Research Nester released a report titled “Patient Data Analytics Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global patient data analytics market in terms of market segmentation by product type, application, deployment type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global patient data analytics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. Patient data analytics increase accuracy of treatment increases efficiency, and reduce costs and time; which in turn are expected to attribute to the market growth in the coming years. In addition, increasing concerns of government and non-government organizations on cutting down healthcare expenditure and growing awareness about personalized medicines are also projected to fuel market growth.
The market is segmented on the basis of by product type, application, and deployment type. Based on product type, the descriptive segment is anticipated to hold the largest market share as it forms the base for application of prescriptive and predictive analytics. Moreover, by application, the financial management segment is expected to acquire a notable share in the market owing to the escalating adoption of analytics to detect and prevent healthcare fraud.
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Regionally, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing number of government initiatives to reduce healthcare costs in the region. Furthermore, North America is evaluated to occupy the largest market share during the forecast period ascribing to the presence of highly established healthcare infrastructure and widespread adoption of electronic healthcare records.
Rapid Technological Advancements in the Medical Sector to Drive Market Growth
Technological advancements facilitating information sharing and improved patient’s data confidentiality standards are widely being adopted over the last few years, such as the growing involvement of electronic health records (EHR). This in turn is predicted to boost the market growth in the near future.
However, data safety issues regarding patient data analytics and absence of IT professionals in healthcare industry are estimated to restrain market growth in the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global patient data analytics market which includes company profiling of IBM Corporation, Allscripts Healthcare Solutions Inc., Cerner Corporation, McKesson Corporation, Optum, Inc., CitiusTech Inc., Health Catalyst, Inc., Inovalon, Inc., MedeAnalytics, Inc., Oracle Corporation, SAS Institute Inc., SCIOInspire, Corp., Verscend Technologies, Inc., VitreosHealth, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the global patient data analytics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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