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 : May, 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. 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?