Electronic Health Records (EHRs) usage is increasing in both developing and developed countries, which is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, April 5, 2023 /EINPresswire.com/ — The global healthcare analytics market size was USD 21.10 Billion in 2021 and is expected to register a revenue CAGR of 25.4% during the forecast period, according to latest analysis by Emergen Research. Electronic Health Records (EHRs) usage is increasing in both developing and developed countries, which is expected to support market revenue growth between 2022 and 2030. Increased usage of big data among healthcare organizations and increase in government initiatives to promote healthcare institutions to utilize EHRs, are supporting growth of the healthcare analytics market. Additionally, need to reduce unnecessary expenses of healthcare facilities is expected to increase adoption of healthcare analytics solutions.
However, healthcare analytics industry growth is projected to be hampered by issues such as high implementation costs and scarcity of experienced workers. Increased acceptance of augmented analytics in the healthcare sector, as well as usage of cloud-based analytics by various healthcare providers, is expected to provide lucrative prospects for market growth throughout the forecast period.
The American Journal of Managed Care describes value-based medicine as “the practice of medicine based on objective value (increase in the quality of life) imparted by healthcare treatments as determined by applying a set of standardized criteria” (commonly used to evaluate value and cost-effectiveness). Future healthcare trends will be increasingly quality-focused, with an emphasis on improving services delivered and development of creative methods for value-based healthcare and care administration. Most hospitals are gradually becoming aware of inadequacies of traditional methods to patient safety, quality control, and cost control. As a result, healthcare BI solutions would be among top priority on hospitals’ investment lists for logistical management, HIE, and illness prediction.
Value-based medicine is significantly contributing by gathering and making accessible results-oriented data. BI assists healthcare businesses in determining what data they want, as well as in analyzing, evaluating, and utilizing this information to analyze total costs against benefits and achieve a competitive edge. It also allows for openness in all processes, allowing each purchase to be evaluated in terms of cost, efficiency, and results.
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The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
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The leading market contenders listed in the report are:
Health Catalyst Inc., MedeAnalytics, Inc., Athenahealth Inc, Tenet Healthcare Corporation, Evolent Health, Oracle Corporation, Verisk Analytics, Inc., Epic Systems Corporation, TIBCO Software Inc., SAP SE
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Middle East & Africa
Market Segmentations of the Healthcare Analytics Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Healthcare Analytics market on the basis of product, application, and region:
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2017–2027)
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Solution Outlook (Revenue, USD Billion; 2017–2027)
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How will this Report Benefit you?
An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global Healthcare Analytics market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for Healthcare Analytics. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.
Additional information offered by the report:
Along with a complete overview of the global Healthcare Analytics market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Healthcare Analytics market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
In conclusion, the Healthcare Analytics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Healthcare Analytics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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