Global Healthcare Analytics Market report endows with statistics on the current state of the industry and hence works as a valuable source of guidance and direction for companies and investors interested in this market. To have finest market insights and knowhow of the most excellent market opportunities into the specific markets, this market research report is an ideal option. The report proves to be a thorough synopsis on the study, analysis and estimation of the market and how it is affecting the Healthcare industry. Besides, A research report, marketing administration has carefully considered the minds of their target markets, their feelings, their preferences, their attitudes, convictions and value systems with a formalized and managerial approach. For the accomplishment of business at local, regional and international level, this high quality global market research is an ultimate solution. The research studies accomplished in the world class A business report helps to guess several important aspects that includes but are not limited to investment in a rising market, success of a new product, and expansion of market share.
Global Healthcare Analytics Market was valued at USD 18.32 billion in 2021 and is expected to reach USD 145.20 billion by 2029, registering a CAGR of 24.58% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Healthcare analytics assist healthcare professionals in finding opportunities to enhance patient engagement, clinical outcomes, patient engagement and care delivery. Healthcare analytics solutions make use of the vast amounts of collected data for offering organizations with actionable insights.
Healthcare Analytics Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
The increase in the cost of operations and the decline in reimbursements for laboratory services
The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for healthcare interoperability solutions across healthcare providers and healthcare payers.
Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.
Maintaining compliance with medical reforms and regulations raises the demand for these solutions.
The rise in the adoption of electronic health records (EHR)
It is a challenge to store the bulk data generated by the electronic health records (EHR) on the local storage devices due to the risk associated with the loss of essential data. Hence, deploying these healthcare analytics in the healthcare sector becomes critical to enable easy sharing and storage of big data.
Furthermore, use of analytics in precision and personalized medicine and cloud-based analytics extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increase in the focus on value-based medicine and rise in augmented analytics will further expand the healthcare analytics solutions market’s growth rate in the future.
Restraints/Challenges Global Healthcare Analytics Market
On the other hand, high cost of analytics solutions and concerns regarding inaccurate and inconsistent data are expected to obstruct market growth. Also, reluctance to adopt healthcare analytics solutions in emerging countries and issues with data integration are projected to challenge the healthcare analytics market in the forecast period of 2022-2029.
This healthcare analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on healthcare analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Some of the major players operating in the healthcare analytics market are IBM (US), Wipro Limited (India), Allscripts Healthcare, LLC (US), Cerner Corporation (US), Health Catalyst (US), Inovalon (US), McKesson Corporation (US), MEDEANALYTICS, INC. (US), Optum, Inc. (US), Oracle (US), SAS Institute Inc. (US), ExlService Holdings, Inc. (US), CitiusTech Inc. (US), IQVIA (US), and GENERAL ELECTRIC (US), among others.
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COVID-19 Impact on Healthcare Analytics Market
The COVID-19 pandemic had a significant impact on the world’s population and healthcare industry. An increase in the importance of big data in healthcare industry due to the result of the pandemic. The predictive and prescriptive analytics are utilized for developing prediction models for estimating the emergence of subsequent waves of COVID-19 infection. Operational analytics are highly beneficial in the management of COVID-19 bed allocation in ICU units and patient data.
Global Healthcare Analytics Market Scope and Market Size
The healthcare analytics market is segmented on the basis of type, component, delivery model, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of type, the market is segmented into prescriptive analytics, predictive analytics and descriptive analytics.
On the basis of component, the market is segmented into services, software and hardware. The services segment is sub-segmented into support services and business analytics services.
On the basis of delivery model, the market is segregated into on-demand and on premise.
Population Health Analytics
Operational and Administrative Analytics
On the basis of application, the market is segmented into clinical analytics, population health analytics, operational and administrative analytics and financial analytics. The clinical analytics segment is sub-segmented into quality improvement and clinical benchmarking, clinical decision support, regulatory reporting and compliance, comparative analytics/ effectiveness and precision health. The financial analytics segment is sub-segmented into claims processing, revenue cycle management (RCM), payment integrity and fraud, waste, and abuse (FWA) and risk adjustment and risk assessment. The operational and administrative analytics segment is sub-segmented into supply chain analytics, workforce analytics, enterprise performance, supply chain analytics, market intelligence, research analytics and strategic analytics. The population health analytics segment is sub-segmented into population risk management, population care management, patient engagement, clinical outcome management and activity-based costing.
On the basis of end user, the market is segmented into healthcare payers, healthcare providers and ACOS, HIES, MCOS, and TPAS.
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Key Pointers Covered
Top to Bottom Market Analysis
Recent Developments for Market Competitors
Recent Market Value for Different Countries
Market Value and OverView of this Market
Company Profiling of Players of this Market
The report on this market encompasses:
Comprehensive analysis of all the sections
Esteemed data and figures on every region
Latest market trends and drivers
Superior insights into all emerging developments
What Does the Report Offer?
Bird’s-eye view understanding of the market trends and drivers;
Piecemeal examination of all possible market segments;
Comprehensive insights into the market restraints; and
In-depth study of the regional dynamics and competitive landscape of the market.
Key Pointers Covered in this Market Industry Trends and Forecast
Market New Sales Volumes
Market Replacement Sales Volumes
Market Installed Base
Market By Brands
Market Procedure Volumes
Market Product Price Analysis
Market Healthcare Outcomes
Market Cost of Care Analysis
Market Regulatory Framework and Changes
Market Prices and Reimbursement Analysis
Market Shares in Different Regions
Recent Developments for Market Competitors
Market Upcoming Applications
Market Innovators Study
Market research analysis and estimations from a wide ranging A report aids businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to be followed for outdoing the rivals. Effortlessness maintained in research method and application of best tools and techniques makes this market research report an outstanding. The report is bifurcated into several attributes which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the universal this business report as required to describe the topic and provide maximum information for better decision making.
The premium a market research report offers a great understanding of the current market situation with the historic and projected upcoming market size based on technological growth, value and volume, projecting cost-effective and leading fundamentals in the market. The industry report analyses market information related to specific stock, currency, commodity, and geographic region or country. SWOT analysis has been performed while building this market report along with many other standard steps of researching, analyzing and collecting data.
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