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Healthcare Analytics Market Size

  • Report ID: GMI1400
  • Published Date: Nov 2023
  • Report Format: PDF

Healthcare Analytics Market Size

Healthcare Analytics Market size accounted for around USD 16.4 billion in 2022 and is expected to reach USD 55.6 billion by 2032. Emergence of personalized and evidence-based medicine is widely prompted for use in healthcare decision making and is associated with effective outcomes for patient. It offers enhanced medication selection and targeted therapy, increased patient compliance, improves cost effectiveness, helps in developing novel therapeutic strategies, promotes consistency in treatment & optimal outcomes, etc.

 

Healthcare Analytics Market

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Also, it serves a diverse purpose within an organization, including managing grants and donations, patient records, appointment scheduling, and processing insurance claims. For instance, the Health Data Analytics Initiative at the Grainger College of Engineering in Illinois serves as a collaborative hub, connecting clinical investigators, engineers, artificial intelligence (AI) specialists, and data scientists to advance research quality using AI platforms and analytical tools. Thus, these factors are accelerating the demand for personalised and evidence-based medicine, thereby augmenting the market progress.

 

Healthcare analytics, a healthcare IT solution, refers to tools analyzing current and historic data to visualize trends and assists in forecast modelling. Healthcare analytics helps in enhancing the quality of clinical care, improves outreach, provides actionable insights, and manages the spread of diseases, among others. Benefits of healthcare analytics includes early detection of diseases, prevents unnecessary visits to doctors, provide precise results of patient’s tests, while also enabling healthcare facilities to be well prepared for disease management and providing optimum care services.

 

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global healthcare analytics industry size was around USD 16.4 billion in 2022 and is expected to reach USD 55.6 billion by end of 2032.

The financial management segment held the market share of 33.5% in 2022 and is expected to grow through 2032 as healthcare institutions are increasingly focusing on minimizing the overall cost of treatments while delivering optimum quality of care for patients.

North America healthcare analytics market share is expected to reach more than 63% by 2032 attributed to its cutting-edge healthcare facilities, widespread adoption of advanced platforms, and robust technological infrastructure.

McKesson Corporation, IBM Corporation, OptumHealth, Inc., Allscripts Healthcare Solution Inc., Oracle (Cerner) Corporation, Athenahealth, Inc., Inovalon Holding Inc, Computer Programs and Systems, Inc., Change Healthcare, Tenet Healthcare Corporation, GE Healthcare, Evolent Health, and Influence Health Inc.

Healthcare Analytics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 202
  • Countries covered: 19
  • Pages: 120
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