Healthcare or Medical Analytics Market reaching nearly USD 85.1 Billion By 2027

4.6
Healthcare or Medical Analytics Market reaching nearly USD 85.1 Billion By 2027

Healthcare or Medical Analytics Market reaching nearly USD 85.1 Billion at CAGR 23.4% through 2022 to 2027

Healthcare or Medical Analytics Market Overview:

According to a new report published by Maximize Market Research titled Healthcare or Medical Analytics Market by Intelligent Virtual Assistant, End User, Distribution Channel, Price, and Geography: Industry Analysis and Forecast (2021-2027).

Research assists decision makers in devising strategies and plans for their regions by analysing trends in the market, the industry environment, dominant characteristics of the market, and their short- and long-term ramifications.

The study investigates the effect of COVID-19 lock-down on the earnings of industry leaders, followers, and disruptors. Because lockdown was implemented differently in different locations and countries, the impact varies by region and segment. The research has covered the current short and long term market impact, which will assist decision makers in preparing the framework for short and long term strategies for enterprises by region.

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Healthcare or Medical Analytics Market Dynamics:

The primary market driver is the rapid adoption of electronic health records in both developing and developed countries. Such initiatives are assisting clinicians in digitally collecting patient records, as well as enabling connectivity and chronic illness monitoring. This, in turn, reduces re-hospitalization and length of stay, eliminates claims fraud, improves care health, and lowers medical costs.

The high cost of medical analytics solutions is a significant market restraint. Despite the proven benefits of analytics in healthcare systems, engagement among cost-conscious end customers is low due to the high installation and membership costs of sophisticated analytics systems. Only the best clinics have the expertise and resources to properly use big data to provide meaningful insights. Modern on-premise healthcare metrics can cost more than $250 thousand to deploy and around the same to licence on an annual basis. This makes it difficult for hospitals, at least in the short term, to justify their investments in analytics solutions while they are focused on integrating electronic health records.

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Healthcare or Medical Analytics Market Segmentation:

The predictive analytics segment is expected to grow at the fastest rate of 8.2 percent during the forecast period. As a result of the deployment of machine learning, predictive analytics in medicine has become a critical component of improving care and optimising outcomes. Clinicians have used technology to aid in clinical decision-making and to effectively analyse large amounts of data using predictive analytics. Predictive analytics integration into the medical system has benefited both doctors and patients.

Predictive analytics has proven to be an extremely useful tool in clinical decision-making. Consumers react differently to different types of treatment, especially those for chronic conditions. Researchers at the University of Michigan Rogel Cancer Center are working on a blood test that will predict whether a specific treatment technique for HPV-positive esophageal cancer is effective months before standard radiology scans. Currently, the only way doctors can tell if a treatment is working is to have patients undergo imaging scans every few months to see if their tumours are shrinking. And this isn't entirely correct because some cancers exhibit what doctors call pseudo progression, which occurs when a good therapy causes tumours to grow larger before shrinking them. Their goal was to develop a test that would tell them if therapy was likely to work after only one round.

Healthcare or Medical Analytics Market Key Players:

IBM

Optum

Cerner

SAS Institute

Allscripts

McKesson

MedeAnalytics

Inovalon

Oracle

Health Catalyst

SCIO Health Analytics

Cotiviti

CitiusTech

Wipro

VitreosHealth

COVID-19 Impact Analysis on Healthcare or Medical Analytics Market:

The report investigates consumer and demand movements, purchasing behaviour, supply chain transformations, and current market power dynamics. This updated report discusses the impact of COVID-19 on the Smart Textile market, as well as insights, analyses, estimates, and predictions. In this report, we look at how the COVID-19 lockout has affected market leaders, followers, and disruptors. The impact varies by location and region depending on how the lockdown was implemented.

Healthcare or Medical Analytics Market, Key Highlights:

The report provides analysis and projection of the Healthcare or Medical Analytics market in terms of value.

Market drivers, constraints, and opportunities driving the growth of the Healthcare or Medical Analytics Market are all examined in depth.

The Healthcare or Medical Analytics Market has been segmented based on Intelligent Virtual Assistant, End User, Distribution Channel, Price, and geography (country-wise).

This report analyses the Healthcare or Medical Analytics Market with respect to individual growth trends, future prospects, as well as the contribution of various submarket stakeholders.

Analysis and forecasts for the Healthcare or Medical Analytics market for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-level segmentation.

A profile of key industry participants and an analysis of core competencies are included, in addition to strategic perspectives, market positioning, and analyses of core competencies.

The top companies active in the Healthcare or Medical Analytics Market are profiled in terms of their competitive advancements, investments, strategic growth, and competitive landscape.

About Maximize Market Research:

Maximize Market Research, an industry research firm with a dedicated team of specialists and data, has conducted comprehensive research on the Healthcare or Medical Analytics market. Maximize Market Research provides B2B and B2C research on 6,500 high-growth, emerging technologies for the chemical, healthcare, pharmaceutical, electronics, Internet of Things, food and beverage, aerospace, and defence industries. Maximize Market Research analyses the competitive landscape of sectors in addition to evaluating and estimating market size.

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