The United States healthcare analytics market is forecasted to record a CAGR of 25.59% over the forecasting period. The country’s market growth is fueled by the big data revolution, the presence of well-established companies, and government support. While the base year regarded for the studied market is 2021, the forecast years are from 2022 to 2028.
The United States spends significantly on healthcare systems. In this regard, as per estimates, the country’s healthcare expenditure was $4.1 trillion or $12,530 per person, indicating a 4.3% increase from the year 2019. However, in 2020, the growth was not directly linked to patient care events. The growth was fuelled by healthcare providers through the Provider Relief Fund as well as Paycheck Protection Program loans, in addition to increased federal Medicaid funding, among others.
On the other hand, the National Institute of Health established the Big Data to Knowledge (BD2K) program in the United States to bring biomedical big data to clinicians, researchers, and others. It also empowers healthcare providers to enhance and augment patient care. The majority of the leading firms, including Optum, IBM Corporation, Oracle, etc., are headquartered in the United States. Besides, these companies also have a wide business range in the country. Hence, these factors are set to fuel the market growth in the United States during the forecast years.
Some of the leading firms operating in the market are IBM Corporation, SAS Institute, Optum, etc.
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