Pune, India, March 30, 2022 (GLOBE NEWSWIRE) --
The global healthcare analytics market size is estimated to show tremendous growth during the forecast period, owing to the growing demand for advanced technologies to improve the quality of diagnosis and treatments. Healthcare data analytics help medical professionals collect, organize, and analyze large volumes of data to offer them various actionable insights. The trends that will favor the global market outlook are mentioned below:
North America (regional valuation may surpass $50.3 billion):
Personalized care augments predictive analysis demand:
Predictive analysis captured a revenue share of 33% in the North America healthcare analytics market in 2021. One of the main reasons for this is the growing popularity of evidence-based and personalized medical care. Governments across the region are also increasing their investments to improve the efficiency of the healthcare sector and make it better equipped to combat various chronic diseases.
For example, in 2020, researchers at Cleveland Clinic developed a predictive analysis model to understand a person’s chances of testing positive for COVID-19 and the varied results from the onset of the virus like the severity of the ailment. Predictive analysis also identifies the disease treatment pattern and decreases the possibility of readmissions, thereby fueling its adoption among end-users.
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Healthcare analytics applications in population health management rise:
Based on application, the population health management generated a revenue of $3.6 billion in the regional industry in 2021 due to the high demand for a better patient care management system.
Population health analytics can create a patient-specific care system that caters to a patient’s unique medical needs. It can not only have a positive impact on the patient outcome but can also reduce the chances of readmission, thereby stimulating the adoption of healthcare analytics in population health management.
Hospitals may extensively deploy healthcare analytics:
Hospitals captured a substantial revenue share of more than 70% in the North America healthcare analytics market in 2021. Hospitals usually possess technologically advanced equipment and services that help medical professionals in storing, tracking, maintaining, and analyzing a patient’s medical records.
The healthcare analytical tools can enable the smooth functioning of hospitals by offering data on bed capacity, patient volume, and staff & inventory management, thereby increasing the deployment of healthcare analytics.
Europe (regional valuation predicted to go past $16 billion):
Robust use of healthcare analytics in clinical management:
Clinical management solutions captured a share of 31.1% in the Europe healthcare analytics market in 2021. Clinical analytics incline more towards preventive care as compared to reactive care. This approach significantly reduces the healthcare costs, thereby accelerating the adoption of healthcare analytics in clinical management.
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Clinics use healthcare analytics to improve patient care quality:
Clinics held a share worth more than $592.6 million in the regional market in 2021. Clinicians are focusing on offering a wide range of treatment options and other services, which positively affects the inflow of patients. When the patient flow increases, it also boosts the need for innovative solutions to efficiently manage the whole workflow across clinics. This scenario will bolster the use of healthcare analytics across clinics.
Italy healthcare analytics market outlook improves:
Italy market size is anticipated to record a robust CAGR of 19.1% through 2028. Medical professionals are extensively using advanced technologies like big data, thereby accelerating the development of the healthcare sector.
Additionally, the government is launching a variety of plans and schemes to enhance the functioning of the country’s healthcare infrastructure, which will be instrumental in improving the deployment of healthcare data analytics.
Asia Pacific (regional valuation is set to cross $7.1 billion):
Descriptive analytics highly used to deliver actionable insights:
The Asia Pacific healthcare analytics market size from descriptive analytics is expected to record 17.5% CAGR through 2028. Descriptive analytics is being widely used to turn raw and unfiltered data into useful information so that end-users can extract valuable insights and make sound decisions.
Many healthcare organizations across the region use Electronic Health Record (EHR) systems that also contain some type of descriptive analytics. Descriptive analytics also provides users with many advantages, such as identifying irregularities in insurance claims and analyzing the patient population to understand their performance, which can be of great use to medical practitioners.
Access sample pages of the report, “Asia Pacific Healthcare Analytics Market Forecasts 2028” in detail along with the table of contents (ToC) @
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Financial management applications may use healthcare analytics:
Financial management applications captured 32.4% share of the regional market in 2021. Financial management uses healthcare data analytics on a large scale for various purposes, including contract compliance, claim settlement, reimbursement compliance, fraud prevention, revenue cycle management, and risk assessment. Since the problems with respect to claim settlement are rising, the demand for healthcare analytics in financial management systems will grow.
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