Healthcare Analytics Market - Global Forecast to 2027

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Healthcare Analytics Market - Global Forecast to 2027


 Category : Health Care

 Published: Oct-2021
 Author: SPER Analyst
Healthcare Analytics Market is projected to be worth around USD 85.8 Million by 2027

The global healthcare analytics market is expected to grow at a CAGR of ~26% from 2020 to reach USD 85.8 billion by 2027. The growth is primarily attributed to increasing investments, government initiatives, increasing EHR adoption, emphasis on reducing healthcare expenditure, and evolution of big data in healthcare. However, lack of skilled personnel and high cost of analytics can pose a significant challenge. 

Browse report overview on "Global Healthcare Analytics Market" at: https://www.sperresearch.com/report-store/Healthcare-Analytics.aspx

The global healthcare analytics market study provides market data for-by type (descriptive analysis, predictive analysis, prescriptive analysis, cognitive analysis), by component (services, hardware, software), by application (financial analysis, operational & administrative analysis, clinical analysis, population health analysis), by delivery model (on-premise model, on-demand model), by end user (payers, providers, life science companies). The study also evaluates industry competitors and analyses the market at a regional and country level.

Descriptive analytics segment dominated the healthcare analytics market in 2020. The largest share of this segment is mainly due to rising demand, effective use of descriptive analytics in predictive/prescriptive analytics and application of descriptive analysis to convert raw data and trend into interpretable data insights & estimate future market.

By component, services segment accounted for largest share of healthcare analytics market in 2020. The large share of this segment can be attributed to outsourcing analytics services from leading analytical solutions companies to healthcare and life science companies and advancements in healthcare infrastructure.

By application, financial analytics segment accounted for the largest share of healthcare analytics market in 2020. The large share is mainly attributed to utilization of these solutions by financial and government organizations, emphasis on cost-reduction incurred by healthcare facilities and rising adoption of these services for the prevention of fraud. 

On-premise solutions dominated the healthcare analytics market by deployment model. The large share of this segment can be ascribed by ease of access from remote locations, minimum maintenance costs and convenient customizations. 

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By end user, life science companies accounted for the largest market share of healthcare analytics market in 2020. The large share of this segment can be attributed to rising adoption of analytical solutions by life science companies, rising R&D functionalities, rising need to reduce costs, increasing clinical trial efficiency and emphasis on delivering personalized care experiences. 

The major players operating in the global healthcare analytics market are 
  • Allscripts (US)
  • Cerner (US)
  • Citius Tech (US)
  • Cotiviti (Verscend Technologies)
  • Health Catalyst (US)
  • IBM (US)
  • Innovalon (US)
  • McKesson (US)
  • MedeAnalytics (US)
  • Optum (US)
  • Oracle (US)
  • SAS Institute (US)
  • SCIO Health Analytics (US)
  • Viteros Health (US)
  • And Wipro (India)

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SPER-Heineken
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