The Global Healthcare analytics market is anticipated to grow at a CAGR of 25.41% owing to increasing adoption of IT in healthcare sector

Hyderabad, India -- (SBWire) -- 01/22/2018 --The report " Healthcare Analytics Market by Type - (Predictive Analytics, Descriptive/Retrospective Analytics and Prescriptive Analytics), by application – (Financial Analytics, Clinical Analytics, Operational & Administrative Analytics), by end-user – (public health systems, healthcare providers, private healthcare providers, Monitoring agencies, Health Insurance companies, Clinical and Medical research bodies, technology vendors) - Forecast to 2022", The Healthcare Analytics market is expected to reach USD 17.62 Billion by 2022 from an estimated USD 5.68 Billion in 2017, at a CAGR of 25.41%. The key factors such as increasing adoption of IT infrastructure, rising capital investments, increasing digitization and the integration and emergence of big data are the major drivers of market growth.

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By application, the financial analytics segment accounted for the largest share of the market in 2017
On the basis of type, the market is segmented into predictive analytics, descriptive/retrospective analytics and prescriptive analytics. By application it is segmented into Financial Analytics, Clinical Analytics, Operational & Administrative Analytics. The financial analytics segment accounted for the major market share in 2017 driven by the extensive and increasing use of these analytics for not only merging of patient data but also for majorly accounting for financial analytics.

On the basis of type of End Users, they are divided into public health systems, healthcare providers, private healthcare providers, Monitoring agencies, Health Insurance companies, Clinical and Medical research bodies, technology vendors. Amongst end users, the healthcare providers segment is anticipated to grow at the highest CAGR during the forecast period

North America dominated the market in 2017 accounting for more than 35 percent of the global market share.

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North America accounted for the largest share of the Healthcare Analytics market in 2017, followed by Europe. The large share of the European Healthcare Analytics market can be attributed to the growth in big data and the increasing demand for Healthcare Analytics to cater to the demand of the increasing populace about healthcare.

The various players in the Healthcare Analytics market include 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..

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