Healthcare Analytics Market Will Reach USD 33,854.6 Million by 2023: Meticulous Research®

Healthcare analytics market has shown strong growth pattern in recent year’s majorly due growing investments by venture capitalists, increasing pressure to provide quality care and control healthcare costs, rising big data in healthcare, trend towards value-based care, improving HCIT infrastructure and adoption of HCIT solutions such as EMRs and HIE, and increasing focus on personalized medicine and preventive care. In addition, advancing IT and big data capabilities, government support for coordinated care, proliferating Accountable Care Organizations (ACO), and technological advancements are resulting in robust demand for healthcare analytics across the globe.

Meticulous Research® in its latest publication on healthcare analytics market states that the global healthcare analytics market will increase at a CAGR of 25.5% from 2018 to 2023 to reach USD 33,854.6 million by 2023. Wherein, geographically, North America commanded the largest share in this market followed by Europe. The major share of North America is mainly attributed to significant adoption of analytics in the U.S. post the implementation of Affordable Care Act (ACA), easy availability of analytics solutions in this region, prominent venture capital investments in the U.S., and significant government focus on population health management and value-based care.

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The report provides meticulous analysis of global healthcare analytics market by segmenting it on the basis of the basis of type (descriptive analytics, predictive analytics, and prescriptive analytics), component (services, software, and hardware), end-user (provider analytics, payer analytics, and ACOs & MCOs), application (financial analytics, clinical analytics, operational analytics & administrative analytics, and population health analytics), mode of delivery (on-premise, web-based, and cloud-based). Wherein, among components, services segment commanded the largest share in this market primarily due to growing demand for cloud based analytics, recurring need for support services, and lack of IT skills in healthcare industry.

The key players analyzed in the global healthcare analytics market are Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), CitiusTech Inc. (U.S.), Epic Systems Corporation (U.S.), Health Catalyst (U.S.), IBM Corporation (U.S.), Inovalon (U.S.), McKesson Corporation (U.S.), MedeAnalytics, Inc. (U.S.), NextHealth Technologies (U.S.), UnitedHealthcare Group (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), SCIOInspire, Corp. (U.S.), Tableau Software, Inc. (U.S.), TIBCO Software, Inc. (U.S.), Verscend Technologies, Inc. (U.S.), VitreosHealth (U.S.), and Wipro (India).

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Key Topics Covered in This Report:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Health IT and EHR Adoption
4.2.2. Growing Venture Capital Investments
4.2.3. Increasing Pressure to Provide Quality Care & Control Healthcare Costs
4.2.4. Rising Big Data in Healthcare
4.2.5. Technological Advancements
4.3. Restraints
4.3.1. Lack of Data Scientists/Analytics Skills
4.3.2. High Price of Analytics Solutions
4.4. Opportunities
4.4.1. Growing Application of Analytics in Precision Medicine
4.4.2. Increasing Focus on PHM & Value-Based Care
4.4.3. Cloud-Based Analytics
4.5. Challenges
4.5.1. Data Security and Privacy Issues
4.5.2. Reluctance to Migrate from Conventional Systems
4.5.3. Data Integration
4.6. Key Player Analysis

5. Healthcare Analytics Market, by Type

6. Healthcare Analytics Market, by Component
6.1. Introduction
6.2. Services
6.2.1. Support Services
6.2.2. Business Analytics Services
6.3. Software
6.4. Hardware

7. Healthcare Analytics Market, by Mode of Delivery

8. Healthcare Analytics Market, by Application
8.1. Introduction
8.2. Financial Analytics
8.2.1. Claims Analytics
8.2.2. Revenue Cycle Management (RCM)
8.2.3. Payment Integrity & Fraud, Waste & Abuse (FWA)
8.2.4. Risk Adjustment & Risk Assessment
8.3. Clinical Analytics
8.4. Operational Analytics & Administrative Analytics
8.5. Population Health Analytics

9. Healthcare Analytics Market, By End User
9.1. Introduction
9.2. Payer Analytics
9.2.1. Private Payers
9.2.2. Public Payers & Government Agencies
9.2.3. Employers
9.3. Provider Analytics
9.3.1. Hospitals, IDNS & Physician Practices
9.3.2. Post-Acute Care Organizations
9.3.3. Ambulatory Care Settings
9.4. ACOs & MCOs

10. Healthcare Analytics Market, by Geography

11. Competitive Landscape

12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
12.1. Allscripts Healthcare Solutions, Inc.
12.2. Cerner Corporation
12.3. CitiusTech Inc.
12.4. EPIC Systems Corporation
12.5. Health Catalyst
12.6. IBM Corporation
12.7. Inovalon Holdings, Inc.
12.8. Mckesson Corporation (Change Healthcare)
12.9. MedeAnalytics, Inc.
12.10. NextHealth Technologies
12.11. Unitedhealth Group (Optum)
12.12. Oracle Corporation
12.13. SAP SE
12.14. SAS Institute Inc.
12.15. SCIOInspire, Corp.
12.16. Tableau Software, Inc.
12.17. TIBCO Software Inc.
12.18. Verscend Technologies, Inc.
12.19. VitreosHealth
12.20. Wipro Limited

13. Appendix

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

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