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Healthcare Analytics Market Growth to Hit USD 145.20 billion at a CAGR of 24.58%, Globally, by 2029 - Exclusive Report by Data Bridge Market Research
Explore Further Details about This Research Healthcare Analytics Market Report https://www.databridgemarketresearch.com/reports/global-healthcare-analytics-market
In recent years, healthcare analytics market has become one of the significant needs across health systems. Healthcare analytics has brought several changes in the healthcare industry across various regions. Many programs, actions and federal policies were initiated by the governments to experience progress in healthcare services.
Global Healthcare Analytics Market was valued at USD 18.32 billion in 2021 and is expected to reach USD 145.20 billion by 2029, registering a CAGR of 24.58% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Healthcare Analytics Market Definition
Healthcare analytics assist healthcare professionals in finding opportunities to enhance patient engagement, clinical outcomes, patient engagement and care delivery. Healthcare analytics solutions make use of the vast amounts of collected data for offering organizations with actionable insights.
Some of the major players operating in the healthcare analytics market are IBM (US), Wipro Limited (India), Allscripts Healthcare, LLC (US), Cerner Corporation (US), Health Catalyst (US), Inovalon (US), McKesson Corporation (US), MEDEANALYTICS, INC. (US), Optum, Inc. (US), Oracle (US), SAS Institute Inc. (US), ExlService Holdings, Inc. (US), CitiusTech Inc. (US), IQVIA (US), and GENERAL ELECTRIC (US), among others.
Healthcare Analytics Market Dynamics
The increase in the cost of operations and the decline in reimbursements for laboratory services
The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for healthcare interoperability solutions across healthcare providers and healthcare payers.
Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.
Regulatory Compliance
Maintaining compliance with medical reforms and regulations raises the demand for these solutions.
The rise in the adoption of electronic health records (EHR)
It is a challenge to store the bulk data generated by the electronic health records (EHR) on the local storage devices due to the risk associated with the loss of essential data. Hence, deploying these healthcare analytics in the healthcare sector becomes critical to enable easy sharing and storage of big data.
Global Healthcare Analytics Market Scope and Market Size
The healthcare analytics market is segmented on the basis of type, component, delivery model, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Prescriptive Analytics
Predictive Analytics
Descriptive Analytics
On the basis of type, the market is segmented into prescriptive analytics, predictive analytics and descriptive analytics.
Component
Services
Software
Hardware
On the basis of component, the market is segmented into services, software and hardware. The services segment is sub-segmented into support services and business analytics services.
Delivery Model
On-Demand
On Premise
On the basis of delivery model, the market is segregated into on-demand and on premise.
Application
Clinical Analytics
Population Health Analytics
Operational and Administrative Analytics
Financial Analytics
On the basis of application, the market is segmented into clinical analytics, population health analytics, operational and administrative analytics and financial analytics. The clinical analytics segment is sub-segmented into quality improvement and clinical benchmarking, clinical decision support, regulatory reporting and compliance, comparative analytics/ effectiveness and precision health. The financial analytics segment is sub-segmented into claims processing, revenue cycle management (RCM), payment integrity and fraud, waste, and abuse (FWA) and risk adjustment and risk assessment. The operational and administrative analytics segment is sub-segmented into supply chain analytics, workforce analytics, enterprise performance, supply chain analytics, market intelligence, research analytics and strategic analytics. The population health analytics segment is sub-segmented into population risk management, population care management, patient engagement, clinical outcome management and activity-based costing.
End User
Healthcare Payers
Healthcare Providers
ACOS
HIES
MCOS
TPAS
On the basis of end user, the market is segmented into healthcare payers, healthcare providers and ACOS, HIES, MCOS, and TPAS.
Key questions answered in the Healthcare Analytics Market are:
What is Healthcare Analytics Market?
What was the Healthcare Analytics Market size in 2022?
What are the different segments of the Healthcare Analytics Market?
What growth strategies are the players considering to increase their presence in Healthcare Analytics Market?
What are the upcoming industry applications and trends for the Healthcare Analytics Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Healthcare Analytics Market?
What major challenges could the Healthcare Analytics Market face in the future?
What segments are covered in the Healthcare Analytics Market?
Who are the leading companies and what are their portfolios in Healthcare Analytics Market?
What segments are covered in the Healthcare Analytics Market?
Who are the key players in the Healthcare Analytics Market?
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