Healthcare Analytics Market Soars Pioneering Solutions Transform Patient Care

The healthcare analytics market size is expected to be valued at USD 14.05 billion in 2024 and reach USD 43.57 Billion by 2029, growing at a CAGR of 25.41 % from 2024 to 2029.

Healthcare analytics refers to collecting, analyzing, and interpreting data related to the healthcare industry. It involves using various techniques and tools for patient records, medical histories, clinical data, and operational efficiency. Healthcare analytics can help to improve patient outcomes, enhance the quality of care, reduce costs, and streamline operations in healthcare organizations. These include descriptive, predictive, prescriptive, clinical, and financial analytics.

Global Healthcare Analytics Market Report Scope:
• Market Size (2029): USD 43.57 Billion
• Market Size (2024): USD 14.05 Billion
• CAGR (2024 to 2029): 25.41 %
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Based on Type, Application, End-User, and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: SAS Institute Inc., McKesson, Optum Inc., IBM Corporation, Truven Health Analytics Inc., Cerner Corporation, Verisk Analytics Inc., Allscripts Health Solutions, Oracle Corporation, Mede Analytics Inovalon Inc., and Health Catalyst. are playing a dominant role in the healthcare analytics market.

The increasing benefits of healthcare analytics, like improved patient outcomes, higher quality care, cost savings, and more efficient operations within healthcare institutions, are boosting the global market. The healthcare sector is involved with significant challenges, including the need for improved patient care, escalating treatment costs, and lower patient retention, all demanding healthcare analytics to enhance the healthcare industry. Healthcare analytics is integrated into all industry divisions to enhance patient care and operational efficiency. The increasing integration of big data in healthcare, the growing emphasis on efficiency within the healthcare sector, and the rising imperative to contain healthcare expenses are majorly driving the global market share growth. Healthcare analytics manages unnecessary healthcare costs. For instance, the Organization for Economic Co-operation and Development (OECD) projects that health spending per capita will rise by an average annual rate of 2.7% across the OECD, reaching 10.2% of GDP by 2030.
Furthermore, population health management (PHM), which involves analyzing data from various sources, is experiencing increased adoption, contributing to market growth. For instance, in August 2022, RTI Health Advance announced plans to combine healthcare analytics, digital health, and patient experience to assist provider and payer organizations in developing PHM programs. These initiatives are estimated to provide growth opportunities for the global market during the forecast period.
The increasing use of data analysis tools and technologies to enhance healthcare delivery, patient outcomes, and operational efficiency and the rising technological advancements are augmenting the market's expansion. The market is expected to expand further as healthcare organizations adopt data-driven decision-making features to improve patient outcomes and operational efficiency.

Healthcare data is susceptible, and its protection is governed by strict regulations like HIPAA, limiting market growth. The cost of implementing healthcare analytics solutions can be challenging, particularly for smaller healthcare organizations with limited budgets, which is expected to hinder global market expansion. The shortage of skilled resources, such as data scientists and analysts, for analytics initiatives and the presence of complexity of healthcare data, which includes a combination of structured and unstructured data from various sources, requires advanced analytics capabilities and tools, posing a challenge for many organizations which impedes the market expansion.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/healthcare-analytics-market

Key Insights from The Report:

• Based on Type, the healthcare predictive analytics segment captured highest share of the global market in 2023.
• Based on Application, the clinical analytics segment dominated the market in 2023.
• Based on end-user, the public health systems segment occupied the majority of the global market share in 2023.
• North America dominated the healthcare analytics market in 2023. Europe accounted for second- highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• AMD Global healthcare analytics SAS Institute Inc., McKesson, Optum Inc., IBM Corporation, Truven Health Analytics Inc., Cerner Corporation, Verisk Analytics Inc., Allscripts Health Solutions, Oracle Corporation, MedeAnalytics Inovalon Inc., and Health Catalyst. are dominated the healthcare analytics market.

SEGMENTATION INCLUDED IN THIS REPORT:
By Type:
• Predictive Analytics
• Descriptive/Retrospective Analytics
• Prescriptive Analytics
By Application:
• Financial Analytics
• Clinical Analytics
• Operational & Administrative Analytics
By End User:
• Public Health Systems
• Healthcare Providers
• Private Healthcare Providers
• Monitoring Agencies
• Health Insurance Companies
• Clinical and Medical Research Bodies
• Technology Vendors
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Browse Regional Reports:

North America Healthcare Analytics Market Research Report - Segmented By Type, Application, End-user and Country (U.S, Canada & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/north-america-healthcare-analytics-market

Europe Healthcare Analytics Market Research Report - Segmented By Type, Application, End User and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/europe-healthcare-analytics-market

Asia-Pacific Healthcare Analytics Market Research Report - Segmented By Type, Application, End-User and Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) -https://www.marketdataforecast.com/market-reports/asia-pacific-healthcare-analytics-market

Latin America Healthcare Analytics Market Research Report - Segmented By Type, Application, End-users, Country (Mexico ,Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecast (2023 to 2028) -https://www.marketdataforecast.com/market-reports/latin-america-healthcare-analytics-market

Middle East & Africa Healthcare Analytics Market Research Report - Segmented By Type, Application, End-Users and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from (2023 to 2028 )- https://www.marketdataforecast.com/market-reports/middle-east-and-africa-healthcare-analytics-market

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions

2. Research Methodology

2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline

3. Overview

3.1 Executive Summary
3.2 Key Inferences

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market

5. Market Segmentation

5.1 By Type
5.1.1 Predictive Analytics
5.1.2 Descriptive/Restrospective Analytics
5.1.3 Prescriptive Analytics
5.2 By Application
5.2.1 Financial Analytics
5.2.2 Clinical Analytics
5.2.3 Operational & Administrative Analytics
5.3 By End-user
5.3.1 Public Health Systems
5.3.2 Healthcare Providers
5.3.3 Private Healthcare Providers
5.3.4 Monitoring Agencies
5.3.5 Health Insurance Companies
5.3.6 Clinical and Medical Research Bodies
5.3.7 Technology Vendors

6. Geographical Analysis

6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa

7. Strategic Analysis

7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis

8.1 McKesson
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 SAS Institute Inc
8.3 Optum Inc.
8.4 IBM Corporation
8.5 Truven Health Analytics Inc.
8.6 Cerner Corporation
8.7 Verisk Analytics Inc.
8.8 Allscripts Health Solutions
8.9 Oracle Corporation
8.10 MedeAnalytics Inovalon Inc.
8.11 Health Catalyst

9. Competitive Landscape

9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches

10. Expert Opinions

10.1 Market Outlook
10.2 Investment Opportunities

Appendix

a) List of Tables

b) List of Figures

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