Published on: September 30, 2021
Healthcare analytics market size will increase at a steady pace. The increasing demand for interconnected medical devices and the popularity of software as a medical device (SaMD) will be key factors influencing market growth during the forecast period. IBM, Optum, Cerner, SAS Institute, and Allscripts are some of the key vendors in this marketspace.
This report provides a comprehensive analysis of the market by type (descriptive, prescriptive, and cognitive) and geography.
Top Market Trend - Software as a Medical Device (SaMD)
Key Growth Driver - Increasing demand for interconnected medical devices
Major Market Challenge - Shortage of skilled workforce
Parent Market - Healthcare technology
Parent Market Size - Healthcare technology industry was valued at $226.4 billion in 2020
Prominent Vendors - IBM, Optum, Cerner, SAS Institute, and Allscripts
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The healthcare analytics market is catalogued under the health care technology industry which will grow at a moderate pace during the forecast period.
Internet of healthcare things or IoHT refers to the interoperability of connected healthcare devices that generate localized, real-time information about assets and patients and enable remote monitoring. It improves healthcare while saving on time and ensuring patient safety. With IoHT, the management of medical facilities has also become synchronous. Therefore, IoHT helps to bring healthcare providers, patient information, medical equipment, and healthcare-related mobile applications together to ensure quality and safety for patients, thus leading to better care.
Moreover, AI is also influencing healthcare in several ways, and several changes are not in the traditional realm of things. Several start-ups and companies focused on niche areas are creating disruption in the market. AI algorithms lead to better and faster data analysis, and coupled with predictive analytics, lead to rapid identification of symptoms and diseases, and thereby, solutions. Pharmaceutical companies are also using AI to identify potential molecules, which will lead to successful drug launches.
The global market for healthcare analytics has been segmented by type and geography. Based on type, the market has been further segmented into descriptive, prescriptive, and cognitive.
Based on Geography
By geography, the report analyzes the market by key regions North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA).
Regional-specific analysis also provide insights of the upcoming demand for healthcare analytics across key countries in these regions.
Software as a medical device (SaMD) and the increasing demand for interconnected medical devices are the key trends that will influence market growth.
The shortage of skilled workforce will be one of the key factors that challenge market growth.
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Some of the key healthcare analytics market vendors covered in this report include:
IBM
Optum
Cerner
SAS Institute
Allscripts
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Accurate prediction on healthcare analytics market CAGR, market size, and growth potential.
Insights on the market’s growth & opportunities in the global and regional levels.
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Detailed analysis of market challenges and risks.
Comprehensive data that covers region-, segment-, and company-specific information.
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Scope of the Report |
|
|
Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Parent Market |
Health Care Technology |
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Parent Market Size |
$226.4 billion |
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By Type |
Descriptive | Prescriptive | Cognitive |
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Regional analysis |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA) |
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Companies profiled |
IBM, Optum, Cerner, SAS Institute, and Allscripts |
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Top Market Trend |
Increasing demand for interconnected medical devices | Software as a Medical Device (SaMD) |
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Report Benefits |
Market trends analysis, Competitor market share and strategies, Company profiling and competitive benchmarking, Growth opportunities in global and regional levels, Business implications of market risks and challenges |
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