Global Healthcare Analytics Market Growth Sustained by Increasing Demand for Big Data

August 09 19:20 2022
Global Healthcare Analytics Market Growth Sustained by Increasing Demand for Big Data
HEALTHCARE ANALYTICS
Inkwood Research estimates that the Global Healthcare Analytics Market is evaluated to grow with a CAGR of 25.24%% in terms of revenue during the forecasting years of 2022-2030.

“Browse 58 Market Data Tables and 51 Figures spread over 180 Pages, along with an in-depth TOC on the Global Healthcare Analytics Market Forecast 2022-2030.”

 

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Healthcare analytics is the process that analyzes historical and current healthcare data for the improvement of healthcare delivery systems, predicts trends and clinical data, in addition to the better management of the spread of diseases, among others. With the use of artificial intelligence as well as big data in the healthcare industry, healthcare analytics managers can function in an improved manner in order to provide real-time communications and collaborations, thus reducing medical costs and enhancing the quality of patient care.

 

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Rising Demand for Big Data to Fuel Market Growth

Over recent years, the use of big data has increased and plays a critical role in various businesses, sectors, and governmental organizations. For example, while financial services firms utilize big data systems for the real-time assessment of market data and risk management, transportation companies as well as manufacturers rely on big data to optimize delivery routes and manage their supply chains. In this regard, the use of big data in the healthcare sector facilitates the easier collection of real-time data, thus bolstering healthcare marketing. Furthermore, as per the World Economic Forum, the global big data market is set to capture $175 billion by the year 2025.

 

Clinical Analytics is the Leading Application

Clinical analytics are used to diagnose and treat diseases, improve the quality of treatments, prevent deaths due to neglect, and reduce medication errors. The rapid growth of clinical analytics across the healthcare industry augments data collection as well as the analysis of information from different sources, particularly for high-quality services in the medical industry. Moreover, with the adoption of digital technology and smart mobile devices, patients can expect high-quality care in hospitals and medical centers.

 

Asia-Pacific to be the Fastest-Growing Region by 2030

The Asia-Pacific is anticipated to rise with the highest CAGR during the estimated years. The regional market’s growth is ascribed to the rise in government initiatives for increasing data analytics in the healthcare sector, the surging amount of complex data, and the swift adoption of EHR. However, the market growth in the Asia-Pacific may be hindered by the increasing number of data breaches owing to the use of cloud technology as well as big data.

The industrial rivalry across the global healthcare analytics market is high. Moreover, market leaders attempt to develop healthcare analytics software, data collection tools, and others with the intent to supply these solutions across the world.

Some of the leading players operating in the global healthcare analytics market are IBM Corporation, IQVIA, Oracle, Inovalon, etc.

 

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About Inkwood Research

Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

 

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