PUNE, India, November 3, 2016 /PRNewswire/ -- According to a new market research report "Healthcare Analytics/ Medical Analytics Market by Application (Clinical, RCM, Claim, Fraud, Supply Chain, HR, PHM), Type (Prescriptive), Component (Service, Software), Delivery (On-premise, Cloud), End User (Hospital, Payer, ACO, TPA) - Forecasts to 2021", published by MarketsandMarkets, the global market is expected to reach USD 24.55 Billion by 2021 from USD 7.39 Billion in 2016, at a CAGR of 27.1% during the forecast period. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 323 market data Tables and 55 Figures spread through 318 Pages and in-depth TOC on"Healthcare Analytics/ Medical Analytics Market"http://www.marketsandmarkets.com/Market-Reports/healthcare-data-analytics-market-905.htmlEarly buyers will receive 10% customization on this report. The growth of this market is mainly driven by factors such as increasing government initiatives to enhance EHR adoption, rising pressure to curb healthcare spending and need for improved patient outcomes, availability of big data in healthcare, rise in venture capital investments, and technological advancements. Moreover, use of analytics in precision and personalized medicine, increasing focus on value-based medicine and cloud-based analytics, increasing number of patient registries, and emergence of social media and its impact on the healthcare industry provide significant growth opportunities in the market. However, lack of skilled professionals, high cost of analytics solutions, and operational gaps between payers and providers may hinder the growth of this market during the forecast period. The report segments the Healthcare Analytics Market based on type, application, component, delivery model, end user, and region. Based on type, the Healthcare Analytics Market is segmented into descriptive, predictive and prescriptive analytics. The descriptive analytics segment is expected to account for the largest share of the Healthcare Analytics Market in 2016. The significant usage of descriptive analytics by healthcare providers to gain a better understanding of the past trends and event occurring in real-time, is expected to drive the growth of the descriptive analytics market during the forecast period. Based on delivery model, the Healthcare Analytics Market is segmented into on-demand and on-premise models. The on-demand model segment is expected to grow at the highest CAGR during the forecast period due to its advantages such as growing demand for self-driven analytics, lack of upfront capital investments for hardware, extreme capacity flexibility, and the pay-as-you-go pricing of this model.