DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Healthcare Analytics Market - Growth, Trends & Forecast, 2015-2020" report to their offering.
The Global Healthcare Analytics Market was valued at USD 8.48 billion in 2015 and is projected to reach USD 23.8 billion by 2020, at a CAGR of 23.9% during the forecast period from 2014 to 2020.
The healthcare analytics technology, which extensively uses data for quantitative and qualitative analysis, is undergoing an industry transformation from volume-based medicines and reimbursement to value-based medicines and reimbursement. Factors, such as the sudden emphasis on a more improved quality healthcare, reduced length-of-stay at hospitals, lower costs of health and medicine, and fraud detection, are some of the primary demands of payers of this technology. Additionally, higher incentives for medicine, integration of big data in healthcare, and technological advancements, among others are some of the other drivers of this market.
The technology also has certain constraints to overcome, such as the wide gap between payers and providers in terms of operation and availability, the high cost of initial investments, and the lack of technical expertise and sufficient knowledge base. Data Integrity and safety is also a key concern. However, the technology has several opportunities as well.
Though the descriptive analytics segment accounts for the largest market share of 62.0% in the global healthcare technology, its market share is expected to decrease by 2020. The predictive analytics segment is expected to witness the highest CAGR globally during the forecast period. North America is expected to command the highest market revenue and is estimated to reach a market value of USD 15.7 billion by 2020.
- Tableau Software
- Cerner Corporation
- Metric Insights
- Rapid Insights
- Fuzzy Logix
- Mckesson Corporation
- Information Builders
- Precision Software
- Truven Health Analytics
For more information visit http://www.researchandmarkets.com/research/kzbplc/global_healthcare