Asia Pacific Healthcare Analytics Market Size, Share & Industry Trends Analysis Report By Component (Services, Software, and Hardware), By Type, By End-user, By Deployment Model, By Application, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Healthcare Analytics Market would witness market growth of 29.5% CAGR during the forecast period (2021-2027).
The increasing use of analytical solutions in the sector, such as the creation of databases and historical patterns using descriptive analysis, and the estimation of future market dynamics and outcomes utilizing predictive and prescriptive analysis, would impact the market growth. In addition, social media and the internet are having a huge impact on the healthcare business in terms of raising awareness and gathering data for patient engagement tactics. Moreover, the market for healthcare analytics is being driven by the increased demand to improve patient outcomes while lowering costs through the use of data analytics.
Healthcare analytics is continuing to transform the healthcare industry in a number of countries. In addition, the European Union has created a project dubbed "Bigmedilytics" that focuses on cost savings, patient improvement, and improved access to health networks. Apart from that, the adoption of connected devices that generate massive amounts of data is predicted to skyrocket; this raw data may then be processed to help businesses make better decisions. The number of active IoT connections in healthcare would be 10.34 million by 2025, according to ETNO. The demand for data analytics and technologies to get data-driven insights into the sector is increasing as a result of this increase.
With the introduction of digital devices such as the Internet of Things (IoT) and applications that are increasingly becoming a part of the European healthcare system, numerous government initiatives to endorse and incentivize the adoption of technological solutions in healthcare are driving up demand for data analytics.
The China market dominated the Asia Pacific Healthcare Analytics Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6,920.7 million by 2027. The Japan market is exhibiting a CAGR of 28.7% during (2021 - 2027). Additionally, The India market would experience a CAGR of 30.3% during (2021 - 2027).
Based on Component, the market is segmented into Services, Software, and Hardware. Based on Type, the market is segmented into Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, and Cognitive Analytics. Based on End-user, the market is segmented into Life science Companies, Healthcare Payers, and Healthcare Providers. Based on Deployment Model, the market is segmented into On-premise and On-demand. Based on Application, the market is segmented into Financial Analytics, Clinical Analytics, Operation & Administrative Analytics, and Population Health. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Verisk Analytics, Inc., IQVIA Holdings, Inc., AllScripts Healthcare Solutions, Inc., McKesson Corporation, UnitedHealth Group, Inc. (Optum, Inc.), Health Catalyst, Inc., Cerner Corporation, and SAS Institute, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Cognitive Analytics
- Life science Companies
- Healthcare Payers
- Healthcare Providers
By Deployment Model
- Financial Analytics
- Clinical Analytics
- Operation & Administrative Analytics
- Population Health
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Oracle Corporation
- Verisk Analytics, Inc.
- IQVIA Holdings, Inc.
- AllScripts Healthcare Solutions, Inc.
- McKesson Corporation
- UnitedHealth Group, Inc. (Optum, Inc.)
- Health Catalyst, Inc.
- Cerner Corporation
- SAS Institute, Inc.
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