Healthcare Analytics Market by Type, Component, Delivery Mode, Application, End user and Geography – Global Forecast to 2027 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)-- The "Healthcare Analytics Market by Type (Predictive, Prescriptive), Component (Hardware, Software, and Services), Delivery Mode (Cloud), Application (Clinical, RCM, Claims, Fraud, Risk, PHM), End user (Payer, Provider) and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The healthcare analytics market is expected to witness significant growth in the upcoming years due to growing demand for population health management, changing healthcare dynamics amidst COVID-19, need for redesigned EHR with advanced analytics capabilities, focus on e-health collaborations, investments by venture capitalists, increasing pressure to provide quality care and control healthcare costs, and rise in adoption of big data in healthcare industry.

The overall healthcare analytics market is primarily segmented by type (descriptive analytics, predictive analytics, and prescriptive analytics), component (services, software, and hardware), mode of delivery (on-premise, web-based, and cloud-based analytics models), application (financial analytics, clinical analytics, operational analytics & administrative analytics, and population health analytics), end-user (payer, provider, and accountable care organizations (ACOs)) and by geography.

An in-depth analysis of the geographic scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, North America region is estimated to hold the largest share of the global healthcare analytics market in 2020 and is expected to maintain its dominance throughout the forecast period. This region is also expected to grow at the highest growth during the forecast period.

The large share of this region is mainly attributed to the significant adoption of analytics in the U.S. post the implementation of Affordable Care Act (ACA) and impact of on-going COVID-19 pandemic, easy availability of analytics solutions in this region, prominent venture capital investments in the U.S., and significant government focus on population health management and value-based care.

Market Dynamics

Drivers

• Growing Demand for Population Health Management (PHM)
• Changing Healthcare Dynamics Amidst COVID-19
• Need for Redesigned EHR With Advanced Analytics Capabilities
• Focus on E-Health Collaborations that Help Providers with Analytics Capabilities
• Significant Venture Capital (VC) Investments in Digital Health
• Increasing Pressure to Provide Quality Care & Control Healthcare Costs
• Rising Adoption of Big Data in Healthcare
• Technological Advancements

Restraints

• Lack of Data Scientists/Analytics Skills
• High Price of Analytics Solutions

Opportunities

• COVID-19 Specific Solutions Based on Analytics
• Growing Application of Analytics in Precision Medicine
• Cloud-Based Analytics

Challenges

• Data Security and Privacy Issues
• Data Integration

Company Profiles

• Allscripts Healthcare Solutions, Inc.
• Cerner Corporation
• EPIC Systems
• Health Catalyst
• IBM Corporation
• Inovalon HOLDINGS, INC.
• Mckesson Corporation (Change Healthcare)
• MedeAnalytics, Inc.
• Accenture Plc
• UnitedHealth Group (Optum)
• Oracle Corporation
• SAP Se
• SAS Institute Inc.
• SCIOInspire, Corp. (Part of EXLService Holdings, Inc.)
• Tableau Software, Inc. (Part of Salesforce)
• TIBCO Software Inc.
• Verscend Technologies, Inc.
• VitreosHealth (Part of HMS Holdings Corp.)
• Microsoft Corporation

For more information about this report visit https://www.researchandmarkets.com/r/523qpl

View source version on businesswire.com: https://www.businesswire.com/news/home/20200721005762/en/

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

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Source: Research and Markets