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Predictive Disease Analytics Market Top Companies Study - SAS; Allscripts Healthcare Solutions Inc.; MedeAnalytics, Inc.; Health Catalyst.
Predictive Disease Analytics Market
The Global Predictive Disease Analytics Market is estimated to reach over 12.93 billion by the year 2031, exhibiting a CAGR of 21.19% during the forecast period.
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Predictive analytics, a specialized subset of advanced analytics, employs methodologies such as modeling, data mining, statistical techniques, and artificial intelligence (AI) to generate forecasts and optimize decision-making processes. The convergence of predictive analytics with big data and advanced insights enhances operational efficiencies in healthcare and enables more accurate diagnosis and treatment within personalized medicine. Market expansion is primarily driven by the imperative to improve healthcare delivery efficiency, the rise of personalized and evidence-based therapeutic approaches, and the growing focus on cost reduction through the elimination of unnecessary expenditures. Furthermore, increased adoption of predictive analytics tools in the healthcare sector is bolstered by supportive government initiatives and heightened financial investments, collectively accelerating market growth.
List of Prominent Players in the Predictive Disease Analytics Market:
• Oracle
• IBM
• SAS
• Allscripts Healthcare Solutions Inc.
• MedeAnalytics, Inc.
• Health Catalyst
• Apixio Inc.
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Market Dynamics
Drivers:
The healthcare industry is increasingly confronted with challenges such as escalating treatment costs, suboptimal patient care, and low levels of patient engagement and retention. In response, there is a growing adoption of predictive disease analytics aimed at enhancing operational efficiency and improving patient outcomes, thereby driving market growth. For instance, in November 2022, Hartford HealthCare entered into a long-term collaboration with Google Cloud to accelerate the digital transformation of its healthcare system, enhancing data analytics capabilities to better support patient care. Furthermore, the COVID-19 pandemic has catalyzed market expansion by heightening the demand for digital solutions and advanced analytical tools to monitor and manage patient populations more effectively.
Challenges:
The slow uptake of digital health solutions is largely attributed to concerns over patient data privacy and the rising incidence of data breaches. Healthcare organizations maintain comprehensive patient records containing highly sensitive information-including personal identifiers and payment details-making them prime targets for cyberattacks. This has led to patient hesitancy in sharing medical records with digital platforms. The increasing frequency of healthcare data breaches is expected to impede the widespread adoption of digital health technologies, including predictive disease analytics, in the foreseeable future.
Regional Trends:
North America is expected to maintain a dominant share of the predictive disease analytics market by revenue and is projected to demonstrate robust growth in the coming years. The region benefits from advanced healthcare infrastructure, which facilitates the adoption of analytics platforms. Additionally, the growing prevalence of chronic diseases and an expanding elderly population are key factors driving demand for predictive analytics tools across hospitals and healthcare facilities. The concentration of major industry stakeholders further strengthens North America's market position. The Asia Pacific region also holds a significant market presence, supported by proactive government initiatives and increased healthcare expenditure. Market growth in this region is driven by demographic shifts such as an aging population and rising chronic disease rates, presenting substantial opportunities for business expansion.
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Recent Developments:
• In January 2023, SwitchPoint Ventures and Ardent Health Service collaborated to open an innovation studio. The studio's main priorities will be creating and implementing data-driven solutions. Polaris, SwitchPoint's ground-breaking technology for precisely forecasting patient volume in any healthcare context, has also been adopted by Ardent.
Segmentation of Predictive Disease Analytics Market-
By Component
• Software & Services
• Hardware
By Deployment
• On-premise
• Cloud-based
By End User
• Healthcare Payers
• Healthcare Providers
• Other End Users
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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