Healthcare Analytics Market Predicts Massive Growth 2022 By Top Key Players - IBM, Oracle Corporation, McKesson Corporation, Truven Health Analytics, Cerner Corporation.

The "Healthcare Analytics Market By Products (Hardware And Software), By Applications, By Services, By Company Profiles And By Geography - Global Forecast To 2022" report has been added to TheBusinessResearchCompany.com offering.

The healthcare analytics market consists of sales of healthcare analytics and related goods by entities (organizations, sole traders and partnerships) that provide healthcare analytics. Analytics is the systematic use of data and related business insights developed through various analytical models such as statistical, cognitive, contextual, predictive, quantitative and other emerging models to initiate fact based decision making for planning, measurement, management and learning. These analytics may be predictive, descriptive, and prescriptive.

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Healthcare organizations need to prepare and understand their readmission metrics, calculate their readmission rates by condition and physical performance and compare outcomes with benchmark rates.

Historically, healthcare organization have lamented the insufficient funds available for the IT investment. Currently, the challenge is a lack of standardization and non-existence of data integration. Rapid expansion of healthcare data volume and velocity has encouraged the hospitals, healthcare organizations and healthcare professionals to use analytics.

Healthcare Analytics Market Segmentation: -
By Type Of Technology - The healthcare analytics market is segmented by type of technology into
1. Descriptive analytics
2. Predictive analytics
3. Prescriptive analytics

The prescriptive analytics market is the emerging segment among all three, which is valued at USD 911 million in 2016 and forecast to reach USD 4,029 million in 2022f, growing at a CAGR of 28.2%.

By Application - The healthcare analytics market is segmented by application into
1. Clinical data analytics
2. Administrative & Operational
3. Financial analytics
4. Others

The financial analytics segment had the largest market share of nearly 69.0% of total market in 2016, followed by the administrative and operational analytics segment, which accounted for 12.5% share of overall healthcare data analytics market. The administrative and operational analytics segment is followed by clinical data analytics and others segments accounted which for 11.0% and 7.5% respectively in 2016.

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By Component - The healthcare analytics market is segmented by component into
1. Hardware
2. Software
3. Services

By Geography - The healthcare analytics market is segmented into
1. North America
2. Europe
3. Asia Pacific
4. Rest of the World (RoW)

North American market accounted for largest market share of nearly 61.2% of total market in 2016 and is followed by Europe and RoW regions, which accounted for 17.1% and 12.8% share of overall healthcare data analytics market in 2016.

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Some of the major key players involved in the healthcare analytics market are IBM, Oracle Corporation, McKesson Corporation, Truven Health Analytics, Cerner Corporation.

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