Healthcare Analytics Market Reach USD 96.90 Billion by 2030 | Top Players such as - Optum, Cerner & MedeAnalytics

According to the report published by Allied Market Research, The Healthcare Analytics Market Reach USD 96.90 Billion by 2030 | Top Players such as - Optum, Cerner & MedeAnalytics. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The increase in the adoption of big data in healthcare organizations, rise in government initiatives to escalate the adoption of electronic health records (EHRs) among healthcare organizations, and the growing pressure in the healthcare sector to curb unnecessary expenditure fuel the growth of the global healthcare analytics market.

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The global healthcare analytics market size was valued at USD 23.51 billion in 2020, and is projected to reach USD 96.90 billion by 2030, growing at a CAGR of 15.3% from 2021 to 2030.

The global healthcare analytics market is segmented on the basis of application, component, deployment model, end user, type and region. Depending on application, it is fragmented into financial analysis, operational & administrative analysis and clinical analysis. By component, the market is categorized into hardware software and services. By deployment model, it is bifurcated as on-premise and on-demand. As per end user, the market is categorized into, healthcare payers, healthcare providers and others. On the basis of type, it is classified into descriptive analytics, predictive analytics, and prescriptive analytics. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on application, the financial analysis segment contributed to the largest share in 2020, holding more than two-fifths of the global healthcare analytics market. Rise in need to acclimatize in the ever-changing and unpredictable healthcare landscape drives the growth of the segment. The clinical analysis segment, on the other hand, would grow at the fastest CAGR of 18.5% throughout the forecast period. Growing demand from patients to track their health data and share it with their respective healthcare professionals for additional remedies and advices fuels the segment growth.

By deployment model, the on-premise segment garnered the largest healthcare analytics share and is expected to maintain its dominance in the upcoming years as on-premise software is considered widely useful in large enterprises as software can be implemented on IT infrastructure of a company itself and it provides more security as compared to on-demand. However, the on-demand segment is expected to witness highest growth, owing to a paradigm shift in deployment methods from on-premise to on-demand models.

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Based on region, North America held the major share in 2020, garnering more than half of the global healthcare analytics market, due to increasing adoption of analytics solutions in the healthcare industry and presence of major players in the region. The market across Asia-Pacific would cite the fastest CAGR of 19.4% from 2021 to 2030. Growing government healthcare regulations to reduce the rising healthcare costs and increasing regulatory requirements propel the need for healthcare analytics in the region. This factor drives the market growth in this province.

The key players profiled in the healthcare analytics market analysis are Allscript Healthcare Solution, Cerner Corporation, Health Catalyst, HMS(Vitreoshealth), IBM Corporation, McKesson Corporation, MedeAnalytics, Inc., Oracle Corporation, Optum, Inc., and SAS, Institute. These players have adopted various strategies to increase their market penetration and strengthen their position in the healthcare analytics industry.

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Impact of COVID-19 on Healthcare Analytics Market-

• The outbreak of the pandemic led to increase in demand for upgraded analytics solutions among healthcare organizations to support the establishments during critical situation in the pandemic. This, in turn, has driven the global healthcare analytics market.

• This trend is most likely to continue till the pandemic is completely not over.

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