The Healthcare Analytics Market is being driven by Growing integration of Big Data with healthcare analytics
The Healthcare Analytics Market is expected to grow at a CAGR of 25% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 81278.8 million. In today's digital age, mobile devices have become an essential tool in the healthcare industry, revolutionizing communication between healthcare providers and patients. These Internet-enabled handheld devices enable stakeholders to exchange e-notifications, data files, and meeting alerts, ensuring real-time coordination and updates. Patients can instantly connect with healthcare professionals to clarify dosage queries or any other concerns. Hospitals leverage automated messaging to send reminders about follow-up appointments and doctor availability, enhancing patient engagement and care.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
208 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 25% |
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Market growth 2025-2029 |
USD 81278.8 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
21.7 |
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Key countries |
US, Canada, India, UK, China, South Korea, Germany, Japan, France, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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In the healthcare sector, Digital solutions like Change Healthcare and Health Data Analytics are revolutionizing patient care through advanced analytics. EHRs are used to collect clinical data for Descriptive Analytics, which provides insights into patient treatment histories. Predictive Analytics utilizes this data to forecast treatment costs and patient compliance, while Prescriptive Analytics suggests optimal therapeutic strategies for consistent, high-quality clinical care. Financial Analytics focuses on cost management, while NIH funds research into AI-driven Disease Management and outreach programs. These analytics enhance clinical care, medication selection, and disease management, ultimately leading to better patient outcomes.
The Healthcare Analytics Market, a segment of the larger IT system software industry, encompasses organizations specializing in Electronic Health Records (EHR), Descriptive, Predictive, Prescriptive, Financial, and Clinical analytics solutions. These companies develop and produce application and systems software, including database management systems, to enhance healthcare data analysis and decision-making processes. The global market size is determined by aggregating the revenues of these entities, providing both on-premises and cloud-based software solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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