The global healthcare analytics market is expected to reach $18.7 Billion by 2020 from $5.8 Billion in 2015, according to a new market research report by MarketsandMarkets. Among end users, the healthcare providers segment is expected to grow at the highest CAGR during this forecast period. The demand in this market is highly driven by federal mandates such as the implementation of EHRs and ICD-10 code sets, shift towards value-based medicine, and the increased focus on quality care and reduced costs are propelling the growth of this segment. However, the operational gap between payers and providers, a lack of skilled personnel, high cost of analytics solutions, and language and cultural barriers may restrict market growth.
In 2015, North America is expected to dominate the healthcare analytics market and grow at the highest CAGR. The high growth of this region is attributed to federal healthcare mandates encouraging the adoption of HCIT solutions; strong government support; significant venture capital investments for analytics; and the rising focus on population health management, among others.
Key market players include:
– IBM Corporation
– SAS Institute, Inc.
– Optum, Inc.
– Truven Health Analytics Inc.
– Cerner Corporation
– McKesson Corporation
– Verisk Analytics, Inc.
– Oracle Corporation
– Allscripts Health Solutions
– MedeAnalytics
– Inovalon, Inc.
– Health Catalyst
For more information, view the full report here.
