What is the Healthcare Analytics Market Growth?

 Healthcare Analytics Industry Overview

The global healthcare analytics market is currently valued at USD 29.1 billion as of 2021 and is expected to expand at a CAGR of 21.5% for the forecast period 2022-2030.

The healthcare industry on the whole has been challenged with the issues like lack of better patient care, skyrocketing costs of treatment, less patient retention, and engagement and, thus healthcare analytics are being incorporated into every aspect of the industry to give better care to patients and for better operations of the industry. These factors are key reasons for the growth of the healthcare analytics industry. 

The rapid rate of technological advancements and massive investments by the healthcare industry into the IT development and digitization have been key factors for the monumental growth of the healthcare analytics industry. The analytical platforms which are currently being deployed by healthcare institutions across the globe, help in patient management, their retention, due to which better care can be delivered. Deployment of healthcare analytical platforms not only increases the productivity of the staff, but the overall patient management has been improved and the burden on caregivers has been minimized. 

Gather more insights about the market drivers, restrains and growth of the Global Healthcare Analytics Market

 

Healthcare analytics can be deployed for various functions in an establishment, for management of grants and donations given to the hospital, patient records, making appointments, for insurance claims, etc. It can not only improve the quality of care delivered to patients but also give insights for managing overall business establishments, better patient outreach, management of spread of diseases etc. The Grainger College of Engineering, Illinois, developed the Health Data Analytics Initiative as a hub connecting clinical investigators, engineers, AI experts, and data scientists which help in delivering better solutions by improving the quality of research by deploying AI platforms and analytical tools. 

Government initiatives and massive flux of money in the healthcare industry are also driving innovation and are responsible for increase in adoption of such analytical platforms by healthcare establishments. Analytical platforms are not only being used by hospitals but other establishments for managing and interpreting clinical data from various studies being conducted; studying historical data and analyzing it to establish trends, developing methods, tools and technologies to get optimal results. These analytics platforms are also being deployed by policy makers for studying statistics and models for making better decisions and policies regarding healthcare establishments and for delivering care to patients. U.S. government has been taking initiatives in this direction like HealthData.gov portal has information from several federal databases on topics such as community health performance, clinical data, medical and scientific knowledge for developers which is accessible by application programming interface. 

Browse through Grand View Research's Healthcare IT Industry Research Reports

  • Electronic Clinical Outcome Assessment Solutions Market: The global electronic clinical outcome assessment solutions market size was valued at USD 1.36 billion in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 15.2% from 2023 to 2030.
  • Surgical Planning Software Market: The global surgical planning software market was valued at USD 102.1 million in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030.

 

Key Companies Profile

Some of the prominent players in the global healthcare analytics players include

  • McKesson Corporation
  • Optum, Inc.
  • IBM
  • Oracle
  • SAS Institute, Inc.
  • IQVIA
  • Verisk Analytics, Inc.
  • Elsevier
  • Medeanalytics, Inc.
  • Truven Health Analytics, Inc.
  • Allscripts Healthcare Solutions, Inc.
  • Cerner Corporation 

 

Order a free sample PDF of Healthcare Analytics Market Intelligence Study, published by Grand View Research.

 

 

 

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