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2019 Healthcare Analytics Market Segments by Application Analysis, End Users, Regions and Forecast to 2022

RNRmarketresearch added a new report on The Healthcare Analytics Market report delivers the clean elaborated structure of the Report comprising each and every business related information of the market at a global level. The complete range of information related to the Healthcare Analytics Market is obtained through various sources and this obtained bulk of the information is arranged, processed, and represented by a group of specialists through the application of different methodological techniques and analytical tools such as SWOT analysis to generate a whole set of trade based study regarding the Healthcare Analytics Market.

The healthcare analytics market is expected to reach USD 50.5 billion by 2024 from USD 14.0 billion in 2019, at a CAGR of 28.3% during the forecast period. Increasing government initiatives to increase EHR adoption, growing pressure to curb healthcare costs, availability of big data in healthcare, increasing venture capital investments, rising focus on improving patient outcomes, and technological advancements are driving the growth of the healthcare analytics market.

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Top companies added in healthcare analytics market are IBM Corporation (US), Optum, Inc. (US), Cerner Corporation (US), SAS Institute, Inc. (US), Allscripts Health Solutions (US), McKesson Corporation (US), MedeAnalytics, Inc. (US), Inovalon (US), Oracle Corporation (US), Health Catalyst (US), SCIO Health Analytics (US), Verscend Technologies, Inc. (US), CitiusTech, Inc. (US), Wipro Limited (India), and VitreosHealth (US).

“Growing initiatives to increase EHR adoption and big data in healthcare are expected to drive the overall growth of the healthcare analytics market.”

The clinical analytics segment is poised to grow at the highest CAGR during the forecast period. Growth in this segment is mainly due to the growing pressure to curtail healthcare spending, large volumes of healthcare data containing valuable insights, increasing incentives by governments (especially in the US) for improving the quality and reducing the cost of care, growing adoption of electronic health records (EHRs), and rising focus on building patient registries.

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The healthcare analytics market is segmented into clinical analytics, financial analytics, operational and administrative analytics, and population health analytics. Financial analytics market is segmented into revenue cycle management; claims processing; payment integrity and fraud, waste, & abuse (FWA); and risk adjustment and risk assessment.

North America to witness high growth during the forecast period. In 2017, North America is expected to account for the largest share of the market followed by Europe. This regional segment is expected to register the highest CAGR during the forecast period.

The healthcare analytics market is segmented into on-premise and on-demand models. In 2019, the on-premise models segment is expected to account for the largest share of the healthcare analytics market. Factors such as government initiatives to increase EHR adoption, growing venture capital investments, growing pressure to curb healthcare spending and improve patient outcomes, the emergence of big data in healthcare, and the rising importance of real-world evidence are expected to drive the growth of the market.

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Report higlighted by application, healthcare analytics market has been segmented into financial analytics, clinical analytics, operational & administrative analytics, and population health analytics. The financial analytics segment is estimated to dominate the market in 2019, due to a rising focus of payers on the early detection of fraud and reducing preventable costs.

Table of Contents in Healthcare Analytics/Medical Analytics Market Report:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Sources
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Resources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Ranking of Key Players
2.5 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Healthcare Analytics Market Overview
4.2 Global Market, By Type, 2019 vs 2014 (USD Billion)
4.3 Global Market, By Component, 2019 vs 2014 (USD Billion)
4.4 Global Market, By Delivery Model
4.5 Financial Analytics Market Share, By Type & Region (2019)
4.6 Global Market, By End User, 2019 vs 2024 (USD Billion)
4.7 Global Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Initiatives to Increase EHR Adoption
5.2.1.2 Growing Venture Capital Investments
5.2.1.3 Growing Pressure to Curb Healthcare Spending and Improve Patient Outcomes
5.2.1.4 Big Data in Healthcare
5.2.1.5 Growing Focus on Real-World Evidence
5.2.2 Restraints
5.2.2.1 High Cost of Analytics Solutions
5.2.3 Opportunities
5.2.3.1 Increasing Focus on Value-Based Medicine
5.2.3.2 Use of Analytics in Precision and Personalized Medicine
5.2.3.3 Cloud-Based Analytics
5.2.3.4 Increasing Number of Patient Registries
5.2.3.5 Emergence of Social Media and Its Impact on the Healthcare Industry
5.2.3.6 Augmented Analytics
5.2.3.7 Analytics of Healthcare Things
5.2.4 Challenges
5.2.4.1 Patient Data Confidentiality
5.2.4.2 Concerns Regarding Inaccurate and Inconsistent Data
5.2.4.3 Reluctance to Adopt Healthcare Analytics in Emerging Countries
5.2.4.4 Data Integration
5.2.4.5 Operational Gaps Between Payers and Providers
5.2.4.6 Dearth of Skilled Personnel

6 Market for Healthcare Analytics, By Type
6.1 Introduction
6.2 Descriptive Analytics
6.2.1 Descriptive Analytics are Used to Convert Past Data Into Useful Information
6.3 Predictive Analytics
6.3.1 Increasing Incidence of Healthcare Fraud is Driving the Market for Predictive Analytics
6.4 Prescriptive Analytics
6.4.1 Prescriptive Analytics to Register Highest Growth Rate During the Forecast Period
6.5 Cognitive Analytics
6.5.1 Vendors are Focusing on Introducing Ai-Driven Analytics Solutions

7 Market for Healthcare Analytics, By Component
7.1 Introduction
7.2 Services
7.2.1 Support Services
7.2.1.1 Support Services Include Implementation, Ongoing It Support, System Integration, Training, and Maintenance Services.
7.2.2 Business Analytics Services
7.2.2.1 Business Analytics Services Help Healthcare Organizations to Optimize the Use of Analytics and Drive Performance Improvement
7.3 Software
7.3.1 Healthcare Analytics Software Works as an Interface Between Database and End Users
7.4 Hardware
7.4.1 Increasing Adoption of Cloud Servers is Expected to Hinder the Growth of the Hardware Market for Analytics

8 Market for Healthcare Analytics, By Delivery Model
8.1 Introduction
8.2 On-Premise Delivery Model
8.2.1 On-Premise Delivery Models Offer Multivendor Architecture, Which Lowers the Risk of Data Breaches & External Attacks
8.3 On-Demand Delivery Models
8.3.1 Increasing Volume of Data Generated Across the Healthcare Provider Industry to Drive the Adoption of On-Demand Models

9 Market for Healthcare Analytics, By Application
9.1 Introduction
9.2 Financial Analytics
9.2.1 Claims Processing
9.2.1.1 Need to Improve Claims Response Time and Avoid Fraudulent Claims Will Support the Use of Analytics Tools
9.2.2 Revenue Cycle Management (RCM)
9.2.2.1 Healthcare Organizations are Rapidly Adopting Predictive Analytics Solutions for Proactive Decision-Making
9.2.3 Payment Integrity & Fraud, Waste, and Abuse (FWA)
9.2.3.1 Implementation of Icd-10 Code Sets and Adoption of Fee-For-Value Systems Will Drive Market Growth
9.2.4 Risk Adjustment & Assessment
9.2.4.1 Risk Adjustment & Assessment Allow for Optimization of Cash Flows and Improved Financial Performance
9.3 Clinical Analytics
9.3.1 Quality Improvement & Clinical Benchmarking
9.3.1.1 Benchmarking Allows for the Identification of Issues Which are Negatively Impacting Healthcare Systems
9.3.2 Clinical Decision Support (CDS)
9.3.2.1 Predictive Clinical Analytics Reduce Medical Errors and Ensure That Appropriate Tests are Performed, A Key Factor for Market Growth
9.3.3 Reporting & Compliance
9.3.3.1 Stringent Regulatory Requirements Have LED to the Need for Reporting & Compliance Solutions
9.3.4 Comparative Analytics/Effectiveness
9.3.4.1 Growing Adoption of EHRs to Provide Significant Growth Opportunities
9.3.5 Precision Health
9.3.5.1 Strong Government Support for Personalized Medicine is Likely to Drive Market Growth
9.3.6 Medical Imaging Analytics
9.3.6.1 Imaging Analytics Aided By Artificial Intelligence and Machine Learning is Rapidly Expanding Within the Healthcare It Industry
9.4 Operational & Administrative Analytics
9.4.1 Supply Chain Analytics
9.4.1.1 Growing Requirement to Reduce Healthcare Costs Will Increase the Adoption of Supply Chain Analytics Solutions
9.4.2 Workforce Analytics
9.4.2.1 Need for Real-Time Resource Demand and Supply Data to Drive the Adoption of Workforce Analytics Solutions
9.4.3 Strategic Analytics
9.4.3.1 Strategic Analytics Uses Advanced Analytics Tools to Leverage Operational and Usage Data, A Key Advantage
9.5 Population Health Analytics
9.5.1 Population Health Analytics Improves Population Health Outcomes and Lowers Costs, A Key Factor for Market Growth

10 Market for Healthcare Analytics, By End User
10.1 Introduction
10.2 Payers
10.2.1 Private Insurance Companies
10.2.1.1 Private Insurance Companies to Account for the Largest Share of the Market for Payers in 2019
10.2.2 Government Agencies
10.2.2.1 Increasing Use of Analytics Solutions By Government Agencies Will Boost the Market Growth
10.2.3 Employers and Private Exchanges
10.2.3.1 Private Exchanges and Employers Use Data Analytics for Rapid Data Integration, Health Plan Analysis, and Risk Modeling
10.3 Providers
10.3.1 Hospitals, Physician Practices, and IDNS
10.3.1.1 The Adoption of Healthcare Analytics Solutions is the Highest in Large Hospitals
10.3.2 Post-Acute Care Organizations (PACOS)
10.3.2.1 PACOS are Focusing on Reviewing and Studying Patient Data With the Help of Healthcare Analytics
10.3.3 Ambulatory Settings
10.3.3.1 The Need to Control Healthcare Costs Will Drive the Growth of This End-User Segment in the Global Market
10.4 ACOS, HIES, MCOS, and TPAS

11 Market for Healthcare Analytics, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Adoption of EHRs to Drive the Global Market in the Us
11.2.2 Canada
11.2.2.1 Need for Managing Patient Volumes, Clinical Data, and Healthcare Costs Will Favor Market Growth
11.3 Europe
11.3.1 Germany
11.3.1.1 Germany Dominates the Global Market in Europe
11.3.2 UK
11.3.2.1 Availability of Venture Capital Investments has Grown in the UK
11.3.3 France
11.3.3.1 Strong Financial Support for Digital Health Have Contributed to the Growth of Healthcare Analytics
11.3.4 Rest of Europe
11.4 Asia
11.4.1 Japan
11.4.1.1 Rise in Geriatric Population Will Increase the Demand for Effective Patient Management Solutions
11.4.2 China
11.4.2.1 Favorable Reforms and A Growing Number of EHRs Have Contributed to Market Growth in China
11.4.3 India
11.4.3.1 The HCIT Market in India is Still in the Nascent Stage
11.4.4 Rest of Asia
11.5 Pacific Countries
11.5.1 Australia and New Zealand are Focusing on Reducing Healthcare Costs
11.6 Latin America
11.6.1 Many Latam Countries Have Undertaken Ehealth Initiatives
11.7 Middle East and Africa
11.7.1 High Healthcare Expenditure, Infrastructural Development Will Support the Use of HCIT Solutions in the Middle East

12 Competitive Landscape
12.1 Overview
12.2 Ranking of Key Players, 2018
12.3 Competitive Leadership Mapping
12.3.1 Vanguards
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
12.4 Competitive Scenario
12.4.1 Partnerships, Agreements, Collaborations, and Alliances
12.4.2 Product Launches and Enhancements
12.4.3 Acquisitions
12.4.4 Expansions

13 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
13.1 Allscripts Healthcare Solutions
13.2 Cerner
13.3 Cotiviti (Verscend Technologies)
13.4 Citiustech
13.5 Health Catalyst
13.6 IBM
13.7 Inovalon
13.8 Mckesson
13.9 Medeanalytics
13.10 Optum
13.11 Oracle
13.12 SAS Institute Inc.
13.13 SCIO Health Analytics (An EXL Company)
13.14 Vitreoshealth
13.15 Wipro

*Details on Marketsandmarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

and more

 

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