Healthcare Analytics Market Worth $21.3B by 2020

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The global healthcare analytics market, valued at $4.43 billion in 2013, is expected to hit $21.3 billion by 2020, according to a report from Markets and Markets.

The increase represents a compound annual growth rate of 25.2 percent.

The growth is being driven by regulatory efforts around the world to reduce the cost of care by using analytics to help use healthcare resources more efficiently. Currently, descriptive analytics and related solutions command the largest market share. The largest areas of growth in the coming years will be predictive analytics and prescriptive analytics.

Healthcare providers will continue to be the main purchasers of analytics solutions.

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