Press release
Global Healthcare Descriptive analytics is anticipated to shoot off by the end of 2022 :Top keyplayers are Cerner ,IBM ,McKesson Corporation ,Medeanalytics, Inc. ,Optum, Inc. ,Oracle
Descriptive analytics are the tools used for the collection and analysis of historical data and use that to find meaningful patterns and results. In case of the healthcare industry, the insights can be in terms of the number of disease cases, medicines used to treat certain ailments, average stay in hospital, etc. Descriptive analytics can prove useful when personalized healthcare has to be provided to patients. Past data metrics can be formed to provide a better visualization of the results and draw the diagnosis or trends to analyze current condition and predict further steps required.
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The market for healthcare analytics is in the growth stage due to government initiatives to make the industry low cost, better quality- that can be achieved through the use of analytics. This is made possible since the diagnosis can be made more clearly and accurately, avoiding the costs of having undergone unnecessary treatment.
End-user/Technology
Analytics is of three types- predictive, descriptive, and prescriptive. Out of these, descriptive analytics lies on the bottom-most level of the big data value chain. It provides the ability to analyze data quantitatively and present the results in a form easy to understand. It largely deals with events that have already happened in an attempt to diagnose the issues of new and existing patients.
Data mining methods like decision tree making, neural network formation, clustering, and time series analysis are used to draw insights from the data available- but the approaches are still somewhat restricted to academia and still has apprehensions faced from the industry. One way to appeal to the healthcare providers is to present an aggregate system in the form of an enterprise data warehouse containing clinical, financial, and patient related data.
Market Dynamics
The healthcare industry is in the transition stage from volume-based medicines to value-based medicines. The factors pushing this growth forward is intervention of government through policy implementation like EHR, technological advancement, growth in the sector due to emerging need for personalized treatment, etc.
However, the initial investment amount is large- due to which the entry barrier in the industry is set pretty high. Moreover, there is a need gap for trained IT professionals in healthcare due to which the backward support required is not there. Also, there is still apprehension in terms of sharing information with vendors and analytics companies.
Market Segmentation
The global healthcare descriptive analytics market can be segmented based on the following attributes:
Component
Software
Hardware
Services
Deployment model
On-premise
Cloud-based
End-user
Private organizations
Hospitals
Clinics
Physicians
Government organizations
NGOs
Research institutions
In case of deployment models, cloud-based services is witnessing a stark growth, but on-premise system still holds the larger share attributed to its framework allowing for more security. The stakeholders of the technology can span even wider to include not just the healthcare providers, but also the health insurance providers, healthcare payers, ambulatory services and venture capitalists.
Regional/Geographic Analysis
North America is predicted to be the market leader regional wise- continuing its growth from around 60% revenue share in 2015. Various reasons can be attributed to the same- including increasing government regulations related to healthcare to minimize the costs associated, without compromising on quality. Electronic Health Records are also being used more- making use of analytics simpler and more efficient. Moreover, use of personalized medicine is on the rise- prompting the need for personalized healthcare that is more accurate by using descriptive analytics.
Europe and the Asia Pacific regions also follow next. The market in Asia Pacific is expected to grow at about 27% over the next few years- due to government intervention to make the medical infrastructure better.
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Opportunities
The analytics technology presents many opportunities like the following:
Implementation of various facets in the medical field like that of medicine, clinical DSS, health management, etc.
Development of applications to support and implement HER
Key Players
The major players in the global healthcare descriptive analytics market are as follows:
Cerner
IBM
McKesson Corporation
Medeanalytics, Inc.
Optum, Inc.
Oracle
Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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