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    Asia Pacific Healthcare Analytics Market Forecast 2028 By Product (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics), By Application (Operations Management, Financial Management, Population Health Management, Clinical Management) By End-use (Hospitals, Clinics), Research Report, Country Outlook (China, India, Japan, Australia, South Korea, Malaysia, Indonesia, Thailand, Singapore, Philippines), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: March 2022   |   Report ID: GR2077   |   Delivery: PDF  Request Free Sample

    Asia Pacific Healthcare Analytics Market size valued at USD 2,230 million in 2021 and is set to observe around 18.6% growth rate from 2022 to 2028.

    Healthcare analytics refers to analysis of data using qualitative and quantitative techniques to be able to search for patterns and trends in the data. Healthcare analytics is used to upgrade many areas of clinical care such as disease prevention, patient management and adherence to clinical protocols.

    Asia Pacific Healthcare Analytics Market

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    The emergence of personalized or precision medicine in Asia Pacific region is expected to boost the market growth. The increasing collection of genomic data and their analysis for the development of personalized medicine will fuel the market demand. Moreover, increasing focus of precision medicines on patient risk assessment will complement the shift towards population health. Additionally, it will help the doctors to predict which treatment will work best for specific patient.

    Owing to the increasing portfolio of healthcare services, the cost of healthcare increases. Thus, there is a need for improving operational efficiencies and reducing expenses that will drive the healthcare analytics market growth. Moreover, rising amount of complex data owing to the transition from written to electronic health records (EHR) and its ability to enhance physician practice will augment the market revenue. Furthermore, rising interest of investors in analytical tools of healthcare coupled with technological advancements will foster the market growth.

    Asia Pacific Market, By Product

    The Asia Pacific healthcare analytics market from descriptive analytics segment will exhibit a CAGR of 17.5% during the forecast period. Descriptive analytics is used to convert raw data into interpretable data-driven insights that help professional to understand reasons behind past failure or success. Thus, it is the first step in converting big data into actionable insights.

    Moreover, majority of healthcare organizations which have electronic health record (EHR) systems installed also have some form of descriptive analytics in place. Also, descriptive analytics offer various benefits such as detecting errors or irregularities in insurance claims and assessing the member or patient population to gauge their performance.

    Asia Pacific Market, By Application

    In 2021, the financial management segment accounted for 32.4% Asia Pacific healthcare analytics market share. Financial management includes use of healthcare analytics for claim settlement, contract compliance, reimbursement compliance, revenue cycle management, fraud prevention, and risk assessment. Moreover, rising problem levels pertaining to claims denial and reimbursement will propel the industry growth.

    Asia Pacific Healthcare Analytics Market, By End-use

    The hospital segment revenue crossed USD 1666.7 million in 2021, as increasing operational complexities due to increasing influx of patients and multifunction nature of hospitals is leading to increasing adoption of healthcare IT solutions. Also, widespread implementation of EHR systems in these facilities will further fuel adoption rates. Furthermore, use of EHR and analytics software is most likely to increase in developing economies with improving healthcare sectors.

    Asia Pacific Market, By Country

    China healthcare analytics market will witness 19.4% to surpass USD 1,294.9 million revenue by 2028, owing to the increasing need of healthcare analytics solution among healthcare organizations to manage huge amount of patient’s data set. Moreover, high healthcare expenditure plays an important role in the adoption of the China market. Furthermore, the growth of personalized medicines favoring better healthcare outcomes along with reduction in unnecessary medical costs will further fuel the sales of healthcare analytical software and tools or devices in the country.

    Competitive Industry Landscape

    Prominent industry players include are Allscripts Healthcare Solution, Inc, McKesson Corporation, and IBM Corporation among others.

    Players undertake various strategies such as new product launch, mergers, acquisitions, collaborations, geographic expansions to strengthen their market position. For instance, in March 2021, Health Catalyst launched its new Healthcare.AI to deliver augmented Intelligence at scale to healthcare industry. The new Healthcare.AI will address healthcare business opportunities and challenges across revenue, cost, and quality. This strategy is expected to add value to its service portfolio as well as increase revenue from its sales.

    Frequently Asked Question(FAQ) :

    How large is the Asia Pacific healthcare analytics market?
    The market share for healthcare analytics in APAC surpassed USD 2,230 million in 2021 and is anticipated to record a growth rate of 18.6% between 2022 and 2028 considering the emergence of precision or personalized medicine in the region.
    What factors will drive Asia Pacific healthcare analytics industry value from financial management application?
    Financial management application accounted for around 32.4% of the regional industry share in 2021 and will depict substantial growth driven by the rising problem levels associated with claims denial and reimbursement.
    Why is the healthcare analytics sector growing in China?
    The market revenue for healthcare analytics in China is expected to cross USD 1,294.9 million until 2028 impelled by the surging product demand among healthcare settings for the management of huge amount of patient’s data set.
    Which are the major companies in Asia Pacific healthcare analytics landscape?
    Prominent players in the APAC industry include McKesson Corporation, Allscripts Healthcare Solution, Inc., IBM Corporation, and others.

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