North America expected to dominate healthcare analytics market and grow at highest CAGR. Factors like rising pressure to curb healthcare costs, big data in healthcare, technological advancements, growing awareness about benefits of analytics, & increase in venture capital investments are driving market growth.
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Healthcare Analytics Market growth is driven by federal healthcare mandates encouraging adoption of HCIT solutions to curb rising healthcare costs; benefits associated with use of analytics; increasing HCIT adoption; availability of big data in healthcare; technological advancements; & increase in venture capital investments.
The above mentioned healthcare analytics market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
2 Market Rank Analysis
3 Competitive Scenario
4 Partnerships, Agreements, Collaborations, and Alliances
5 Product and Service Launches, Product Upgrades, and Product Enhancements
Healthcare analytics market is expected to reach USD 24.55 Billion by 2021 from USD 7.39 Billion in 2016 at a CAGR of 27.1% from 2016 to 2021.
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Major factors driving growth of this market include increasing government initiatives to enhance EHR adoption, rising pressure to curb healthcare spending & need for improved patient outcomes, availability of big data in healthcare, rise in venture capital investments, & technological advancements.
Complete report of 149 market data Tables with 57 Figures across 318 Pages and in-depth TOC on "Healthcare Analytics and Medical Analytics Market" @ www.rnrmarketresearch.com/contacts…count?rname=63364 .
Healthcare analytics market is categorized on basis of type, application, component, delivery model, end user, and region. Based on type, market is categorized into descriptive, predictive and prescriptive analytics.
The prescriptive analytics segment is poised to grow at highest CAGR during the forecast period due to its ability to ensure synergistic integration of predictions and prescriptions.
Healthcare Analytics Market, by Application
- Clinical Analytics
- Financial Analytics
- Revenue Cycle Management (RCM)
- Risk Adjustment
- Operational and Administrative Analytics
- Supply Chain Management
- Workforce Management
- Strategic Analysis
- Population Health Analytics
Healthcare analytics systems reveal and understand historical patterns of data to predict and provide actionable insights to improve the performance of healthcare organizations. The outcomes reveal the best-suited treatments, disease patterns, patients at high risk, fraudulent claims, and evaluate physician performance.
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Healthcare analytics market is segmented into hardware, software, and services. The services segment is further segmented into support services and business analytics services.
In 2015, the services market is expected to witness the highest growth in the forecast period.
Key players in healthcare analystics market are IBM Corporation (U.S.), SAS Institute, Inc. (U.S.), Optum, Inc. (U.S.), Truven Health Analytics Inc. (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Verisk Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Allscripts Health Solutions (U.S.), MedeAnalytics (U.S.), Inovalon, Inc. (U.S.) and Health Catalyst (U.S.).
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