Predictive Disease Analytics Market Segmentation:
Component (Software, Services)
In component, the software segment is anticipated to register the highest growth during the forecast period owing to its crucial role in data processing, modeling, and providing actionable insights. Predictive analytics software enables healthcare providers and payers to harness large datasets, apply ML algorithms, and generate forecasts for disease progressions and treatment outcomes. For instance, in December 2020, Amazon Web Services announced the launch of Amazon HealthLake. It is verified by HIPAA, allowing pharmaceutical companies healthcare providers, and health insurance companies, to stock, transform, request, and analyze health data at a petabyte scale. The analytics software is also essential for integrating data from various sources, including EHRs, wearable devices, and genomic data, hence, boosting the predictive disease analytics market.
End use (Healthcare payers, Healthcare providers)
In end use, the healthcare payers segment is projected to witness significant growth, registering a share of 75.6% in the year 2035. This is due to their focus on cost containment and improving healthcare outcomes. Payers, such as insurance companies and government healthcare programs, benefit significantly from predictive analytics by identifying high-risk patients. By leveraging predictive models, payers can forecast future healthcare costs, implement preventive care programs, and design value-based payment models that incentivize better patient management. For instance, in February 2021, Swiss Re and Diameter Health announced a collaboration to offer the first-ever scalable solution to use electronic clinical health data for life insurance underwriting.
Our in-depth analysis of the predictive disease analytics market includes the following segments:
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