Healthcare Analytics Market To Reach $42.8 Billion By 2024: Grand View Research, Inc.
The global healthcare analytics (HA) market is expected to
reach USD 42.8 billion by 2024, according to a new report by Grand View
Research, Inc. Efforts to reduce the spiraling healthcare costs is facilitating
the usage of the healthcare analytics. Additionally, the benefits of HA include
the improvement of patient access to customized care, the furthering of
transparent operations to enable better public oversight, and innovation in
patient care delivery and services.
Furthermore, analytics play a major part in striving to
ameliorate the health economic efficiency. For instance, l’Assurance Maladie in
France employed analytics to assess the clinical safety of the class of
cholesterol-lowering drugs, statins, which have been implicated in causing
severe side-effects, and the derived results were used to introduce
evidence-based performance measures to address the cracks in the operational
system.
Browse full research report on Healthcare Analytics
Market: http://www.grandviewresearch.com/industry-analysis/healthcare-analytics-market
Further key findings from the study suggest:
- Descriptive
analytics held a significant share in 2015 owing to its applications in
process optimization in organizations. On the other hand, predictive
analytics is anticipated to grow at a lucrative rate over the forecast
period mainly due to its wide applicability in medical systems, such as
fraud prevention, disease prevalence forecasts, and risk assessment.
- The
services category dominated the component segment in 2015. Outsourcing of
these big data services contributed towards their growth in leading to the
high volume of services rendered. Moreover, the outsourcing of services
helps in cutting costs associated with infrastructure requirements and in
addition, avoids the requirement of skilled individuals to perform the
same task.
- The
hardware systems category dominated the component segment, high-cost of
the hardware, such as the use of computer systems and internet servers
contributed to its growth.
- On-premise
delivered analytic services dominated the delivery mode category with
around 54.0% share in 2015. However, the cloud-based delivery mode segment
is anticipated to grow at a profitable rate over the forecast period. The
benefits of the cloud system, which include remote data entry and
real-time data entry features are expected to result in the growth of this
segment.
- The
applications of the healthcare big data include financial applications,
operational & administrative applications, and clinical applications.
Operational and administrative applications governed the applications
segment and held a remunerative share in the year, 2015.
- The
demand for financial applications is anticipated to boost over the
forecast period. These applications include payment and claim settlements
and fraud prevention and risk analysis. Various initiatives undertaken by
the government, such as the Fraud Prevention System (FPS) from the CMS is
promoting its adoption.
- The
end-users of HA include payers, providers, and others. Payers held a
significant market share in 2015 and the providers are anticipated to grow
at a lucrative rate. The usage of these services by providers is for
population health management, quality improvement, and personalized care.
- North
America captured a significant share in the global market. Advanced
healthcare infrastructure in this region and the growing per capita
healthcare expenditure supported the greater consumption of these
services.
- The
Asia Pacific region is expected to witness gainful growth attributable to
the untapped opportunities in the countries including India and China.
- Some
key players operating in the healthcare analytics market include IBM
Corporation, Oracle Corporation, SAS, Cerner Corporation, Allscripts
Healthcare Solutions, Inc., Optum Health, Inc., and Verisk Analytics, Inc.
The notable initiatives in the industry include new product launches,
collaboration with government bodies, and investments directed towards R&D
efforts.
- For
instance, in December 2015 Truven Health Analytics, Inc. and Philips
Electronics N.V. integrated Truven Health Micromedex Solutions in the
management platform, the Tasy System. This integrated platform is
anticipated to facilitate fast and easy access to a wealth of
evidence-based medical information present in the drug interaction
repositories of Micromedex Solutions.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the global healthcare
analytics market on the basis of products, end-use, and region:
Global Healthcare Analytics Market by Type, 2013 - 2024
(USD Million)
- Descriptive
Analytics
- Predictive
Analytics
- Prescriptive
Analytics
Global Healthcare Analytics Market by Component, 2013 -
2024 (USD Million)
- Software
- Hardware
- Services
Global Healthcare Analytics Market, by Delivery Mode,
2013 - 2024 (USD Million)
- On-premise
- Web-based
- Cloud-based
Global Healthcare Analytics Market, by Application, 2013
- 2024 (USD Million)
- Clinical
- Financial
- Operational
and Administrative
Global Healthcare Analytics Market, by End-use, 2013 -
2024 (USD Million)
- Healthcare
Payers
- Healthcare
Providers
- Others
Healthcare Analytics Devices Market, By Region, 2013 -
2024 (USD Million)
- North
America
- U.S.
- Canada
- Europe
- UK
- Spain
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-healthcare-analytics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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