Healthcare Analytics Market overview
Healthcare analytics are the solutions that include all the healthcare analysis activities that comprises various technologies and skills that help in the synthesizing and analyzing the healthcare data related to the healthcare industries. The various healthcare areas that utilize healthcare analytics include pharmaceuticals, R&D data, clinical data, and patient behaviours data. These analytics are helping to improve clinical care that is improving the healthcare results.
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The healthcare analytics is used in the hospital management for taking care of the patient records, diagnoses, and other data. The healthcare organizations all over the world are increasing the potential of healthcare analytics for improving the patient engagement and experience building. The treatment plan improvements that are mostly associated with pharma companies and organizations is one of the major factors that demands a healthcare analytics solution.
The global healthcare analytics market report presents the overall significant growth of the global market that will be holding a dominant market share with a market value of USD 12, 126.70 million in the year 2018 and it is showing a constant growth at a CAGR OF 27.1% over the forecast period till 2024. The global medical analytics market growth is anticipated to grow at a rapid pace attributing to the factors that includes the reduction of paperwork and much better treatment plans for improving the patient care and better services.
Market segmentation
The global healthcare analytics market is widespread and can be segmented on the basis of the delivery model, type, component, application and end users. In addition to it, the global market report also presents qualitative and quantitative assessments that depend on various factors and the market dynamics of the global analytics market.
On the basis of the type, the global healthcare analytics market can be classified into:
- Predictive analytics
- Descriptive analytics
- Cognitive analytics
- Prescriptive analytics
Based on the component, the global market can be split into:
- Hardware
- Software
- Services
On the basis of the delivery mode, the global healthcare market can be divided into:
- On-demand
- On-premise
On the basis of the end-user, the global healthcare analytics market can be classified into:
- Payers
- Providers
- Others
Regional analysis
Geographically, the overall market is being dominated by the American region due to its presence of the major companies that are well established and are conducting technological advancements, with the increasing adoption of IT healthcare. Meanwhile, the rising government initiatives and other agencies will be fueling the growth of the healthcare analytics market during the forecast period. The reduction in medical errors and the use of big data and the ehealth tools will be enhancing the growth of the healthcare analytics market. The European region holds the second largest market share followed by Asia-Pacific with countries of Japan, China, India, Australia and rest of the region.
Industry news
Macon Community Hospital in Tennessee has completed the first Cerner’s virtual cloud-based CommunityWorks EHR go-live system implementation. This virtual deployment gave access to 25-bed critical access and has been especially designed for the speciality and community hospitals. The hospital has chosen to implement the new EHR and will be fully deploying these systems.
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