Healthcare Analytics Market To Reach USD 284.3 Billion By 2032, Says DataHorizzon Research
Artificial Intelligence and Machine Learning Innovations in the Healthcare Analytics Industry.
Fort Collins, Colorado, Nov. 03, 2023 (GLOBE NEWSWIRE) — According to DataHorizzon Research, the Healthcare Analytics Market size was valued at USD 29.5 Billion in 2022 and is expected to reach USD 284.3 Billion by 2032 at a CAGR of 25.5%.
The application of Big Data and Artificial Intelligence is leading to the increasing demand and use of analytics in the healthcare sector. Big Data in healthcare refers to the data generated from every patient regarding their health, past health disorders, and current status. The data is generated every time the patient visits the hospital or clinic.
It involves a complex process to maintain, understand, and generate meaningful insights from this data. This is where healthcare analytics help medical professionals. Analytics in the healthcare sector gained a huge momentum since the pandemic. It helps in easy data maintenance, accessibility, and reference to past data for a better understanding of an individual’s medical history and hassle-free maintenance of medical bills and records.
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The global healthcare analytics market has been segmented into type, deployment, component, end-user, application, and region. Life science companies hold a significant share of the healthcare analytics market. These companies use analytics to research existing diseases, their causes, and their occurrences and develop the drugs and medical devices needed to cure them. By region, North America dominates the healthcare analytics market. This is because of the growing use of analytics in every field and the use of advanced technologies for conducting better business operations.
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Healthcare Analytics Market Report Highlights:
- The global healthcare analytics market growth is anticipated at a CAGR of 25.5% by 2032.
- The application of Big Data and Artificial Intelligence is leading to the increasing demand and use of analytics in the healthcare sector.
- The healthcare analytics market has been segmented based on type as predictive, prescriptive, descriptive, and diagnostic analytics.
- Based on deployment mode, the healthcare analytics market has been segmented as on-premise, and cloud-based.
- Some prominent players in the healthcare analytics market report include IBM, Health Catalyst, McKesson Corporation, IQVIA, Wipro, Cotiviti Inc., Cerner Corporation, Veradigm, Commure Inc., Komodo Health, and Medeanalytics Inc.
Industry Trends and Insights:
- According to the Everest Group, in 2023, Tata Consultancy Services (TCS) stood as a global leader in Healthcare Data and Analytics.
- Clarify Health, a leading healthcare analytics received huge recognition for its outstanding customer service and excellence in 2023.
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Healthcare Analytics Market Segmentation:
- By Technology: Predictive analytics, prescriptive analytics, descriptive analytics, diagnostic analytics.
- By Deployment Mode: On-premise, cloud.
- By Component: Software, services.
- By End-user: Healthcare providers, patients, payers, life science companies.
- By Application: Clinical, financial, and operational.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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