Boston, MA -- (ReleaseWire) -- 02/28/2014 -- The global healthcare analytics market is segmented based on products, applications, components, delivery modes, end users, and geography. On the basis of product type, the market is divided into descriptive, predictive, and prescriptive analytics. The healthcare analytics market, by component, is divided into hardware, software, and services. Based on the mode of delivery, the market is classified into on-premise models, web-hosted models, and cloud-based models. Based on end users, the market is segmented into healthcare and others. The healthcare segment is further divided into payers, providers, Health Information Exchanges (HIEs), and others. Based on geography, the market is classified into the U.S., Europe, Asia, and the Rest of the world (RoW).
The market shows a double-digit growth rate due to supportive elements such as digitization of world commerce, the emergence of Big Data, and also due to the increase in the number of advanced technologies. Factors such as federal healthcare mandates, growing healthcare IT adoption across the globe, growing fields of predictive and prescriptive analytics, and venture capital investments are driving the market. However, factors such as data security issues, patient data confidentiality, cultural barriers to IT adoption, and lack of manpower with cross-functional analytical skills may hinder the growth of this market.
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The U.S. healthcare analytics market is a well-established yet lucrative market. The European market is the second-largest market, growing at a lower rate mainly due to the economic crisis and lack of government initiatives for analytics. The Asian market is relatively new to medical analytics; however, the increasing HCIT adoption, IT skills, and outsourcing trend will drive this market.
The market is a highly fragmented market with some major players such as IBM Corporation (U.S.), Oracle Corporation (U.S.), Truven Health Analytics, Inc. (U.S.), Verisk Health, Inc. (U.S.), Optum, Inc. (U.S.), MedeAnalytics, Inc. (U.S.), McKesson Corporation (U.S.), SAS Institute, Inc. (U.S.), LexisNexis Risk Solutions (U.S.), Inovalon, Inc. (U.S.), Predixion Software (U.S.), iHealth Analytics, Inc. (U.S.), Predilytics (U.S.), and Cerner Corporation (U.S.), among others.
Scope of the Report
This research report covers the global market by type, application, delivery mode, component, end user, and geography.
Global Healthcare Analytics Market, by Type
Global Healthcare Analytics market, by Application
Medical Error Reduction
Physician Performance Evaluation
Customer Relationship Management (CRM)
Revenue Cycle Management (RCM)
Risk Management Analytics
Operational and Administrative Analytics
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