Clinical Informatics Market

The clinical informatics market is projected to reach USD 563.18 billion by 2030 from USD 231.45 billion in 2024, at a high CAGR of 16.0% during the forecast period. Increasing government support for adopting automation in healthcare and growing telehealth & remote patient monitoring are the main reasons for the growth of this market. As in the covid-19 pandemic healthcare providers needed to maintain social distancing measures with patients, technologies like remote patient monitoring which allow healthcare providers to track patient’s health from a distance, became crucial during this time. Moreover, increasing adoption of Electronic Health records (EHR) and growing pressure to reduce healthcare spending have pushed the demand for clinical informatics solutions.

The Clinical Informatics market is dominated by key players. The major players operating in this market are, UnitedHealth Group (US), Koninklijke Philips N.V. (Netherlands), GE HealthCare (US), Cognizant (US), Oracle (US), Epic Systems Corporation. (US), ExlService Holdings, Inc. (US), EClinicalWorks (US), Medical Information Technology, Inc. (US), Siemens Healthineers (Germany), TruBridge. (US), Veradigm (US), AdvancedMD (US), athenahealth, Inc. (US), Merative (US), NVIDIA Corporation (US), AGFA HealthCare (Belgium), NXGN Management LLC (US), InterSystems Corporation (US), McKesson Corporation (US), Dedalus S.p.A. (Italy), IQVIA (US), SAS Institute Inc. (US), Wipro (India), Health Catalyst. (US), Tempus (US), Practice Fusion, Inc. (US), MedeAnalytics, Inc. (US), Medecision (US), Chartis (US), Allara Health (US), Surgical Information Systems (Georgia), Anumana, Inc. (US), Memora Health Inc. (US), and MediView XR, Inc. (US).

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UnitedHealth Group.

UnitedHealth Group, one of the world's largest healthcare companies, has revenue of about USD 372 billion for the year 2023. Optum (Part of UnitedHealth Group) a health services company, completed a merger with Change Healthcare in October 2022 of a USD 7.8 billion. which gives them access to data from millions of healthcare transactions and boosts their clinical capabilities for the US population. Now the company operates through four business segments: Optum Health, Optum Insight, Optum Rx, and UnitedHealthcare. It offers healthcare products and insurance services and caters to various healthcare providers, such as hospitals, doctors, pharmacies, health plan organizations, and life science companies. The company brought over 900,000 new patients into their value-based care, health benefits, health tech, financial services, and pharmacy services in 2023 only. They care for more than 62 million people through private and government-run health programs and handle more than USD 500 million in annual payments.

Koninklijke Philips N.V.

Koninklijke Philips N.V. (Royal Philips) is the parent company of the Philips Group. The company works in four areas: Personal Health, Diagnosis & Treatment, Connected Care, and Others. The company aims to grow in both natural ways and by buying other businesses to increase its market presence. Strategic partnerships in high-potential markets and collaborations have been Philips’ key growth strategy over the years. For example, in November 2023, Philips and NYU Langone Health partnered to focus on patient safety and outcomes. The collaboration integrated innovative health technologies, including digital pathology, clinical informatics, and AI-enabled diagnostics, enabling real-time collaboration among clinicians. Philips has developed partnerships with many large healthcare companies and promising AI start-ups in the healthcare industry, spread across various geographies. In October 2023, Philips collaborated with the World Stroke Organization (WSO) to prevent, treat, and rehabilitate strokes. It emphasized awareness, education, and advocacy. Among its significant subsidiaries are Philips Oral Healthcare, LLC (US), Philips GmbH (Germany), Philips Ultrasound, Inc. (US), and Philips Consumer Lifestyle B.V. (Netherlands).

GE Healthcare

GE HealthCare is a global medical technology, pharmaceutical diagnostics, and digital solutions innovator. The company’s products, solutions, and services span the continuum of patient care, including screening, diagnosis, treatment, and monitoring. Its customers include healthcare providers and researchers, including public, private, and academic institutions. It sells to a global sales team as well as its network of partners and distributors and other third-party companies. By the end of January 2023, GE completed the separation of HealthCare as an independent company capable of issuing stock in the public markets. The company operates in more than 170 countries across the Americas, Europe, Asia, and the Middle East & Africa. Its subsidiaries include Dynamic Imaging, LLC (US), Whatman plc (UK), Image Diagnostic International GmbH (Germany), Clarient, Inc. (US), Thomas Medical Products, Inc. (US), Orbotech Medical Solutions Ltd. (Israel), and Biacore International AB (Sweden). The company serves customers in over 160 countries, conducts R&D in 18 countries, and manufactures its products in 20 countries worldwide. The company has a geographical presence in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

Related Reports:

Clinical Informatics Market by Function (EHR, Clinical Workflow, PHM, Telehealth, CDSS, Diagnostic, Analytics), Therapeutic Area (Onco, Neuro, Cardio), Component (Software), Deployment (Cloud), End-user (Hospital, ASC), & Region - Global Forecast to 2030

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