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Healthcare Analytics Market Size, Share, Trends Analysis & Industry Growth Report, 2020-2027

Healthcare Analytics Market Size, Share, Trends Analysis & Industry Growth Report, 2020-2027

Global Healthcare Analytics Market

According to the GMI Research report, the Healthcare Analytics Market will proliferate at a faster rate over the forecast period. This is because of the surging managerial requirement and the augmenting espousal of healthcare analytics.

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Healthcare Analytics Market Dynamics

The surging incidence of chronic diseases and the rising espousal of sales and marketing are some of the major factors supplementing the growth of the global healthcare analytics market. A report published by the World Bank stated that there has been a substantial rise in the prevalence of chronic diseases, primarily across the emerging nations, due to, malnutrition, alcohol consumption, less physical activity, subjection to environmental pollution, and unhealthy dietary habits. Further, as per a study conducted by IDF, there were nearly 56.3 million European adults suffering diabetes, which counted to 8.5% of the overall adult population of the region. This number is anticipated to rise to 68.9 million by 2035. The widespread coronavirus pandemic has further encouraged the espousal of these solutions. The WHO Coronavirus dashboard represents approximately 116 million confirmed cases of COVID-19 as on 8 March 2021, with nearly 2 million deaths throughout the nation. This rising number of COVID-19 cases has persuaded individuals and healthcare organizations to acquire the healthcare analytics solution.

Besides this, the global healthcare analytics market forecast projects that the notable switch from volume to value-based care will further elevate the market growth. The augmenting funding and allowances to the healthcare technology organisations for the innovation of mHealth apps and encourage the application of big data and IoT in other solutions will further contribute to the market growth. For example, IBM and Oracle, in 2020, initiated blockchain to incorporate the data about COVID-19 from the CDC and WHO leaving a positive impact on the market growth.

In parallel, as per the healthcare analytics market forecast, storage and interpretation of raw data demands there skilled which is a major factor restraining the market growth. The insufficient knowledge, expertise, and experience required to work in the data analytics field will further curb the market growth.

About GMI Research

GMI Research is a guiding market research and consulting organisation entrusted by some prime organisations for their competitive and market intelligence needs. The main emphasis of our organisation is to help clients handle the most serious business challenges.    

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