25th July 2019 – Healthcare
Analytics Market study offers detail overview of industry with all the
requisite data to support tactical business decisions and come up with
strategic growth plans. This study also proposes a comprehensive insight into
the development policies and plans in addition to manufacturing processes and
cost structures.
Global Healthcare Analytics Market size
is expected to reach USD 53.65 billion by 2025. Healthcare analytics (HA)
implies analyzing data collected from various sources; to improve healthcare
facilities. Increasing need to reduce healthcare expenditure among hospitals
and the other healthcare providers is expected to drive the market growth in
the upcoming period. The market size is anticipated to grow at a high CAGR in
the upcoming period as the scope, product types, and its applications are
increasing across the globe.
Get
a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/healthcare-analytics-market/request-sample
With the advent of data-enriched tools
such as eHealth, mHealth, mobile applications, and electronic health records
(EHR), the communication gap between patients and caregivers has reduced. These
tools generate tremendous data, which is used for personalized treatments. Now
hospitals are using healthcare analytics to manage the number of workers
working in a shift. The market based on
the types is classified into descriptive, prescriptive, and predictive. Descriptive
analytics is widely used amongst the three and held the largest share in 2016.
Mostly these systems are used for administrative and process optimization
activities. Moreover, the “predictive” analytics is expected to witness large
market share during the forecast period. This method is widely used by
organizations such as insurance providers, government organizations, hospitals,
clinics and life science companies.
Delivery modes of healthcare analytics
include web based, on-premises, and cloud based delivery. The “on-premises”
delivered services contributed 48% market share in 2015. On the other hand, the
“cloud based analytics” is expected to hold the highest market share in the
forthcoming period. Real-time data tracking, avoidance of complex physical
ecosystem and remote access to data are the benefits associated with
cloud-based systems.
The application segment includes
clinical, operational & administrative, financial and others. The
“operational & administrative” services dominated the large market share in
2015. This can be attributed to their wide applications encompassing supply
chain management, strategic analytics and workforce. However, the “financial”
application is expected to hold the largest market share over the forecast
period due to their growing adoption in private as well as government health
settings.
The factors that play an important role
in the growth of healthcare analytics market include increasing demand, growing
population, increasing urbanization & industrialization, growing
digitalization of healthcare data, increasing government initiatives to
increase EHR (Electronic Health Records) adoption, availability of big data in
healthcare, growing pressure to curb healthcare costs, rising focus on
improving patient outcomes, increasing venture capital investments,
technological advancements and stringent government rules & regulations.
However, issues related to data
integrity & safety, lack of skilled IT professionals and the other high
pricing are negatively impacting the growth of healthcare analytics industry.
The market is widely analyzed based on different regional factors such as gross
domestic product (GDP), demographics, acceptance, inflation rate and others.
The market is categorized based on type, component, application, delivery mode,
end-use and geography. The market is classified into component such as
hardware, software and services. The “services” segment held the large share in
2015 and is anticipated to grow at a high CAGR in the next couple of years.
Outsourcing of big data services is projected to dominate the service segment.
North America is anticipated to hold the
largest market share in the upcoming period due to growing demand to reduce
rising healthcare costs, increasing cases of payment frauds, high per capita
healthcare cost. However, Asia Pacific is expected to witness high market share
during the forecast period owing to the increasing government initiatives to
improve the medical infrastructure, growing population and promote economic
growth.
The key players contributing to the
robust development of the healthcare analytics market include IBM Corporation,
SAS Institute Inc., Oracle Corporation, Allscripts Healthcare Solutions Inc.,
Cerner Corporation, MEDai Inc., Optum Health Inc., MedeAnalytics, Wipro,
CitusTech, Verscend, VitreosHealth, SCIO Health and Verisk Analytics Inc.These
market players are focusing on inorganic growth to sustain themselves amidst
fierce competition. As such, mergers, acquisitions, and joint ventures are the
need of the hour.
For
More Details, Visit @ http://www.millioninsights.com
No comments:
Post a Comment