Health Analytics encompasses several technologies, methods, and skills used to synthesize and analyze health care data from a wide range of health industries, in order to disentangle trends and gain ideas for improving health care outcomes. The analysis of medical care has increasingly played a vital role in health systems around the world to improve patient outcomes and improve the quality of care at an affordable cost. Healthcare organizations around the world are increasingly taking advantage of the potential of data-driven decisions to improve patient engagement and experience. On the other hand, health care analysis provides health institutions with crucial knowledge about income and risk models.
Europe Healthcare Analytics Market size was around USD 2.68 billion in 2018. It is expected to grow at a CAGR of 26.52% to reach USD 8.68 billion by 2023.
Drivers and Restraints:
Incorporation of big analytics in the medical field, technological advancements, continuous government initiatives, high developed infrastructure, concerns about confidentiality of information, better quality outcomes. Restraints of the market are cultural barriers, dearth of skilled workforce and security issues.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Europe accounts to about 19% of the global healthcare analytics market in 2015 and is predicted to witness the highest growth rate in the forecast period.
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Major companies in the market are SAS Institute, Inc., Optum, Inc., IBM Corporation, Truven Health Analytics Inc., Cerner Corporation, Verisk Analytics, Inc., McKesson Corporation, Allscripts Health Solutions, Oracle Corporation, MedeAnalytics, Inovalon, Inc. and Health Catalyst.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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