A new research study by Transparency Market Research presents a complete overview of the global market for healthcare analytics. The report, titled “Healthcare Analytics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023”, is available for sale on TMR’s website.
According to the research report, the increasing pressure to control healthcare expenses is the key driving force behind the growth of this market.
The study analyzes the global healthcare analytics market on four fronts: type, application, end user, and regional spread. On the basis of analytics type, the report classifies this market into descriptive analytics, predictive analytics, and prescriptive analytics. Among these, the descriptive analytics segment is likely to occupy a dominant share of the market over the forecast period.
Based on application, the healthcare analytics market is segmented into predictive analytics, big data analytics, HIPAA, and genomics. Public health systems, accountable care organizations (ACOs), private healthcare providers, monitoring agencies, health insurance firms, clinical research organizations, medical research bodies, and technology vendors are the prime end users of healthcare analytics across the world, states the report.
Regionally, the report divides the global market for healthcare analytics into North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America has acquired the leading position at present. The high number of market players present in the U.S. is the prime factor behind the dominance of the North America healthcare analytics market.
Analysts at TMR expect this regional market to retain its leadership during the forecast period. The U.S. healthcare mandates providing quality care and aimed at controlling the increasing healthcare costs are likely to boost the healthcare analytics market in North America in the near future.
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The report further states that the markets for healthcare analytics in Asia Pacific, Europe, and the Rest of the World have also been gaining impetus due to the rising demand for the treatment of diseases in their early stages, better clinical outcomes, and the increasing efficacy of the healthcare procedures in these regions.
The research report also presents a study of the competitive landscape of the global healthcare analytics market, by analyzing the company profiles of major market players. According to it, this market is fragmented and highly competitive. The presence of a large pool of market participants is the key factor behind this.
Truven Health Analytics Inc., Allscripts Health Solution, Cognizant, Oracle Corp., Mede Analytics Inc., Cerner Corp., IBM Corp., Verisk Analytics Inc., MedAssets Inc., Health Catalyst, Inovalon Inc., Mckesson Corp., Optum Inc., and SAS Institute Inc. are some of the key players operating in the worldwide healthcare analytics market, states the market study.