Healthcare Analytics Market Size & Share to See Modest Growth Through 2024

Zion Market Research, the market research group announced the analysis report titled “Healthcare Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024″

Advancements in information technology have led ease in the ability to collect various forms of healthcare data. Constantly rising healthcare costs appeals to develop a personalized and patient-centered approach. Healthcare analytics is a strategy for data collection from various sources and further analysis of this data gives certain patterns & trends for improvised healthcare interventions. Analytical revolution in healthcare will improve the efficiency, accuracy and service delivery of the healthcare systems with improved clinical outcomes and patient care.

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The growth of global healthcare analytics market has been attributed to the incorporation of big data analytics in the medical field. In addition, technological advancements coupled with government initiative toward highly developed healthcare infrastructure is expected to be high impact rendering factors for healthcare analytics market growth over the forecast period. However, data breach or security issues and issues with confidentiality of the information are expected to pose a challenge to the market growth. Nonetheless, cloud-based healthcare analytics is expected to offer significant growth opportunities for healthcare analytics market in the coming years.

The report covers forecast and analysis for the healthcare analytics market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD Million). To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the healthcare analytics market has also been included in the study. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides detailed segmentation of healthcare analytics market based on type, delivery mode, applications and end users. The type segment includes descriptive analysis, predictive analysis, and prescriptive analysis. On-premise, web, and cloud are some of the key delivery modes. Different application segments include clinical, operational and administrative and financial segments. On the basis of the end user, the market is categorized under healthcare payers, healthcare providers, and others.

Major regional segments analyzed in this study include North America, Europe, Asia-Pacific, Latin America and the Middle East. The healthcare analytics market was dominated by North America & held over 55% of the market share in 2015. High per capita healthcare cost and increasing incidences of payment frauds are the contributing factors for market growth.  However, Asia-Pacific market is projected to record the fastest growth due to government initiatives towards to healthcare infrastructure improvement.

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Key players profiled in the report include McKesson Corporation, Mede Analytics, Inc., IBM Corporation, Cognizant, Truven Health Analytics, Oracle Corporation,  Cerner Corporation, Verisk Analytics, Inc, OptumHealth Inc., Allscripts Healthcare Solutions, Inc., and others.

The report segments of global healthcare analytics market as follows:

Healthcare Analytics Market: Type Segment Analysis

  • Descriptive analysis
  • Predictive analysis
  • Prescriptive analysis

Healthcare Analytics Market: Delivery Mode Segment Analysis

  • On-premise
  • Web-based
  • Cloud-based

Healthcare Analytics Market: Application Segment Analysis

  • Clinical
  • Operational and administrative
  • Financial

Healthcare Analytics Market: End User Segment Analysis

  • Healthcare payers
  • Healthcare providers
  • Others

Healthcare Analytics Market: Regional Segment Analysis

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

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