Albany NY, United States: The global healthcare predictive analytics market is anticipated to witness strong growth during the forecast period between 2021 and 2031.
Albany NY, United States: The global healthcare predictive analytics market is anticipated to witness strong growth during the forecast period between 2021 and 2031.
The increasing integration of predictive analytics with mainstream medical services is assisting healthcare professionals to identify patients who have a high chance of getting readmitted.
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The tool also helps to design personalized healthcare products that would help prevent the frequent readmission or medical visit of the same patient back to healthcare centers. Healthcare predictive analytics is a software tool, which helps in the diagnosis, prognosis, and treatment of various diseases.
The healthcare predictive analytics tool utilizes a patient’s medical history, genetics, risk factors, and environment to provide the best possible analysis of the patient’s medical conditions.
The COVID-19 pandemic has had a positive impact on the healthcare predictive analytics market since the tool has ensured patients can monitor their condition from home, without having to travel to a hospital or a clinic, thereby decreasing the chances of contracting the virus.
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Healthcare Predictive Analytics Market - Trends and Opportunities
A rising need to improve efficiency in the healthcare sector and the growing popularity of personalized medicines are expected to be the key growth drivers of the healthcare predictive analytics market.
In addition, it is anticipated that there would be an increased adoption of electronic health records, that could help in management of patient outcomes and this factor may help grow the healthcare predictive analytics market, in future.
The emergence and rise of technologies such as the Internet of Things and big data that are increasingly being integrated with healthcare systems could also fuel the growth in the healthcare predictive analytics market in the coming years.
There has been a growing pressure to reduce costs incurred in healthcare. The healthcare predictive analytics tool has proven effective in decreasing the number of unnecessary tests, which has helped reduce healthcare costs. This factor may positively impact the growth of the healthcare predictive analytics market, in the years to come.
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Healthcare Predictive Analytics Market - Competitive Landscape
The healthcare predictive analytics market comprises many well-established players, who are anticipated to account for a major share in the global healthcare predictive analytics market, in the coming years.
Prominent players in the healthcare predictive analytics market are expected to collaborate with small players in future and expand the market presence and improve their revenue share.
Keen market players are also anticipated to make heavy investments in research and development activities in a bid to produce an improved quality of products. The R&D undertakings have emerged as a key growth strategy for the healthcare predictive analytics market, in the last few years.
Some of the key players in the healthcare predictive analytics market include Cerner Corporation, IBM, Oracle, SAS, Wipro, and McKesson Corporation.
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Healthcare Predictive Analytics Market - Regional Assessment
North America is anticipated to be the leader in the global healthcare predictive analytics market in future. Countries such as the U.S are expected to play a key role in the growth and development of the healthcare predictive analytics market in future owing to the excellent healthcare infrastructure in the country.
Asia Pacific could stand second in the healthcare predictive analytics market in future since both the government and private investors are expected to play a key role in the growth of healthcare infrastructure in developing countries such as India and Indonesia, which could fuel the growth in the healthcare predictive analytics market.
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Europe could also witness strong growth in the healthcare predictive analytics market owing to improved healthcare infrastructure in countries such as Germany and the U.K.
Other regions such as Latin America and Middle East and Africa are expected to witness moderate growth in the overall healthcare predictive analytics market, in the coming years.
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