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Healthcare Analytics/Medical Analytics Market - Expected to Reach $29.8 Billion by 2022 - Research and Markets

[December 11, 2017]

Healthcare Analytics/Medical Analytics Market - Expected to Reach $29.8 Billion by 2022 - Research and Markets

The "Healthcare Analytics/Medical Analytics Market by Type, Application, Component, Delivery, and End User - Global Forecast to 2022" report has been added to Research and Markets' offering.

The healthcare analytics market is expected to reach USD 29.84 billion by 2022 from USD 8.92 billion in 2017, at a CAGR of 27.3%.

Increasing government initiatives to increase EHR adoption, growing pressure to curb healthcare costs, availability of big data in healthcare, increasing venture capital investments, rising focus on improving patient outcomes, and technological advancements are driving the growth of the healthcare analytics market. On the other hand, factors like the lack of skilled analysts (that limits the use of healthcare solutions), the high cost of these solutions, and operational gaps between payers and providers, are expected to limit the growth of this market to a certain extent.

By type, the healthcare analytics market is segmented into descriptive, predictive, and prescriptive analytics. The prescriptive analytics segment is expected grow at a highest CAGR during the forecast period. The high groth of this segment is attributed to the ability of prescriptive analytics to ensure the synergistic integration of predictions and prescriptions.

Based on application, the healthcare analytics market is segmented into clinical analytics, financial analytics, operational and administrative analytics, and population health analytics. Financial analytics market is segmented into revenue cycle management; claims processing; payment integrity and fraud, waste, & abuse (FWA); and risk adjustment and risk assessment. Due to the rising focus of payers on the early detection of fraud and reducing preventable costs, the market for fraud analytics is expected to register a significant growth during the forecast period, therefore driving the market for financial analytics.

Companies Mentioned