Global healthcare analytics market is expected to reach USD 33.8 billion by 2023 from USD 10.8 billion in 2018, at a CAGR of 25.5% during the forecast period (2018-2023).
The basic objective of healthcare analytics is to assist healthcare expert make and execute rational decision which is data driven, transparent, demonstrable, and robust. The need of advanced analytics is increasing with mounting demand for higher level of transparency by patients in their care decisions, and organizations looking for more ways to control costs while improving quality of care delivered.
Growing investments by venture capitalists, continued pressure to curtail rising healthcare costs, growing demand to improve care quality, implementation of the Affordable Care Act in the U.S., trend towards value-based care, growing digitization in emerging countries, improving HCIT infrastructure and adoption of HCIT solutions such as EMRs and HIE, increasing focus on personalized medicine, advancing IT & big data capabilities, government support for coordinated care, and proliferating accountable care organizations (ACO) are resulting in robust demand for healthcare analytics across the globe. However, lack of data scientists/analytics skills, high price of analytics, and data integration and security issues may hinder the growth of the global healthcare analytics market to some extent.
In addition, the report further gives an extensive outlook on various segments involved in healthcare analytics market. These segments include healthcare analytics market by type, component, mode of delivery, application, end user, and geography.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Insights 4.1. Introduction 4.2. Drivers 4.2.1. Growing Health IT and EHR Adoption 4.2.2. Growing Venture Capital Investments 4.2.3. Increasing Pressure to Provide Quality Care & Control Healthcare Costs 4.2.4. Rising Big Data in Healthcare 4.2.5. Technological Advancements 4.3. Restraints 4.3.1. Lack of Data Scientists/Analytics Skills 4.3.2. High Price of Analytics Solutions 4.4. Opportunities 4.4.1. Growing Application of Analytics in Precision Medicine 4.4.2. Increasing Focus on PHM & Value-Based Care 4.4.3. Cloud-Based Analytics 4.5. Challenges 4.5.1. Data Security and Privacy Issues 4.5.2. Reluctance to Migrate from Conventional Systems 4.5.3. Data Integration 4.6. Key Player Analysis
5. Healthcare Analytics Market, by Type 5.1. Introduction 5.2. Descriptive Analytics 5.3. Predictive Analytics 5.4. Prescriptive Analytics
6. Healthcare Analytics Market, by Component 6.1. Introduction 6.2. Services 6.2.1. Support Services 6.2.2. Business Analytics Services 6.3. Software 6.4. Hardware
7. Healthcare Analytics Market, by Mode of Delivery 7.1. Introduction 7.2. On-Premise Analytics 7.3. Web Analytics 7.4. Cloud Analytics