Healthcare Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2029

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Healthcare Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2029

Status : November, 2021 | Healthcare IT

Report Digest

Global Healthcare Analytics Market: Overview  

The commercialization of the healthcare industry has caused an uptick in the demand for healthcare analytics. Although the domain of healthcare analytics can facilitate better patient and care management as well, it is primarily being used by hospitals to ensure operational and functional growth. The healthcare industry has unlocked several growth opportunities for various data-centric service providers, creating a sustainable pathway for revenue inflow across key industries. In addition to this, the ease of data collection across various healthcare verticals has also helped in driving demand within the global healthcare analytics market. Over the course of the past decade, several countries have developed dedicated healthcare transformation programs and strategies. These strategies are aimed at creating a congenial healthcare industry, characterised by cost-efficiency, patient care, and remote care delivery. Therefore, the global healthcare analytics market has a formidable growth opportunity at hand in the current scenario.

In this review by TMR Research (TMR), the global healthcare analytics market has been reviewed, analysed, and assessed in the context of the existing healthcare trends. The growth of the global healthcare analytics market is a function of digital transformation initiatives taken across the global healthcare sector. Furthermore, the use of new models of care delivery across the medical and healthcare industries has also enabled the inflow of fresh revenues into the healthcare analytics market. The development of a data-centric healthcare domain is slated to benefits multiple entities including stakeholders, government bodies, and healthcare decision makers. Therefore, healthcare analytics is gaining the support of various heads within the industry.

Global Healthcare Analytics Market: Notable Developments

  • In a staggering industrial move, Centene Corporation has acquired Apixio, the renowned healthcare analytics platform. This move has come at a time when healthcare analytics and machine learning are fast getting integrated into the healthcare sector. Centene, with its strategic acquisition, aims to ramp up its portfolio of offerings by adding fresh capabilities in data analysis and artificial intelligence. This move is expected to cause formidable disruptions and entropy across the global healthcare analytics market.
  • Several other market entities have also endorsed and embraced the use of analytics and AI in developing a robust healthcare services portfolio. The relevance of advanced analytics in patient diagnosis, medical research, clinical trials, and patient management has created fresh opportunities for the vendors operating in the healthcare analytics market. The growing propensity of the healthcare industry towards becoming a patient-centric sector has also driven market demand. The leading vendors in the healthcare analytics market are projected to invest in advanced data analytics and computing in order to reap benefits existing industry trends.

Key Players

  • OptumHealth, Inc.
  • IBM Corp.
  • Oracle Corp.
  • MEDai, Inc.
  • Verisk Analytics, Inc.
  • MedeAnalytics, Inc.

Global Healthcare Analytics Market: Growth Drivers

  • Importance of Advanced Care Delivery

The emergence of new models of care delivery such as remote patient monitoring (RPM) and telemedicine has created new avenues for growth across the global healthcare analytics market. As countries look to unify their healthcare records, it is extremely important for the healthcare sector to leverage healthcare analytics for storing, processing, and analysing medical data.

  • Leveraging Healthcare Data for Improved Patient Outcomes

The importance of healthcare data in the field of diagnosis, treatment, and prescription is creating sound opportunities for market growth. Besides, e-health models that prioritize patient safety and wellbeing have also garnered the attention of the masses in recent times. The aforementioned factors are contributing to accelerated expansion of the global healthcare analytics market. 

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?