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Making Investments in Healthcare Analytics Market to take Advantage Lucrative Market
The healthcare analytics market is a highly fragmented market with some major players such as IBM Corporation (U.S.), Oracle Corporation (U.S.), Truven Health Analytics, Inc. (U.S.), Verisk Health, Inc. (U.S.), Optum, Inc. (U.S.), MedeAnalytics, Inc. (U.S.), McKesson Corporation (U.S.), SAS Institute, Inc. (U.S.), LexisNexis Risk Solutions (U.S.), Inovalon, Inc. (U.S.), Predixion Software (U.S.), iHealth Analytics, Inc. (U.S.), Predilytics (U.S.), and Cerner Corporation (U.S.), among others.
A majority of the companies in the healthcare analytics market are from the U.S. This market has no clear market leader as various segments have different leaders, depending on their end-user target segment and product offerings.
New product developments, acquisitions and mergers, agreements and collaborations, expansions, and others are some of the major strategies adopted by players to achieve growth. New product launches/developments is a major growth strategy adopted by almost half of the companies in the healthcare analytics market. The popularity of this strategy can be attributed to the fact that most companies want to have comprehensive product offerings, increase their profitability, and expand their presence in the global market. Companies such as IBM Corporation; Inovalon, Inc.; MedeAnalytics, Inc.; Mckesson Corporation ; Optum, Inc.; Truven Health Analytics, Inc.; Verisk Analytics, Inc.; and others have launched new products and made developments/enhancements to their existing product offerings to leverage the healthcare market growth opportunities.
Venture capitalists are focusing on making investments in the healthcare analytics market to take advantage of this lucrative market. This will further encourage the existing as well as new market entrants to invest in this field and introduce technologically advanced products. Healthcare analytics received $78 million in seven deals in the first half of 2013. Some of the interesting deals that took place in the second half of 2013 include in October 2013, Albion Ventures (U.K.), one of the largest venture capitalists in U.K. and Scottish equity partners (U.K.) invested in Aridhia Informatics (U.K.), a health and biomedical informatics company. In September 2013, Foundation Medical Partner (U.S.) invested in Predilytics (U.S.), an advanced predictive analytics company. Thus, ongoing venture capital investments further increase the market attractiveness.
Healthcare Analytics/Medical Analytics Market by Application (Clinical, Financial, & Operational), Type (Predictive, & Prescriptive), End-user (Payer, Provider, HIE, ACO), Delivery Mode (On-premise, Web, & Cloud) - Trends & Global Forecasts to 2020.
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