The demand for Global Healthcare Analytics market is to grow around 27.13% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the global healthcare analytics market is growing at a CAGR of 27.13% throughout the forecasting years of 2019-2027.”
“Browse 49 market Data Tables and 19 Figures spread over 170 Pages, along with an in-depth TOC on global healthcare analytics market forecast 2019-2027.”
Healthcare analytics focuses on offering data insights into hospital management, patient records, costs, diagnosis and more. Healthcare analytics is a crucial phase in the global healthcare market. Healthcare analytics is a key factor of growth in the health care IT market. Healthcare IT has become an integral part of the healthcare system. The industry has shifted from a provider-driven market to a consumer-driven one in recent years. The pressure to reduce costs and provide high-end medical services at affordable prices has been mounting high in this industry. Healthcare providers are the major end-users of the healthcare analytics market.
Growing healthcare expenditure is a significant driver for the demand of healthcare analytics
There has been significant growth in healthcare expenditure across the world. Healthcare providers have been showing interest in remote healthcare management, telemedicine, precision medicine and quality services for the customers. This will create opportunities for healthcare analytics market, which is backed up by the high expenditure from the healthcare providers and the customers’ end. Apart from end-users expenditure, the governments of many countries have been taking initiatives and allotting high annual budgets for the healthcare expenditure for their respective countries which will have a positive impact on the global healthcare analytics market during the forecasting years.
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Services are the primary product offered by the healthcare analytics market
Services, software, and hardware are the three main products offered in the healthcare analytics market. Services make up the largest product segment in the healthcare analytics market. Most common services include consulting, implementation services and IT support, training & education, post-sale, and maintenance. These services are majorly utilized by hospitals, government agencies, biotechnology, pharmaceutical industries and medical device companies.
North America is the largest regional market revenue contributor to the global market
The North America region was the highest contributor by revenue to the global healthcare analytics market in 2018. North America has been divided into two main regions, namely, the U.S. and Canada. The U.S. holds the largest share in this region. Growth of the aging population, federal healthcare mandates, speedy returns on investments and digitalization in the healthcare industry are the factors that are boosting demand for healthcare analytics in North America.
The healthcare analytics market is growing at a rapid pace. The top players operating in the global market are SAS Institute Inc., Medeanalytics, Oracle Corporation, Health Catalyst, Cerner Corp., Mckesson Corp., Verisk Analytics, Mckesson Corp. Optum Inc. (part of Unitedhealth Group Inc.), IBM Corp., Elsevier B.V., Allscripts Healthcare Solutions Inc. These major players are focusing on various strategies for the respective company’ development through mergers, acquisitions, partnerships, joint ventures, collaborations and business expansions. These companies have to follow and abide by the legal, policy and regulatory frameworks. The industry is highly competitive and driven by new high-end technology.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.