Healthcare Analytics Market 2021 By Regional Players - IBM, OptumHealth, McKesson Corporation, Allscripts Healthcare Solutions, Cerner Corporation
The evolution of big data in healthcare will act as a high impact rendering factor for the healthcare analytics market worldwide. The evident shift in healthcare from written scripts to real-time monitoring and electronic health records has led to the accumulation of a huge amount of digital data.
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The growing cost of healthcare has been regarded as a global concern by both public and private health bodies is a major driver for the medical industry.
Healthcare analytics has witnessed a robust surge in the adoption rate over the last few years. This trend is expected to continue, attributed to the rising use of technology to control the cost associated with advanced medical services. As per reports, healthcare analytics market could cross USD 18.25 billion in total annual remunerations by the end of 2025.
North America healthcare analytics market is touted to witness appreciable gains over the forecast period. U.S. healthcare analytics market contributed the largest revenue to the overall market share in 2018 and is estimated to grow at a CAGR of 12.5 per cent over the forecast period.
Surging healthcare expenditure leading to enhancements in healthcare system is likely to accelerate the utilization of healthcare analytics tools in the country. Escalating advancements in technology and the rising demand for better quality healthcare will further spur industry growth in the region.
Surging requirement of healthcare organizations for the improvement of operational efficiencies is expected to facilitate clinical management applications in capturing the healthcare analytics market over 2019-2025.
Clinical management segment will reach a commendable valuation of USD 5,688.0 million by 2025, cite reports. Surging deployment of healthcare analytics tools will allow the implementation of preventive care, in turn decreasing readmission rates, and bolstering healthcare data analytics business landscape over the forecast period.
The prescriptive analytics segment in the healthcare analytics market is projected to witness a commendable CAGR of 15.8 per cent over the estimated period.
The highest growth potential is due to its ability to furnish healthcare analytics solutions that could effectively utilize critical information and data in support of operational, clinical, and financial decisions, putting them on the path of achieving successful outcomes.
Prominent healthcare analytics companies comprise Cerner Corporation, IBM, OptumHealth, Athenahealth, McKesson Corporation, Allscripts Healthcare Solutions, Evolent Health, Inovalon, and others.
These organizations have been engaging in various mergers, acquisitions, and collaborations for the enhancement of their market foothold and the expansion of their geographic reach, which will eventually lend a positive growth impetus to the industry.
In essence, emergence of big data in healthcare services will prove to be a high impact rendering factor for the healthcare analytics industry in the forthcoming years. Consistent efforts of healthcare organizations towards the reduction of expenses and increase in operational efficiencies will further drive market expansion through the estimated timeframe.
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Partial Chapter of the Table of Content
Chapter 3. Healthcare Analytics Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Emergence of Big Data in healthcare
184.108.40.206. Emergence of personalized and evidence based medicine
220.127.116.11. Rising investments in venture capital funds
18.104.22.168. Growing need of increasing efficiency in healthcare sector by reducing unnecessary costs
22.214.171.124. Technological advancements
126.96.36.199. Emergence of social media and its impact on healthcare
3.3.2. Industry pitfalls & challenges
188.8.131.52. Lack of skilled IT professionals in healthcare
184.108.40.206. Data integrity and safety issues
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.4.3. By end-use
3.5. Investment landscape
3.6. Technology landscape
3.6.1. North America
3.7. Regulatory and reimbursement scenario
3.8. Porter's analysis
3.9. Competitive landscape, 2017
3.9.1. Strategy dashboard
3.10. PESTEL analysis
Chapter 4. Healthcare Analytics Market, By Product
4.1. Key segment trends
4.2. Descriptive Analytics
4.2.1. Market size, by region, 2014 – 2025 (USD Million)
4.3. Predictive Analytics
4.3.1. Market size, by region, 2014 – 2025 (USD Million)
4.4. Prescriptive Analytics
4.4.1. Market size, by region, 2014 – 2025 (USD Million)
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