Asia-Pacific Healthcare Analytics Market, By Type (Prescriptive Analytics, Predictive Analytics, Descriptive Analytics), Component (Services, Software, Hardware), Delivery Model (On-Demand, On-Premise), Application (Clinical Analytics, Population Health Analytics, Operational and Administrative Analytics, Financial Analytics), End User (Healthcare Payers, Healthcare Providers and ACOS, HIES, MCOS, AND TPAS), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific)- Industry Trends and Forecast to 2028.
The healthcare analytics market is expected to witness market growth at a rate of 17.0% in the forecast period of 2021 to 2028. Data Bridge Market Research report on healthcare analytics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in healthcare sector globally is escalating the growth of healthcare analytics market.
Healthcare Analytics, also called clinical data analytics, refers to the branch of analysis that offers insights into hospital management, diagnosis and patient records, and provides insights on macro and micro levels. These analytics help in offering real-time data that can help in deciding the course of future treatment of the patient.
The increase in government initiatives to increase EHR adoption acts as one of the major factors driving the growth of healthcare analytics market. The rise in amount of complex data owning to the transition from written to electronic health records and its ability to improve physician practice, and surge in healthcare costs due to growing portfolio of healthcare services accelerate the market growth. The increase in adoption of healthcare analytic solutions, especially predictive analytics to actively identify individuals that are at greater health risk, and surge in pressure to curb healthcare spending further influence the market. Additionally, surge in healthcare expenditure, development in the healthcare infrastructure, and rise in venture capital investments positively affects the healthcare analytics market. Furthermore, rise in demand for cloud-based analytics and use of analytics in precision and personalized medicine extend profitable opportunity to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the analytics solutions and concerns regarding inaccurate and inconsistent data are expected to obstruct the market growth. Reluctance to adopt healthcare analytics solutions in emerging countries and issues with data integration are projected to challenge the healthcare analytics market in the forecast period of 2021-2028.
This healthcare analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on healthcare analytics market Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Healthcare Analytics Market Scope and Market Size
The healthcare analytics market is segmented on the basis of type, component, delivery model, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the healthcare analytics market is segmented into predictive analytics, descriptive analytics and prescriptive analytics.
- On the basis of component, the healthcare analytics market is segmented into software, hardware and services. The services segment is sub-segmented into support services and business analytics services.
- On the basis of delivery model, the healthcare analytics market is segmented into on-demand and on-premise.
On the basis of application, the healthcare analytics market is segmented into clinical analytics, financial analytics, operational and administrative analytics and population health analytics. The clinical analytics segment is sub-segmented into quality improvement and clinical benchmarking, clinical decision support, regulatory reporting and compliance, comparative analytics/ effectiveness and precision health. The financial analytics segment is sub-segmented into claims processing, revenue cycle management (RCM), payment integrity and fraud, waste, and abuse (FWA) and risk adjustment and risk assessment. The operational and administrative analytics segment is sub-segmented into supply chain analytics, workforce analytics, enterprise performance, supply chain analytics, market intelligence, research analytics and strategic analytics. The population health analytics segment is sub-segmented into population risk management, population care management, patient engagement, clinical outcome management and activity-based costing.
On the basis of end user, the healthcare analytics market is segmented into healthcare payers, healthcare providers and ACOS, HIES, MCOS, and TPAS. The healthcare payers segment is sub-segmented into government agencies, private insurance companies and employers and private exchanges. The healthcare providers segment is sub-segmented into post-acute care organizations, hospitals, physician practices, and IDNS and ambulatory settings.
Asia-Pacific Healthcare Analytics Market Country Level Analysis
The healthcare analytics market is analyzed and market size insights and trends are provided by country, type, component, delivery model, application and end user as referenced above.
The countries covered in the Asia-Pacific healthcare analytics market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan dominates the Asia-Pacific healthcare analytics market owning to the technological advancements in the region. China is expected to witness high growth during the forecast period of 2021 to 2028 because of the growing demand for advanced stents.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
Asia-Pacific healthcare analytics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Asia-Pacific healthcare analytics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Asia-Pacific healthcare analytics market. The data is available for historic period 2010-2019.
Competitive Landscape and Asia-Pacific Healthcare Analytics Market Share Analysis
The healthcare analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to healthcare analytics market.
The major players covered in the healthcare analytics market report are IBM, Wipro Limited, Allscripts, Cerner Corporation, Health Catalyst, Inovalon, McKesson Corporation, MEDEANALYTICS, INC., Optum, Inc., Oracle, SAS Institute Inc., SCIOInspire, Corp., Verscend Technologies Pvt. Ltd, CitiusTech Inc. Vitreos Health, Ikon Tech IQVIA, and GENERAL ELECTRIC, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.