Global Healthcare Analytics Market Insights, production, value,
price, Future and Forecast up to 2023
The Healthcare Analytics Market is estimated projected to grow at a CAGR of 28.0 % to
reach USD billion by 2023. High adoption rates of electronic health record systems coupled
with the application of big data in healthcare and increasing investment expenditures in
healthcare industry is also boosting the growth of healthcare analytics market. However, the
lack of skilled IT professionals coupled with the penetrating data integrity issues are the
major restraints of healthcare analytics market. In addition, the implementation and
applications of electronic health records, focus on value-based medicines and growing
adoption of cloud-based analytics serve to be the prime opportunities for this market..
The healthcare analytics market can be segmented on the basis of type, component,
delivery mode, application, and end-user. On the basis of type, the healthcare analytics
market can be segmented into descriptive analytics, diagnostic analytics, predictive
analytics, and prescriptive analytics. The descriptive analytics segment, on the basis of
types of healthcare analytics market, is reported to have the largest market share, owing to
the increasing supportive and favorable healthcare policies that are launched by the
government, progressive outcomes of clinical processes and the positive impact of social
media on the healthcare industry.
On the basis of components, the healthcare analytics market can further be segmented into
services, software, and hardware. The services segment is further categorized as support
services and business analytics services; whereas the software segment is further divided
into standalone and integrated. Based on components of Healthcare analytics market, the
services segment holds the largest market share accounting to the elevating need for
business analytics services coupled with the advancements in technical healthcare analytics
software. In addition, the emerging requirement of personalized and evidence-based
medicine is also responsible for increasing the demand for service-based healthcare
analytics software in the market.
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