North America Healthcare Analytics Market Trends

Predictive analytics, along with machine learning, is rapidly becoming one of the most discussed topics in healthcare analytics. Predictive analytics has proven to be a significant asset in the medical decision-making process. Patients respond differently to all types of treatment, especially chronic diseases. Additionally, predictive analytics can be used to identify warning signs before conditions become severe. With the COVID-19 pandemic being at the forefront of healthcare, researchers are putting resources into developing predictive analytic methods for combating the virus. For instance, in January 2022, CureMD Healthcare, manufacturing SMART Cloud Health IT solutions, announced the launch of its Rapid Testing Platform for COVID-19 testing.

Predictive analytics can combine data from multiple sources including hospital-based electronic medical records, fall detection pendants, and historical use of medical alert services to identify seniors who are at risk of emergency transport in the next 30 days. This allows healthcare providers to reach out to a senior person even before a fall or other medical complication occurs, preventing unnecessary hospital readmissions and reducing costs of transportation, acute care, and rehabilitation. Apart from these recent mergers, acquisitions and partnerships are also driving the market segment in the region. For instance, in June 2022, Oracle completed its acquisition of Cerner. Cerner and Oracle can transform healthcare delivery by providing medical professionals with better information enabling them to make better treatment decisions resulting in better patient outcomes.

Thus, due to the above-mentioned reasons, the segment is expected to show significant growth over the forecast period.