Farmington, April 07, 2023 (GLOBE NEWSWIRE) -- The Global Healthcare Analytics Market Was Valued At US$ 35.3 Billion In 2022 And Is Projected To Reach US$ 167.0 Billion By 2030, Growing at a CAGR Of 21.4% From 2023-2030. The market is growing because more and more people want better health outcomes, healthcare costs are going up, and there is more and more healthcare data to use.
The global healthcare analytics market is a part of the healthcare industry that is growing quickly. Healthcare analytics is the use of tools and techniques for data analysis to improve health outcomes, lower costs, and improve clinical and operational performance. This includes using "big data," "machine learning," and "artificial intelligence" to look at a lot of data about patients, like clinical, financial, and operational data.
Request Sample Copy of Report “Healthcare Analytics Market Size, Share & Trends Estimation Report By Type Outlook (Audio And Video Equipment, Semiconductor And Other Electronic Components) By Sales Outlook (OEM And Aftermarket Semiconductor & Other Electronic Components) By End Use Outlook (Business To Business (B2B) & Business To Customer (B2C)) By Region, And Segment Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Deployment Type Insights:
On-premise delivery refers to healthcare analytics solutions that are installed and run on servers at the customer's location. Larger health care organizations that have their own IT departments and want to keep control of their data usually use this mode of delivery.
The term "cloud-based delivery" is used to describe healthcare analytics solutions that are sent over the internet and run on servers that the solution provider maintains. This method of delivery is becoming more and more popular because, compared to on-premise delivery, it offers more flexibility, scalability, and lower up-front costs.
Web-based delivery refers to healthcare analytics solutions that can be accessed through a web browser. This delivery method is similar to cloud-based delivery, but the analytics solution is accessed through a web interface instead of a dedicated app.
Application Insights:
Operational analytics is the use of healthcare analytics solutions to improve operational efficiency by analyzing data like patient flow, staffing levels, and supply chain management. Operational analytics can help healthcare providers improve workflows, cut down on wait times, and make better use of their resources.
Healthcare organizations' needs and goals will determine which application segment they choose for healthcare analytics solutions. Clinical analytics and financial analytics are the most widely used applications, but operational analytics, population health management, and research and development are also becoming more important as healthcare organizations try to improve outcomes and lower costs.
Regional Outlook:
North America is the biggest market for healthcare analytics, and the US is the country that contributes the most to this market. The region has a very well-developed health care system, which has a big effect on how quickly healthcare analytics are used. The area also has a lot of data about healthcare that can be used for analytics. But in North America, the market is mature and very competitive, and there aren't enough skilled people working in the field of healthcare analytics.
The market for healthcare analytics in Latin America isn't very big, but it's expected to grow a lot over the next few years. The region has a large number of people and a growing middle class, which is driving up the need for healthcare services. But the region also has problems with data privacy and a lack of a strong healthcare infrastructure.
In the Middle East and Africa, the market for healthcare analytics is small but growing. There are a lot of people living in the area, and the need for health care services is growing. But the area also has problems like political instability, a lack of investment in healthcare infrastructure, and a lack of skilled workers.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 21.4% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 167.0 Billion |
| By Type | Descriptive Analysis, Predictive Analysis, Prescriptive Analysis, Others |
| By Component | Software, Hardware, Services, Other |
| By Delivery Mode | On-premises, Web-hosted, Cloud-based, Others |
| By Application | Clinical, Financial, Operational and Administrative, Others |
| By End-use | Healthcare Payers, Healthcare Providers, Life Science Companies, Others |
| By Companies | McKesson Corporation, Optum, Inc., IBM, Oracle, SAS Institute, Inc., IQVIA, Verisk Analytics, Inc., Elsevier, Medeanalytics, Inc., Truven Health Analytics, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Driving Factors:
Increasing government initiatives: Governments all over the world are putting in place plans to make it easier for people to use healthcare analytics. For example, the Centers for Medicare and Medicaid Services (CMS) in the United States has set up a number of payment programs that encourage the use of healthcare analytics..
Technological advancements: With the help of new technologies like big data, machine learning, and artificial intelligence, healthcare analytics are becoming more powerful and useful. This is making healthcare providers and payers more likely to use healthcare analytics.
Restraining Factors:
Resistance to change: In the past, the healthcare industry has been slow to adopt new technologies and ways of doing things. Some health care providers, especially those who don't know much about healthcare analytics, may not want to change.
Interoperability challenges: Data about health care is often kept in separate systems and organizations, which makes it hard to combine and analyse. This can be a big problem for healthcare analytics projects, especially in systems with many different doctors.
Opportunity Analysis:
Growing Demand for Direct-to-Consumer (DTC) Genomics: DTC genomics is becoming more popular because it lets people access and analyse their own genetic data. This gives companies that sell DTC genomics products and services a lot of room to grow.
Collaborations and Partnerships: Collaborations and partnerships between businesses, universities, and research groups can lead to the creation of new products and services and the growth of businesses into new markets and regions.
Key Segments Covered:
Top Market Players:
McKesson Corporation, Optum, Inc., IBM, Oracle, SAS Institute, Inc., IQVIA, Verisk Analytics, Inc., Elsevier, Medeanalytics, Inc., Truven Health Analytics, Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, and others.
By Type
- Descriptive Analysis
- Predictive Analysis
- Prescriptive Analysis
By Component
- Software
- Hardware
- Services
By Delivery Mode
- On-premises
- Web-hosted
- Cloud-based
By Application
- Clinical
- Financial
- Operational and Administrative
By End-use
- Healthcare Payers
- Healthcare Providers
- Life Science Companies
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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