Healthcare Descriptive Analysis Market to Showcase a 23.5% CAGR During 2023-2028, Embracing Cloud Technology for Enhanced Patient Care and Security

Dublin, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The "Healthcare Descriptive Analysis Market - Growth, Trends, And Forecasts (2023-2028)" report has been added to's offering.

This research on the global Healthcare Descriptive Analysis Market offers an in-depth look at the industry's accelerated growth trajectory, anticipated to reach an impressive USD 42.72 billion by 2028, springing from a value of USD 14.87 billion in 2023. This remarkable growth, represented by a CAGR of 23.5% over the forecast period, underscores the pivotal role of healthcare data analytics in contemporary medical and health research advancements.

Through the fierce challenges presented by the COVID-19 pandemic, the effectiveness of advanced healthcare data analytics was brought to light, proving critical in tracking and managing the health crisis. The surge in research activity underscored by descriptive analytics played a crucial role in the market expansion, a trend that continues post-pandemic with a steady climb fueled by enhanced digitalization, increased analytic adaptation, and profound healthcare infrastructural and technological developments.

The market is experiencing a push from the necessity to decrease healthcare costs resulting from product flaws and inefficiencies within hospital workflows. The integration of big data in healthcare, as reported in prominent health informatics studies, has been catalyzing improvements in patient care, diagnosis speed, preventive healthcare measures, and the personalization of treatments – all attributing factors to the market's upward trajectory.

Key Trends Shaping the Healthcare Descriptive Analysis Market

Cloud-based technologies are carving out a significant segment with their potent combination of storage, data analytics, and AI capabilities, enabling healthcare organizations to streamline patient care and data security. Major industry players are at the forefront, launching cutting-edge products that highlight the ongoing shift towards cloud-based platforms for healthcare data management.

Cloud-based Segment Dominance

Cloud-based descriptive analytics is gaining a substantial market share owing to its operational benefits and transformative potential in data-driven innovation within the healthcare sector. Proliferation of cloud platforms furnishes organizations with the tools to navigate the vast realm of healthcare data, simplifying storage, processing, and patient care.

Regional Spotlight - North America

North America claims a dominant stance in the global Healthcare Descriptive Analysis Market. Backed by favorable government mandates, surging EHR adoption rates, and value-based reimbursement models, the region leads in fostering a conducive environment for healthcare analytics growth.

The competitive landscape of the healthcare descriptive analysis market is moderately competitive, driven by strategic moves like product innovations and collaborations by principal companies. As the sector continues to evolve, these entities are anticipated to play a fundamental role in shaping the market dynamics and driving its growth trajectory further upwards.

This significant development in healthcare analytics presents abundant opportunities for improved patient outcomes and operational efficiencies within the healthcare sector.

A selection of companies mentioned in this report includes:

  • IBM
  • Allscripts Healthcare Solutions Inc.
  • Inovalon
  • McKesson Corporation
  • MedeAnalytics Inc.
  • Optum Inc.
  • Oracle Corporation
  • Wipro
  • Health Catalyst
  • SAS Institute Inc.
  • CitiusTech Inc.

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