About Healthcare Analytics Solutions
Healthcare analytics solutions can be delivered as software as a service and also can be cloud-based. This analytics solution consists of a vast amount of patient data in electronic form to provides healthcare organizations and businesses with all the insights. The insights are created on the basis of predictive, prescriptive, and descriptive form helping in all the decision-making need to improve and manage the healthcare data and other operations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Oracle (United States), OptumHealth (United States), Verisk Analytics, Inc. (United States), ScienceSoft USA Corporation (United States), Elsevier (Netherlands), MedeAnalytics (United States), McKesson Corporation (United States), Cerner Corporation (United States), SAS Institute Inc. (United States), QPharma, Inc. (United States), Allscripts Healthcare Solutions, Inc. (United States) and Express Analytics (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Healthcare Analytics Solutions market by Type (SaaS and Web-based), Application (Clinical and Financial) and Region.
On the basis of geography, the market of Healthcare Analytics Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Technology, the sub-segment i.e. Prescriptive will boost the Healthcare Analytics Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Artificial Intelligence and Predictive Technology in Healthcare Analytics Solutions
Market Growth Drivers:
Growing Healthcare Transformation with Requirement of Insights available For Accurate Analysis of Clinical and Financial Data and Rising Number of Electronic Health Record Data
Challenges:
Risk of Data Privacy with the Healthcare Analytics Solutions
Restraints:
Low Availability and Less Knowledge about the Healthcare Analytics Solutions in the Rural Parts of the World
Opportunities:
Surging Demand for the Healthcare Analytics Solutions in Developing Countries with the Growing Patient Data
Market Leaders and their expansionary development strategies
On 19th March 2021, Optum and Change Healthcare have agreed to combine, uniting two of the nation's largest technology and service companies. The agreement is expected to close in the second half of 2021, with Optum buying Change's common stock. The Blackstone Group, which owns approximately 20% of the common stock of Change Healthcare, has agreed to vote the shares they control in favor of the combination.
On 9th June 2021, QPharma, a leader in Medical, Commercial, and Compliance Services for the life sciences industry announced the launch of Neolytica, a subsidiary that will take healthcare analytics to an entirely new level.
Key Target Audience
Healthcare Analytics Solutions Providers, Healthcare Analytics Industry Associations, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.