Healthcare Predictive Analytics Market is Expected to Grow with a CAGR of 27% from 2022 To 2028
As stated in our extensive report, providing insights on Application, Product, Mode of Delivery and End-user; the global Market accounted for USD 20.16 Billion in 2021.
Predictive analytics is an advanced methodology, basically used to improve patient outcomes. Machine learning algorithms has been used to provide an exact plan of action to the patient by looking into their past data and outcomes. This will help in providing proper treatment to the current patients. It is also used to give warning signs before conditions become severe.
Factors such as growing demand to curtail healthcare costs, increasing efficiency in the healthcare sector, and development of personalized & evidence-based medicine are expected to bolster the growth of Market in upcoming years.
Various biotech and pharmaceutical companies are dependent on healthcare predictive analytics techniques to give effective clinical treatments. Many healthcare companies such as Komodo Health, GNS Healthcare, NextGen Healthcare, and Flatiron Health provides advanced technology that gives accurate & quick diagnosis result at the time of treatment. These analytics provides various advantages for adopting electronic health services. These services are used to manage patient records and provide accurate outcomes, thus, increasing the demand for the Market. These analytics are also used to reduce the incidence of costly readmissions. All these factors are responsible for fuelling the growth of the Market in the upcoming years.
The major issue in the healthcare sector is nothing but a lack of robust infrastructure. Various healthcare organizations are still facing the limitation of the provision of healthcare IT infrastructure in various countries. These organizations require the correct labor to implement the new technology in this industry. Therefore lack of robust infrastructure of healthcare sector and availability of limited skilled IT professionals in the healthcare department is responsible for limiting the growth of Market.
Asia Pacific is expected to witness the fastest growth of the Market during the forecast period. Factors such as, the availability of quick healthcare services, technological advancements, and rising focus on PHM are expected to influence the growth of Market in the region. In addition, the enforcement of federal health regulations to encourage the development of healthcare IT solutions in the region is expected to augment the growth of the Market in the upcoming years.
Some of the prominent players operating in the global Market are Cerner Corporation, Information Builders Inc., International Business Machines Corporation (IBM), Oracle Corporation, Health Catalyst are the major companies operating in Healthcare Predictive Analytics Market., Health Catalyst are the major companies operating in Healthcare Predictive Analytics Market..
Browse the full Report - Healthcare Predictive Analytics Market by Application (Operations Management, Financial, Population Health, Clinical), by End-Use (Quality Benchmarking, Patient Care Enhancement, Clinical Outcome Analysis and Management), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)