Healthcare Analytics Market - Industry Trends and Forecast to 2029

Global Healthcare Analytics Market was valued at USD 18.32 billion in 2021 and is expected to reach USD 145.20 billion by 2029, registering a CAGR of 24.58% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Healthcare Analytics Market Dynamics
• This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
The increase in the cost of operations and the decline in reimbursements for laboratory services
• The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for healthcare interoperability solutions across healthcare providers and healthcare payers.
Government investments for healthcare interoperability
• The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.
Regulatory Compliance
• Maintaining compliance with medical reforms and regulations raises the demand for these solutions.
The rise in the adoption of electronic health records (EHR)
• It is a challenge to store the bulk data generated by the electronic health records (EHR) on the local storage devices due to the risk associated with the loss of essential data. Hence, deploying these healthcare analytics in the healthcare sector becomes critical to enable easy sharing and storage of big data.
Opportunities
Global Healthcare Analytics Market Scope and Market Size
• The healthcare analytics market is segmented on the basis of type, component, delivery model, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
• Prescriptive Analytics
• Predictive Analytics
• Descriptive Analytics
• On the basis of type, the market is segmented into prescriptive analytics, predictive analytics and descriptive analytics.
Component
• Services
• Software
• Hardware
• On the basis of component, the market is segmented into services, software and hardware. The services segment is sub-segmented into support services and business analytics services.
Delivery Model
• On-Demand
• On Premise
• On the basis of delivery model, the market is segregated into on-demand and on premise.
Application
• Clinical Analytics
• Population Health Analytics
• Operational and Administrative Analytics
• Financial Analytics
• On the basis of application, the market is segmented into clinical analytics, population health analytics, operational and administrative analytics and financial analytics. The clinical analytics segment is sub-segmented into quality improvement and clinical benchmarking, clinical decision support, regulatory reporting and compliance, comparative analytics/ effectiveness and precision health. The financial analytics segment is sub-segmented into claims processing, revenue cycle management (RCM), payment integrity and fraud, waste, and abuse (FWA) and risk adjustment and risk assessment. The operational and administrative analytics segment is sub-segmented into supply chain analytics, workforce analytics, enterprise performance, supply chain analytics, market intelligence, research analytics and strategic analytics. The population health analytics segment is sub-segmented into population risk management, population care management, patient engagement, clinical outcome management and activity-based costing.
End User
• Healthcare Payers
• Healthcare Providers
• ACOS
• HIES
• MCOS
• TPAS
• On the basis of end user, the market is segmented into healthcare payers, healthcare providers and ACOS, HIES, MCOS, and TPAS.
Healthcare Analytics Market Regional Analysis/Insights
• The countries covered in the healthcare analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Healthcare Analytics Market Share Analysis
• The healthcare analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare analytics market.
Some of the major players operating in the healthcare analytics market are
• IBM (US),
• Wipro Limited (India),
• Allscripts Healthcare, LLC (US),
• Cerner Corporation (US),
• Health Catalyst (US),
• Inovalon (US),
• McKesson Corporation (US),
• MEDEANALYTICS, INC. (US),
• Optum, Inc. (US),
• Oracle (US),
• SAS Institute Inc. (US),
• ExlService Holdings, Inc. (US),
• CitiusTech Inc. (US),
• IQVIA (US),
• GENERAL ELECTRIC (US).
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MAJOR TOC OF THE REPORT
INTRODUCTION
MARKET SEGMENTATION
EXECUTIVE SUMMARY
PREMIUM INSIGHTS
MARKET OVERVIEW
QUESTIONNAIRE
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