Infinium Global Research Healthcare Analytics Market | Page 2

A latest report has been added to the wide database of Healthcare Analytics Market by Infinium Global Research. This report
studies the Healthcare Analytics Market by product (descriptive, prescriptive and predictive), application (financial analytics,
operational analytics, population health analytics and clinical analytics), end users (physicians, clinics, hospitals and others)
market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is
to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years.
Healthcare Analytics Market provides opportunities in micro markets for stakeholders to invest along with the detailed
analysis of competitive landscape, latest trends, and product offerings of the major companies in the Healthcare Analytics
Market. According to the report the Global Healthcare Analytics Market is projected to grow at a CAGR of 12.5% in terms of
value over the period of 2017-2023.
Market Insights
Currently, the global healthcare industry is experiencing fundamental transformation to a value based business from a volume
based business. With the increasing demand from consumers for improved healthcare quality and enhanced value, the
healthcare providers and payers around the world are challenged by reduction of costs, improve better outcomes, provide
more with less and be more patient centric. Similarly, the cost dynamics of the healthcare industry are changing drastically,
which is mainly driven by the prevalence of chronic and infectious diseases, and defensive medicine practices. Large number
of new market entrants and innovative healthcare approaches to deliver the treatments is increasing the complexity and
competition. As a result, the healthcare industry is becoming more and more complex over the next few years. This immense
complexity could challenge the global healthcare industry implementing smarter and more informed decisions, to deliver
better value and improved outcomes. In addition, the increasing regulatory presence of government creates additional focus
on accountability, governance and oversight on the industry.
Market dynamics and competitive pressures require enhanced understanding of underlying trends and a path to
differentiation. Building analytics competency will enable the healthcare organizations to deliver better outcomes, set their
future vision and create actionable insights. Analytics can improve effectiveness and efficiency. From managing small issues to
larger processes, these analytics can aid assessment and discovery of innovative insights, which ultimately help design and
plan policy, improve service delivery operations, enhance sustainability, mitigate risk and evaluating critical organizational
data. Some of the restraining factors that could hinder the growth of the market include data breach or security issues,
technological and cultural barriers at the data source point, confidentiality issues and lack of skilled personnel across the
globe. In addition, associated break points in creating global healthcare analytics network due to fragmented international
political and economic relations may also pose a major threat towards the growth of the healthcare analytics market.