Selbyville, Delaware, June 16, 2021 (GLOBE NEWSWIRE) --
According to latest report “Healthcare Analytics Market by Product (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), Application (Operations Management, Financial Management, Population Health Management, Clinical Management) End-Use (Hospitals, Clinics), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of healthcare analytics will cross $23.5 billion by 2027.
Technological innovation in the field of healthcare analytics will increase adoption rates. Big data analytics in healthcare in still an evolving concept and is undergoing rapid transformation. Advances in data standardization coupled with growing recognition that electronic health records will no longer be enough for providing cost effective as well as quality care will supplement the market growth. Furthermore, upcoming advancements in healthcare analytics include applying analytics algorithm for analyzing patterns in digital images and using cognitive computing or machine learning for recognizing patterns in large scale data sets will boost the market expansion. However, dearth in skilled IT professional and issues related to data integrity and safety may hamper the market progression.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1400
Prescription analytics segment in the healthcare analytics market accounted for USD 1.9 billion in 2020. Prescriptive analytics is the final phase of big data analytics. The analytics solutions predict what is likely to happen along with suggesting actions to healthcare organizations for avoiding or reducing a negative circumstance and show the implications of each decision. For instance, in healthcare strategic planning prescriptive analytics can be used for leveraging operational and usage data along with economic data, population health and demographic trends. Thus, ability to continuously and automatically process data for improving prediction accuracy and providing better decision options will augment the segment growth.
The healthcare analytics market for population health management segment is anticipated to register 11.6% growth rate through 2027. Population health management programs use an analytics tool for aggregating data and for providing a comprehensive clinical picture of patients. Providers can use the data for tracking and improving clinical outcomes along with lowering costs. In addition, ability of these solutions to provide real time insights to administrators and clinicians enabling them to identify and address care gaps within patient populations.
Hospitals end-use segment in the healthcare analytics market will reach more than USD 17 billion by 2027 on account of the increasing number of hospitals, growing operational complexities and increasing patient. Also, in developed countries such as U.S. and Germany among others, nearly 80% of hospital sectors have installed EHR system with analytical software to increase efficiency, manage patient data and curtail the cost. Thus, increasing usage of EHR system along with analytical tool will spur the segment expansion
Asia Pacific healthcare analytics market is estimated to surpass USD 2.1 billion by 2027 owing to the development of EHR systems for population health management. Also, various programs and initiatives such as My health record in Australia and SEHAT in India among others are undertaken to renovate healthcare infrastructure. Such initiative will increase the acceptance of various analytical tools, thereby fostering the regional growth. Additionally, the growth of personalized medicines favoring better healthcare outcomes along with reduction in unnecessary medical costs will further fuel the sales of healthcare analytical software and tools or devices in the region.
Request for customization of this research report @
https://www.gminsights.com/roc/1400
A few notable companies operating in the market include IBM, McKesson Corporation, Allscripts Healthcare Solutions, Cerner Corporation, Athenahealth, Tenet Healthcare Corporation and Health Catalyst among others. Industry players are focusing on various strategies such as acquisitions, business expansion and novel service launches to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3 Healthcare Analytics Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Investment landscape
3.7 Technology landscape
3.8 Regulatory and reimbursement scenario
3.9 Porter's analysis
3.10 Competitive landscape, 2020
3.10.1 Company matrix analysis
3.11 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/healthcare-analytics-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.