Global Healthcare Analytics Market to Record 16.30% CAGR Through 2027

April 29, 2021

According to the recent research report titled ‘GLOBAL Healthcare Analytics Market 2019-2027’, available with Market Study Report LLC, global healthcare analytics market is projected to record a CAGR of 16.30% over 2019-2027.

Growing usage of big data technologies and rising acceptance of business intelligence analytics are primarily stimulating global healthcare analytics market growth. Surging demand for population-based health analytics is also adding significant traction to the industry development.

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Emerging digital technologies including telehealth and rapid advancements in cloud-based analytics solutions are further augmenting the industry share.

Speaking of the restraints, lack of skilled professionals along with concerns regarding data security and privacy management could hinder the worldwide healthcare analytics industry remuneration. Moreover, constant use of prevailing analytics tools and increasing data breaches and medical identity theft cases are negatively impacting the business expansion.

Based on component type, the market is split into hardware, software, and services. As per delivery mode, the industry is classified into on-premise and on-demand. Moving on to analytics type, the market is divided into diagnostic analytics, prescriptive analytics, predictive analytics, and descriptive analytics.

Elaborating on application spectrum, global healthcare analytics market is segmented into financial analytics, clinical analytics, population health analytics, and operational & administrative analytics. As per end user scope, the industry is bifurcated into provider, payer, and ACOS, HIES, MCOS, & TPAS.

Citing the regional landscape, leading contributors to global healthcare analytics market valuation are North America (Canada, United States), Europe (Russia, Italy, Spain, France, Germany, United Kingdom), Latin America (Brazil, Mexico), Asia Pacific (South Korea, China, Japan, India), and Middle East & Africa (South Africa, Saudi Arabia, Turkey, United Arab Emirates.)

The report states that Asia Pacific is likely to generate lucrative returns for global healthcare analytics in the ensuing years, owing to widespread adoption of the technology to handle a large amount of data produced by healthcare providers.

Top firms swaying global healthcare analytics market dynamics are Information Builders Inc., Verisk Analytics Inc., Oracle Corporation, SAS Institute Inc., IBM Corporation, Optum Inc., Cerner Corporation, MedeAnalytics, McKesson Corporation, Elsevier B.V., 3M Company, Health Catalyst, and Allscripts Healthcare Solutions Inc.

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