Middle East and Africa Healthcare Analytics Market by Type - (Predictive Analytics, Descriptive/Retrospective Analytics and Prescriptive Analytics), by application – (Financial Analytics, Clinical Analytics, Operational & Administrative Analytics), by end-user – (public health systems, healthcare providers, private healthcare providers, Monitoring agencies, Health Insurance companies, Clinical and Medical research bodies, technology vendors) and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The Middle East and Africa Healthcare analytics market is currently at $0.3976 Billion in 2015 and is estimated to reach $0.945 Billion by the end of 2020 at a growth rate of 18.95%. Healthcare analytics is an evidence-based approach for the collection of data through multiple sources and the analysis of data to depict certain patterns and trends for improvised healthcare interventions.
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With the rise in usage of IT in healthcare sector over the past years, fuelled the growth of analytics in healthcare, which uses chronological data and statistics to analyse the present trends and predict trends in the future, evaluate performance to improve business outcomes. This insurgency is believed to improve the efficiency, accuracy and service delivery for healthcare systems with improved quality and better patients care and clinical outcomes laterally with reduced hospital costs and readmissions.
There are few factors the healthcare analytics market must overcome to have a sustained growth through the future like Security issues, leaking of confidential information, technological and cultural barriers at the data source point, and low availability of skilled workforce. In addition, the hurdles that are associated in creating network of analytics as there are fragmented international political and economic relations may also affect the market growth.
The Middle East and Africa healthcare analytics market is categorised on the basis of components, types, applications, delivery modes, end users and regions. On type basis, the market is divided into predictive analytics, prescriptive analytics and descriptive/retrospective analytics.
By application it is again segmented into Clinical Analytics, Operational & Administrative Analytics and Financial Analytics. It can also be categorised by end-users such as healthcare providers, Medical research bodies, public health systems, private healthcare providers, Monitoring agencies, Health Insurance companies, and Clinical & technology vendors.
The healthcare providers segment among the end users is predicted to grow at the highest CAGR during the forecast period. Federal mandates for the implementation of EHRs and ICD-10 code sets, swing towards value-based medicine and also, the increased focus on reduced costs and quality care are excelling the growth of this segment.
On the basis of geography, the MEA market is segmented and analysed under regions of Middle-East and Africa. The Middle-East & Africa region accounts to only about 4.6% of the global healthcare analytics market in 2015 but is predicted to witness the lowest growth rate in the forecast period.
The healthcare analytics market is highly competitive, with several big as well as emerging market players present in the market which include SAS Institute, Inc., Optum, Inc., IBM Corporation, Truven Health Analytics Inc., Cerner Corporation, Verisk Analytics, Inc., McKesson Corporation, Allscripts Health Solutions, Oracle Corporation, MedeAnalytics, Inovalon, Inc. and Health Catalyst.
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