Healthcare Analytics Market Size, Industry Growth and Forecast to 2026
The size of the worldwide healthcare analytics market reached USD 11.59 billion in 2018 and is expected to achieve USD 80.21 billion by 2026, demonstrating a compound annual growth rate (CAGR) of 27.5% over the forecast period.
Fortune Business Insights has announced new analysis on Healthcare Analytics Market Status 2022-2028 which has been prepared based on an in-depth market analysis with inputs from industry experts and top vendors in the business. The report covers the market landscape and its development prospects over the coming years. The report also contains a discussion of the key vendors operating in this market.
The market analysis report speaks about the growth rate of Healthcare Analytics Market till 2028 manufacturing process, key factors driving this market with sales, revenue, and price analysis of top manufacturers of Market, distributors, traders and dealers of Healthcare Analytics Market.
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Major Players Mentioned in the Healthcare Analytics Market Research Report
- Cerner Corporation
- IBM Corporation (IBM Watson)
- Flatiron Health
- Linguamatics
- Allscripts Healthcare, LLC
- Epic Systems Corporation
- Health Catalyst
- Inovalon
- Others
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Market Drivers:
The emergence of big data has caused a significant change in the way information is gathered and analyzed. Big data encompasses vast amounts of information produced through the digitalization of numerous sources, which is then consolidated and analyzed using specialized technologies. In the realm of healthcare analytics, big data utilizes population or individual-specific health data to potentially reduce the risk of epidemics, treat illnesses, and lower expenses, among other advantages.
Furthermore, analytics based on big data help hospitals and healthcare providers forecast patient admissions, enabling them to identify issues such as excessive readmissions, pinpoint contributing factors, and implement new strategies to reduce similar outcomes in the future. This data is also used to evaluate a hospital’s performance. By examining patient histories and hospital performance, gaps in care and opportunities to improve healthcare delivery can be identified and addressed, ultimately enhancing overall patient care.
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The report provides insights on the following pointers:
Market Penetration: Comprehensive data on the product portfolios of the top players in the Healthcare Analytics Market.
Product Development/Innovation: Detailed information about upcoming technologies, R&D activities, and market product debuts.
Competitive Assessment: An in-depth analysis of the market’s top companies’ market strategies, as well as their geographic and business segments.
Market Development: Information on developing markets in its entirety. This study examines the market in several geographies for various segments.
Market Diversification: Extensive data on new goods, untapped geographies, recent advancements, and investment opportunities in the Healthcare Analytics Market.
The report has been collated on the basis of synthesis, analysis, and interpretation of data accumulated with regards to the parent market from various resources. Additionally, a study has been made of the economic conditions and other economic indicators and factors to evaluate their respective impact on the Healthcare Analytics Market, along with the present impact, so as to make strategic and informed forecasts about the scenarios in the market. This is primarily because of the untapped potential present in developing nations in terms of product pricing and revenue generation.
Regional Analysis:
The North American healthcare analytics market reached a value of USD 53.44 billion in 2018 and is projected to experience the most significant growth in the coming years. The region benefits from a strong healthcare infrastructure, widespread use of advanced technologies, increasing venture capital investment, and the widespread adoption of electronic health records in healthcare facilities, all of which will contribute to the expansion of the market. Additionally, the presence of major industry players’ headquarters in this region will also contribute to the growth of the industry.
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