Selbyville, DE -- (SBWIRE) -- 06/03/2019 -- Healthcare Analytics Market will exceed USD 18,250.8 million by 2025; as per a new research report.
Emergence of big data in healthcare will serve as a high impact rendering factor for the healthcare analytics market. Transition in healthcare from written scripts and paper charts to real-time monitoring and electronic health records has resulted in the accumulation of larger amounts of digital data.
Prescriptive analytics holds the highest growth potential with 15.8% CAGR across the forecast timeframe. High growth rate is due to its ability of providing medical professionals with means of using critical data and information for supporting clinical, financial and operational decisions and putting them on the path of attaining successful outcomes.
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Clinical management market is poised to reach USD 5,688.0 million by 2025. Application of healthcare analytics in clinical management has the highest ability to capture the market owing increasing need of healthcare organizations to improve their operational efficiencies. Increasing usage of healthcare analytics enables the implementation of preventive care reducing readmission rates.
Healthcare organizations are continuously striving to reduce expenses and increase operational efficiencies. For instance, analytics has obtained considerable success in curbing fraud which are a leading cause of surging healthcare costs in U.S. Usage of healthcare analytics tools can generate insights that significantly reduce preventable readmissions.
Increasing funding for healthcare analytics through venture capital funds will significantly propel market growth during the forecast period. Growing interest of investors in technologies that manage electronic health information and provide big data analytics tools will favor market expansion.
Hospitals business segment held largest market share of 70.4% in 2018. High growth rate is due to Recently, incorporation of IT in hospital settings has become a common practice. IT solutions such as EHR/EMR systems are seen in many hospitals worldwide. Particularly in the US, EHR/EMR systems are installed in more than 80% of the hospitals.
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U.S. healthcare analytics market accounted for largest share in 2018 and is forecasted to grow at a 12.5% CAGR over the projected period. The increasing healthcare expenditure has led to improvement in healthcare system which has accelerated the use of healthcare analytics devices in the country. Increasing investments in venture capital funds, technological advancements and demand for better quality healthcare is expected to drive market growth.
China healthcare analytics market is estimated to reach USD 281.4 million by 2025. There have been various initiatives taken by Chinese government to solve the issues faced by the usage of EHR. The growing use of EHR along with various government initiatives to modernize healthcare infrastructure of the country are driving factors for healthcare analytics market in China.
Few of the prominent market players involved in global healthcare analytics market are IBM, OptumHealth, McKesson Corporation, Allscripts Healthcare Solutions, Cerner Corporation, Athenahealth, Inovalon, Computer Programs and Systems, Change Healthcare, Tenet Healthcare Corporation, GE Healthcare, Evolent Health, Influence Health and Health Catalyst. The industry participants are engaged in acquisition and collaborations to enhance their market foothold and expand geographic reach.
Report Content
Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Healthcare analytics market industry 360 degree synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. End-use trends
2.1.5. Regional trends
Chapter 3. Healthcare Analytics Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Emergence of Big Data in healthcare
3.3.1.2. Emergence of personalized and evidence based medicine
3.3.1.3. Rising investments in venture capital funds
3.3.1.4. Growing need of increasing efficiency in healthcare sector by reducing unnecessary costs
3.3.1.5. Technological advancements
3.3.1.6. Emergence of social media and its impact on healthcare
3.3.2. Industry pitfalls & challenges
3.3.2.1. Lack of skilled IT professionals in healthcare
3.3.2.2. Data integrity and safety issues
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.4.3. By end-use
3.5. Investment landscape
3.5.1. U.S.
3.5.2. Europe
3.6. Technology landscape
3.6.1. North America
3.6.2. Europe
3.6.3. APAC
3.7. Regulatory and reimbursement scenario
3.7.1. U.S.
3.7.2. Europe
3.7.3. Japan
3.8. Porter's analysis
3.9. Competitive landscape, 2017
3.9.1. Strategy dashboard
3.10. PESTEL analysis
Chapter 4. Healthcare Analytics Market, By Product
4.1. Key segment trends
4.2. Descriptive Analytics
4.2.1. Market size, by region, 2014 - 2025 (USD Million)
4.3. Predictive Analytics
4.3.1. Market size, by region, 2014 - 2025 (USD Million)
4.4. Prescriptive Analytics
4.4.1. Market size, by region, 2014 - 2025 (USD Million)
Chapter 5. Healthcare Analytics Market, By Application
5.1. Key segment trends
5.2. Operations Management
5.2.1. Market size, by region, 2014 - 2025 (USD Million)
5.3. Financial Management
5.3.1. Market size, by region, 2014 - 2025 (USD Million)
5.4. Population Health Management
5.4.1. Market size, by region, 2014 - 2025 (USD Million)
5.5. Clinical Management
5.5.1. Market size, by region, 2014 - 2025 (USD Million)
Chapter 6. Healthcare Analytics Market, By End-use
6.1. Key segment trends
6.2. Hospital
6.2.1. Market size, by region, 2014 - 2025 (USD Million)
6.3. Clinics
6.3.1. Market size, by region, 2014 - 2025 (USD Million)
6.4. Others
6.4.1. Market size, by region, 2014 - 2025 (USD Million)
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