As per this study the Global Healthcare Analytics Market was valued at USD 42.08 BN (by revenue) in 2021 and is anticipated to reach USD 125.54 BN by 2028 with a CAGR of 16.9%.
Healthcare analytics refers to the analysis of data collected regarding patient's behavior and diagnoses, claims and cost, clinical data and other healthcare activities. The data is usually collected from electronic health records and are further used for better decision-making. It also increases patient experience, provides real-time data and estimates future outcomes in cost effective way and thus, improves probability of success.
Market Dynamics
Rising focus on increasing patient outcomes along with minimizing healthcare cost are the prime factors driving the market growth. Favorable governmental support for medical analysis along with technological advancement to impart ease in collection of healthcare data is further boosting market growth. Also, increasing adoption of information systems by various healthcare organizations for betterment of business operation and clinical care is presumed to augment market growth in forecasting period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of healthcare analytics.
Market Segmentation
The broad healthcare analytics market has been sub-grouped into type, component, delivery mode, application and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Descriptive Analysis
- Predictive Analysis
- Prescriptive Analysis
By Component
- Hardware
- Software
- Services
By Delivery Mode
- On-Premises
- Web-Hosted
- Cloud Based
By Application
- Clinical
- Financial
- Operational And Administrative
By End-Use
- Healthcare Payers
- Healthcare Providers
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for healthcare analytics in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Healthcare Analytics Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the healthcare analytics market include 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. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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