Japan and South Korea Healthcare Analytics Market

According to latest research report published by MarketsandMarkets, the Healthcare Analytics Market in Japan and South Korea by Type (Descriptive, Predictive, Cognitive), Application (Financial, RCM, Fraud, Clinical, Operational), Component (Services, Software), Deployment (on premise, Cloud), End-user (Hospitals, Payer) - Global Forecast to 2027, is expected to grow at a CAGR of 25.7% from 2022 to 2027.

The market growth is driven by the following factors:

• Increasing adoption of cloud-based analytics: Cloud-based analytics solutions are more cost-effective and scalable than on-premises solutions. In 2022, the cloud-based analytics segment accounted for 55% of the market share.
• Rising government initiatives to augment data analytics within the healthcare sector: Governments in Japan and South Korea are promoting the use of data analytics in the healthcare sector to improve the quality of care and reduce costs. The Japanese government has launched the "Society 5.0" initiative, which aims to create a society where people can live healthy and fulfilling lives through the use of advanced technologies, including data analytics.
• Increase in complex data: The healthcare industry is generating a large amount of complex data. This data can be used to improve the quality of care, reduce costs, and make better decisions. In 2022, the volume of healthcare data was estimated to be 250 zettabytes.

The healthcare analytics market in Japan and South Korea is segmented by type, delivery mode, component, application, end-user, and geography.

• By type, the market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. Descriptive analytics is the most widely used type of analytics in the healthcare industry. Predictive analytics is used to predict future events, such as patient readmissions or disease progression. Prescriptive analytics is used to recommend actions to improve patient outcomes. In 2022, the descriptive analytics segment accounted for the largest share of the market.
• By delivery mode, the market is segmented into on-premise and cloud-based. Cloud-based analytics is the fastest-growing delivery mode in the healthcare industry. In 2022, the cloud-based analytics segment accounted for the largest share of the market.
• By component, the market is segmented into software, hardware, and services. Software is the largest component of the healthcare analytics market. In 2022, the software segment accounted for the largest share of the market.
• By application, the market is segmented into clinical analytics, population health analytics, operational and administrative analytics, and financial analytics. Clinical analytics is the largest application of healthcare analytics. In 2022, the clinical analytics segment accounted for the largest share of the market.
• By end-user, the market is segmented into healthcare payers, healthcare providers, and life sciences companies. Healthcare payers are the largest end-user of healthcare analytics. In 2022, the healthcare payers segment accounted for the largest share of the market.
• By geography, the market is segmented into Japan and South Korea. Japan is the largest market for healthcare analytics in the Asia Pacific region. In 2022, Japan accounted for the largest share of the market.

The key players in the healthcare analytics market in Japan and South Korea are IBM, Oracle, Allscripts Healthcare, Cerner Corporation, and McKesson Corporation. These companies are investing in research and development to develop new and innovative healthcare analytics solutions.

Here are some of the benefits of using healthcare analytics:

• Improved patient care: Healthcare analytics can be used to identify patients who are at risk for developing certain conditions, such as heart disease or diabetes. This information can be used to intervene early and prevent these conditions from developing.
• Reduced costs: Healthcare analytics can be used to identify areas where costs can be reduced, such as by streamlining processes or identifying unnecessary procedures.
• Improved decision-making: Healthcare analytics can be used to provide healthcare providers with insights that can help them make better decisions about patient care.

Overall, the healthcare analytics market in Japan and South Korea is expected to grow at a rapid pace in the coming years. The growth of the market will be driven by the increasing adoption of cloud-based analytics, rising government initiatives, and the increasing volume of complex data.

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