The global healthcare analytics
(HA) market is expected to reach USD 42.8 billion by 2024, according to a new
report by Grand View Research, Inc. Efforts to reduce the spiraling healthcare
costs is facilitating the usage of the healthcare analytics. Additionally, the
benefits of HA include the improvement of patient access to customized care,
the furthering of transparent operations to enable better public oversight, and
innovation in patient care delivery and services.
Furthermore, analytics play a
major part in striving to ameliorate the health economic efficiency. For
instance, l’Assurance Maladie in France employed analytics to assess the
clinical safety of the class of cholesterol-lowering drugs, statins, which have
been implicated in causing severe side-effects, and the derived results were
used to introduce evidence-based performance measures to address the cracks in
the operational system.
In depth research report on Healthcare Analytics Market
Further key findings from the study suggest:
·
Descriptive analytics held a
significant share in 2015 owing to its applications in process optimization in
organizations. On the other hand, predictive analytics is anticipated to grow at
a lucrative rate over the forecast period mainly due to its wide applicability
in medical systems, such as fraud prevention, disease prevalence forecasts, and
risk assessment.
·
The services category dominated
the component segment in 2015. Outsourcing of these big data services
contributed towards their growth in leading to the high volume of services
rendered. Moreover, the outsourcing of services helps in cutting costs
associated with infrastructure requirements and in addition, avoids the
requirement of skilled individuals to perform the same task.
·
The hardware systems category
dominated the component segment, high-cost of the hardware, such as the use of
computer systems and internet servers contributed to its growth.
·
On-premise delivered analytic
services dominated the delivery mode category with around 54.0% share in 2015.
However, the cloud-based delivery mode segment is anticipated to grow at a
profitable rate over the forecast period. The benefits of the cloud system,
which include remote data entry and real-time data entry features are expected
to result in the growth of this segment.
·
The applications of the
healthcare big data include financial applications, operational &
administrative applications, and clinical applications. Operational and
administrative applications governed the applications segment and held a
remunerative share in the year, 2015.
·
The demand for financial
applications is anticipated to boost over the forecast period. These
applications include payment and claim settlements and fraud prevention and
risk analysis. Various initiatives undertaken by the government, such as the
Fraud Prevention System (FPS) from the CMS is promoting its adoption.
·
The end-users of HA include
payers, providers, and others. Payers held a significant market share in 2015
and the providers are anticipated to grow at a lucrative rate. The usage of
these services by providers is for population health management, quality
improvement, and personalized care.
·
North America captured a
significant share in the global market. Advanced healthcare infrastructure in
this region and the growing per capita healthcare expenditure supported the
greater consumption of these services.
·
The Asia Pacific region is
expected to witness gainful growth attributable to the untapped opportunities
in the countries including India and China.
·
Some key players operating in
the healthcare analytics market include IBM Corporation, Oracle Corporation,
SAS, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Optum Health,
Inc., and Verisk Analytics, Inc. The notable initiatives in the industry
include new product launches, collaboration with government bodies, and
investments directed towards R&D efforts.
·
For instance, in December 2015
Truven Health Analytics, Inc. and Philips Electronics N.V. integrated Truven
Health Micromedex Solutions in the management platform, the Tasy System. This
integrated platform is anticipated to facilitate fast and easy access to a
wealth of evidence-based medical information present in the drug interaction
repositories of Micromedex Solutions.
Grand View Research has
segmented the global healthcare analytics market on the basis of products,
end-use, and region:
Global Healthcare Analytics Market by Type, 2013 - 2024
(USD Million)
·
Descriptive Analytics
·
Predictive Analytics
·
Prescriptive Analytics
Global Healthcare Analytics Market by Component, 2013 -
2024 (USD Million)
·
Software
·
Hardware
·
Services
Global Healthcare Analytics Market, by Delivery Mode, 2013
- 2024 (USD Million)
·
On-premise
·
Web-based
·
Cloud-based
Global Healthcare Analytics Market, by Application, 2013 -
2024 (USD Million)
·
Clinical
·
Financial
·
Operational and Administrative
Global Healthcare Analytics Market, by End-use, 2013 - 2024
(USD Million)
·
Healthcare Payers
·
Healthcare Providers
·
Others
Healthcare Analytics Devices Market, By Region, 2013 -
2024 (USD Million)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Spain
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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