The market insights of the global Clinical Data Exchange market report helps with the successful launch of new product. With this report, it gets easy to attain information about customer demographics which forms the core of any business. However, it is made sure that customer information is kept secret. The report efficiently gathers, analyzes and interprets information about a market, about a product or service to be offered for sale in that market. Potential customers for the product or service and their characteristics, spending habits, location and needs of the business’s target market, the industry as a whole, and the particular competitors faced are also studied in this Clinical Data Exchange report.
Global clinical data exchange market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growing levels of incidents associated with theft of clinical and medical data.
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Few of the major competitors currently working in the global clinical data exchange market are Information Builders and docero; Halfpenny Technologies Inc; Experian Information Solutions, Inc.; PNT Data; Health Level Seven International; New England Healthcare Exchange Network, Inc.; Optum, Inc.; McKesson Corporation; IBM Corporation; Microsoft; Guardtime; iSolve, LLC; Patientory; Accenture; Proof.Works; Iryo d.o.o.; Allscripts Healthcare LLC; Open Text Corporation; Orion Health group of companies among others.
Key Developments in the Market:
- In June 2019, Accumen announced that they had acquired Halfpenny Technologies, Inc. This acquisition will lead to addition of enhanced capabilities to the combined enterprise, helping provide better quality of performance and operational capabilities. This will lead to delivery of next generation of health care services and solution
- In September 2018, Da Vinci Project was formed with the combination of more than twenty healthcare organizations. The project will be focused on utilizing Health Level Seven International’s “HL7 Fast Healthcare Interoperability Resources (FHIR)” for improving the quality of data-communication for value-based care arrangement
Market Drivers
- Increasing utilization of blockchain technology from the healthcare industry is expected to drive the growth of the market
- Rising prevalence of counterfeit drugs floating in the market; this factor is expected to boost the growth of the market
- Requirement for better secured storage solutions also acts as a market driver
- Enhanced levels of support being provided by various government authorities to improve the availability of infrastructure for deployment of advanced technologies will also uplift the market growth
Market Restraints
- Lack in the awareness and infrastructure availability in various developing regions; this factor is expected to restrict the growth of the market
- Concerns regarding the data’s privacy amid high volume of data thefts will also hamper the market growth
- Requirement of large-scale investments and expenditure for establishment of infrastructure and other resources for successful operations of clinical data exchange is another factor restricting the market growth
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Segmentation: Global Clinical Data Exchange Market
By Component
- Enterprise Master Person Index (EMPI)
- Healthcare Provider Directory (HPD)
- Record Locator Service (RLS)
- Clinical Data Repository
- Others
By Implementation Model
- Centralized/Consolidated Model
- Decentralized/Federated Models
- Hybrid Model
By Setup Type
By Exchange Type
- Direct Exchange
- Query-Based Exchange
- Consumer Mediated Exchange
By Application
- Internal Interfacing
- Secure Messaging
- Work Flow Management
- Web Portal Development
- Others
By End-User
- Pharmaceutical Companies
- Healthcare Providers
- Public Health Agencies
- Healthcare Payers
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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