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    ProQuestDocuments 2023 11 23

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    Manav Agarwal
    The global healthcare analytics market is expected to reach $167B by 2030, growing at 21.5% annually. Descriptive analytics currently dominates due to studying historical data, while predictive analytics is growing fastest by providing future insights. Services are the largest component as most organizations outsource analytics, and on-premises delivery is most common for ease of access, though cloud adoption is rising due to cost and scale benefits.

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    ProQuestDocuments 2023 11 23

    Uploaded by

    Manav Agarwal
    9 views4 pages
    The global healthcare analytics market is expected to reach $167B by 2030, growing at 21.5% annually. Descriptive analytics currently dominates due to studying historical data, while predictive analytics is growing fastest by providing future insights. Services are the largest component as most organizations outsource analytics, and on-premises delivery is most common for ease of access, though cloud adoption is rising due to cost and scale benefits.

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    ProQuestDocuments-2023-11-23

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    The global healthcare analytics market is expected to reach $167B by 2030, growing at 21.5% annually. Descriptive analytics currently dominates due to studying historical data, while predictive analytics is growing fastest by providing future insights. Services are the largest component as most organizations outsource analytics, and on-premises delivery is most common for ease of access, though cloud adoption is rising due to cost and scale benefits.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    9 views4 pages

    ProQuestDocuments 2023 11 23

    Uploaded by

    Manav Agarwal
    The global healthcare analytics market is expected to reach $167B by 2030, growing at 21.5% annually. Descriptive analytics currently dominates due to studying historical data, while predictive analytics is growing fastest by providing future insights. Services are the largest component as most organizations outsource analytics, and on-premises delivery is most common for ease of access, though cloud adoption is rising due to cost and scale benefits.

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    of 4

    Healthcare Analytics Market Size, Share &Trends

    Analysis Report By Type, By Component, By


    Delivery Mode, By Application, By End-use And
    Segment Forecasts, 2022 - 2030: Healthcare
    Analytics Market Size, Share &Trends Analysis
    Report By Type, By Component, By Delivery Mode,
    By Application, By End-use, And Segment
    Forecasts, 2022 - 2030 Healthcare Analytics Market
    Growth &Trends
    ProQuest document link

    FULL TEXT
    New York, May 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report
    "Healthcare Analytics Market Size, Share &Trends Analysis Report By Type, By Component, By Delivery Mode, By
    Application, By End-use And Segment Forecasts, 2022 - 2030" -
    https://www.reportlinker.com/p06278020/?utm_source=GNW

    The global healthcare analytics market size is expected to reach USD 167 billion expanding at a CAGR of 21.5%
    from 2022 to 2030. The increase in capital investments by the healthcare industry in the IT sector for better
    management and cost-effective patient care are key growth factors for the healthcare analytics market.

    Descriptive analytics holds the biggest revenue share, its use in studying historical data has been successfully and
    widely adopted during the pandemic for studies on patient populations, the current method of analysis has been
    studying historical data to devise actionable insights for professionals to act on. Predictive analytics accounted for
    the fastest growth owing to the ability to provide future prospects for growth and for delivering better results.

    By component, the services component had the largest revenue share in 2021, owing to the majority of healthcare
    institutes outsourcing their data analytics to third-party vendors.A large number of data analytics companies have
    been collaborating with the institutions to deliver meaningful insights for better patient care and for maximizing their
    profits by cost-cutting.

    Better patient monitoring, and care are key factors for the growth of this component.

    The on-premises delivery model holds the largest revenue share in the delivery mode segment. This has been due
    to the ease of access of data being on the site, i.e., at hospitals, etc. this has resulted in better patient monitoring,
    better management of records, etc., small institutions are manageable for on-premises delivery mode, another
    option for data storage is cloud-based. Cloud-based deployment has been the emerging delivery mode due to the
    fact that it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is a

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    commercially more viable option for industries.

    The financial application was the top grosser in the applications category.Most of the industry in the healthcare
    sector is focusing on cutting costs, and maximizing their profit margins, but also are keen on delivering better care to
    customers.

    The costs incurred from insurance frauds have been on the rise, with the help of analytics tools, the aim is to find
    errors in insurance claims, thus reducing the cost of care.

    The life-science companies hold the highest revenue share amongst the end-users in the market.The companies are
    constantly looking to improve their products but doing so at a lower cost has been the agenda.

    Analytics plays a major role in understanding the market dynamics &future business prospects and the need of
    consumers for better product offerings and cost-cutting.Healthcare providers are increasingly adopting analytical
    platforms for studying and understanding clinical data being generated during the pandemic due to the overall
    increase in the prevalence of various diseases.

    The analytical platforms help them deliver better care and understand the dynamics of the spread of diseases and
    ways to control them.

    North America has been a key region in the healthcare analytics market, owing to the developed healthcare industry,
    the need for data analytical solutions due to the multitude of patient data has been the largest in the region.The
    presence of key market players has also been a reason for the largest market share.

    The fastest-growing region was the Asia Pacific, due to rapid development, increase in disease burden, the influx of
    capital in the healthcare industry are all propelling growth in this region.

    COVID-19 pandemic has resulted in the healthcare industry being over-burdened with patient load and an
    insurmountable amount of data generated from the coronavirus studies alone, coupled with other diseases, this
    presents a huge opportunity for IT firms and start-ups to lap up the information at hand and drive innovation and
    better ways to deliver care to patients.

    Healthcare Analytics Market Report Highlights


    •The descriptive analysis had a market share of 37.1% in 2021, owing to its use in understanding historical datasets
    •The services segment was the largest component, due to the majority of healthcare industries relying on IT
    companies for their services
    •On-premises delivery mode was the most prominent in the market, due to ease of access and security
    •Financial applications recorded the highest revenue share owing to the fact that the healthcare industry has been
    under the burden to reduce costs and deliver better patient care, together
    •Life science companies were the largest end-users due to the need for companies to develop better products,
    improve their profits and deliver cost-effective care to patients has been a priority
    •The North American region has been a pioneer in the healthcare data analytics industry owing to the presence of
    key players in the market
    Read the full report: https://www.reportlinker.com/p06278020/?utm_source=GNW

    About Reportlinker
    ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data

    PDF GENERATED BY PROQUEST.COM Page 2 of 4


    so you get all the market research you need - instantly, in one place.

    __________________________

    Clare: [email protected]
    US: (339)-368-6001
    Intl: +1 339-368-6001

    DETAILS

    Subject: Patients; Data analysis; Profit margins; Health care industry; Trends; Coronaviruses;
    Pandemics; Cost reduction; Market shares; Market research; COVID-19

    Business indexing term: Subject: Profit margins Health care industry Cost reduction Market shares Market
    research; Industry: 54191 : Marketing Research and Public Opinion Polling

    Classification: 54191: Marketing Research and Public Opinion Polling

    Publication title: NASDAQ OMX's News Release Distribution Channel; New York

    Publication year: 2022

    Publication date: May 18, 2022

    Publisher: NASDAQ OMX Corporate Solutions, Inc.

    Place of publication: New York

    Country of publication: United States, New York

    Publication subject: Business And Economics

    Source type: Wire Feed

    Language of publication: English

    Document type: News

    ProQuest document ID: 2665472366

    Document URL: https://www.proquest.com/wire-feeds/healthcare-analytics-market-size-share-amp-


    trends/docview/2665472366/se-2?accountid=49732

    Copyright: GlobeNewswire, Inc.

    Last updated: 2023-10-31

    PDF GENERATED BY PROQUEST.COM Page 3 of 4


    Database: ABI/INFORM Collection

    Database copyright  2023 ProQuest LLC. All rights reserved.

    Terms and Conditions Contact ProQuest

    PDF GENERATED BY PROQUEST.COM Page 4 of 4

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