PUNE, India, July 10, 2019 /PRNewswire/ — In terms of revenue, the shifting healthcare business intelligence market was valued at US$ 7.64 billion and is anticipated to reach US$ 64.66 billion by 2027, growing at the CAGR of 26.7% over the forecasted period. There has been continuous increase in demand for analytics from the healthcare industry. This demand has been prominent among care providers which include hospitals, clinics, pharmacies and rehabilitation centers amongst others. These care providers are striving to enhance their operations and service quality in order to ensure sustained growth for the future and gain competitive advantage.
Increasing emphasis on regulatory changes from governing authorities across the world has led healthcare industry participants to strategize their operations accordingly. The regulations pertaining to clinical and financial procedures are the focus areas for governing authorities. As a result, these application areas are witnessing adoption of advanced/shifting healthcare business intelligence solutions.
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Unavailability of funds and lack of resources can critically impact the shifting healthcare business intelligence market as transition to a complex technology requires significant amount of initial funding. Such complex systems require availability of advanced infrastructure including fast computing machines, advanced medical equipment, data warehouses and others. This limits the adoption of the technology among small sized service providers.
The detailed research study provides qualitative and quantitative analysis of shifting healthcare business intelligence market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Global Shifting Healthcare Business Intelligence Market Share in 2018, By Region
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Key Finding of the Report:
- In terms of revenue, global shifting healthcare business intelligence market is expected to reach US$ 64.66 billion by 2027, growing at an estimated CAGR of 26.7% over the forecast period.
- Financial analysis application segment held the largest market share and is expected to grow at the CAGR of 27.7% over the estimated period as the demand for sophisticated revenue cycle management solution is rising, enabling healthcare providers to track all the activities of patients starting from registration and appointment scheduling to the final payment of a balance.
- Cloud based deployment model is expected to grow at the CAGR of 34.3% over the next eight years as the model minimizes maintenance and upkeep costs.
- Asia Pacific region is expected to grow at a lucrative pace during the forecasted period at an estimated CAGR of 27.7% between 2019-2027, owing to increasing FDI in the emerging economies.
- Some of the key players operating in shifting healthcare business intelligence market are IBM Corporation, Microsoft, Change Healthcare Inc., Oracle Corporation, SAS institute Inc., Kaufman, Hall & Associates, Inc., and SAP SE amongst others.
Shifting Healthcare Business Intelligence Market:
- Financial Analysis
- Claims Processing
- Revenue Cycle Management
- Risk Adjustment and Risk Assessment
- Payment Management
- Clinical Analysis,
- Quality Improvement and Clinical Benchmarking
- Clinical Decision Support
- Regulatory Reporting and Compliance
- Comparative Analytics/Effectiveness,
- Precision Health
- Operational Analysis
- Inventory Analysis
- Workforce Analysis
- Strategic Analysis
- Predictive Analysis
- Presceptive Analysis
- Descriptive Analysis
- On Premise
- Cloud Based
By End User
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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SOURCE Absolute Markets Insights