- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
Healthcare Analytics Market size valued at USD 16759 million in the year 2022 and is anticipated to grow at USD 94349 million by 2029 witnessing a CAGR of 29% from 2023-2029. Healthcare analytics tools greatly aid in improving financial, clinical and operational performance of healthcare industries. Several innovative technologies are followed by healthcare industries since many days. The advanced analytics has great significance in healthcare systems as they provide insights for managing business effectively. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the market report includes regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
Healthcare Analytics Market Key Developments:
- In 2016 March, Advera Health Analytics, a healthcare informatics company, launched Evidex, a web-based platform with structured real-world drug evidence which combines annotated data from curated clinical trial results.
- In 2012, AAIPharma Services Corp pharmaceutical product development services provider acquired Celsis Analytical Services, a unit of Celsis International Ltd.
- In 2012, IMS Health (QuintilesIMS) acquired PharmaDeals Ltd., online information provider of licensing, mergers & acquisitions and business transactions about pharmaceutical industry globally.
Global Healthcare Analytics Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
28%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Healthcare Analytics Market Dynamics
Healthcare industry is adopting innovative technologies from the past decade. The advanced analytics can play a vital role in healthcare systems and provide insights to manage business proactively and efficiently. Moreover, analytics enables predict patients future health needs, which is more useful for provider and payer. Hence, most of the healthcare organizations are inclining towards healthcare analytics. For instance, electronic health records (EHR) provides patient data like history, prescriptions, personal details like contact number, email address, diagnostic test results, physicians comments etc. Healthcare expenditure is the prime factor, which drives the healthcare analytics market. Rise in healthcare expenditure, effective hospital management strongly correlates with quality of care. Healthcare analytics able to provide insights to reduce costs, identify at-risk populations, minimize inefficiencies, and predict future healthcare needs and diagnostic tests.
North-America Got Significant Share
Healthcare Analytics Market Regional Analysis
U.S. Healthcare Analytics Market is expected to expand at significant CAGR over the forecast period owing to rise in healthcare expenditure, adoption of sophisticated technologies have expected to propel the market. The healthcare services come with a price, organizations are incentivized to seek volume business over the value business. The above model enables enhance read missions, repeat visits, and other inefficiencies that increase cost. Analytics used to implement payment process depends on performance rather than volume, the provider would be paid for value, depends on outcomes. Data-driven models have been using to identify disease risk factors. Health Insurance Portability and Accountability(HIPAA), permits the disclosure of confidential information regarding health for research without an authorization of the patient. Lack of skilled resources, limited healthcare infrastructure in developing countries, data confidentiality is the major challenges of the healthcare analytics market.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Global Healthcare Analytics Market Segmentation
By Type
By Application
- Population Health Analytics
- Financial Management
- Clinical Data Management
- Operations Management
- Others
By Component
- Hardware
- Software
- Services
By End-User
- Hospitals
- Clinics
- Others
Frequently Asked Questions
The healthcare analytics market is projected to expand at a CAGR of 29% during the forecast period
HP Development Company, L.P.(U.S.), Inovalon (U.S.), McKesson Corporation (U.S.), Mede Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc. (U.S.), Verisk Analytics (U.S.), SAS Institute, Inc. (U.S
North America is the fastest-growing region for healthcare analytics market
- Research Methodology
- Secondary and Primary research
- Secondary Sources
- Primary Sources
- Market Revenue Estimation Methodology
- Key Assumptions
- Acronyms
- Secondary and Primary research
- Scope of Study
- Market Definition
- Objective of the Research
- Regions covered in the study
- Executive summary
- Global Healthcare Analytics Market Dynamic Factors
- Drivers
- Economic Drivers
- Demand Side Drivers
- Supply Side Drivers
- Restraints
- Opportunities/Unmet Needs of the Market
- Trends
- Drivers
- Unique Features of the Report
- Competition analysis
- Dash board of top players
- Financial Analysis
- Product & Services
- Key Developments
- Major Strategies
- SWOT Analysis
- Technological advancements in healthcare analytics market
- Recent investments in the industry
- Regulatory landscape
- US.
- Europe
- PESTLE analysis
- Porter’s analysis
- Competition analysis
- Global Healthcare Analytics Market , By Type, 2018 - 2022 and Forecast, 2023 - 2029
- Descriptive Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Predictive Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Prescriptive Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Others
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Descriptive Analytics
- Global Healthcare Analytics Market Forecast, By Application, 2018 - 2022 and Forecast, 2023 - 2029
- Population Health Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Financial Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Claims Processing
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Revenue Cycle Management (RCM)
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Payment Integrity
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Risk Adjustment
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Fraud, Waste, and Abuse (FWA)
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Clinical Analytics
- Comparative Analytics/Comparative Effectiveness
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Quality Improvement & Clinical Benchmarking
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Reporting and Compliance
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Clinical Decision Support
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Precision Health
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Operational and Administrative Analytics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Workforce Management
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Strategic Analysis
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Supply Chain Management
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Others
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Comparative Analytics/Comparative Effectiveness
- Population Health Analytics
- Global Healthcare Analytics Market , By Component, 2018 - 2022 and Forecast, 2023 - 2029
- Hardware
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Software
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Services
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Hardware
- Global Healthcare Analytics Market , By End-Use, 2018 - 2022 and Forecast, 2023 - 2029
- Hospitals
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Clinics
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Others
- Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029(Revenue, USD Mn)
- Year-over-Year (Y-o-Y) Growth Analysis (%)
- Hospitals
- Healthcare Analytics Market Forecast, By Region Analysis, 2018 - 2022 and Forecast, 2023 - 2029
- North America Healthcare Analytics Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
- Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Others
- Application Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
- Population Health Analytics
- Financial Analytics
- Claims Processing
- Revenue Cycle Management (RCM)
- Payment Integrity
- Risk Adjustment
- Fraud, Waste, and Abuse (FWA)
- Clinical Analytics
- Comparative Analytics/Comparative Effectiveness
- Quality Improvement & Clinical Benchmarking
- Reporting and Compliance
- Clinical Decision Support
- Precision Health
- Operational and Administrative Analytics
- Type Analysis (2018 - 2022) and Forecast (2023 - 2029) by Revenue (USD Mn) and Y-o-Y Growth (%)
- North America Healthcare Analytics Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
- Allscripts Health Solutions (U.S.)
- Cerner Corporation (U.S.)
- IBM Corporation (U.S.)
- Health Catalyst (U.S.).
- HP Development Company, L.P.(U.S.)
- Inovalon (U.S.)
- McKesson Corporation (U.S.)
- Mede Analytics, Inc. (U.S.)
- Oracle Corporation (U.S.)
- Optum, Inc. (U.S.)
- Verisk Analytics (U.S.)
- SAS Institute, Inc. (U.S