In Focus

Healthcare

Staff Reporter

, APAC

Published:

7 months ago

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Photo from JJ Ying on Unsplash

Healthcare analytics market to reach $345.94b by 2035 amidst tech adoption

It is expected to grow at a CAGR of 26.4% until 2035.

The healthcare analytics market is set to grow at a compound annual growth rate (CAGR) of about 26.4% to reach over $345.94b by 2035, according to Market Research 365.

The report revealed that the rising adoption of analytics tools, particularly with electronic health records (EHRs), digitalisation of medical data, and the push for value-based care and population health management are some driving factors in the market’s growth.

However, the market may experience challenges that hinder potential growth such as data privacy concerns, regulatory compliance, and data complexity.

ALSO READ: Global orthodontic and orthopaedic market projected to rise at 9% CAGR until 2028

The report mentioned that integrating analytics tools and technologies into existing healthcare workflows would require careful planning and investment.

Moreover, some factors that could lead to the healthcare analytics industry’s further advancement are predictive and prescriptive analytics, artificial intelligence (AI), and partnerships between healthcare providers and data analytics companies.

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