Pune, India, July 13, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, North America healthcare analytics market is slated to reach USD 50.3 billion in valuation by the end of 2028.
The reports assist the interested parties in ascertaining the promising avenues by segmenting the market based on product type, application spectrum, and end-use ambit. It focuses on the geographical reach of the business sphere by enlisting the regions contributing to the revenue aspect of the industry through the review timeline.
Moreover, the study documents the names of established players in the marketplace, along with their basic profiles to give a clear insight into the competitive sphere.
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Massive investments employed in healthcare sector, technological advancement to aid the management of massive volume of medical records, and the use of Big Data in healthcare to efficiently predict the at-risk patients and create effective treatment plans are boosting the growth of industry.
For those unaware, healthcare data analytics uses cutting-edge techniques to assess the patterns in patients’ medical records. This acts as a helping hand for the medical professional in creating effective treatment plans to enhance the patient outcome.
Moreover, the unfolding of personalized and evidence-based medicine is further boosting North America healthcare analytics industry development.
Despite the optimistic outlook, a dearth of skilled IT professionals in healthcare vertical, coupled with issues regarding data integrity & safety are estimated to pose as threats to the progress of the business sphere in the forthcoming years.
COVID-19 Impact:
During the COVID-19 pandemic, healthcare analytics solutions helped in furnishing insightful forecasts for hospitals about the number of patients being admitted for the virus treatment. This proved as a great boon for the hospitals to manage the huge influx of patients, which in turn stimulated the industry outlook.
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Segmental Analysis:
In terms of product type, the predictive analysis segment accounted for 33% of revenue share in the market in 2021, given the surging demand for personalized medicine. Additionally, the use of such analytics is helping the healthcare sector to achieve efficiency.
Based on application scope, North America healthcare analytics industry share from population healthcare management vertical was worth USD 3.6 billion in 2021, due to the immense demand for improving the management of patient care and lowering the readmission rates.
Concerning end-use ambit, the hospitals segment retained a 70% revenue share in the year 2021, attributed to the capacity of hospitals to be well-equipped with advanced technologies and offer accurate treatments based on the patient’s health records. Analytics also helps hospitals in maintaining bed occupancy, patient volume, and inventory management to run efficient operations.
Regional Overview:
Experts have suggested that the U.S. industry is poised to grow at 19.4% CAGR during the stipulated time and yield revenues worth USD 44 billion by the end of 2028, ascribed to the widespread adoption of innovative analytics tools to manage healthcare facilities most effectively.
Competitive Dashboard:
The prominent companies in North America healthcare analytics market include Health Catalyst, Inc., International Business Machines Corporation (IBM), Optum, Inc., Influence Health, Inc., McKesson Corporation, Allscripts Healthcare Solution, Inc., Evolent Health, Inc., Cerner Corporation, GE Healthcare Systems, Athenahealth, Inc., Tenet Healthcare Corporation, Inovalon Holdings, Inc., Change Healthcare, and Computer Programs and Systems, Inc. among others.
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North America Healthcare Analytics Market, By Product (Revenue, USD Million, 2017-2028)
- Prescriptive Analysis
- Descriptive Analytics
- Predictive Analysis
North America Healthcare Analytics Market, By Application (Revenue, USD Million, 2017-2028)
- Clinical Management
- Operations Management
- Population Health Management
- Financial Management
North America Healthcare Analytics Market, By End-Use (Revenue, USD Million, 2017-2028)
- Clinics
- Hospitals
- Others
North America Healthcare Analytics Market, Regional Overview (Revenue, USD Million, 2017-2028)
- U.S.
- Canada
North America Healthcare Analytics Market, Competitive Dashboard (Revenue, USD Million, 2017-2028)
- Health Catalyst, Inc.
- International Business Machines Corporation (IBM)Optum, Inc.
- Influence Health, Inc.
- McKesson Corporation
- Allscripts Healthcare Solution, Inc.
- Evolent Health, Inc.
- Cerner Corporation
- GE Healthcare Systems
- Athenahealth, Inc.
- Tenet Healthcare Corporation
- Inovalon Holding, Inc.
- Change Healthcare
- Computer Programs and Systems, Inc.
Table of Content:
Chapter 1 Methodology
1.1 Definition and forecast parameters
1.1.1 Definitions
1.1.2 Methodology and forecast parameters
1.2 Data sources
1.3 References & sources
1.3.1 Secondary
1.3.2 Primary
Chapter 2 Executive Summary
2.1 North America healthcare analytics industry summary, 2017-2028
2.1.1 Country trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 End-use trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Industry outlook, 2017 - 2028
3.3 Major factor analysis
3.3.1 Drivers
3.3.1.1 Emergence of big data in healthcare
3.3.1.2 Emergence of personalized and evidence-based medicine
3.4 COVID-19 impact analysis
3.5 Porter's analysis
3.6 Competitive review, 2021
3.7 PEST analysis
Chapter 4 North America Healthcare Analytics Market, By Product
4.1 Key trends in North America healthcare analytics market, by product
4.2 Descriptive analytics
4.2.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
4.3 Predictive analysis
4.3.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
4.4 Prescriptive analysis
4.4.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
Chapter 5 North America Healthcare Analytics Market, By Application
5.1 Key trends in North America healthcare analytics market, by animal type
5.2 Operations management
5.2.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
5.3 Financial management
5.3.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
5.4 Population health management
5.4.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
5.5 Clinical management
5.5.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
Chapter 6 North America Healthcare Analytics Market, By End-use
6.1 Key trends in North America healthcare analytics market, by end-use
6.2 Hospitals
6.2.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
6.3 Clinics
6.3.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
6.4 Others
6.4.1 Market estimates and forecast, by country, 2017-2028 (USD Million)
Chapter 7 North America Healthcare Analytics Market, By Country
Related Report:
Asia Pacific Healthcare Analytics Market Forecast 2028, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Asia Pacific healthcare analytics market value is predicted to surpass $7.1 billion by 2027. Based on product, the regional market size from descriptive analytics is anticipated to observe around 17.5% CAGR during the forecast period of 2022-2028. The high demand for converting raw data into interpretable insights has fueled the adoption of descriptive analytics. Asia Pacific healthcare analytics industry share will showcase promising growth in the coming years due to its widespread applications in areas, such as patient management, disease prevention, and adherence to clinical protocols. Healthcare analytics consists of various qualitative and quantitative techniques to analyze different patterns and trends in the medical data records. Asia Pacific healthcare analytics market forecast will be positively affected by the increasing popularity of personalized medicines and the rising expenditure on the region's healthcare sector. Leading healthcare analytics companies, such as IBM Corporation, McKesson Corporation, and Allscripts Healthcare Solution, Inc, among many others, are developing effective predictive, descriptive, and prescriptive analytic solutions which will be used in operations, clinical, population health, and financial management applications. Hospitals and clinics will emerge as the major end-users of healthcare data analytic solutions.
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