Emergency Patient Data Analytics Market Projected to Reach $265.71 Billion by 2031 – Exclusive Report by InsightAce Analytic Pvt. Ltd.
InsightAce Analytic Pvt. Ltd. has announced the release of a market assessment report on “Global Emergency Patient Data Analytics Market – (By Type (Descriptive, Prescriptive, Predictive), By Application (Financial, Operational, Clinical), By End User (Provider, Payer)), Trends, Industry Competitive Analysis, Revenue and Forecast to 2031.”
According to the latest research from InsightAce Analytic, the global emergency patient data analytics market is valued at USD 28.23 billion in 2022 and is expected to reach USD 265.71 billion by 2031, growing at a CAGR of 28.4% during the forecast period (2024-2031).
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The rise of emergency patient data analytics
Emergency patient data analytics has emerged as a critical and dynamic component of the healthcare sector, especially in the context of recent global health emergencies such as the COVID-19 pandemic. Its importance has been highlighted by the urgent need to analyze and scrutinize patient data in new ways.
Driving force
One of the constant drivers of the development of data analytics for emergency patients is the increasing need for evidence-based medical decisions. As healthcare systems strive to improve effectiveness and patient outcomes, data analytics will be essential.
The smooth integration of various data sources such as complete medical history, diagnostic test results, and real-time monitoring metrics can help develop personalized treatment plans, which not only improves patient care but also speeds up overall recovery. Additionally, AI-powered triage systems can assist healthcare professionals by reducing emergency room wait times, optimizing resource utilization, and prioritizing patient treatment.
The power of interoperability
A particularly exciting development in the emergency patient data analytics space is the creation of interoperable solutions. As health systems strive for greater connectivity and data sharing, interoperability becomes essential. Interoperability allows for the smooth integration and exchange of patient data across numerous platforms and healthcare organizations.
A focus on interoperability builds trust among healthcare professionals as these technologies help capture comprehensive patient data from any source, driving more accurate diagnoses, more efficient care coordination, and ultimately better outcomes.
This revision improves readability by providing a clearer structure, separating the introduction to emergency patient data analytics from the discussion of the factors driving its development and the importance of interoperability.
List of Key Players in the Emergency Patient Data Analytics Market:
• IBM,
• Care Evolution,
• Kaladim,
• Exploris,
• Sellner,
• InterSystems,
• Athenahealth,
• Truven Health Analytics
• Wellsent,
• McKesson
Market Trends:
driver-
Value-based healthcare is the practice of objective value-based outcomes delivered by healthcare interventions, assessed by a predefined set of indicators (often used to assess value and cost-effectiveness). Future healthcare trends will become more quality-oriented, with a focus on improving service quality and developing innovative approaches to value-based healthcare and care management.
Most hospitals are gradually realizing the inefficiencies in traditional patient care, quality assurance, and cost control processes. As a result, hospitals’ investment objectives in logistics management, HIE, and predictive analytics are incorporating healthcare BI solutions.
assignment:
Despite the recognized benefits of analytics among healthcare organizations, high implementation and subscription/license fees for advanced analytics solutions have hindered adoption among price-sensitive end users. Only top-tier hospitals have the capabilities and resources to effectively leverage big data to deliver meaningful insights.
Regional trends:
The North American emergency patient data analytics market is ranked number one globally during the forecast period. The segment is driven by rising healthcare costs and the desire to control soaring healthcare expenses.
The clinical data analytics market in this region is expanding due to the increasing per capita healthcare expenditure. Moreover, developments in healthcare informatics and strengthening healthcare facilities are driving the business forward in this region. The data analytics business in North America is expected to garner substantial revenue streams throughout the forecast period.
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Recent developments:
• In January 2022, IBM and Francisco Partners entered into a definitive agreement under which Francisco Partners will purchase from IBM the healthcare data and analytics assets that are now integrated into Watson Health. Francisco Partners acquired a broad range of assets covering a variety of datasets and products, including Health Insights, MarketScan, clinical development, social program management, Micromedex and imaging software services.
• In August 2019, Cerner and Duke collaborated to analyze patient statistics around cardiovascular disease treatment. Cerner and DCRI wanted to bring together data and intelligence to help clinicians better understand chronic cardiovascular conditions that, if not properly treated, can lead to heart disease and stroke.
Segmentation of the emergency patient data analytics market
By type –
• Descriptive
• Prescriptive
• Predictive
By Application –
• Finance
• Operation
• Clinical
By end user
• Provider
• Payers
By region –
North America-
• America
• Canada
• Mexico
Europe-
• Germany
• England
• France
• Italy
• Spain
• Other Europe
Asia Pacific –
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
latin america-
• Brazil
• Argentina
• Other Latin American countries
Middle East and Africa
• GCC countries
• South Africa
• Rest of the Middle East and Africa
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