Big Data Revolutionizes Healthcare Analytics: Industry Players - Cerner Corporation, McKesson, Allscripts, Optum, & IBM

Aug 12, 2016, 09:30 ET from Mordor Intelligence

HYDERABAD, India, August 12, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on the healthcare analytics market. The report titled, "Global Healthcare Analytics Market- By Technology, Application, Component, Deployment, End User and Geography -Market Shares, Forecasts, and Trends (2016-2021)" discusses the current landscape and outlook of the market.

The Global Healthcare Analytics Market is estimated to be valued at USD 9.96 billion in 2016 and is projected to reach USD 31.75 billion by 2021, at a CAGR of 26.1% during the forecast period from 2016 to 2021.

Hospitals in Australia, Canada, Denmark, France, New Zealand, Spain, the United Kingdom and the United States have reported high levels of preventable errors. Errors rate ranged from 2.9 to 45.8 percent for hospitalized patients, of which 7.6 to 51.2 percent were preventable.

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The global healthcare analytics market can be segmented based on technology/platform (Predictive Analytics, Prescriptive Analytics, and Descriptive Analytics), Application (Clinical Data Analytics, Financial Data Analytics, Administrative Data Analytics, and Research Data Analytics), Component (Software, Hardware, and Services), Deployment (On-premise Model and Cloud-based Model), End-User (Healthcare, Pharmaceuticals, Biotechnology, Academia, Research, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).

North America is expected to command the highest market revenue and is also witnessing the highest growth rate with a CAGR of 26.0%, followed by Europe and Asia-Pacific. Although the descriptive analytics segment accounts for the largest market share of 62.0% in the global healthcare technology, its market share is expected to decrease by 2021. The predictive analytics segment is expected to witness the highest CAGR globally during the forecast period.

The leading companies in healthcare analytics are Cerner Corporation, McKesson, IBM, Optum, Allscripts, Oracle, 3M and others.

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