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Healthcare Analytics Market worth $164.33 billion by 2030, growing at a CAGR of 24.02% - Exclusive Report by 360iResearch
Healthcare Analytics Market | 360iResearch
The Global Healthcare Analytics Market to grow from USD 29.36 billion in 2022 to USD 164.33 billion by 2030, at a CAGR of 24.02%.
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Healthcare analytics involves analyzing data related to healthcare services to gain insights that can be used to improve patient care and health outcomes. Hospitals and healthcare professionals can make more cost-effective decisions that impact patient care with proper healthcare data analysis. The data can be used to improve patient health and clinical outcomes. The healthcare industry is transforming technology advances, adopting electronic health records (EHR) and analytics to streamline healthcare processes. Governments worldwide focus on controlling healthcare fraud related to payments, and healthcare analytics technologies can assist the industry in monitoring fraud activities. However, integration and interoperability with existing models and their limited data privacy provisions impede product penetration. Advanced healthcare analytics technologies based on AI & Big Data with a better focus on safety can assist in addressing these issues. Moreover, increased investments in smart hospital facilities worldwide are expected to accelerate the deployment of healthcare analytics software and services. Market players are introducing different suites of products within healthcare analytics, such as predictive analytics or clinical decision support systems, to elevate their presence across the healthcare sector.
The healthcare analytics market in the Americas is highly innovation-driven, characterized by consistent research activities on advancing data science technologies and a growing focus on the region's hospitals to offer better patient outcomes and cost savings. The region is home to many established big data technology providers constantly working on expanding their healthcare knowledge to upgrade their existing portfolio. The Asia-Pacific region observes a slow and steady growth in healthcare analytics adoption, with many digital transformation initiatives and healthcare startups obtaining new funds for breakthrough diagnostic solutions. Increasing recognition from governments has been observed regarding deploying EHR and population analytics in the Asian region to expand data availability for better monitoring of regional health. Europe is expected to observe a vital increase in the use of healthcare analytics, characterized by the rising number of advances in healthcare infrastructure in the region and a growing number of initiatives for expanding smart hospitals. Programs such as Horizon Europe and the EU4Health initiative have supported digitalization and improved analytics in healthcare.
Market Segmentation & Coverage:
This research report categorizes the Healthcare Analytics Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics. The Descriptive Analytics commanded largest market share of 42.98% in 2022, followed by Predictive Analytics.
Based on Component, market is studied across Services and Software. The Software commanded largest market share of 72.34% in 2022, followed by Services.
Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Premise commanded largest market share of 63.87% in 2022, followed by On-Cloud.
Based on Application, market is studied across Clinical Analytics, Financial Analytics, Operational & Administrative Analytics, and Population Health Analytics. The Operational & Administrative Analytics commanded largest market share of 31.76% in 2022, followed by Financial Analytics.
Based on End-User, market is studied across Academic Organization, Biotechnology Industry, Healthcare Payer, and Healthcare Provider. The Healthcare Provider commanded largest market share of 42.98% in 2022, followed by Healthcare Payer.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.87% in 2022, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Healthcare Analytics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Healthcare Analytics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Healthcare Analytics Market, highlighting leading vendors and their innovative profiles. These include Alteryx, Inc., Apixio, Inc., Arcadia Solutions, LLC, Athenahealth, Inc., Cisco Systems, Inc., CitiusTech Inc., Clarify Health Solutions, Inc., ClosedLoop.ai Inc., Cloudticity, L.L.C, Cotiviti, Inc., Epic Systems Corporation, GE HealthCare Technologies Inc., Google LLC by Alphabet Inc., Health Catalyst, Inc., HealthVerity, Inc., HOKUTO Inc., Inovalon Holdings, Inc., International Business Machines Corporation, IQVIA Inc., McKesson Corporation, MedeAnalytics, Inc., Microsoft Corporation, Optum, Inc., Oracle Corporation, RIB Datapine GmbH, SAP SE, SAS Institute, Inc., Veradigm LLC, Verinovum, Virgin Pulse, and Wipro.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Healthcare Analytics Market, by Technology
7. Healthcare Analytics Market, by Component
8. Healthcare Analytics Market, by Deployment
9. Healthcare Analytics Market, by Application
10. Healthcare Analytics Market, by End-User
11. Americas Healthcare Analytics Market
12. Asia-Pacific Healthcare Analytics Market
13. Europe, Middle East & Africa Healthcare Analytics Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Healthcare Analytics Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Healthcare Analytics Market?
3. What is the competitive strategic window for opportunities in the Healthcare Analytics Market?
4. What are the technology trends and regulatory frameworks in the Healthcare Analytics Market?
5. What is the market share of the leading vendors in the Healthcare Analytics Market?
6. What modes and strategic moves are considered suitable for entering the Healthcare Analytics Market?
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