The Healthcare Analytics Market is expected to grow at a CAGR of 26% from 2020 to reach $84.2 billion by 2027. Healthcare analytics tools help reveal and understand historical data patterns, predict future events, and provide actionable insights to make fact-based decisions and improve clinical, financial and operational performance of healthcare organizations. Analytics is rapidly gaining traction as it helps healthcare systems reduce healthcare costs, improve quality of care and abide by the regulatory requirements. Thus, effective use of analytics in the healthcare industry can improve current care but more importantly can facilitate preventive care.

Drivers

  • Growing demand for Population Health Management (PHM)
  • Changing Healthcare Dynamic Amidst COVID-19
  • Need for Redesigned EHR with Advanced Analytics Capabilities
  • Focus on E-Health Collaborations that help provides with Analytics Capabilities.

Market Segmentation

  • Be Type
  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics

By Application

  • Financial analytics
  • Clinical analytics
  • Operational analytics & administrative analytics
  • Population health analytics