The global healthcare analytics market size is anticipated to reach USD 80.21 billion by 2026, exhibiting a CAGR of 27.5% during the forecast period. Healthcare analytics involves analyzing historical and current industrial data to effectively manage clinical data and patient’s diagnosis, forecast trends, and improve business. It is anticipated to revolutionize the functioning of healthcare organizations in the forthcoming years. Fortune Business Insights™ has presented this information in an upcoming report titled, “Healthcare Analytics Market, 2019-2026”. The market size stood at USD 11.59 billion in 2018.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/healthcare-analytics-market-102641
Several factors are expected to bolster the market growth. For instance, rising awareness of personalized medicines and the growing genomics market is expected to expand the healthcare analytics market growth.
COVID-19 Impact-
The global pandemic has stagnated the growth of several markets and industries. Healthcare systems are on the verge of collapsing in many nations. However, the coronavirus pandemic has augmented the healthcare analytics market share due to the grave need for effective vaccine development and the continuous monitoring of the coronavirus. Investments in the research activities, the utilization of big data, and Internet of Things (IoT), etc., for developing effective COVID-19 treatment are augmenting the market growth. For instance, IBM and Oracle introduced block-chain to assimilate Covid-19 data from the World Health Organization in 2020.
North America to Account for the Highest Growth
North America is anticipated to witness the highest growth in the forecast period. The growth is attributable to the presence of key industry players, a thriving healthcare industry, wide adoption of EHRs, rising venture capital investments, and development of advanced technologies.
Europe is anticipated to hold the second-largest market share.