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Global Healthcare Analytics Market – Growth, Trends & Forecast To 2020

The Global market for Healthcare Analytics is poised to reach $23,800 million by the end of 2020 growing at an estimated CAGR of 23.9%. The healthcare industry is undergoing a transformation from volume-based to value-based business. Factors such as improved quality care, reduced length-of-stay in hospitals, fraud detection, and prevention of novel diseases are the main demands from payers and providers.

The Global Healthcare Analytics market is segmented on the basis of Technology/Platform (Predictive Analytics, Prescriptive Analytics, and Descriptive Analytics), Application (Clinical Data Analytics, Financial Data Analytics, Administrative Data Analytics and Research Data Analytics), Component (Software, Hardware and Services), Mode of Delivery (Cloud Based model, Web hosted model, and On premise model), End-User (Healthcare, Pharmaceuticals, Biotechnology, Academia and Others), Geography (North America, Europe, Asia Pacific and Rest of the World).

Drivers:

Emergence of Big Data in healthcare, introduction of federal healthcare policies, increased focus on data collection & analysis for better customer service, progress in clinical outcomes, rapid technological advances & emergence of social media and its impact on the healthcare industry are the major factors driving the growth of the global Healthcare analytics market.

Challenges:

Lack of proper skilled labor, data integrity issues, cost & complexity of the software and major opposition from the medical industry towards accepting an IT based approach are hindering the growth of the market.

 

Article Source: http://www.researchandmarkets.com/publication/m3fd2t1/global_healthcare_analytics

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