Dublin, May 04, 2021 (GLOBE NEWSWIRE) -- The "Healthcare Analytics Market Share, Size, Trends, Industry Analysis Report, By Type, By Application, By End-Use; By Delivery Mode; By Regions; Segment Forecast, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global healthcare analytics market size is expected to reach USD 48.50 billion by 2028
In the past few years, there has been a radical shift in data collection, storage, maintenance, management, encryption, and visualization. A newly designed ecosystem not only has the potential of disease prevention but also enhances the accuracy of diagnosis, providing safe and effective treatments. It also encourages a personalized patient-centric approach instead of 'one size fits all'. Healthcare analytics is the broader concept used differently by varied stakeholders. For healthcare practitioners it helps in monitoring health, personalizing treatment, remote consulting, and predictive analytics for informed decision making.
The government can use such unified data to identify patterns and trends at the national and regional level in population-based studies. It enables the government to frame health policies, disease outbreak management, and demographic-specific disease programs. Labs and hospitals can structure data to map patient's health journey for better healthcare outcomes. Pharma companies have different departments such as research and development and sales can use advanced analytics techniques, AI, and machine learning for drug discoveries, brand effectiveness, and market assessments.
Market participants such IBM Corp., MedeAnalytics, Inc., Oracle Corp., OptumHealth, Inc., Verisk Analytics, Inc., MEDai, Inc., McKesson Corp., Truven Health Analytics, Allscripts Healthcare, Cerner Corporation, and SAS Institute, Inc. are some of the key players operating in the global market.
Many big players in the market are diving into the healthcare analytics industry to answer unmet medical needs. For instance, in January 2020, Microsoft launched the "AI for Health" program to improve the health of people around the globe. This would be a USD 40 million five-year programs to empower researchers and was developed in collaboration with the help of leading health experts.
This is the 5th AI program for researchers, non-profit organizations with innovative technologies to unlock solutions to the biggest challenges that societies are currently facing. Such an AI initiative is expected to focus on drug discoveries, global health insights, and reducing health equities for the under-served population.
Moreover, recently in December 2020, the U.S.-based insurer, Highmark Health, and Google cloud announced the 6-year strategic partnership to use Google's cloud and analytics platform to power the company's digital health initiatives. The company has an integrated delivery network of 13 hospitals, and around 2,500 physician and ambulatory care centers.
Verisk Analytics Inc.
Truven Health Analytics
SAS Institute Inc.
Scope of the Report
Healthcare Analytics, Type Outlook
Healthcare Analytics, Application Outlook
Operational & Administrative
Healthcare Analytics, Delivery Mode Outlook
Healthcare Analytics, End-Use Outlook
Life science Companies
Healthcare Analytics, by Regional Outlook
Central & South America
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/92hw6i
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