At 27.6% CAGR, Healthcare Analytics Market Size to Cross USD 162.69 Billion by 2028, Says Brandessence Market Research


The market size of Healthcare Analytics is estimated at $29.54 billion in 2021 and expected to achieve $162.69 billion until 2028 grow with one CAGR of 27.6% over the forecast period.

LONDON, September 21, 2022 /PRNewswire/ — Increasing adoption of big data in healthcare organizations, rising popularity of personalized medicine, and increasing acceptance of healthcare analytics are some of the key factors driving the growth of the global healthcare analytics market. “Report on market share analysis of companies and trends in healthcare analytics By Type (Cognitive Analytics, Descriptive Analytics, Prescriptive Analytics, Predictive Analytics), By Component (Services, Software, Hardware), By Delivery Model (On-Demand, On-Premise), By Application (Operation & Administrative Analytics, Clinical Analytics, Population Health , financial analysis)based on regional and segment forecasts 2022 – 2028″.

Get a sample of the report below: https://brandessenceresearch.com/requestSample/PostId/317

Healthcare Analytics Market: Market Scope

The global Healthcare Analytics market indicates that the market will experience a steady growth trajectory in the coming years. The whole healthcare industry has faced many problems, such as: B. the lack of better patient care, the rapid increase in treatment costs, lower patient retention, the decline in engagement rates, and others. Hence, health analytics has been incorporated into many different aspects of this industry to provide patients with better care and better operations of this industry. These are some of the major factors driving the growth of the healthcare analytics industry. The size of the healthcare predictive analytics market is set to grow as the market sees unbridled demand.

VitreosHealth, SCIO Health Analytics, Cotiviti, CitiusTech, McKesson Corporation, Optum, Inc., IBM, Cerner, Oracle, SAS Institute, Inc., IQVIA. Verisk Analytics, Inc., Inovalon, Elsevier, Medeanalytics, Inc., Truven Health Analytics, Inc. and Allscripts Healthcare are some of the major companies in the market. The major players in global health analytics are working to establish dominance in terms of the services provided to clients and how they are working towards creating an environment where analytics is key to understanding patterns and helping to transform the Find results that result in market growth.

Healthcare Analytics Market: Segmentation Analysis

The healthcare analytics market size has been segmented to determine that the descriptive analytics type will have the largest market share. Descriptive analytics has been widely used in the pandemic to study the historical data and patient stories to study the different types of viruses, which is an important factor that will drive the growth of this segment. Descriptive analysis has proven to be an important tool to understand what happens when historical data is accessed. Predictive analytics is another key market segment that is set to have the largest market growth in the coming years.

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The largest component in health analytics is the service segment with a one-third market share. The industry has made several investments in the amount of capital in the IT industry for the development of the platforms and data digitization for analytics. Many companies don’t have a data analysis component in the companies, which is why they outsource the data analysis aspect of their IT. This will lead to the growth of data analytics companies offering a range of services to various companies. The increase in services offered by the data analytics companies has been responsible for the overall growth in this segment. The healthcare market data will show strong growth of the market.

By type

  • Cognitive Analytics
  • Descriptive Analytics
  • Prescriptive Analytics
  • Predictive Analytics

By component

  • Services
  • software
  • hardware

By deployment model

through application

  • Operational and management analysis
  • Clinical analytics
  • population health
  • financial analysis

By end users

  • health care payers
  • life science company

Healthcare Analytics Market: Key Factors

The growth drivers of healthcare analytics include the rapid technological advancement and the massive investments of the healthcare industry in the development of IT and digitization as they have become the main factors behind the enormous growth of the healthcare analytics industry. The analytics platforms currently being used by healthcare facilities around the world help manage patients and their patient engagement, which can help ensure better care. The use of the analysis platforms in the healthcare sector not only increases the productivity of the staff, but also improves general patient management since the nursing staff is relieved.

Health analytics can also be used for the various functions in a particular facility for managing donations and grants given to a hospital, appointment scheduling, patient records and insurance claims, etc. It also improves the quality of care provided to patients, but it also provides insights for managing overall business facilities, improving patient care, managing disease spread, etc.

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Government initiatives as well as massive cash flows in the healthcare industry are also driving innovation and are responsible for the increasing acceptance of analytics platforms by healthcare institutions. The analysis platforms are used by different institutions to manage and interpret clinical data from different conducted studies, to analyze the data and to study the historical data.

received methodology at: https://brandessenceresearch.com/requestMethodology/PostId/317

Latest news:

PINC AI launched INsights, an expanded technology offering for on-demand, customized healthcare analytics

On January 19, 2022; PINC AI, Premier, Inc’s technology and services platform, has introduced INsights, an advanced healthcare self-service solution for creating customized on-demand analytics. INsights is a vendor-agnostic analytics platform that accesses PINC AI’s clean, standardized, and risk-adjusted health data, including all US data. Covers more than 45 percent of inpatient hospital discharges. INsights users leverage pre-engineered analytics developed by PINC AI and run custom data queries and visualizations using PINC AI or their own data sources.

Healthcare Analytics Market: Key Trends

Healthcare analytics trends suggest that the coronavirus pandemic has aided the industry growth as the need for digital solutions and better analytics tools to manage the patient burden in the healthcare industry as a whole has increased. The amount of clinical data generated during the pandemic using the analytical tools and platforms helped the professionals and researchers to get better results and predict the trends in the diseases much better. Growth trends in healthcare analytics indicate that the market will continue to grow post-pandemic.

Healthcare Analytics Market: Regional Analysis

The regional analysis shows that the largest market share in recent years was in terms of region North America. The region has the most modern healthcare facilities with the introduction of many platforms and better availability of technology, which has resulted in a large market share for the region. The increase in this burden of the chronic element and the increase in the geriatric population have all resulted in organizations needing to adopt the analytical tools. One factor that has worked for the market has been the presence of the major players in these markets that are contributing to the growth of the market. The market here will continue to grow in the coming years.

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The market that grows the fastest will be this one Asia Pacific Market as this market is developing rapidly and there is an increase in purchasing power and population growth which has led to the growth of the region. There are also significant advances in this industry in the region that have contributed to its growth.

The Special Needs Healthcare Analytics Market report is also available for the following region:

North America

Europe

  • Germany, France, Great Britain, Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, rest of Europe

Asia Pacific

  • South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, rest of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi ArabiaUAE, Egypt, South Africa, Rest of MEA

Get full access to all reports: https://brandessenceresearch.com/healthcare/healthcare-analytics-market-global

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