Healthcare Analytics Market By Type (Descriptive, Predictive, Prescriptive), Component (Service, Software), Application (Clinical, RCM, Claim, Fraud, SCM, PHM), Delivery (On Premise, Web, Cloud), End User (Payer, Hospital, ACO, MCO) – Global Forecast To 2023
Healthcare Analytics Market by Type (Descriptive, Predictive, Prescriptive), Component (Service, Software), Application (Clinical, RCM, Claim, Fraud, SCM, PHM), Delivery (On premise, Web, Cloud), End User (Payer, Hospital, ACO, MCO) - Global Forecast to 2023
The basic objective of healthcare analytics is to assist healthcare expert make and execute rational decision which is data driven, transparent, demonstrable, and robust. The need of advanced analytics is increasing with mounting demand for higher level of transparency by patients in their care decisions, and organizations looking for more ways to control costs while improving quality of care delivered.
Global healthcare analytics market is expected to reach USD 33.8 billion by 2023 from USD 10.8 billion in 2018, at a CAGR of 25.5% during the forecast period (2018-2023).
Succeeding an extensive secondary and primary research on healthcare analytics and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges in the market dynamics segment. Growing investments by venture capitalists, continued pressure to curtail rising healthcare costs, growing demand to improve care quality, implementation of the Affordable Care Act in the U.S., trend towards value-based care, growing digitization in emerging countries, improving HCIT infrastructure and adoption of HCIT solutions such as EMRs and HIE, increasing focus on personalized medicine, advancing IT & big data capabilities, government support for coordinated care, and proliferating accountable care organizations (ACO) are resulting in robust demand for healthcare analytics across the globe. However, lack of data scientists/analytics skills, high price of analytics, and data integration and security issues may hinder the growth of the global healthcare analytics market to some extent.
In addition, the report further gives an extensive outlook on various segments involved in healthcare analytics market. These segments include healthcare analytics market by type, component, mode of delivery, application, end user, and geography.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. The geographical analysis provides detailed insights on the key trends of the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments. The report identifies North America to be the largest market followed by Europe, Asia-Pacific, and the Rest of the World. The geographical analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
The report also includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past years (2015-April 2018). The key strategies adopted by most companies in this market are partnerships/collaborations/strategic alliances/agreements, new product developments, mergers & acquisitions, and expansion.
The key players in the global healthcare analytics market are Allscripts Healthcare Solutions, Inc. (U.S.), Cerner Corporation (U.S.), CitiusTech Inc.(U.S.), Epic Systems Corporation (U.S.), Health Catalyst(U.S.), IBM Corporation (U.S.), Inovalon (U.S.), McKesson Corporation (Change Healthcare)(U.S.), MedeAnalytics, Inc.(U.S.), NextHealth Technologies(U.S.), UnitedHealthcare Group (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), SCIOInspire, Corp. (U.S.), Tableau Software, Inc. (U.S.), TIBCO Software, Inc. (U.S.), Verscend Technologies, Inc. (U.S.), VitreosHealth (U.S.), and Wipro (India) among several others.
Scope of the Report
Market by Type:
Market by Component:
Market by Mode of Delivery:
Market by Application:
Operational Analytics & Administrative Analytics
Population Health Analytics
Market by End User:
Market by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Middle East & Africa