Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) — “Global Healthcare Analytics Software Market (2023-2028) by Type, Application, End User, Delivery Mode and Geography, Competitive Analysis, Impact of COVID-19 and Ansoff Analysis” in report has been added researchandmarkets.com gift.
The global healthcare analytics software market is estimated to be worth USD 40.14 billion in 2023 and is expected to reach USD 103.43 billion by 2028, growing at a CAGR of 20.84%.
Healthcare analytics software plays a vital role in empowering healthcare professionals to identify opportunities to improve care delivery, medical outcomes, operational efficiency and patient engagement. This technology integrates real-time and historical data to forecast health care trends, uncover actionable insights, and drive long-term growth.
Healthcare analytics systems use large amounts of data to provide valuable insights to organizations. The healthcare industry has faced challenges such as inadequate patient care, rising treatment costs, low patient retention and engagement. As a result, healthcare analytics are being integrated throughout the industry to enhance patient care and operational efficiency. These factors are driving the growth of the healthcare analytics sector.
- Government Initiatives and Use of Big Data: Increasing government initiatives and the use of big data in healthcare organizations are encouraging the adoption of electronic health records (EHRs) and contributing to the growth of healthcare analytics.
- Cost Reduction Requirements: The need for healthcare organizations to reduce unnecessary expenses is expected to have a significant impact on the growth of the global healthcare analytics market.
- technological advancements: Rapid technological advancements and substantial investment by the healthcare industry in IT development and digitalization have led to substantial growth in healthcare analytics.
- Better Patient Management: Analytics platforms deployed by healthcare institutions globally have improved patient management, retention and overall care delivery, thereby reducing the burden on healthcare providers.
- High Cost of Analytics Solutions: The high costs associated with healthcare analytics solutions can be a barrier to adoption, especially for smaller healthcare providers.
- Shortage of technical experts: The lack of technical experts skilled in healthcare analytics creates challenges in implementation.
- Increased Funding: Increasing funding in the healthcare sector and integration of advanced analytics such as AI, ML and Big Data provide significant opportunities for the growth of the market.
- Precision and personalized medicine: The use of analytics in precision and personalized medicine offers new avenues of expansion.
- Epic Systems Corporation
- health catalyst
- make me healthy
- IBM Corporation
- Indohealth Software Solutions Pvt Ltd
- McKesson Corporation
- MediaAnalytics, Inc.
- Optum and Change Healthcare
- Optum, Inc.
- Oracle Corporation
- SAP SE
- SAS Institute, Inc.
- joint health group
Global Healthcare Analytics Software Market is segmented on the basis of:
- descriptive analytics
- predictive analytics
- instructional analytics
- Clinical Analytics
- financial analytics
- population health analysis
- Operational and Administrative Analytics
- educational organization
- biotechnology industry
- health care payer
- health care providers
Medium of Distribution:
- Of America
- Middle East and Africa
- Asia Pacific
|number of pages||196|
|forecast period||2023 – 2028|
|Estimated market value in 2023 (USD).||$40.14 billion|
|Estimated market value by 2028 (USD).||$103.43 billion|
|compound annual growth rate||20.8%|
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Global Healthcare Analytics Software Market