Predictive Analytics in Healthcare Market: How pharma industry can accelerate business impact from advanced analytics

The global predictive analytics in healthcare market was valued at $1,806 million in 2017, and is estimated to reach $8,464 million by 2025 at a CAGR of 21.2% from 2018 to 2025.

The major factors that drive the growth of the market include increase in efficiency in the healthcare sector, emergence of personalized and evidence-based medicine, and rise in demand to curtail healthcare expenditure by reducing unnecessary costs. However, lack of robust infrastructure for effective functionality and limited skilled IT professionals in healthcare are expected to hamper the market growth. Moreover, rise in importance of healthcare in emerging economies is expected to help open new avenues for the market growth during the forecast period.

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Predictive analytics helps to provide models that capture relationships using many factors to analyze the risk with particular set of conditions and helps to effectively interpret big data for their benefits. It helps healthcare professionals make better decisions and allows them to provide personalized care to each individual. The increase in healthcare costs throughout the world motivates the healthcare providers to increase the adoption of predictive analytics.

The major factors that drive the growth of the predictive analytics in healthcare market include increase in demand to curtail healthcare expenditure by reducing unnecessary costs increasing efficiency in the healthcare sector, and emergence of personalized and evidence-based medicine. However, lack of robust infrastructure for effective functionality and limited skilled IT professionals in healthcare limit the market growth. Conversely, growth in importance of healthcare in emerging economies is anticipated to provide numerous opportunities for the market growth during the forecast period.

Among applications, the financial data analytics segment occupied the largest share, and is anticipated to continue its dominance during the forecast period, owing to the increase in acceptance of predictive analytics for the fraud detection & prevention and management of revenue cycles among the healthcare providers and payers.

Among end users, the healthcare payer segment occupied the largest share. This segment mainly includes insurance companies, health plan sponsors where predictive analytics is adopted to evaluate insurance claims, prevent & detect fraudulent claims, and assess disease risk, thus boosting the market growth.

The key players operating in the global predictive analytics in healthcare market include

• Allscripts Healthcare Solutions Inc.,
• Cerner Corporation,
• IBM Corporation,
• Information Builders Inc.,
• MedeAnalytics, Inc.,
• Optum Inc.,
• Oracle Corporation,
• SAS Institute, Inc.,
• Microsoft Corporation,
• Verisk Analytics

Other prominent players in the value chain include CitiusTech Inc., Nous Infosystems, Streamline Health Solutions, LLC, Alteryx, Inc., Hortonworks Inc., Health Fidelity, Inc., and ScienceSoft USA Corporation.

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Table Of Content

Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO perspective

Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porters five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increase in demand to curtail healthcare expenditure
3.4.1.2. Increasing efficiency in the healthcare sector
3.4.1.3. Emergence of precision and evidence-based medicine
3.4.2. Restraints
3.4.2.1. Lack of robust infrastructure for effective functionality
3.4.2.2. Limited acceptance from healthcare professionals
3.4.3. Opportunity
3.4.3.1. Growing importance of healthcare in emerging economies

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