Healthcare Analytics Market Revenue | Top Players Financial Performance | Trend Analysis

Felton, Calif., USA, Jan. 29, 2021 — /EPR Network/ —

The global Healthcare Analytics Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

Global Healthcare Analytics Market size is expected to reach USD 53.65 billion by 2025. Healthcare analytics (HA) implies analyzing data collected from various sources; to improve healthcare facilities. Increasing need to reduce healthcare expenditure among hospitals and the other healthcare providers is expected to drive the market growth in the upcoming period.

Key Players:

  • IBM Corporation
  • OptumHealth
  • Oracle Corporation
  • VeriskAnalytics
  • MEDai
  • MedeAnalytics
  • McKesson Corporation
  • Truven Health Analytics
  • Allscripts Healthcare Solutions
  • CernerCorporation
  • SAS Institute

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Growth Drivers:

The factors that play an important role in the growth of healthcare analytics market include increasing demand, growing population, increasing urbanization & industrialization, growing digitalization of healthcare data, increasing government initiatives to increase EHR (Electronic Health Records) adoption, availability of big data in healthcare, growing pressure to curb healthcare costs, rising focus on improving patient outcomes, increasing venture capital investments, technological advancements and stringent government rules & regulations.

Application Outlook:

  • Clinical
  • Financial
  • Operational and Administrative

The “operational & administrative” services dominated the large market share in 2015. This can be attributed to their wide applications encompassing supply chain management, strategic analytics and workforce. However, the “financial” application is expected to hold the largest market share over the forecast period due to their growing adoption in private as well as government health settings.

Type Outlook:

  • Prescriptive
  • Descriptive
  • Predictive

Component Outlook:

  • Software
  • Hardware
  • Services

The “services” segment held the large share in 2015 and is anticipated to grow at a high CAGR in the next couple of years. Outsourcing of big data services is projected to dominate the service segment.

Regional Outlook:

North America is anticipated to hold the largest market share in the upcoming period due to growing demand to reduce rising healthcare costs, increasing cases of payment frauds, high per capita healthcare cost. However, Asia Pacific is expected to witness high market share during the forecast period owing to the increasing government initiatives to improve the medical infrastructure, growing population and promote economic growth.

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