Healthcare Analytics Market booming in Europe!

Europe Healthcare Analytics Market – Overview

Europe has lately been in the news for a lot of positive news related to the healthcare market, which carry a lot of big data implications. For example, Tableau, to support the adoption of its cloud analytics tools, is going to open its first European Data Center. The launch of patient portal software and the adaptation of ERP to not only record but also manage data are some of the latest developments which are taking place in Europe. The trend is particularly spectacular in the healthcare market in Europe. A survey finds that about 6 percent of hospital respondents plan to spend on big data analytics as compared to 16 percent of non-hospital providers of health care. The survey further finds that the respondents are unsure of spending big on technologies in big data as they are unsure of the advantages, and that, they are more prone to spend on the introduction of business analytics and business intelligence as their case studies and advantages are easily foreseen. The reason for such a trend can be accounted to the factor of population ageing which began several decades ago in Europe. All throughout the European Union, the populace over the age of 65 is increasing and the population aging rate varies from about 3.96 percent in Germany and Lithuania, and 3.8 percent in Malta to less than a percent of 0.5 in the regions of Spain, Belgium, and Luxembourg. The increase in the age of the population brings with it the requirement for data storage, analysis and integration. The above has a consequent boosting impact on the expenditure on healthcare of the aging population. For consideration. Germany is anticipated to touch a market value of more than USD 450 Million in this market.

Therefore, the storage, maintenance, integration and the interpretation of health care data has become a major requirement in Europe.

The vacuum created for healthcare data and analytics is seen to be filled as can be seen in the current market figures and the growth rate. The European Health Care Market was valued at USD 1.704 Billion in 2015 and is expected to grow to a value of USD 5.524 Billion by 2021. The CAGR is projected to be around 26.52 percent.  The region of Europe accounts for about 20 percent of the global market share of the healthcare analytics market.  Based on geography, the Europe market is analyzed under various regions namely, Spain, Germany, UK, France, and Italy. The country of Germany accounts for the majority market share in Europe, and is followed with close competitors UK and France. The countries of Spain and Italy lag behind but are anticipated to grow with a robust CAGR by the end of 2021. In the domain of Europe Health Care Analytics, the technology of cloud computing is the major method of data management and storage, and accounts for more than 55 percent of the market share in the technologies available for healthcare analytics. It is expected to futher expand during the forecast period.

Europe is the hotspot of global healthcare analytics!

Check out Market Data Forecast’s comprehensive reports with in-depth analysis about the Healthcare Analytics Market a free research sample can also be availed. Stay tuned for trending news stories about the latest technologies and interesting Healthcare tit-bits.

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