Healthcare Analytics Market to Exhibit Moderate Growth at a CAGR

Healthcare Analytics Market

The global 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $23.51 billion in 2020, and is projected to reach $96.90 billion by 2030, growing at a CAGR of 15.3% from 2021 to 2030. Increase in adoption of big data in healthcare organizations, rise in government initiatives to escalate the adoption of electronic health records (EHRs) among healthcare organizations, and growing pressure in the healthcare sector to curb unnecessary expenditure fuel the growth of the global healthcare analytics market. On the other hand, lack of skilled labors and high implementation costs restrain the growth to some extent. However, use of cloud-based analytics across various healthcare providers is anticipated to pave the way for lucrative opportunities for the key players in the industry.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 – 308 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A07488

Healthcare analytics is the use of vast amount of data to help healthcare professionals with actionable insights to improve operations, patient engagement, care delivery, and clinical outcomes. In addition to this, big data analytics helps healthcare organizations with a variety of initiatives, including disease surveillance and preventive care efforts, the development of diagnostic and clinical techniques, and the creation of personalized, impactful healthcare marketing campaigns. Moreover, rise in adoption of big data in healthcare organizations and surge in government initiatives to increase the adoption of electronic health records (EHRs) among healthcare organizations boost the healthcare analytics market growth. In addition, pressure among the healthcare organizations to curb the unnecessary expenses positively impacts the growth of the market. However, factors such as high implementation cost and lack of skilled labor is expected to hamper the market growth. On the contrary, use of cloud-based analytics across various healthcare providers and rise in adoption of augmented analytics among the healthcare industry is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

Based on application, the financial analysis segment contributed to the largest share in 2020, holding more than two-fifths of the global healthcare analytics market. Rise in need to acclimatize in the ever-changing and unpredictable healthcare landscape drives the growth of the segment. The clinical analysis segment, on the other hand, would grow at the fastest CAGR of 18.5% throughout the forecast period. Growing demand from patients to track their health data and share it with their respective healthcare professionals for additional remedies and advices fuels the segment growth.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/healthcare-analytics-market/purchase-options

Based on region, North America held the major share in 2020, garnering more than half of the global healthcare analytics market, due to increasing adoption of analytics solutions in the healthcare industry and presence of major players in the region. The market across Asia-Pacific would cite the fastest CAGR of 19.4% from 2021 to 2030. Growing government healthcare regulations to reduce the rising healthcare costs and increasing regulatory requirements propel the need for healthcare analytics in the region. This factor drives the market growth in this province.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Cerner Corporation

SAS Institute

Health Catalyst

Allscript Healthcare Solution

HMS(Vitreoshealth)

IBM Corporation

MedeAnalytics Inc.

Oracle Corporation

Optum Inc.

McKesson Corporation

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A07488

Depending on application, the financial analysis segment dominated the market share in 2020, and is expected to continue this trend in the upcoming years. This is attributed to rise in need to improve the claims response time among the healthcare organization and to reduce fraudulent activities across the healthcare sector. However, the clinical analysis segment is expected to witness the highest growth rate during the forecast period, owing to rapid adoption of artificial intelligence and machine learning technology among the healthcare providers and rise in need to reduce medical error among the healthcare professionals.

Based on component, the service segment accounted for nearly half of the global healthcare analytics market in 2020, and is projected to lead the trail by the end of 2030. Rise in demand for cloud-based healthcare analytics services during the global health crisis across the globe is expected to provide potential growth opportunities for the segment. However, the software segment would manifest the fastest CAGR of 16.6% during the forecast period. This is because majority of health care providers choose data warehouse to maintain proper operations of their organizations.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07488

The healthcare analytics market is projected to prosper in the COVID-19 situation owing to various government, public, and other organizations adopting healthcare analytics to help organizations in navigating the complexities through advanced analytics solutions and support optimal outcomes. In addition, the enormous amount of data generated during the pandemic has given researchers and healthcare providers the opportunity to analyze trends, monitor patient populations, and begin to rectify longstanding issues in the healthcare industry. Furthermore, with the rapid spread of COVID-19, many hospitals and health systems were faced with the possibility of sudden surges in patient volume, resulting in limited resources and increased burden on staff. In addition, to better plan for these potential surges, organizations have implemented predictive tools that can help allocate resources, and various government, public and private healthcare organizations across the globe have adopted analytical tools, which is positively impacting the growth of the healthcare analytics market.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Automatic Identification and Data Capture Market  – https://www.alliedmarketresearch.com/automatic-identification-and-data-capture-market-A13147

Tracking-as-a-Service Market – https://www.alliedmarketresearch.com/tracking-as-a-service-market-A11850

Passive Authentication Market – https://www.alliedmarketresearch.com/passive-authentication-market-A11097

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