Commercial Pharmaceutical Analytics market – Top kEy Players are - Allscripts (U.S), Microsoft (U.S), Wipro Limited (U.S), Statistical Analysis System (U.S), Northwest Analytics, INC. (U.S), International Business Machines Corporation (U.S), ORACLE (U.S

 “Commercial Pharmaceutical Analytics Market - Forecast to 2023″ is a direct appreciation by Market Research Future of the explosive market potential of the commercial pharmaceutical analytics market. Analytics has been viewed as a tool having greatest suitability for industries such as retailing, telecommunications etc. with the healthcare industry being a secondary choice. The report challenges the above perception with the aid of empirical as well as theoretical findings. The report also presents the key characteristics of data generated in healthcare which are better suited for collection and processing by analytic software. The report indicates that, contrary to popular perception the potential return on investment (ROI) on analytics in healthcare industry exceeds that of other industries. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!

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1.            The primary goal of the report is to access and review the opportunities provided by the application of analytics in healthcare industry.

2.            The second goal of the report is to access the barriers and risks involved in such a move and to provide a framework for integrating the multiple data sets into a single entity.

3.            The tertiary goal is to review the economic potential of analytics in healthcare industry and its potential impact in creating value for business.

Market Synopsis of Commercial Pharmaceutical Analytics Market:

The explosive growth of data on market demand and customer behaviour is creating a new set of opportunities and challenges for healthcare industry. In 2012 alone worldwide digital healthcare data was estimated to be around 500 petabytes and is expected to reach 25,000 petabytes by 2020. The opportunities are immense ranging from quantification of link between actions and revenues, greater market penetration, better customer targeting and engagement, economies of personalized medicine, real time data for feedback and brand equity, corrective actions for customer switching, greater product differentiation, not to mention better customer satisfaction. On the other hand, the barriers involved are legal restrictions, data security, privacy concerns, problems with data collection and processing, integration of multi-point and multi-sectorial cross channel data etc. The global commercial pharmaceutical analytics market and is expected to reach $9,308.4 million by 2027. Globally the market for commercial pharmaceutical analytics market is expected to grow at the rate of about 20.0% from 2016 to 2027.

Key Players for Commercial Pharmaceutical Analytics Market

Some of the key players in this market are: Allscripts (U.S), Microsoft (U.S), Wipro Limited (U.S), Statistical Analysis System (U.S), Northwest Analytics, INC. (U.S), International Business Machines Corporation (U.S), ORACLE (U.S), Citiustech INC (U.S), Scio Health Analytics (U.S), Take Solutions LTD (U.S), Trinity Pharma Solutions (U.S), Fuzzy Logix INC (U.S), and Cerner Corporation (U.S)

Market developments and current trends

Healthcare services company MedData acquired Columbus, Duet Health in May 2016. MedData offers analytics such as revenue cycle management software and analytics services for billing and coding.
Mental health care management company Mindoula Health acquired Care at Hand, which offers a mobile-based early warning system for home caregivers and helps home care managers identify and head off the risk factors resulting in hospital readmission. The analytics software uses a complex algorithm combination of surveys delivered via mobile devices.

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The healthcare analytics is ripe with merger and acquisition activities and the trend is expected to continue. There is also a big trends towards start-ups and angel funding is gearing to the demands of the healthcare analytics industry due to its attractive returns and growth prospects.

Segments for Commercial Pharmaceutical Analytics Market

Types - prescriptive analytics, descriptive analytics, and predictive analytics. Descriptive analytics accounted for the largest market share registering 78.34% of market share in 2015

Deployment - cloud based and web based.

Applications - R&D, marketing & sales, supply chain optimizations, internal reporting and others. On the basis of applications, research & development segment holds 40.8% market share

Regional Analysis of Commercial Pharmaceutical Analytics Market

Globally, North America is the largest market for commercial pharmaceutical analytics. Regionally, North America holds the largest market share 48.6% of global commercial pharmaceutical analytics market and is expected to reach $4,299 million by 2027 from $507.4 million in 2015. Europe is the second-largest market for commercial pharmaceutical analytics. The market is anticipated to reach at $2,613.1 by 2027. Due to the increasing adoption rate, Asia-pacific is estimated to be the fastest growing region globally, registering 20.8% CAGR during the forecast period.

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