DUBLIN, Jan. 31, 2022 /PRNewswire/ — The “Healthcare Analytics – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s providing.
Global Healthcare Analytics Market to Reach US$59.7 Billion by the Year 2026
Amid the COVID-19 disaster, the worldwide marketplace for Healthcare Analytics estimated at US$14.6 Billion within the yr 2020, is projected to attain a revised measurement of US$59.7 Billion by 2026, rising at a CAGR of 26.6% over the evaluation interval.
Global healthcare programs are more and more adopting data-backed decision-making instruments to increase affected person outcomes and experiences. Healthcare analytics embrace completely different applied sciences, abilities, and strategies that synthesize and analyze healthcare information throughout the healthcare business.
Growth within the international market is primarily pushed by components akin to rising enterprise capital financing, authorities efforts to improve EHR utilization, mounting stress to cut back healthcare expenditure and increase affected person outcomes, the rising relevance of real-world information, and value-based care, and rise of huge information analytics.
Other components shaping development out there embrace the rising utilization of scientific strategies to cowl efficiency deficits, the shift from paper charts to real-time monitoring programs, and the utilization of digital well being data for gathering affected person information. The COVID-19 pandemic accelerated the adoption of superior analytical options that help organizations in coping with complexities and produce optimum outcomes.
Data analytics are actively serving to healthcare programs to determine at-risk populations and getting ready for well timed therapies. The market additionally stands to profit from the rise of descriptive analytics which kinds a foundation for the efficient utility of prescriptive analytics.
Descriptive Analytics, one of many segments analyzed within the report, is projected to develop at a 24.9% CAGR to attain US$36.2 Billion by the top of the evaluation interval. After a radical evaluation of the enterprise implications of the pandemic and its induced financial disaster, development within the Predictive Analytics phase is readjusted to a revised 27.3% CAGR for the following 7-year interval.
This phase at present accounts for a 29.6% share of the worldwide Healthcare Analytics market. The descriptive analytics phase stands to achieve from its capacity to analyze historic information and generate actionable insights. Predictive analytics is taken into account to be a significant enterprise intelligence pattern. The healthcare enterprise intelligence goals to allow physicians to make data-enabled choices shortly and improve remedy. Data-enabled decision-making is useful for sufferers with sophisticated medical histories, by a number of circumstances.
Prescriptive Analytics Segment to Reach $9.7 Billion by 2026
A prescriptive analytics mannequin gives preferrred options for an array of conditions. It leverages the in-depth information mining strategies, together with information mining, predictive modeling, and machine studying (ML). The marketplace for prescriptive analytics is predicted to profit from development in cyber-crimes which is boosting the necessity for prevention and forecast of crimes; and development of novel applied sciences like IoT and Big Data.
In the worldwide Prescriptive Analytics phase, USA, Canada, Japan, China and Europe will drive the 29.1% CAGR estimated for this phase. These regional markets accounting for a mixed market measurement of US$1.8 Billion within the yr 2020 will attain a projected measurement of US$11.9 Billion by the shut of the evaluation interval.
China will stay among the many quickest rising on this cluster of regional markets. Led by international locations akin to Australia, India, and South Korea, the market in Asia-Pacific is forecast to attain US$373.5 Million by the yr 2026.
The U.S. Market is Estimated at $10.4 Billion in 2021, While China is Forecast to Reach $3.3 Billion by 2026
The Healthcare Analytics market within the U.S. is estimated at US$10.4 Billion within the yr 2021. The nation at present accounts for a 58.2% share within the international market. China, the world’s second largest economic system, is forecast to attain an estimated market measurement of US$3.3 Billion within the yr 2026 trailing a CAGR of 30.7% by way of the evaluation interval.
Among the opposite noteworthy geographic markets are Japan and Canada, every forecast to develop at 22.9% and 24.7% respectively over the evaluation interval. Within Europe, Germany is forecast to develop at roughly 24.4% CAGR whereas Rest of European market (as outlined within the research) will attain US$4.3 Billion by the top of the evaluation interval.
The development within the North American area is pushed by a medley of things encompassing elevated regulatory necessities such because the federal regulation governing Health Insurance Portability and Accountability (HIPAA); rising federal healthcare necessities to curb hovering healthcare prices; strong healthcare infrastructure; rising adoption of digital well being data; governmental efforts associated to inhabitants well being administration, personalised medication, and value-based reimbursements.
The digitization of the healthcare system, rising public expenditure on healthcare infrastructure, and the surging reputation of huge information analytics are major components fueling the healthcare analytics market demand in growing international locations and the Asia-Pacific area.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Drives Prominence of Healthcare Analytics
- Healthcare Organizations Stay Ahead of COVID-19’s Fluid Needs by Exploiting Predictive Analytics
- Healthcare Analytics Adoption to Grow Further amid COVID-19 Recovery
- Strategies to Derive Value from Healthcare Analytics
- Importance of Sharing Healthcare Data Picks up Momentum within the Covid-19 Era
- Pandemic Analytics Finds Gains
- How IT is Revolutionizing Healthcare Industry
- Healthcare Analytics: An Introduction
- Healthcare Analytics Playing a Vital Role in Patient Care
- A Review of Select Application Areas of Healthcare Analytics
- Advantages of Healthcare Analytics
- Challenges
- Core Elements
- Market Outlook
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 135 Featured)
- IBM Corporation
- 3M Company
- Oracle Corporation
- Philips Healthcare
- SAS Institute, Inc.
- Cerner Corporation
- McKesson Corporation
- Allscripts Healthcare Solutions, Inc.
- Information Builders, Inc.
3. MARKET TRENDS & DRIVERS
- The Role of Big Data Analytics in Healthcare
- Big Data Analytics Playing a Pivotal Role in Healthcare
- COVID-19 Accelerates Digitalization in Healthcare Benefiting Healthcare Analytics
- Big Data Spurs Cloud Adoption in Healthcare
- “The Cloud” is a Perfect Fit for Healthcare Big Data
- Need for Healthcare Analytics to Pivot Diverse Functions
- Predictive Analytics Made More Important by COVID-19
- Digital Health Leverages Predictive Analytics
- Analytics for Improving Security and Minimizing Fraud
- Healthcare Supply Chain Management: Key to Unleash Efficiency and Cost Savings
- Growing Relevance of Big Data and Analytics
- Increasing Popularity of Telehealth Draws Attention
- Prominence of Big Data in Mobile Health Applications
- Analytics Play an Important Role in Improving Security and Minimizing Fraud
- COVID-19 Breaks Barriers to Wider Adoption of AI & Predictive Analytics in Healthcare
- Select Use Cases
- Hospitals Bet on Actionable Insights from AI & Predictive Analytics to Treat & Triage Patients amid COVID-19
- Rising Adoption of Electronic Health Records to Benefit Demand
- Pharmaceutical Companies Adopt Analytics to Drive Profits
- Real time Alerting: An Emerging Area
- Big Data Holds Potential in Cancer Treatment
- Types of Analytics for Insurance
- Edge Computing and Analytics Aid in Better Patient Outcomes
- Data Science in Healthcare
- Application Insights
- Data-driven Evidence-based Research
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For extra details about this report go to https://www.researchandmarkets.com/r/3gd4kr
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