KX formed a strategic partnership with the goal o enhancing clinical trial efficiency, reducing time to market, and lowering costs for effective patient therapies. This strategic partnership focuses on providing AI, ML, and data-driven predictive analytics capabilities through the industry's first Data Timehouse. Furthermore, this innovative data and AI management engine is designed to handle temporal data generated by digital transformation, helping customers make complex healthcare decisions. Key Market Dynamics Market Drivers
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Clinical Data Analytics Solutions Market Report Highlights
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