Healthcare Analytics Market Expected to Surpass USD 4,217 million by 2025 – ZMR News Blog

Healthcare Analytics Market Expected to Surpass USD 4,217 million by 2025

Zion Market Research has published a new report titled “Healthcare Analytics Market by Type (Cognitive, Predictive, and Prescriptive), by Component (Hardware, Software, and Services), by Deployment (Cloud-Based and On-Premises), by Application (Clinical Analytics, Financial Analytics, Operational Analytics, and Administrative Analytics), and by End-User (Payer, Provider, and Third-Party Administrators (TPA)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global healthcare analytics market was valued at approximately USD 1,628 million in 2018 and is expected to generate around USD 4,217 million by 2025, at a CAGR of around 14.56 % between 2019 and 2025.

Healthcare analytics is a branch of analysis that deals with the insights of hospital management, diagnoses, patient records, everyday costs, and much more. This field of healthcare analytics covers a broad stretch of the healthcare business, both on macro and micro levels. Healthcare analytics is bringing all the analyses under one broad consideration and interpretation. Healthcare analytics integrates electronic health records, patient monitoring systems, revenue cycle management, hospital management, core administration, patient engagement, strategic planning, and precision medicine under a single umbrella.

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Technological advancements in the field of analytics, cloud computing, and big data, rising adoption rate of analytics solutions in the field of clinical trials, healthcare sector’s rising adoption of analytics for patient engagement, administration, sales and marketing applications, the increasing need for improved data regularization, and growing investments from venture stakeholders are driving the global healthcare analytics market.

The global healthcare analytics market is fragmented into type, component, deployment, application, and end-user. Based on the type, the healthcare analytics market is classified into cognitive, predictive, and prescriptive. The cognitive segment is expected to register the highest CAGR over the forecast time period. On the basis of the component, the healthcare analytics market is classified into hardware, software, and services. The services segment is expected to develop significantly over the forecast time period. Based on deployment, the market is divided into cloud-based and on-premises. Based on application, the healthcare analytics market is divided into clinical analytics, financial analytics, operational analytics, and administrative analytics. Based on end-user, the healthcare analytics market is divided into payers, providers, and third-party administrators (TPA).

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By region, North America is anticipated to lead the healthcare analytics market over the predicted timeframe, due to the increasing demand for information technology in the field of healthcare, rising needs to manage large and diversified data, and revolutions ranging from value-based care to precision medicine to population health management. Europe is likely to be the second leading region over the prediction period in terms of revenue and number of end-users. Asia Pacific is expected witness the highest CAGR over the forecast time period in this market, due to the rising governmental investments made in the healthcare industry, developing analytics infrastructure, and increasing healthcare analytics infrastructural awareness across the region.

Some key players of the global healthcare analytics market include Cerner Corp., McKesson Corp., IBM Corporation, CareCloud Corporation, Allscripts Healthcare Solutions, Inc., Optum Inc., Hewlett Packard Enterprise Company, Oracle Corp., Medical Information Technology Inc., and QSI Management.

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This report segments the global healthcare analytics market as follows:

Global Healthcare Analytics Market: Type Analysis

  • Cognitive
  • Predictive
  • Prescriptive

Global Healthcare Analytics Market: Component Analysis

  • Hardware
  • Software
  • Services

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