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Healthcare Analytics Market Worth 24.55 Billion USD by 2021

Thursday, November 3, 2016 Research News J E 4
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PUNE, India, November 3, 2016 /PRNewswire/ --

According to a new market research report "Healthcare Analytics/ Medical Analytics Market by Application (Clinical, RCM, Claim, Fraud, Supply Chain, HR, PHM), Type (Prescriptive), Component (Service, Software), Delivery (On-premise, Cloud), End User (Hospital, Payer, ACO, TPA) - Forecasts to 2021", published by MarketsandMarkets, the global market is expected to reach USD 24.55 Billion by 2021 from USD 7.39 Billion in 2016, at a CAGR of 27.1% during the forecast period.

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Browse 323 market data Tables and 55 Figures spread through 318 Pages and in-depth TOC on "Healthcare Analytics/ Medical Analytics Market"

http://www.marketsandmarkets.com/Market-Reports/healthcare-data-analytics-market-905.html

Early buyers will receive 10% customization on this report. 

The growth of this market is mainly driven by factors such as increasing government initiatives to enhance EHR adoption, rising pressure to curb healthcare spending and need for improved patient outcomes, availability of big data in healthcare, rise in venture capital investments, and technological advancements. Moreover, use of analytics in precision and personalized medicine, increasing focus on value-based medicine and cloud-based analytics, increasing number of patient registries, and emergence of social media and its impact on the healthcare industry provide significant growth opportunities in the market. However, lack of skilled professionals, high cost of analytics solutions, and operational gaps between payers and providers may hinder the growth of this market during the forecast period.

The report segments the Healthcare Analytics Market based on type, application, component, delivery model, end user, and region. Based on type, the Healthcare Analytics Market is segmented into descriptive, predictive and prescriptive analytics. The descriptive analytics segment is expected to account for the largest share of the Healthcare Analytics Market in 2016. The significant usage of descriptive analytics by healthcare providers to gain a better understanding of the past trends and event occurring in real-time, is expected to drive the growth of the descriptive analytics market during the forecast period. Based on delivery model, the Healthcare Analytics Market is segmented into on-demand and on-premise models. The on-demand model segment is expected to grow at the highest CAGR during the forecast period due to its advantages such as growing demand for self-driven analytics, lack of upfront capital investments for hardware, extreme capacity flexibility, and the pay-as-you-go pricing of this model.

Based on region, the Healthcare Analytics Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, North America is expected to dominate the market, followed by Europe. North America is poised to be the fastest-growing region during the forecast period. Factors such as growing federal healthcare mandates to curb rising healthcare costs and provide quality care; increasing regulatory requirements; growing EHRs adoption; and rising government initiatives to focus on personalized medicine, population health management, and value-based reimbursements will drive market growth in North America.

Download The Free PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=905

The Healthcare Analytics Market is a highly fragmented market, with several big and emerging players. Key market players include IBM Corporation (U.S.), Optum, Inc. (U.S.), Cerner Corporation (U.S.), SAS Institute, Inc. (U.S.), Allscripts Health Solutions (U.S.), McKesson Corporation (U.S.), MedeAnalytics, Inc. (U.S.), Inovalon (U.S.), Oracle Corporation (U.S.), Verisk Analytics (U.S.), and Health Catalyst (U.S.).

Browse Related Reports: 

Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, mHealth, Telehealth, Healthcare analytics, Supply Chain Management, Revenue Cycle Management, CRM, Claims Management, Fraud Management) by End User (Provider, Payer ) - Global Forecast to 2020.

http://www.marketsandmarkets.com/Market-Reports/healthcare-it-252.html

Healthcare Business Intelligence (BI) Market by Function (Reporting, OLAP, Monitoring), Application (Clinical & Financial), Technology (Traditional, Cloud, Mobile), End User (Hospitals, Clinics, ACO, HIE, Payers) - Trends & Global Forecasts to 2018.

http://www.marketsandmarkets.com/Market-Reports/healthcare-business-intelligence-market-252368925.html

About MarketsandMarkets: 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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SOURCE MarketsandMarkets

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