Healthcare Analytics: An Emerging Trend In Europe…..

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Medicine doctor hand working with modern computer interface as medical concept

Healthcare Analytics: An Emerging Trend In Europe

 

‘’Tableau is to open its first European datacentre this year to support adoption of its cloud analytics tool’’. A latest news from Europe is merely one of many big data implications in recent past. Implication of ERP to record and manage data, formation of patient portal soft wares are some new advancements which are seen in Europe. Particularly in healthcare this trend has become contiguous. According to a survey findings the healthcare providers from Europe are unsure of the advantages of spending on big data analytics technologies. About 16% of non-hospital healthcare providers intend to spend on big data analysis (BDA) solutions in the next two years, as against 6% of hospital respondents. The healthcare providers in Europe are seen spending more on known IT tools like business intelligence and analytics as use cases are easily available. The rationale for such a trend happens to be Population ageing is a long-term trend which began several decades ago in Europe. The share of the population aged 65 years and over is increasing in every EU Member State, candidate country and EFTA Member State. The increase within the last decade ranges from 3.8 percentage points in Malta and 3.6 percentage points in Lithuania and Germany, to less than 0.5 percentage points in Luxembourg, Spain and Belgium. As the aging population is increasing, the need for data storage, integration and analysis has increased than ever in Europe. Expenditure on health care of aging population is simultaneously increasing as well, Germany is expected to reach approximately 2.8% increase from 2014-2017 to reach $461 billion.

Hence, Storing, integrating, maintaining, interpreting health care data has become the need in Europe.

This need is seen fulfilled if we see the current market figures and the rates with which it is growing. European healthcare analytics market is valued at $1,217 million in 2014 and is expected to grow at a CAGR of 21.6% to reach $3,927 million by 2020. Europe accounted approximately about 18.8% share in healthcare analytics market. European healthcare analytics market is geographical segmented into regions of UK, Germany, Spain, Netherlands, Italy and rest of Europe. In the year 2014 Germany accounted maximum share in the European healthcare analytics market followed by UK and France. Presently, Spain and Italy are lagging behind but both are expected to catch up with a speedy GAGR of XX% by the end of 2020. Cloud computing is the major mode of delivery in Europe healthcare analytics. It holds almost 55% of the whole mode of delivery market and is expected to rule in the forecasted period of 2014-2020.

Although North America is leading globally, but Europe is not far away and is speeding up.

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