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Healthcare Analytics Market 2021, Growth, Industry Size-Share, Global Trends, Key Players Strategies, Upcoming Demand, Business Opportunities, Revenue, Gross Margin and Forecast 2030

Report Ocean presents a new report on healthcare analytics market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.

The healthcare analytics market size is expected to reach USD 50.50 billion by 2030 according to a new study by Report Ocean.

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The report “Healthcare Analytics Market By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Clinical, Financial, Operational & Administrative), By End-Use; By Delivery Mode; By Regions; Global opportunity analysis and industry forecast 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In the past few years, there has been a radical shift in data collection, storage, maintenance, management, encryption, and visualization. A newly designed ecosystem not only has the potential of disease prevention but also enhances the accuracy of diagnosis, providing safe and effective treatments. It also encourages a personalized patient-centric approach instead of ‘one size fits all’. Healthcare analytics is the broader concept used differently by varied stakeholders. For healthcare practitioners it helps in monitoring health, personalizing treatment, remote consulting, and predictive analytics for informed decision making.

The government can use such unified data to identify patterns and trends at the national and regional level in population-based studies. It enables the government to frame health policies, disease outbreak management, and demographic-specific disease programs. Labs and hospitals can structure data to map patient’s health journey for better healthcare outcomes. Pharma companies have different departments such as research and development and sales can use advanced analytics techniques, AI, and machine learning for drug discoveries, brand effectiveness, and market assessments.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the healthcare analytics market also experienced a slowdown. Statista estimates that the healthcare analytics market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the healthcare analytics market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the healthcare analytics market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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Many big players in the market are diving into the healthcare analytics industry to answer unmet medical needs. For instance, in January 2020, Microsoft launched the “AI for Health” program to improve the health of people around the globe. This would be a USD 40 million five-year programs to empower researchers and was developed in collaboration with the help of leading health experts.

This is the 5th AI program for researchers, non-profit organizations with innovative technologies to unlock solutions to the biggest challenges that societies are currently facing. Such an AI initiative is expected to focus on drug discoveries, global health insights, and reducing health equities for the under-served population.

Moreover, recently in December 2020, the U.S.-based insurer, Highmark Health, and Google cloud announced the 6-year strategic partnership to use Google’s cloud and analytics platform to power the company’s digital health initiatives. The company has an integrated delivery network of 13 hospitals, and around 2,500 physician and ambulatory care centers.

Healthcare Analytics, Type Outlook (Revenue – USD Million, 2016 – 2028)

Descriptive Analytics

Predictive Analytics

Prescriptive Analytics

Healthcare Analytics, Application Outlook (Revenue – USD Million, 2016 – 2028)

Clinical

Financial

Operational & Administrative

Healthcare Analytics, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

Healthcare Payers

Healthcare Providers

Life science Companies

Healthcare Analytics, Delivery Mode Outlook (Revenue – USD Million, 2016 – 2028)

On-Premises

Web Hosted

Cloud-Based

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Healthcare Analytics, by Regional Outlook (Revenue – USD Million, 2016 – 2028)

North America

U.S.

Canada

Europe

France

Germany

UK

Italy

Spain

Netherlands

Austria

Asia Pacific

China

India

Japan

Malaysia

South Korea

Indonesia

Central & South America

Mexico

Brazil

Argentina

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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About Report Ocean:

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