Here are five observations:
1. North America currently captures the largest market share because of the centralized healthcare system in the United States.
2. The increased presence of big data in healthcare, more return on investments within a shorter timeframe and growing adoption of healthcare IT will all spur market growth.
3. Data security and a dearth of skilled professionals with analytics backgrounds will serve as barriers to market growth, however.
4. The market is seeing larger companies expand by acquiring smaller companies, as opposed to pushing forth product innovation or launches.
5. IBM Corp. in Armonk, North Castle, N.Y., Oracle Corp. in Redwood City, Calif., Humedica in Boston, Metric Insights in San Francisco, Paradigm4 in Waltham, Mass., Rapid Insight in Conway, N.H., Truven Health Analytics, Inovalon in Bowie, Md., MedeAnalytics in Emeryville, Calif., and McKesson Corp. in San Francisco are dominant market players.
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