Press release
Healthcare Analytics Solutions Market to Reflect Steady Growth Rate by 2025
In today’s world, healthcare institutes are making continuous efforts to implement and upgrade healthcare analytics solution to get real world insights and provide better healthcare services. In healthcare industry, the ever-growing complexity in economics, customer needs and competitive environment is encouraging the adoption of analytics solution in business and workflow processes. Healthcare analytics is the term used to describe the healthcare associated analytics. This analytics can be executed by using the data collected from areas within healthcare related operations which are clinical data (collected from electronic health records (EHRs), financial data (cost and claims data), research and development (R&D) data related to pharmacy and medical devices, patient behaviour and sentiment data.
Healthcare analytics solution incorporates a systematic framework which integrates a roadmap to track and measure data points for data collection, a platform or application for data sharing and an adoption model to understand and analyse data. Healthcare analytics solution assist in improving clinical efficiency, quality of care, cost efficiency in hospitals and clinics, by decision planning and strategies based on insights from analytics solution.
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Healthcare Analytics Solutions Market: Drivers and Restraints
Major factors for resulting in the growth of healthcare analytics solution market are increasing government initiatives and mandates for EHR adoption, need to reduce healthcare spending and improved patient outcomes, technological advancements in medical devices and availability of big data in healthcare. Moreover factors such as increase in healthcare investments by venture capital firms, increasing focus on analytics in prescribed drugs and medicines, increasing focus on value-based medicine and cloud-based analytics, rise in number of patient registries, and emergence of social media and its impact on the healthcare industry are also driving the growth of healthcare analytics solution market.
However, factors such as high initial investment for analytics solution, lack of skilled employees, data security issues and issues with confidentiality of information, hinder the growth of healthcare analytics solution market.
Healthcare Analytics Solutions Market: Segmentation
The healthcare analytics solution market can be segmented on the basis of analytics type, application, deployment, component, end-user and region wise.
Segmentation on basis of Analytics Type for Healthcare Analytics Solutions Market
On the basis of type it can be further segmented into:
Predictive Analytics
Descriptive Analytics
Prescriptive Analytics
Segmentation on basis of Application for Healthcare Analytics Solutions Market
On the basis of application it can be further segmented into:
Clinical Analytics
Non Clinical Analytics
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