Press release
Healthcare Analytics Solutions Market to Register a Stout Growth By 2025
Healthcare analytics solution incorporates a systematic framework which integrates a roadmap to track and measure data points for data collection, a platform or application for data sharing and an adoption model to understand and analyse data. Healthcare analytics solution assist in improving clinical efficiency, quality of care, cost efficiency in hospitals and clinics, by decision planning and strategies based on insights from analytics solution.
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Healthcare Analytics Solutions Market: Drivers and Restraints
Major factors for resulting in the growth of healthcare analytics solution market are increasing government initiatives and mandates for EHR adoption, need to reduce healthcare spending and improved patient outcomes, technological advancements in medical devices and availability of big data in healthcare. Moreover factors such as increase in healthcare investments by venture capital firms, increasing focus on analytics in prescribed drugs and medicines, increasing focus on value-based medicine and cloud-based analytics, rise in number of patient registries, and emergence of social media and its impact on the healthcare industry are also driving the growth of healthcare analytics solution market.
However, factors such as high initial investment for analytics solution, lack of skilled employees, data security issues and issues with confidentiality of information, hinder the growth of healthcare analytics solution market.
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Healthcare Analytics Solutions Market: Regional Overview
North America holds the largest market share in healthcare analytics market due to presence of healthcare infrastructure, and increase in federal mandates. Healthcare analytics market in Europe is growing substantially, due to adoption of electronic health records in healthcare institutes and increased healthcare expenditure in this region. Asia-Pacific’s healthcare analytics market is growing at the fastest pace due to increasing healthcare awareness in people and government initiatives. Latin America and Africa are slowly adopting healthcare analytics solution to reduce epidemics and curb widespread of diseases, resulting in considerable growth in this market. Japan healthcare analytics solution market is expected to witness a high growth rate due to presence of strong healthcare IT infrastructure and rise in healthcare expenditure.
Healthcare Analytics Solutions Market:
Key Acquisitions
In September 2015, Thoma Bravo LLC, a private equity investment firm acquired MedeAnalytics Inc., a provider of cloud-based financial performance analytics for the healthcare industry.
Key Players
IBM Corporation, Optum, Inc., Cerner Corporation, SAS Institute, Inc., Inovalon, Inc., McKesson Corporation, MedeAnalytics, Inc., Oracle Corporation, Verisk Analytics, Health Catalyst., and Allscripts Health Solutions are some of the key players in healthcare analytics solutions market.
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