Healthcare Business Intelligence Impacted a Vital Change in the Healthcare Industry with Information Builders, Oracle, QlikTech International AB, Microsoft, MicroStrategy Incorporated and others

Healthcare business intelligence is the aggregation, analysis, and use of clinical, financial, operational, and non-traditional data captured inside and out of the healthcare setting to directly inform decision-making. It has the power to positively impact patient care delivery, health outcomes, and business operations. Leveraging the power of clinical and business intelligence will improve our nation’s entire healthcare system as well as the medical and economic wellness of patients.

The healthcare business intelligence (BI) market is expected to reach USD 8.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 15.3% during the forecast period.

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The study involved four major activities to estimate the current size of the market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Growing demand for cloud-based healthcare BI solutions is driving the growth of this segment
On the basis of deployment model, the healthcare business intelligence market is segmented into on-premise, hybrid, and cloud-based models. In 2018, cloud-based models are expected to register the highest CAGR during the forecast period. Factors such as on-demand self-serving analytics, their highly adaptable nature, ease of use, affordability, reliability, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model is expected to boost the demand for healthcare business intelligence services.

North America is expected to lead the healthcare business intelligence market in 2023

On the basis of the region, the healthcare business intelligence market is segmented into North America, Europe, Asia, and the RoW. In 2018, North America is expected to account for the largest share of the market, followed by Europe, The largest share of the North American market is attributed to the factors such as The increasing adoption of healthcare intelligence solutions and services by healthcare providers (especially in the US) to provide better quality care and lower healthcare costs. In 2018, Europe is expected to hold the second-largest share. Factors such as the need to provide quality healthcare quicker and efficiently rises, it will drive the adoption of tools to streamline healthcare delivery; this will prove favorable to the growth of the healthcare business intelligence market in Europe.

The Healthcare Business Intelligence Market is segmented Further as;
The study provides a decisive view of the healthcare business intelligence (BI) market based on type, technology, application, end-user, and region. All the segments have been analyzed based on present and future trends in the market are estimated from 2019 to 2025. Based on the type, the healthcare business intelligence (BI) market is classified into descriptive, predictive, prescriptive, and others. Based on technology, the market is segmented into typical architecture BI, mobile BI, cloud BI, and others. Based on application, the market includes financial analysis, marketing analysis, clinical data analysis, patient care analysis, and others. Based on end-user, the market includes pharmaceutical and biotechnology companies, medical device companies, biomedical research centers, and third-party administrators. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further classification into major countries including the U.S., Canada, Germany, France, UK, China, Japan, India, and Brazil.

Some major players of the global healthcare business intelligence (BI) market include BOARD International, IBM, Information Builders, Oracle, QlikTech International AB, Microsoft, MicroStrategy Incorporated, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software, and Yellowfin BI.

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