Global Medical & Healthcare Analytics Market Size, Share, Growth, Analysis , Trends & Forecast To 2020

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The global healthcare industry has undergone a major transformation with the introduction of medical and healthcare analytics. Digitizing the healthcare industry has had revolutionary impact; in a sense that it has reduced hospital stay, improved the quality of healthcare services, prevented the attack and spread of novel diseases, and helped in the detection of fraudulent activities.

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Factors such as emergence of Big Data, federal mandates in the field of healthcare, digitalization of various industries, impact and role of social media, and improved investment returns fuel the growth of the global medical and healthcare analytics market. On the other hand, dearth of skilled labor, concerns regarding security of patient information, reimbursement issues, functional gap between healthcare providers and payers, and rise in government regulation have restrained the medical and healthcare analytics market.

The report throws light on the extremely fragmented medical and healthcare analytics market. The report segments and analyzes the global medical and healthcare analytics market on the basis of platform, application, component, delivery mode, end user, and geography.

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On the basis of platform, the medical and healthcare analytics market is segmented into prescriptive analytics, predictive analytics, and descriptive analytics. Among these, the descriptive analytics segment dominated the medical and healthcare analytics market in 2013 and is estimated to grow at a strong CAGR by the end of the forecast period.

By component, the medical and healthcare analytics market is categorized into software, hardware, and services. The main application areas of medical and healthcare analytics are research analytics, operational analytics, financial analytics, clinical data analytics, and others. Growing at a healthy CAGR of over 25%, the financial analytics segment led the overall medical and healthcare analytics market in terms of applications.

The key modes of delivery of medical and healthcare analytics are cloud-computing, web-hostel model, and on-premise. The major end users of medical and healthcare analytics are healthcare providers, payers, healthcare information exchanges, and others. Among these, payers accounted for the biggest revenue share in 2013 and this end-user segment is anticipated to register a robust CAGR during the forecast period.

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Geographically, the global medical and healthcare analytics market is divided into North America, Europe, and Asia-Pacific, and Rest of the World. North America led the global market, growing at an over 25% CAGR by the end of 2020.

The global medical and healthcare analytics market is highly competitive and has numerous players operating within the industry. The research report identifies and profiles the various participants of the medical and healthcare analytics market and evaluates individual companies on aspects such as company overview, new product and services launch, partnerships, collaborations, deals, agreements, and joint ventures, expansions, mergers and acquisitions, financial situations, strategies, and other developments.

Some of the leading industry players mentioned in the medical and healthcare analytics market include Cerner Corporation, Information Builders, Truven Health Analytics, Allscripts Healthcare Solutions, IBM Corporation, Oracle Corporation, Mc Kesson Corporation, Epic, MedeAnalytics, Inc., and Optum, Inc. Among these, Cerner Corporation led the global medical and healthcare analytics market, accounting for 20% of the overall market share.

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