Press release
Healthcare Analytics Market Size 2020 to 2022 Status, Covid-19 Impact Analysis, Trends by Companies, Regional Outlook
The Business Research Company
The global healthcare analytics market was valued at USD 11.3 billion in 2017 and is expected to reach USD 34.1 billion by 2022, growing at a CAGR of 24.8%. The immense complexity challenges the global healthcare industry to implement smarter and more informed decisions, to deliver better value and improved outcomes, thereby driving the healthcare analytics market. In addition, the increasing regulatory presence of government creates an additional focus on accountability, governance and oversight on the industry.
The Key drivers of the healthcare analytics market include:-
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. This is a highly data-intensive analytical process that will benefit healthcare providers by reducing penalties or, better yet, avoiding them.
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Healthcare Analytics Market Segmentation:-
By Type Of Technology
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
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 Geography - The healthcare analytics market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the healthcare analytics market are
1. IBM
2. Oracle Corporation
3. McKesson Corporation
4. Truven Health Analytics (Private Subsidiary)
5. Cerner Corporation
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About US:
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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