Study: Healthcare Analytics Market Worth $32B in 7 Years

electronic health record EHRA Stratistics MRC report, released by Reportbuyer, forecasts the healthcare analytics market’s value will increase from $5.5 billion in 2014 at a 24.82 percent compound annual growth rate to hit $32.4 billion by 2022.

The growing demand for healthcare-related information technology systems and implementation of federal health policies are among the forces that could drive the market over the next seven years, Reportbuyer said Thursday.

Researchers also projected a lack of analytics professionals as well as data privacy and security challenges will hinder healthcare analytics business growth worldwide.

Key market players mentioned in the report include IBM, Oracle, McKesson, Humedica, Metric Insights, Paradigm4, Rapid Insight, Truven Health Analytics, Inovalon and MedeAnalytics.

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