Healthcare Analytics Industry 2021
Healthcare Analytics Industry is expected to grow at a CAGR of 27.84% over the Forecast Period Owing to Growing Advancements Patient Data Technology, says Absolute Markets Insights
In terms of revenue, the global Healthcare Analytics Industry was valued at US$ 11.87 Mn in 2018 and is expected to reach US$ 29.99 Mn by 2022, growing at a CAGR of 27.84%over the forecast period.
The growing demand for efficient decision-making in the medical industry from data-backed insights is globally strengthening the adoption of healthcare analytics. The increased use of various analytical devices in healthcare systems in order to close performance gaps is driving the market growth. The adoption of various wearable medical devices and sensors are aiding in the collection of individuals’ data. Moreover, the industry is exploiting the broad potential of tools and techniques offered by healthcare analytics to help stakeholders better identify goals for public health and provide sound data-driven medical care. For instance, Health Catalyst, a technology, and services provider offers data analytics to healthcare organizations. Furthermore, in order to build the links between patients and healthcare providers, including those who provide insurance, insights from healthcare analysis are proving to be quite helpful. This has accelerated the demand for Healthcare Analytics Industry globally.
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Major Key Players:
Some of the market players operating in the global Healthcare Analytics Industry include Verisk Health, SAS Inc., Oracle Corporation, Truven Health Analytics, McKesson Corporation, MedAssets, Inc., Mede Analytics, Inc., IBM, Health Catalyst, and Cognizant
Key Findings of the Report:
On the basis of type, descriptive analytics’ ability to analyze historical data and gain actionable insights into the future will promote segment growth. It is the most fundamental and widely accepted form of analytics that acts as a precursor to predictive and prescriptive analytics.
The market segmented on the basis of application is expected to be dominated by financial analytics as payers are increasingly focusing on early detection of fraud and reducing preventable costs.
On the basis of geography, North America held the largest share of the market owing to the highly developed technological infrastructure in the United States.
Market Segmentation
By Type
Predictive
Prescriptive
Cognitive
By Delivery Model
On-Premise Models
On-Demand Models
By Application
Clinical Analytics
Financial Analytics
Operational and Administrative Analytics
Population Health Analytics
By Component
Service
Hardware
Software
By Region
North America
U.S
Canada
Mexico
Rest of North America
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand….
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