The research report “Global Healthcare Analytics Market By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Population Health Analytics, Financial Management, Clinical Data Management, Operations Management, Others), By Component (Hardware, Software, and Services) By End-Use (Hospitals, Clinics, and Others), and Geography- Global/Region/Country Forecast to 2027”, The Global Healthcare Analytics Market was valued at US$ 16758 Mn in the year 2020 and is anticipated to grow at US$ 94339 Mn till 2027 witnessing a CAGR of 28% over the forecast period 2021-2027.
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Global Healthcare Analytics Market By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Population Health Analytics, Financial Management, Clinical Data Management, Operations Management, Others), By Component (Hardware, Software, and Services) By End-Use (Hospitals, Clinics, and Others), and Geography- Global/Region/Country Forecast to 2027”.
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Huge demand for Healthcare analytics tools from several healthcare industries will record huge market Growth
Healthcare analytics tools greatly aid in improving financial, clinical and operational performance of healthcare industries. Several innovative technologies are followed by healthcare industries since many days. The advanced analytics has great significance in healthcare systems as they provide insights for managing business effectively. Healthcare analytics are the best solutions as they help in tracking the data from different healthcare areas like patient behavior data, cost and claims data and pharmaceutical data. Furthermore, analytics allow assessing the future requirements of the patient, which is helpful for both payer and provider. Therefore, a number of healthcare industries are now opting for healthcare analytics. For instance, electronic health records (EHR) provides patient data that includes prescriptions, history and personal details such as contact number, address, email, physicians comments and diagnostic test results. A dramatic change in healthcare organization will foster the market.
Healthcare expenditure is one of the crucial factors to drive the healthcare analytics market. Growing healthcare expenses and efficient hospital management greatly associates with quality of care. Here comes the role of healthcare analytics, which greatly help to reduce inefficiencies, reduce costs, evaluate potential healthcare needs as well as diagnostic tests and identify at-risk populations. The healthcare analytics market is hugely driven by need for huge data in healthcare industry, changing healthcare dynamics due to COVID-19, great pressure to provide quality care, focus on e-health collaborations and investments by venture industrialists. Furthermore, huge need to preventive and predictive analytics due to the great use of smart healthcare products will foster the market growth.
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Impact of COVID-19 Healthcare Analytics Market:
In addition, the report discusses the implications of COVID-19, including the industry’s initial response and strategies for ensuring business continuity in the coming years.
North America has expected to account for major revenue share in Global Healthcare Analytics Market
U.S Healthcare Analytics Market is projected to grow recoding considerable CAGR during the forecast years due to the factors such as adoption of sophisticated technologies and increase healthcare expenditure. Developed and developing regions both are huge markets for healthcare analytics. Lack of healthcare infrastructure in developing economies, skilled resources and data confidentiality are the leading challenges of the market.
Competition Analysis:
Key players have been analyzed using research methodologies to get complete view on global competition. Key Players operating in the Global Healthcare Analytics Market are Allscripts Health Solutions (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.)., HP Development Company, L.P.(U.S.), Inovalon (U.S.), McKesson Corporation (U.S.),.Oracle Corporation (U.S.), Optum, Inc. (U.S.), Verisk Analytics (U.S.) and SAS Institute, Inc. (U.S.).
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