Healthcare Analytics Market Forecast By Global Size, Share Analysis And Industry
Healthcare Analytics Market Forecast By Global Size, Share Analysis And Industry Trends Outlook By 2026
Healthcare Analytics Market | Size, Share Estimation, Growth Projection, Emerging Trends And Global Industry Analysis 2020 is latest depth analysis market research report On “Global Healthcare Analytics Market” published By Fortune Business Insights. Report analyzes comprehensive information on Healthcare Analytics Market Segments By Product (Descriptive, Predictive, and Prescriptive), By Application (Financial Analytics, Population Health Analytics, Clinical Analytics, and Operations and Administrative Analytics), By End User (Payers, Providers, and Others) and Regional Forecast, 2019-2026.
Healthcare Analytics Market 2020 report presents a comprehensive assessment of the global Healthcare Analytics market by offering valuable insights, Healthcare Analytics types, facts, industry-related information, and historical data.
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Healthcare Analytics Key Companies Analyzed In Report are:
Cerner Corporation, IBM Corporation (IBM Watson), Flatiron Health, Linguamatics, Allscripts Healthcare, LLC, Epic Systems Corporation, Health Catalyst, Inovalon.
Global Healthcare Analytics Market Analysis:
The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
As per a new report by Fortune Business Insights™, titled, “Healthcare Analytics Market Size, Share and Industry Analysis, By Product (Descriptive, Predictive, and Prescriptive), By Application (Financial Analytics, Population Health Analytics, Clinical Analytics, and Operations and Administrative Analytics), By End User (Payers, Providers, and Others) and Regional Forecast, 2019-2026,” the healthcare analytics market size was USD 11.59 billion in 2018 and is projected to reach USD 80.21 billion by 2026, exhibiting a CAGR of 27.5% during the forecast period.
There has been a tremendous change in the way data is gathered and analyzed owing to the emergence of big data. It consists of vast amounts of data collected by digitizing several sources. It is then blended and analyzed by advanced technologies. Big data makes use of individual- or population-specific health information. It is capable of theoretically reducing costs, treating complex disorders, and eliminating the risks of epidemics. In addition to that, the governments of many countries are investing huge sums in the development of the healthcare sector. These factors are anticipated to drive the healthcare analytics market growth during the forthcoming period.
However, this sector is currently facing a challenge of collecting data from various sources in real-time. One of the reports by Protenus Breach Barometer mentions that more than 25 million patient records were breached in 2019, as compared to 2018. It proves that the rising cases of confidential data breaches in the industry are set to decline the demand for healthcare analytics.
Based on product, the market is divided into prescriptive analytics, predictive analytics, and descriptive. Out of these, the descriptive segment generated 47.4% healthcare analytics market share in 2018 and is likely to dominate throughout the forecast period. This growth is attributable to their ability to analyze past data and provide actionable insights for the near future. It is considered to be the most widely accepted forms of healthcare analytics.
The report encompasses several factors that have contributed to the growth of the overall market in recent years. It highlights primary strategies adopted by major companies and discusses how these companies are coping with the challenges they face in the global market. The report also highlights the major companies that have stood out in recent years and gauges their impact on market growth. In this report Several methodologies and approaches are adopted to make meaningful assumptions and views. The company profiling of leading market players is included this report with Porter's five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report.
The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Healthcare Analytics manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
Healthcare Analytics Market Regional Insights:
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
In 2018, North America procured USD 53.44 billion in terms of revenue. The region is set to lead the market backed by the increasing venture capital funding, presence of well-established healthcare infrastructure, adoption of electronic health records by several healthcare organizations, and recognition of unique technologies. Asia Pacific, on the other hand, is anticipated to showcase considerable growth in the coming years owing to the increasing investment by prominent companies, rising awareness about healthcare analytics, surging spending capabilities of providers and payers, as well as rapid acceptance of advanced solutions.
Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
An Overview of the Impact of COVID-19 on Healthcare Analytics Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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