The Healthcare Analytics Market crossed US$ 29.16 billion mark in 2022 and is expected to hit US$ 151.31 billion by 2030, recording a CAGR of 22.7% during the forecast period.
Increasing government initiatives and increasing use of big data in healthcare organizations are some of the major factors driving the market growth. Growing use of big data in healthcare organizations encourage the usage of electronic health records (EHRs) by healthcare organizations. In the US, various federal mandates, such as the American Recovery and Reinvestment Act of 2009 (ARRA) encourage healthcare organizations to adopt EHRs, comply with pay-for-performance initiatives, and enhance information exchange between various health systems. The latest Healthcare Analytics Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Smart home market.
Healthcare analytics relates to the usage of immense amounts of collected data to provide institutions with actionable insights. This enables experts to identify opportunities in order to improve care delivery, clinical outcomes, operations, and patient engagement. The healthcare industry overall has been facing issues like lack of better patient care, high costs of treatment, less patient retention, and engagement, thus healthcare analytics are being incorporated to provide better care and for better operations of the industry.
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- Health Catalyst
- Allscripts Healthcare Solutions, Inc
- McKesson Corporation
- Optum, Inc.
- SAS Institute Inc.
- Medeanalytics, Inc.
Recent strategic developments in healthcare analytics market
The healthcare analytics market has undergone several significant developments, and a few of these have been mentioned below:
- In September 2020, Inovalon launched the Inovalon DataStream API, that allows any authorized cloud-based, traditional enterprise, or mobile app software system to benefit from the power of comprehensive patient-specific data and analytical derivations on-demand and in real-time.
- In March 2021, McKesson Corporation launched ScriptPAS, a pharmacy management solution for oncology practices and enhanced the company’s patient care portfolio. ScriptPAS is a fee-for-service offering designed to help Medically Integrated Dispensing (MID)-equipped practices provide faster access to care by reducing hurdles that delay treatment.
- In June 2021, Flatiron (US) partnered with Foundation Medicine, Inc. to integrate its solutions with OncoEMR to offer integrated genomic profiling to customers.
Target audience for the report:
- Life Science and pharmaceutical companies
- Healthcare Providers and payers
- Public health officials
- Government bodies, such as regulating authorities and policy makers
- Private equity firms and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Predictive Analysis
- Prescriptive Analysis
- Descriptive Analysis
- Deployment Model:
- On- Demand
- Clinical Analytics
- Financial Analytics
- Operational and Administrative Analytics
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
The research report provides deep insights into the market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of Healthcare Analytics Market during the forecast period, i.e., 2022–2030. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.
The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2022–2030? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Healthcare Analytics Market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Smart home market?
- What are the prominent market trends influencing the development of the Healthcare Analytics Market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Smart home market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Smart home market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Healthcare Analytics Market segments and regions.
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