The global healthcare analytics market was estimated at $23.51 billion in 2020 and is expected to hit $96.90 billion by 2030, registering a CAGR of 15.3% from 2021 to 2030. Increase in adoption of big data in healthcare organizations, rise in government initiatives to escalate the adoption of electronic health records (EHRs) among healthcare organizations, and growing pressure in the healthcare sector to curb unnecessary expenditure fuel the growth of the global healthcare analytics market. On the other hand, lack of skilled labors and high implementation costs restrain the growth to some extent. However, use of cloud-based analytics across various healthcare providers is anticipated to pave the way for lucrative opportunities for the key players in the industry.
Key players in the industry-
- Cerner Corporation
- SAS Institute
- Health Catalyst
- Allscript Healthcare Solution
- HMS(Vitreoshealth)
- IBM Corporation
- MedeAnalytics Inc.
- Oracle Corporation
- Optum Inc.
- McKesson Corporation
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 at: https://www.alliedmarketresearch.com/request-sample/7853
Based on region, North America held the major share in 2020, garnering more than half of the global healthcare analytics market, due to increasing adoption of analytics solutions in the healthcare industry and presence of major players in the region. The market across Asia-Pacific would cite the fastest CAGR of 19.4% from 2021 to 2030. Growing government healthcare regulations to reduce the rising healthcare costs and increasing regulatory requirements propel the need for healthcare analytics in the region. This factor drives the market growth in this province.
Based on application, the financial analysis segment contributed to the largest share in 2020, holding more than two-fifths of the global healthcare analytics market. Rise in need to acclimatize in the ever-changing and unpredictable healthcare landscape drives the growth of the segment. The clinical analysis segment, on the other hand, would grow at the fastest CAGR of 18.5% throughout the forecast period. Growing demand from patients to track their health data and share it with their respective healthcare professionals for additional remedies and advices fuels the segment growth.
Based on component, the service segment accounted for nearly half of the global healthcare analytics market in 2020, and is projected to lead the trail by the end of 2030. Rise in demand for cloud-based healthcare analytics services during the global health crisis across the globe is expected to provide potential growth opportunities for the segment. However, the software segment would manifest the fastest CAGR of 16.6% during the forecast period. This is because majority of health care providers choose data warehouse to maintain proper operations of their organizations.
The healthcare analytics market in the APAC region has been rapidly growing in recent years and is expected to continue its growth in the coming years. The following are the latest trends observed in the APAC region:
- Increased adoption of electronic health records (EHRs) and big data analytics.
- Rising demand for predictive analytics to improve patient outcomes and reduce healthcare costs.
- Growing focus on patient-centered care and personalized medicine.
- Emergence of cloud-based solutions and mobile health technologies.
- Increased investments in healthcare IT infrastructure and analytics solutions.
- These trends indicate a growing recognition of the importance of data-driven decision making in healthcare and a desire to leverage the latest technologies to improve patient outcomes and efficiency.
Impact of COVID-19 on Healthcare Analytics Market-
- The outbreak of the pandemic led to increase in demand for upgraded analytics solutions among healthcare organizations to support the establishments during critical situation in the pandemic. This, in turn, has driven the global healthcare analytics market.
- This trend is most likely to continue till the pandemic is completely not over.
Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com