What has been a notable recent development in the healthcare IT market? In 2018, this sector was worth $8.45 trillion, with an annual growth rate of 7.3% since 2014. In the rush to contain COVID-19, market players are rapidly developing artificial intelligence and data analytics in healthcare, paving the way for the future of the technologies. - 201) 12.1 INTRODUCTION 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 12.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN THE HEALTHCARE ANALYTICS MARKET 12.3 MARKET RANKING ANALYSIS FIGURE 29 IBM WAS THE LEADING PLAYER IN THE HEALTHCARE ANALYTICS MARKET IN 2020 12.4 COMPANY EVALUATION MATRIX 12.4.1 COMPANY EVALUATION MATRIX: HEALTHCARE ANALYTICS MARKET 12.4.1.1 Stars 12.4.1.2 Pervasive players 12.4.1.3 Emerging leaders 12.4.1.4 Participants 12.4.1.5 Competitive benchmarking 12.4.1.5.1 Overall footprint of companies (20 companies) TABLE 245 SERVICE FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 246 END-USER FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 247 REGIONAL FOOTPRINT OF COMPANIES (20 COMPANIES) 12.5 COMPETITIVE SITUATIONS AND TRENDS 12.5.1 PRODUCT/SERVICE LAUNCHES & APPROVALS TABLE 248 PRODUCT/SERVICE LAUNCHES (JANUARY 2018 TO AUGUST 2021) 12.5.2 DEALS TABLE 249 DEALS (JANUARY 2018 TO AUGUST 2021). The global healthcare services market is expected to decline from $7102.7 billion in 2019 to $6657.1 billion in 2020 at a compound annual growth rate (CAGR) of -6.3%. World Health Organization (WHO) Organisation for Economic Co-operation and Development (OECD), World Analytics Association, Healthcare Data & Analytics Association (HDAA), Health Information and Management Systems Society (HIMSS), International Medical Informatics Association (IMIA), Centers for Medicare & Medicaid Services (CMS), National Association of Health Data Organizations (NAHDO), American Health Information Management Association (AHIMA), Association of Healthcare Providers (AHPI), Canadian Institute for Health Information (CIHI), Canadian Health Care Anti-Fraud Association (CHCAA), Annual Reports, SEC Filings, Investor Presentations, Journals, Publications from Government Sources and Professional Associations, Expert Interviews, and MarketsandMarkets Analysis. See for yourself... We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. - 91) 9.1 INTRODUCTION TABLE 19 HEALTHCARE ANALYTICS MARKET, BY APPLICATION, 20192026 (USD MILLION) 9.2 FINANCIAL ANALYTICS TABLE 20 COMMERCIALLY AVAILABLE FINANCIAL ANALYTICS SOLUTIONS TABLE 21 FINANCIAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 22 FINANCIAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.2.1 CLAIMS PROCESSING 9.2.1.1 Need to improve claims response time and avoid fraudulent claims will support the use of analytics tools TABLE 23 COMMERCIALLY AVAILABLE CLAIMS PROCESSING SOLUTIONS TABLE 24 CLAIMS PROCESSING MARKET, BY REGION, 20192026 (USD MILLION) 9.2.2 REVENUE CYCLE MANAGEMENT 9.2.2.1 Healthcare organizations are rapidly adopting predictive analytics solutions for proactive decision-making TABLE 25 COMMERCIALLY AVAILABLE RCM SOLUTIONS TABLE 26 REVENUE CYCLE MANAGEMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.2.3 PAYMENT INTEGRITY & FRAUD, WASTE, AND ABUSE 9.2.3.1 Implementation of ICD-10 code sets and adoption of fee-for-value systems will drive market growth TABLE 27 COMMERCIALLY AVAILABLE PAYMENT INTEGRITY & FWA SOLUTIONS TABLE 28 PAYMENT INTEGRITY & FWA MARKET, BY REGION, 20192026 (USD MILLION) 9.2.4 RISK ADJUSTMENT & ASSESSMENT 9.2.4.1 Risk adjustment & assessment allow for optimization of cash flows and improved financial performance TABLE 29 COMMERCIALLY AVAILABLE RISK ADJUSTMENT & ASSESSMENT SOLUTIONS TABLE 30 RISK ADJUSTMENT & ASSESSMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.3 CLINICAL ANALYTICS TABLE 31 COMMERCIALLY AVAILABLE CLINICAL ANALYTICS SOLUTIONS TABLE 32 CLINICAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 33 CLINICAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.1 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING 9.3.1.1 Benchmarking allows for the identification of issues that are negatively impacting healthcare systems TABLE 34 COMMERCIALLY AVAILABLE QUALITY IMPROVEMENT & CLINICAL BENCHMARKING SOLUTIONS TABLE 35 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING MARKET, BY REGION, 20192026 (USD MILLION) 9.3.2 CLINICAL DECISION SUPPORT 9.3.2.1 Predictive clinical analytics reduce medical errors and ensure that appropriate tests are performed, a key factor for market growth TABLE 36 COMMERCIALLY AVAILABLE SOLUTIONS FOR CDS TABLE 37 CLINICAL DECISION SUPPORT MARKET, BY REGION, 20192026 (USD MILLION) 9.3.3 REPORTING & COMPLIANCE 9.3.3.1 Stringent regulatory requirements have led to the need for reporting & compliance solutions TABLE 38 REPORTING & COMPLIANCE MARKET, BY REGION, 20192026 (USD MILLION) 9.3.4 COMPARATIVE ANALYTICS/EFFECTIVENESS 9.3.4.1 Growing adoption of EHRs to provide significant growth opportunities TABLE 39 COMMERCIALLY AVAILABLE COMPARATIVE ANALYTICS/EFFECTIVENESS SOLUTIONS TABLE 40 COMPARATIVE ANALYTICS/EFFECTIVENESS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.5 PRECISION HEALTH 9.3.5.1 Strong government support for personalized medicine is likely to drive market growth TABLE 41 COMMERCIALLY AVAILABLE PRECISION HEALTH SOLUTIONS TABLE 42 PRECISION HEALTH MARKET, BY REGION, 20192026 (USD MILLION) 9.3.6 MEDICAL IMAGING ANALYTICS 9.3.6.1 Imaging analytics aided by artificial intelligence and machine learning is rapidly expanding within the healthcare IT industry TABLE 43 MEDICAL IMAGING ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4 OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 44 COMMERCIALLY AVAILABLE SOLUTIONS FOR OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 45 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 46 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.1 SUPPLY CHAIN ANALYTICS 9.4.1.1 The growing requirement to reduce healthcare costs will increase the adoption of supply chain analytics solutions TABLE 47 COMMERCIALLY AVAILABLE SUPPLY CHAIN ANALYTICS SOLUTIONS TABLE 48 SUPPLY CHAIN ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.2 WORKFORCE ANALYTICS 9.4.2.1 Need for real-time resource demand and supply data to drive the adoption of workforce analytics solutions TABLE 49 COMMERCIALLY AVAILABLE WORKFORCE ANALYTICS SOLUTIONS TABLE 50 WORKFORCE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.3 STRATEGIC ANALYTICS 9.4.3.1 Strategic analytics uses advanced analytics tools to leverage operational and usage data, a key advantage TABLE 51 STRATEGIC ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.5 POPULATION HEALTH ANALYTICS 9.5.1 POPULATION HEALTH ANALYTICS IMPROVES POPULATION HEALTH OUTCOMES AND LOWERS COSTS, A KEY FACTOR FOR MARKET GROWTH TABLE 52 COMMERCIALLY AVAILABLE POPULATION HEALTH ANALYTICS SOLUTIONS TABLE 53 POPULATION HEALTH ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION), 10 HEALTHCARE ANALYTICS MARKET, BY END USER (Page No. This is attributable to the rising demand for integrated information systems in the field of healthcare IT, faster accessibility, and low maintenance cost. 1. Which segment is anticipated to be the fastest-growing application segment in the healthcare IT market till 2028? The segment is projected to expand at a steady CAGR from 2021 to 2028 due to the growing awareness and adoption of EHR in healthcare facilities, strategic initiatives by various players in the market, and an increasing number of initiatives supporting its implementation. The global healthcare market reached a value of nearly $8,452 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.3% since 2014, and is expected to grow at a CAGR of 8.9% to . The market data displayed in the report helps to make out different market opportunities present internationally. The global healthcare IT market is expected to grow at a compound annual growth rate of 10.7% from 2021 till 2028 to reach USD 166.0 billion by 2028. b. The global pharmaceuticals market was worth $934.8 billion in 2017 and will reach $1170 billion in 2021, growing at 5.8%, according to a recent pharma market research report by The Business Research Company.. The global healthcare information technology (IT) market size was valued at $250,577.15 million in 2020, and is projected to reach $880,688.75 million by 2030, registering a CAGR of 13.3% from 2021 to 2030. The predictive analytics segment is anticipated to witness lucrative CAGR over the forecast period. [474 Pages Report] The global healthcare IT market is projected to reach USD 829.2 billion by 2026 from USD 319.2 billion in 2021, at a CAGR of 21.0% during the forecast period.The growth in the healthcare IT market is mainly driven by government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with healthcare IT . This makes it challenging for hospitals to justify their spending on analytics solutions, at least in the short term when they are focused on implementing EHRs and upgrading RCM systems. © 2021. In Southeast Asia alone, the rate of those over the age of 65 is projected to triple between 2016 and 2050. Complimentary 10 hours free analyst time for market review, 3. Their preferences are driving the development of digitally enabled, on-demand, and seamlessly connected clinician-patient interactions. Found inside – Page 89The unemployment rate is 10.7%. The Indian pharmaceutical market has grown rapidly in the past few years and the federal government uses price controls to ensure that vital drugs are available to the general population (CIA, 2011b). The global health industry is growing at an impressive rate, according to the recent healthcare industry statistics. Technological advancements, with respect to healthcare, for improving the IT infrastructure, such as the implementation of AI, IoT, and big data in healthcare processes, are also fueling the market growth. The substantial growth avenues in the region can be attributed to the presence of several prominent players in the region. High demand and adoption of preventive care along with increasing funding for various mobile health startups is advancing the market growth. Value-based medicine is redefining healthcare and capturing results-oriented data and making it usable. The growing popularity of the spa industry in the health and wellness trend expanded its revenue to $18 billion in 2020 . Your payment is successful. Found inside – Page 44The healthcare industry is certainly poised for major growth, thanks to the enabling technologies like IoT and ... The next generation healthcare system will provide cost-effective and improved services while introducing a number of new ... Found inside – Page xixThe Indian government is taking many fiscal and monetary measures to minimize the health and economic impact of the ... Due to a robust policy response , the Indian economy is expected to post an economic growth rate of 11 % in 2021 ... Technological advances facilitating information sharing and improved compliance to Health Insurance Portability and Accountability Act (HIPAA) are expected to accelerate the business growth. Their needs and goals are driving innovation in health-related products, services, and tools. Trending Ipo Market In India. Found inside – Page 104According to figures from the Industrial Technology Research Institute of Taiwan (ITRI), the global healthcare equipment industry is growing at an annual compound rate of 6.12% and is projected to reach a size of US$247.5 billion by ... b. E-prescribing system is anticipated to be the fastest-growing application segment in the healthcare IT market till 2028, on account of the growing demand for improved patient care and reduction in the occurrence of medical and prescribing errors. This is a multi-faceted partnership with private healthcare companies to incorporate Enlitics solutions in GCC countries. Many private and public institutions have already moved to the wave of IT adoption by fully digitizing their entire enterprise. Dacryocystitis Treatment Market Growth Rate, Regional Synopsis, Industry Outlook 2030 September 13, 2021 Press Offfice Business 0 The Global Dacryocystitis Treatment market study provides critical information related to the global, regional and top players including Dacryocystitis Treatment market share analysis, winning strategies, recent . The Healthcare Hyperspectral Imaging (HSI) Systems Market study offers a thought-out study of the investors, stakeholders, players, and new entrants. 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