Healthcare Analytics Market size to exceed $18,250.8 Mn by 2025
Published Date: February 28, 2019 Authors: Sumant Ugalmugle, Rupali Swain
Healthcare Analytics Market size is set to exceed USD 18,250.8 million by 2025; according to a new research report by Global Market Insights.
Providing precise healthcare solutions within budget is the prime objective of healthcare facilities around the world, resulting to increasing use of electronic health records and various analytical software. Increasing use of social media and technological advancements in analytics are major facilitators in achieving this objective.
Rising investment in the field for research and development of advanced healthcare analytics solutions is a prominent high impact rendering factor that will shape the market future, especially in the developed nations. Moreover, emergence of big data in healthcare industry will further augment to the market growth in coming years.
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Rapid implementation of healthcare analytics in developed regions and steadily rising popularity of the same in emerging economies should expand the industry size in coming years. Improvements in healthcare and economic indicators in developing countries will prove to be growth enablers. The need to curtail and control healthcare cost will result to implementation of healthcare analytics across the globe and fuel the global market growth.
However, dearth of skilled IT professionals in healthcare industry and data integrity and safety issues are some of the major factors hindering the healthcare analytics market growth.
Predictive analytics software market should exceed USD 5,805.3 million by 2025. Increasing use of predictive analytics in developed countries to design and develop future healthcare solutions should largely attribute to the segment growth.
Population health management market holds prime importance in healthcare; efforts towards improving offerings in this segment should majorly drive the market of healthcare analytics. Increasing application of healthcare analytics in population health management will result to a CAGR of over 12.7% during the forecast period.
Browse key industry insights spread across 180 pages with 174 market data tables & 8 figures & charts from the report, “Healthcare Analytics Market Size By Product (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Operations Management, Financial Management, Population Health Management, Clinical Management) By End-Use (Hospitals, Clinics, Others), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Germany market will expand with a significant CAGR of 12.9% during the forecast period. Penchant to use of advanced technologies and need to limit the healthcare cost should drive the France and UK healthcare analytics market. Increasing implementation of EHR will set the base of healthcare analytics in emerging economies of Europe in coming years.
Japan, being one of the most developed nations of the world, holds largest market share in the Asia Pacific market; increasing use of predictive and prescriptive analytics in japan will drive the market growth in coming years. The country is poised to witness high growth because of improving economic and healthcare factors resulting to adoption of advanced technologies. Moreover, the need to curtail the unnecessary healthcare cost which will only increase in future because of rapidly expanding elderly population base should fuel the market growth.
IBM, OptumHealth, McKesson corporation, Allscripts healthcare solutions, Cerner corporation and Health Catalyst are some of the key players in the market with advanced and unique product offerings. Moreover, companies such as GE Healthcare, Influence Health, Evolent Health, Inovalon Computer Programs and Systems etc. are in pursuit of gaining market share. Merger and acquisition, provision of customized analytics solutions and expansion in untapped geographical markets are some of the major strategies practiced by companies.
Healthcare analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2025, for the following segments:
Healthcare Analytics Market by Product
- Descriptive analytics
- Predictive analytics
- Prescriptive analytics
Healthcare Analytics Market by Application
- Operations management
- Financial management
- Population health management
- Clinical management
Healthcare Analytics Market by Application
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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