Research and Markets: Big Data, EHRs Drive Healthcare Analytics Industry Growth

electronic health record EHRA Research and Markets report has forecast a 26.5 percent compound annual growth rate for the healthcare analytics market over the next five years to reach a total market value of 18.7 billion by 2020.

The research firm said Thursday medical cost and care management programs, the use of electronic health records and big data, and venture capital investments are among the factors that will trigger the market’s growth during the forecast period.

Issues that could hinder expansion of the healthcare analytics market include provider-payer operational gap, talent shortage and high technology cost, the report states.

Research and Markets also profiled multiple industry vendors, including IBM, Oracle, Cerner, Mckesson, SAS Institute, Allscripts and Truven Health Analytics.

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