Pune, India, Nov. 08, 2021 (GLOBE NEWSWIRE) — According to the report, Healthcare Analytics market size is projected reach USD 80.21 billion by 2026. Healthcare analytics market was valued at USD 11.59 billion in 2018. The advancement in technologies along with growing venture capital funding will aid the market in the region.
The global healthcare analytics market size is predicted to reach USD 80.21 billion by 2026, exhibiting a CAGR of 27.5% during the forecast period. The emergence of big data in healthcare can be a vital factor in boosting the healthcare analytics market revenue during the forecast period. Moreover, the rising venture capital investments by major companies will contribute positively to the healthcare analytics market trends in the forthcoming years. For instance, Cigna Ventures, a venture capital fund company invested $29.5M in Arcadia, a healthcare data and software company. The new development of Arcadia will help enhance patient care and adoption of value-based care models along with access to resources and tools to health care professionals.
|Forecast Period 2019-2026 CAGR||27.5%|
|2026 Value Projection||USD 80.21 billion|
|Market Size in 2018||USD 11.59 billion|
|Historical Data for||2015-2017|
|No. of Pages||132|
|Segments covered||Application, Network, Technology, Sales Channel, Communication and Region|
|Growth Drivers||Shift Towards Value-Based Care to Foster Market Growth|
|Big Data is Transforming Market|
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According to the report, published by 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. 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. From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivalled data in well-organized manner.
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Introduction of Project Apollo by Cerner to Escalate Market Possibilities
Cerner Corporation, an American health information technology solutions and services company launched a trailblazing platform, project Apollo. The new cognitive platform will provide computing resources to its healthcare users. The cloud-based automation platform is built on AWS infrastructure for speedy innovations to eliminate manual steps that cast obstructions for new advancement. The launch of the platform will have a positive impact on the healthcare analytics market share owing to the its next-gen technology for healthcare clients.
Moreover, the deal between the Cerner and Geisinger will bolster healthy growth of the market during the forecast period. for instance, Cerner announced a 10-year agreement with Geisinger to extend its usage of the HealtheIntent pop health platform. Cerner CEO Brent Shafer, said in a statement, “healthcare will change more in the next five years than it has in the past 30, as we have for the past four decades, Cerner’s technology and collaborative programs, along with the most respected providers, will lead a wave of disruptive innovation focused on making healthcare better.”
Developed Healthcare Infrastructure to Facilitate Growth in North America
The market in 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. The advancement in technologies along with growing venture capital funding will aid the market in the region. Moreover, the adoption of electronic health records and presence of eminent players in the region.
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.
Healthcare Analytics Market Major Key Players:
- Cerner Corporation
- IBM Corporation (IBM Watson)
- Flatiron Healt
- Allscripts Healthcare
- Epic Systems Corporation
- Health Catalyst
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Global Healthcare Analytics Market Segmentations:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Financial Analytics
- Population Health Analytics
- Clinical Analytics
- Operations and Administrative analytics
By End User
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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