Pune, India, Feb. 15, 2022 (GLOBE NEWSWIRE) -- The global healthcare analytics market size worth USD 80.21 billion by 2026, exhibiting a CAGR of 27.5% during the forecast period. According to Fortune Business Insights, titled “Healthcare Analytics Market Size, Share & Industry Analysis, By Product (Descriptive, Predictive, and Prescriptive), By Application (Financial Analytics, Population Health Analytics, Clinical Analytics, and Operations and Administrative Analytics), By End User (Payers, Providers, and Others) and Regional Forecast, 2019-2026” the market size stood at USD 11.59 billion in 2018.
Market Growth Reasons:
- Increasing adoption of EHRin developing and developed countries
- Emergence of value based medicines
- Rise in adoption of big data in healthcare organizations
- Growing government initiatives to increase the adoption of electronic health records (EHRs) among healthcare organizations
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The healthcare analytics market report focuses and elaborates the definition, types, applications and major players in detail. Deep analysis about healthcare analytics market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics and macroeconomic policies, industrial policy has also been studied and provided within the synopsis.
Market Growth Factors:
- Growing adoption of EHRs across various organizations for improving the accuracy of documentation and to track and implement preventive measures in the healthcare organizations drives the growth of the market.
- Rise in adoption of big data in healthcare organizations for tackling various risks related to various different chronic diseases drives the growth of the market.
- Advanced analytical solutions designed for specific requirements of healthcare companies and facilities delivering financial, clinical, operational, and administrative services are bolstering the Healthcare Analytics Market growth.
- The demand for personalized medicine catering to different human genome combinations is growing and the use of data-rich tools, such as eHealth records, mHealth, and Electronic Medical Records (EMRs), to improve patient care is expected to drive the demand for analytical solutions over the forthcoming years.
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Regional Analysis:
- North America is predicted to grow rapidly during the forecast period owing to the well-established healthcare infrastructure and facilities in countries such as in Canada and the US.
- Europe is expected to hold a major share in the global market owing to the rising emphasis on healthcare and favorable reimbursement policies.
- Asia Pacific is predicted to witness steady growth due to the growing awareness and adoption of healthcare analytics. Moreover, the developing healthcare infrastructure and high spending on healthcare will contribute positively to the market in Asia Pacific.
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Market Segments:
The global healthcare analytics market is segmented on the basis of application, component, deployment model, end user, type and region.
The services segment dominated the market for healthcare analytics and accounted for a revenue share. Healthcare and life science companies lack the expertise and resources to deploy analytics and outsource these services to other leading analytical solutions companies.
As per end user, the market is categorized into, healthcare payers, healthcare providers and others.
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The Key Companies in the Healthcare Analytics Market are:
- Cerner Corporation
- IBM Corporation (IBM Watson)
- Flatiron Health
- Linguamatics
- Allscripts Healthcare, LLC
- Epic Systems Corporation
- Health Catalyst
- Inovalon
- Others
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