Healthcare Analytics Market Is Witnessing Significant Growth Due To Growing Demand Of Personalized Medication & Treatment Till 2025
The
global healthcare/medical analytics market is expected to
reach USD 53.65 billion by 2025, according to a new report by Grand View
Research, Inc. Increasing need to reduce healthcare expenditure among
hospitals, and other healthcare providers is anticipated to boost growth in the
market.
With
the advent of data-enriched tools such as mHealth, eHealth, Electronic Health
Records (EHR), and mobile applications, the communication gap between
caregivers and patients has reduced. These tools generate tremendous data,
which can be used for personalized treatments.
Generally,
patients may hesitate to use these tools, which might affect the implementation
of analytics. However, with the combination of artificial and human
intelligence data analytics, which offer wide opportunities to further
customize medical approaches, the demand for these tools is anticipated to
increase over the forecast period.
Hospitals
are now using healthcare analytics to manage the number of workers working in a
particular shift, for instance, a hospital in Paris uses healthcare analytics
to predict the number of patients that may be hospitalized. This data can be
used to decide the number of staff members that will be needed for a particular
shift, which helps in reducing labor cost in hospitals.
Browse full
research report on Healthcare Analytics Market: www.grandviewresearch.com/industry-analysis/healthcare-analytics-market
Further key findings from the report suggest:
- Descriptive analytics held a significant share in
2015 owing to its applications in process optimization in organizations.
- 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.
- The hardware systems category dominated the
component segment, high-cost of the hardware contribute to its growth.
- On-premise delivered analytic services
dominated the delivery mode category with around 54.0% share in 2015.
- Operational and administrative applications
governed the applications segment and held a remunerative share in the
year, 2015.
- Payers held a significant market share in 2015
and the providers are anticipated to grow at a lucrative rate.
- 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.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the global healthcare/medical analytics
market on the basis of type, component, delivery mode, application, end-use and
region:
Type
Outlook (Revenue, USD Million; 2014 - 2025)
- Prescriptive
- Descriptive
- Predictive
Component
Outlook (Revenue, USD Million; 2014 - 2025)
- Software
- Hardware
- Services
Delivery
Mode Outlook (Revenue, USD Million; 2014 - 2025)
- On-premise
- Web-based
- Cloud-based
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Clinical
- Financial
- Operational
and Administrative
End-use
Outlook (Revenue, USD Million; 2014 - 2025)
- Healthcare
Payers
- Healthcare
Providers
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
Access
Press Release By Grand View Research: 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.
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