The Global Healthcare Analytics Market is estimated to have a CAGR of 25 % within the forecasted period according to the report published by Value Market Research. The rise in focus on the increase in patient outcomes along with the minimal healthcare cost is the prime factor driving the market growth. The constructive support by the government for medical analysis along with advancements in technology to impart ease in collecting healthcare data is further responsible for boosting the growth of the market. Also, the increase in the adoption of information systems by several healthcare organizations for improvements in business operation and clinical care is assumed to help enhance the market growth in the forecasted period.
Analytics is a term used to refer to the process of systematically using data and related insights developed through analytical models such as statistical, cognitive, contextual, predictive and quantitative to start fact-based decision making for planning, measurement, management and learning. These analytics might be predictive, descriptive, or prescriptive. Healthcare analytics refers to the analysis of data that is collected regarding the behavior of the patient and diagnoses, claims and cost, clinical data and other such healthcare activities. The data is usually collected from electronic health records and is further used for making better decisions. It also helps to increase the patient's experience, provides real-time data and estimates future outcomes in a cost-effective way and thus, helps to improve the probability of success.
The report “Global Healthcare Analytics Market Report By Type (Descriptive Analysis, Predictive Analysis And Prescriptive Analysis), By Component (Hardware, Software And Services), By Delivery Mode (On-Premises, Web-Hosted And Cloud Based), By Application (Clinical, Financial, Operational And Administrative), By End-Use (Healthcare Payers, Healthcare Providers And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026” covers the global healthcare analytics market with an in-depth outlook on the market growth, trends, dynamics and forecasts for the period from 2020 to 2026.
By type, descriptive analysis, predictive analysis and prescriptive analysis are the segments of the global healthcare analytics market where descriptive analysis has emerged as the leading segment as per the report owing to being a major holder of the market shares.By component, hardware, software and services are the segments of the global healthcare analytics market.On-premises, web-hosted and cloud-based are the segments of the global healthcare analytics market as per the report where on-premises has been identified as the leading segment as per the study owing to to the easily customizable nature of on-premise solutions, as compared to on-demand models.By application, clinical, financial and operational & administrative are the segments of the global healthcare analytics market.
Application-wise financial has emerged as the leading segment as healthcare organizations are increasingly focusing on cutting costs and implementing processes that ensure the profitability of their operations. This has created a significant demand for financial analytics as it provides healthcare organizations with relevant knowledge about effective budgeting, forecasting, and revenue cycle management.Based on end-use, healthcare payers and healthcare providers are the classifications of the global healthcare analytics market where healthcare payers has been identified as the leading segment as per the report owing to factors such as rising healthcare costs, the growing need to increase memberships, to curb fraudulent claims, optimize provider networks, and operational costs and increasing competition are compelling healthcare payers to adopt analytics solutions.
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the regional segments of the global healthcare analytics. North America has been identified as the global leader of the healthcare analytics market owing to the high and growing adoption of healthcare analytics solutions and services by healthcare providers (especially in the US) in the region.The report further also focuses on the demand for individual application segments in all the regions.
The Report Segments Global Healthcare Analytics Market -
By Delivery Mode
Players Profiled In the Report:
Allscripts Healthcare Solutions, Inc., Cerner Corporation, IBM Corporation, McKesson Corporation, Inc., MEDai, Inc., MedeAnalytics, Inc., OptumHealth, Inc., Oracle Corporation, SAS Institute, Inc., Truven Health Analytics, Inc. and VeriskAnalytics, Inc.
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