The report on the global healthcare analytics market provides qualitative and quantitative analysis for the period from 2021-2030. The global healthcare analytics market was valued at USD 31.1 billion in 2022 and is expected to reach USD 179.62 billion in 2030, with a CAGR of 21.29% during the forecast period 2023-2030. The study on healthcare analytics market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
Healthcare analytics provides valuable insights into various aspects of healthcare management. This includes aspects such as hospital operations, patient records, diagnoses, financial costs, and more. In today's dynamic market and competitive landscape, it's essential for healthcare organizations to gain a deeper understanding of the underlying trends and find ways to stand out. Developing a strong competency in analytics allows healthcare organizations to achieve several important objectives. Firstly, it empowers them to improve patient outcomes and set a clear vision for their future. Additionally, it enables the generation of actionable insights from data, which can enhance the effectiveness and efficiency of healthcare operations. These analytics tools are not limited to addressing minor issues but also assist in tackling more complex processes. The power of healthcare analytics lies in its ability to assess and uncover innovative insights. These insights, in turn, can inform the design and planning of healthcare policies, enhance the delivery of services, improve sustainability efforts, manage risk more effectively, and evaluate crucial organizational data.
Growing healthcare data is driving the healthcare analytics market. The increasing volume of healthcare data, including Electronic Health Records (EHRs), medical imaging, patient-generated data, and genomic information, is a major driver for market growth. Moreover, regulatory compliance is also responsible for healthcare analytics market growth. Government regulations and mandates, such as the Meaningful Use program in the U.S., require healthcare organizations to adopt EHR systems and use data analytics to demonstrate compliance and qualify for incentives. However, healthcare analytics solutions can be expensive, and their implementation and maintenance costs are significant barriers to market growth. The application of analytics in precision and personalized medicine is presenting huge market opportunities for healthcare analytics.
North America is expected to hold a dominant position in the healthcare analytics market, and this is evident from the presence of key market players in the United States. The substantial market share in this region can be attributed to the influence of legislative initiatives such as Electronic Health Records (EHR) and incentives provided by the Health Information Technology for Economic and Clinical Health (HITECH) program. Healthcare analytics is widely adopted in North American countries like the U.S., and Canada, contributing significantly to market growth in this region. In Europe, the healthcare analytics market ranks second in terms of size. This is primarily due to the ongoing technological advancements within the healthcare industry and an increasing focus on data management and governance. The Asia Pacific region is expected to witness the fastest growth in the healthcare analytics market during the forecast period. This growth can be attributed to several factors, including the rise in medical tourism within the region and the enhanced efficiency that healthcare analytics brings to addressing healthcare sector challenges.
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the healthcare analytics market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global healthcare analytics market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Healthcare analytics provides valuable insights into various aspects of healthcare management. This includes aspects such as hospital operations, patient records, diagnoses, financial costs, and more. In today's dynamic market and competitive landscape, it's essential for healthcare organizations to gain a deeper understanding of the underlying trends and find ways to stand out. Developing a strong competency in analytics allows healthcare organizations to achieve several important objectives. Firstly, it empowers them to improve patient outcomes and set a clear vision for their future. Additionally, it enables the generation of actionable insights from data, which can enhance the effectiveness and efficiency of healthcare operations. These analytics tools are not limited to addressing minor issues but also assist in tackling more complex processes. The power of healthcare analytics lies in its ability to assess and uncover innovative insights. These insights, in turn, can inform the design and planning of healthcare policies, enhance the delivery of services, improve sustainability efforts, manage risk more effectively, and evaluate crucial organizational data.
Growing healthcare data is driving the healthcare analytics market. The increasing volume of healthcare data, including Electronic Health Records (EHRs), medical imaging, patient-generated data, and genomic information, is a major driver for market growth. Moreover, regulatory compliance is also responsible for healthcare analytics market growth. Government regulations and mandates, such as the Meaningful Use program in the U.S., require healthcare organizations to adopt EHR systems and use data analytics to demonstrate compliance and qualify for incentives. However, healthcare analytics solutions can be expensive, and their implementation and maintenance costs are significant barriers to market growth. The application of analytics in precision and personalized medicine is presenting huge market opportunities for healthcare analytics.
North America is expected to hold a dominant position in the healthcare analytics market, and this is evident from the presence of key market players in the United States. The substantial market share in this region can be attributed to the influence of legislative initiatives such as Electronic Health Records (EHR) and incentives provided by the Health Information Technology for Economic and Clinical Health (HITECH) program. Healthcare analytics is widely adopted in North American countries like the U.S., and Canada, contributing significantly to market growth in this region. In Europe, the healthcare analytics market ranks second in terms of size. This is primarily due to the ongoing technological advancements within the healthcare industry and an increasing focus on data management and governance. The Asia Pacific region is expected to witness the fastest growth in the healthcare analytics market during the forecast period. This growth can be attributed to several factors, including the rise in medical tourism within the region and the enhanced efficiency that healthcare analytics brings to addressing healthcare sector challenges.
Report Findings
1) Drivers
- The growing volume and complexity of healthcare data are driving the adoption of healthcare analytics.
- Regulatory compliance is also responsible for healthcare analytics market growth.
2) Restraints
- Healthcare analytics solutions can be expensive, and their implementation and maintenance costs are significant barriers to market growth.
3) Opportunities
- The application of analytics in precision and personalized medicine is presenting huge market opportunities for healthcare analytics.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.The primary respondents approached include:
1. Key Opinion Leaders2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include:
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include:
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segments Covered
The global healthcare analytics market is segmented on the basis of type, mode of delivery, application, and end user.The Global Healthcare Analytics Market by Type
- Descriptive Analytics
- Prescriptive Analytics
- Predictive Analytics
The Global Healthcare Analytics Market by Mode of Delivery
- On-premise
- Web-based
- Cloud-based
The Global Healthcare Analytics Market by Application
- Clinical
- Financial
- Operational
- Administrative
The Global Healthcare Analytics Market by End User
- Healthcare Payers
- Healthcare Providers
- Others
Company Profiles
The companies covered in the report include:
- Oracle Cerner
- IBM Corporation
- Inovalon
- Athenahealth
- Optum, Inc.
- Change Healthcare
- MCKESSON CORPORATION
- Health Catalyst
- Veradigm LLC
- Computer Programs and Systems, Inc. (CPSI)
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the healthcare analytics market.2. Complete coverage of all the segments in the healthcare analytics market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global healthcare analytics market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Healthcare Analytics Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Healthcare Analytics Market by Type
Chapter 7. Global Healthcare Analytics Market by Mode of Delivery
Chapter 8. Global Healthcare Analytics Market by Application
Chapter 9. Global Healthcare Analytics Market by End User
Chapter 10. Global Healthcare Analytics Market by Region 2023-2030
Companies Mentioned
- Oracle Cerner
- IBM Corporation
- Inovalon
- Athenahealth
- Optum, Inc.
- Change Healthcare
- MCKESSON CORPORATION
- Health Catalyst
- Veradigm LLC
- Computer Programs and Systems, Inc. (CPSI)
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | October 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 31.1 Billion |
| Forecasted Market Value ( USD | $ 179.62 Billion |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
