Grand View Research, Inc. – Market Research And Consulting.According to a new report published by Grand View Research, the rising number of patient registries, mounting demand to reduce healthcare costs, increase patient quality, and widespread use of big data and data-driven decision-making, along with electronic health records (EHRs) are a few of the major factors driving the demand for healthcare analytics market.
The global healthcare analytics market size is expected to reach USD 46.1 billion by 2027 and is expected to expand at a CAGR of 7.5% over the forecast period. The overwhelming scope of the global healthcare industry to make it wiser, more knowledgeable choices in order to produce more value and healthier results, propelling the healthcare analytics market forward. Furthermore, the government's growing regulatory presence places a greater emphasis on the industry’s transparency, governance, and supervision.
The COVID-19 pandemic has accelerated the implementation of analytics solutions, that can assist companies in managing the challenges of advanced analytics and supporting optimum outcomes. The increased use of analytics tools leads to the management of future risks and delivery of tangible benefits, such as improving provider quality through data and analytics services, which is projected to drive the market growth.
Healthcare Analytics Market Report Highlights
• On the basis of type, the descriptive analytics type segment dominated the global market in 2019 owing to the benefits offered by this solution in analyzing historical data to gain actionable insights.
• On the basis of components, the hardware component segment dominated the market in 2019 owing to increasing costs associated with the development and deployment of hardware components.
• On the basis of delivery mode, the on-premise segment was the leading delivery mode segment in 2019 owing to enhanced security & control offered by the delivery mode.
• Based on the application, the financial application segment accounted for the largest revenue share of over 35% in 2019. The increasing burden on financial teams at hospitals and health systems for identifying opportunities to reduce costs without affecting the quality of care is driving the adoption of healthcare analytics for financial applications.
• In August 2020, CitiusTech announced the launch of support for Out-Of-Area (OOA) record collection projects specific to Blue Health Plans through its SCORE+ platform.
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Healthcare Analytics Market Segmentation
Grand View Research has segmented the global healthcare analytics market on the basis of type, component, delivery mode, application, end-use, and region:
Healthcare Analytics Type Outlook (Revenue, USD Million, 2014 - 2027)
Healthcare Analytics Component Outlook (Revenue, USD Million, 2014 - 2027)
Healthcare Analytics Delivery Mode Outlook (Revenue, USD Million, 2014 - 2027)
Healthcare Analytics Application Outlook (Revenue, USD Million, 2014 - 2027)
Operational and Administrative
Healthcare Analytics End-use Outlook (Revenue, USD Million, 2014 - 2027)
Healthcare Analytics Regional Outlook (Revenue, USD Million, 2014 - 2027)
Middle East & Africa
List of Key Players of Healthcare Analytics Market
Verisk Analytics, Inc.
Truven Health Analytics, Inc.
Allscripts Healthcare Solutions, Inc.
SAS Institute, Inc.
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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