The global healthcare/medical analytics market is expected to reach USD 53.65 billion by 2025, according to a new report by Grand View Research, Inc. Increasing need to reduce healthcare expenditure among hospitals, and other healthcare providers is anticipated to boost growth in the market.
With the advent of data-enriched tools such as mHealth, eHealth, Electronic Health Records (EHR), and mobile applications, the communication gap between caregivers and patients has reduced. These tools generate tremendous data, which can be used for personalized treatments.
Generally, patients may hesitate to use these tools, which might affect the implementation of analytics. However, with the combination of artificial and human intelligence data analytics, which offer wide opportunities to further customize medical approaches, the demand for these tools is anticipated to increase over the forecast period.
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Hospitals are now using healthcare analytics to manage the number of workers working in a particular shift, for instance, a hospital in Paris uses healthcare analytics to predict the number of patients that may be hospitalized. This data can be used to decide the number of staff members that will be needed for a particular shift, which helps in reducing labor cost in hospitals.
Further key findings from the study suggest:
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Grand View Research has segmented the global healthcare/medical analytics market on the basis of type, component, delivery mode, application, end-use and region:
Type Outlook (Revenue, USD Million; 2014 – 2025)
Component Outlook (Revenue, USD Million; 2014 – 2025)
Delivery Mode Outlook (Revenue, USD Million; 2014 – 2025)
Application Outlook (Revenue, USD Million; 2014 – 2025)
End-use Outlook (Revenue, USD Million; 2014 – 2025)
Regional Outlook (Revenue, USD Million; 2014 – 2025)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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