Global Text Healthcare Analytics Market Overview:
Text Healthcare Analytics is refer as the analytics which is applied to text to enhance the daily experiences in amazing ways, whether to search in google or if someone is looking for recommendations in Yelp. In healthcare delivery, lower than five percent of health systems are using in a truly significant way the vast trove of clinical information is been found only in free text fields like in the physician notes, nurse documentation, pathology reports and radiology reports. Analytics in healthcare sector aid organisations by reducing the patient's stays and re-admissions in clinics and hospital, improving quality care, identification of fraud and prevention of the chronic diseases. Some of the key players profiled in the study are IBM Corporation (United States), Optum, Inc. (United States), Cerner Corporation (United States), SAS Institute, Inc. (United States), Allscripts Health Solutions (United States), McKesson Corporation (United States), MedeAnalytics, Inc. (United States), Inovalon (United States), Oracle Corporation (United States), Health Catalyst (United States) and SCIO Health Analytics (United States).
On the basis of geography, the market of Text Healthcare Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry, the sub-segment i.e. Pharmaceuticals will boost the Text Healthcare Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Descriptive Data Analysis will boost the Text Healthcare Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment model, the sub-segment i.e. On-Premise Model will boost the Text Healthcare Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase in the financial analytics use in healthcare
- Increased adoption of cloud computing technologies
- Significance relation between text and big data
- Ability to deal with the large volume of data
- Text analytics is moving beyond sentiment analysis
- Expensive analytic software and
- Lack of awareness about the advantages of text analytics among the stakeholders
- Misuse of information
- Use of text analytics in healthcare accelerates the research in healthcarre which adds to the rapid growth in the healthcare and pharmaceutical sector
- Linguistic analysis approach
- Data privacy and security concerns
- Concerns about positive roI
Major Market Developments:
Optum and The Advisory Board Company, announced that The advisory board companyís health care business will join Optum. By bringing together distinctive information and technology solutions with comprehensive data-driven research and advisory capabilities, the combined organization will be better positioned to help its members and clients respond to changing market dynamics and improve the health system for everyone
Optum Bank, the nationís leading provider of heath savings accounts, has enhanced its data and analytics tool to help increase health savings account (HSA) savings and provide accountholders with a better understanding of how to use their HSAs to pay for health care costs
Major Objectives Focused through this Study
To define, describe, and forecast the Global Text Healthcare Analytics market on the basis of product [Software and Services] , application [Customer experience management, Marketing management, Governance and Risk and compliance management], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Text Healthcare Analytics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Text Healthcare Analytics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Verscend Technologies, Inc. (United States), CitiusTech, Inc. (United States), Wipro Limited (India) and VitreosHealth (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Text Healthcare Analytics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.