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Predictive Disease Analytics Market Size To Reach New Heights By 2031
This technology has shown improvements in areas such as hospital administration, supply chain management, and the treatment of chronic diseases.
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Factors driving the growth of the predictive disease analytics market include the emergence of personalized medicine and the adoption of digital technologies in the healthcare industry. Governments and organizations are also taking initiatives and making financial investments in this field.
For example, the European Commission allocated funds for a project to create an AI-based platform for evaluating clinical data on novel oncology drugs. The American government has also launched initiatives like the HealthData.gov portal, which compiles data from federal databases to support healthcare analytics.
The healthcare sector's digitalization and significant investments in technology contribute to the adoption of predictive disease analytics globally. These tools help improve patient care, enhance employee productivity, and reduce the burden on healthcare providers.
Product development activities and government funding in the healthcare sector further drive market growth. However, the high cost of predictive disease analytics poses a challenge to market growth.
North America dominates the global market in terms of revenue, attributed to factors such as the adoption of digital technologies, research and development of personalized medicine, and government support.
Asia Pacific is expected to experience the highest growth rate during the forecast period due to increasing government support, a rise in chronic diseases, collaborations for product development, geographic expansion of key players, and the active participation of government and nonprofit organizations in the market.
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Key players in the predictive disease analytics market include Oracle Corporation, International Business Machines (IBM) Corporation, SAS Software, Allscripts Healthcare Solutions Inc., MedeAnalytics, Inc., Health Catalyst, Apixio Inc., Microsoft Corporation, UnitedHealth Group Incorporated (Optum Inc.), and Cerner Corporation.
Recent developments in the market include Microsoft's unveiling of Microsoft Cloud for Healthcare in September 2020, which aims to improve patient care insights, and the partnership between SwitchPoint Ventures and Ardent Health Service in January 2023 to launch an innovation lab focused on data-driven solutions.
The market report covers historical data from 2019-2021 as the base year for estimation, with a forecast period of 2022-2029. It provides insights into revenue forecasts, company rankings, competitive landscape, growth factors, and trends. The report segments the market based on components (software & services, hardware), deployment (on-premises, cloud-based), end users (healthcare payers, healthcare providers, other end users), and regions (North America, Europe, Asia Pacific, Latin America, Rest of the World).
The objective of the study is to define market sizes, analyze driving factors and challenges, identify opportunities in micro markets, and provide a comprehensive analysis of the competitive landscape and component offerings of key players in the industry.
The global Smart market report answers questions such as:
• What is the market size and forecast of the Global Smart airport Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
• What is the competitive strategic window for opportunities in the Global Smart airport Market?
• What are the technology trends and regulatory frameworks in the Global Smart airport Market?
• What is the market share of the leading players in the Global Smart airport Market?
• What modes and strategic moves are considered favorable for entering the Global Smart airport Market?
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