Product Code: 978-1-68038-937-1
Healthcare Analytics Market Growth & Trends:
The global healthcare analytics market size is expected to reach USD 167.0 billion in 2030 expanding at a CAGR of 21.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increase in capital investments by the healthcare industry in IT sector for better management and cost-effective patient care are key growth factors for the market. In 2023, on-premises delivery model held the largest revenue share in the delivery mode segment. This has been due to ease of access of data being on the site, i.e., hospitals, etc. This has resulted in better patient monitoring, better management of records, etc., small institutions are manageable for on-premises delivery mode, another option for data storage is cloud-based.
Cloud-based deployment has been emerging delivery mode since it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is commercially more viable option for industries. Financial application was the top grosser in applications category. Most of the industries in healthcare sector are focusing on cutting costs, and maximizing their profit margins, but also are keen on delivering better care to customers. The costs incurred from insurance frauds have been on the rise, with the help of analytics tools, the aim is to find errors in insurance claims, thus reducing the cost of care.
Life-science companies hold the highest revenue share in the market. The companies are constantly looking to improve their products but doing so at a lower cost has been agenda. Analytics play a major role in understanding market dynamics & future business prospects and need of consumers for better product offerings and cost-cutting. Healthcare providers are increasingly adopting analytical platforms for studying and understanding clinical data being generated during the pandemic due to the overall increase in the prevalence of various diseases. The analytical platforms help them deliver better care and understand the dynamics of the spread of diseases and ways to control them.
North America has been a key region in healthcare analytics industry owing to developed healthcare industry. The need for data analytical solutions due to the multitude of patient data has been the largest in the region. Presence of key market players has also been a reason for the largest market share. Asia Pacific is anticipated to grow at the fastest growth rate, due to rapid development, increase in disease burden, and the influx of capital in the healthcare industry are all propelling growth in this region.
The COVID-19 pandemic has resulted in healthcare industry being over-burdened with patient load and an insurmountable amount of data generated from coronavirus studies alone, coupled with other diseases, this presents a huge opportunity for IT firms and start-ups to lap up the information at hand and drive innovation and better ways to deliver care to patients.
Healthcare Analytics Market Report Highlights:
- Based on type, the descriptive analysis segment dominated the market with a revenue share of 35.4% in 2023, owing to its use in understanding historical datasets
- In 2023, the services segment held the largest market share, as most healthcare industries rely on IT companies for their services
- Based on delivery mode, on-premises was the most prominent segment in the market, due to ease of access and security
- Financial applications recorded the highest revenue share in 2023, since healthcare industry has been under the burden to reduce costs and deliver better patient care
- Life science companies dominated the market with a revenue share of 44.3% in 2023 due to the need for companies to develop better products, improve their profits and deliver cost-effective care to patients
- The North American region has been a pioneer in the healthcare data analytics industry owing to the presence of key players in the market
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Definition
- 1.2 Research Scope and Assumptions
- 1.3 Research Process
- 1.3.1 Information Procurement
- 1.4 List to Data Sources
Chapter 2 Executive Summary
Chapter 3 Healthcare Analytics Market Variables, Trends & Scope
- 3.1 Market Segmentation and Scope
- 3.2 Penetration and Growth Prospect Mapping
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.1.1 Pressure To Curb Healthcare Cost
- 3.3.1.2 Emergence Of Advanced Analytics Method
- 3.3.1.3 Growing Demand For Personalized Medication And Treatment
- 3.3.1.4 Rising Impact Of Internet And Social Media On Healthcare
- 3.3.2 Market Restraint Analysis
- 3.3.2.1 Data Privacy And Theft Issues
- 3.3.2.2 Lack Of Skilled Professionals
- 3.4 Healthcare Analytics Market - SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
- 3.5 Industry Analysis - Porter's
- 3.6 Impact of COVID-19 on Healthcare Analytics Market
Chapter 4 Healthcare Analytics Market: Type Estimates & Trend Analysis
- 4.1 Healthcare Analytics Market: Type Movement Analysis
- 4.2 Descriptive
- 4.2.1 Descriptive market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3 Predictive
- 4.3.1 Predictive market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4 Prescriptive
- 4.4.1 Prescriptive market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5 Healthcare Analytics Market: Component Estimates & Trend Analysis
- 5.1 Healthcare Analytics Market: By Component Analysis
- 5.2 Software
- 5.2.1 Software Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3 Services
- 5.3.1 Services Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4 Hardware
- 5.4.1 Hardware market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6 Healthcare Analytics Market: Delivery Estimates & Trend Analysis
- 6.1 Healthcare Analytics Market: By Delivery Analysis
- 6.2 Web-hosted
- 6.2.1 Web-hosted Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3 On-premises
- 6.3.1 On-premises Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4 Cloud-Based
- 6.4.1 Cloud-based Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7 Healthcare Analytics Market: Application Estimates & Trend Analysis
- 7.1 Healthcare Analytics Market: By Application Analysis
- 7.2 Clinical
- 7.2.1 Clinical Market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.3 Financial
- 7.3.1 Financial Market estimates and forecasts, 2018 - 2030 (USD Million)
- 7.4 Operational & Administrative
- 7.4.1 Operational & administrative Analytics Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 8 Healthcare Analytics Market: End-use Estimates & Trend Analysis
- 8.1 Healthcare Analytics Market: By End User Analysis
- 8.2 Life Science Companies
- 8.2.1 life science companies Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.3 Healthcare Payers
- 8.3.1 healthcare payers Market estimates and forecasts, 2018 - 2030 (USD Million)
- 8.4 Healthcare Providers
- 8.4.1 healthcare providers Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 9 Healthcare Analytics Market: Regional Estimates & Trend Analysis, by Type, Component, Delivery Mode, Application, and End-user
- 9.1 Healthcare Analytics Market Share, By Region, 2023 & 2030
- 9.2 North America
- 9.2.1 North America healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.2.2 the U.S.
- 9.2.2.1 U.S. healthcare analytics market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- 9.2.3 Canada
- 9.2.3.1 Canada healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3 Europe
- 9.3.1 Europe healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3.2 the UK
- 9.3.2.1 UK healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3.3 Germany
- 9.3.3.1 Germany healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3.4 France
- 9.3.4.1 France healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3.5 Italy
- 9.3.5.1 Italy healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.3.6 Spain
- 9.3.6.1 Spain healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4 the Asia Pacific
- 9.4.1 Asia Pacific healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4.2 Japan
- 9.4.2.1 Japan healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4.3 China
- 9.4.3.1 China healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4.4 India
- 9.4.4.1 India healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.4.5 South Korea
- 9.4.5.1 South Korea healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.5 Latin America
- 9.5.1 Latin America healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.5.2 Brazil
- 9.5.2.1 Brazil healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.5.3 Mexico
- 9.5.3.1 Mexico healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.6 MEA
- 9.6.1 MEA healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.6.2 South Africa
- 9.6.2.1 South Africa healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.6.3 Saudi Arabia
- 9.6.3.1 Saudi Arabia healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
- 9.6.4 UAE
- 9.6.4.1 UAE healthcare analytics market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 10 Competitive Landscape
- 10.1 Company Profiles
- 10.1.1 IBM corporation
- 10.1.1.1 Company overview
- 10.1.1.2 Financial performance
- 10.1.1.3 Product benchmarking
- 10.1.1.4 Strategic initiatives
- 10.1.2 McKesson corporation
- 10.1.2.1 Company overview
- 10.1.2.2 Financial performance
- 10.1.2.3 Product benchmarking
- 10.1.2.4 Strategic initiatives
- 10.1.3 SAS Institute, Inc
- 10.1.3.1 Company overview
- 10.1.3.2 Financial performance
- 10.1.3.3 Product benchmarking
- 10.1.3.4 Strategic initiatives
- 10.1.4 Optum, Inc
- 10.1.4.1 Company overview
- 10.1.4.2 Financial performance
- 10.1.4.3 Product benchmarking
- 10.1.4.4 Strategic initiatives
- 10.1.5 Oracle
- 10.1.5.1 Company overview
- 10.1.5.2 Financial performance
- 10.1.5.3 Product benchmarking
- 10.1.5.4 Strategic initiatives
- 10.1.6 Verisk analytics, Inc.
- 10.1.6.1 Company overview
- 10.1.6.2 Financial performance
- 10.1.6.3 Product benchmarking
- 10.1.7 Elsevier
- 10.1.7.1 Company overview
- 10.1.7.2 Financial performance
- 10.1.7.3 Product benchmarking
- 10.1.7.4 Strategic initiatives
- 10.1.8 Medeanalytics, inc.
- 10.1.8.1 Company overview
- 10.1.8.2 Financial performance
- 10.1.8.3 Product benchmarking
- 10.1.8.4 Strategic initiatives
- 10.1.9 Truven Health Analytics, Inc. (acquired by IBM Watson Health)
- 10.1.9.1 Company overview
- 10.1.9.2 Product benchmarking
- 10.1.10 Allscripts Healthcare Solutions, Inc.
- 10.1.10.1 Company overview
- 10.1.10.2 Financial performance
- 10.1.10.3 Product benchmarking
- 10.1.10.4 Strategic initiatives
- 10.1.11 Cerner Corporation
- 10.1.11.1 Company overview
- 10.1.11.2 Financial performance
- 10.1.11.3 Product benchmarking
- 10.1.11.4 Strategic initiatives
- 10.1.12 IQVIA
- 10.1.12.1 Company overview
- 10.1.12.2 Financial performance
- 10.1.12.3 Product benchmarking
- 10.1.12.4 Strategic initiatives