Pune, India, Feb. 03, 2021 (GLOBE NEWSWIRE) -- According to the report, Healthcare Analytics market size is projected reach USD 80.21 billion by 2026. Global Healthcare Analytics market was USD 11.59 billion in 2018 and is anticipated to exhibit a CAGR of 27.5% during the forecast period set between 2019 to 2026.
Healthcare analytics market in North America was valued at USD 53.44 billion in 2018 and is also ex-pected to observe the highest growth during forecast period.
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Developed Healthcare Infrastructure to Facilitate Growth
The emergence of big data in healthcare can be a vital factor in boosting the healthcare analytics market revenue during the forecast period. Moreover, the rising venture capital investments by major companies will contribute positively to the healthcare analytics market trends in the forthcoming years. For instance, Cigna Ventures, a venture capital fund company invested $29.5M in Arcadia, a healthcare data and software company. The new development of Arcadia will help enhance patient care and adoption of value-based care models along with access to resources and tools to health care professionals
Cerner Corporation, an American health information technology solutions and services company launched a trailblazing platform, project Apollo. The new cognitive platform will provide computing resources to its healthcare users. The cloud-based automation platform is built on AWS infrastructure for speedy innovations to eliminate manual steps that cast obstructions for new advancement. The launch of the platform will have a positive impact on the healthcare analytics market share owing to the its next-gen technology for healthcare clients.
The launch of the platform will have a positive impact on the healthcare analytics market share owing to the its next-gen technology for healthcare clients. Moreover, the deal between the Cerner and Geisinger will bolster healthy growth of the market during the forecast period.
INDUSTRY DEVELOPMENT:
- August 2019 Clarivate Analytics launched Cortellis Digital Health Intelligence solution. The solution is first-of-its kind covering global digital health ecosystem. This will help the drug, device, and technology developers to fully use the digital technology.
- February 2018 Infor, a leader in providing industry-specific cloud applications launched Infor Healthcare Enterprise Analytics. This solution will provide healthcare organizations to transform complex data into a comprehensive picture of patient and population health
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Big Data is Transforming Healthcare Analytics Market
The advancement in technologies along with growing venture capital funding will aid the market in the region. Moreover, the adoption of electronic health records and presence of eminent players in the region. Europe is expected to hold a major share in the global market owing to the rising emphasis on healthcare and favorable reimbursement policies.
Asia Pacific is predicted to witness steady growth due to the growing awareness and adoption of healthcare analytics. Moreover, the developing healthcare infrastructure and high spending on healthcare will contribute positively to the market in Asia Pacific.
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The government backing for the technological developments in the healthcare sector is boosting healthcare analytics market. Moreover, huge investments are being made in digital healthcare organi-zations for the development of several products and solutions such as mhealth apps, IOT based healthcare solutions, electronic health records and big data analytics.
- IBM Corporation (IBM Watson)
- Flatiron Healt
- Linguamatics
- Allscripts Healthcare
- Epic Systems Corporation
- Health Catalyst
- Inovalon
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Global Healthcare Analytics Market Segmentations:
By Product
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
By Application
- Financial Analytics
- Population Health Analytics
- Clinical Analytics
- Operations and Administrative analytics
By End User
- Payers
- Providers
- Others
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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