Global Healthcare Analytics Market is valued at approximately USD 29.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 21.5% over the forecast period 2022-2029. Healthcare analytics enables healthcare professionals to identify opportunities to enhance workflow, patient engagement, care delivery, and clinical results. Real-time and historical data are combined in healthcare data analytics to find patterns, provide actionable insights, progress medicine, and stimulate long-term growth. Additionally, healthcare analytics systems require enormous amounts of acquired data to give enterprises useful insights. Factors such as a rising focus on improving patient outcomes and curbing healthcare spending, increasing capital investments in healthcare analytics start-ups, coupled with the increasing trend of real-world evidence are the key driving factors for the global market growth.
Additionally, the surge in the adoption of electronic health records (EHR) is further stipulating the market demand in the global market. As per the Statista analysis, in 2020, the EHR market was estimated to be worth around USD 29.16 billion worldwide, which is anticipated to rise to USD 47.25 billion by 2027. Thus, growing initiatives for electronic health records adoption, as well as increasing technological advancements is excelling the market expansion across the world. Furthermore, increasing penetration of analytics in precision and personalized medicines, as well as growing preference towards cloud-based analytics are presenting various lucrative opportunities over the forecasting years. However, the rising data breach concerns and the high cost of analytics solutions in healthcare organizations are hindering market growth over the forecast period of 2022-2029.
The key regions considered for the Global Healthcare Analytics Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the greater accessibility of analytics solutions & services, along with the rising adoption of personalized medicine & value-based medicine. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the growing geriatric population, rising burden of chronic ailments, as well as the reliance of consumers and healthcare providers on IT are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
- McKesson Corporation
- Optum, Inc.
- IBM Corporation
- Oracle Corporation
- SAS Institute, Inc.
- Verisk Analytics, Inc.
- Medeanalytics, Inc.
- Truven Health Analytics, Inc.
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
Recent Developments in the Market:
- In July 2022, Francisco Partners announced that the company acquired healthcare data and analytics assets that were part of IBM's Watson Health business. The products and data sets that Francisco Partners has acquired encompass a wide range of categories, including MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software services.
- In October 2022, Oracle corporation entered into an agreement with WellSpan Health, which aims on enhance its reduce costs, operational insights, improve the team member experience, and support its future expansion.
Global Healthcare Analytics Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Type, Delivery Mode, Application, End-user, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
- Software
- Services
- Hardware
By Type:
- Descriptive
- Predictive
- Prescriptive
By Delivery Mode:
- Web Hosted
- Cloud-based
- On-premises
By Application:
- Clinical
- Financial
- Operational & Administrative
By End-user:
- Life Science Companies
- Healthcare Payers
- Healthcare Providers
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Healthcare Analytics Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Healthcare Analytics Market, by Component, 2019-2029 (USD Billion)
- 1.2.3. Healthcare Analytics Market, by Type, 2019-2029 (USD Billion)
- 1.2.4. Healthcare Analytics Market, by Delivery Mode, 2019-2029 (USD Billion)
- 1.2.5. Healthcare Analytics Market, by Application, 2019-2029 (USD Billion)
- 1.2.6. Healthcare Analytics Market, by End-user, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Healthcare Analytics Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Healthcare Analytics Market Dynamics
- 3.1. Healthcare Analytics Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing capital investments in healthcare analytics start-ups
- 3.1.1.2. Surge in the adoption of electronic health records (EHR)
- 3.1.2. Market Challenges
- 3.1.2.1. Rising data breach concerns
- 3.1.2.2. High cost of analytics solutions in healthcare organizations
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing penetration of analytics in precision and personalized medicines
- 3.1.3.2. Growing preference towards the cloud-based analytics
Chapter 4. Global Healthcare Analytics Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Healthcare Analytics Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Healthcare Analytics Market by Component, Performance - Potential Analysis
- 6.3. Global Healthcare Analytics Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
- 6.4. Healthcare Analytics Market, Sub Segment Analysis
- 6.4.1. Software
- 6.4.2. Services
- 6.4.3. Hardware
Chapter 7. Global Healthcare Analytics Market, by Type
- 7.1. Market Snapshot
- 7.2. Global Healthcare Analytics Market by Type, Performance - Potential Analysis
- 7.3. Global Healthcare Analytics Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
- 7.4. Healthcare Analytics Market, Sub Segment Analysis
- 7.4.1. Descriptive
- 7.4.2. Predictive
- 7.4.3. Prescriptive
Chapter 8. Global Healthcare Analytics Market, by Delivery Mode
- 8.1. Market Snapshot
- 8.2. Global Healthcare Analytics Market by Delivery Mode, Performance - Potential Analysis
- 8.3. Global Healthcare Analytics Market Estimates & Forecasts by Delivery Mode 2019-2029 (USD Billion)
- 8.4. Healthcare Analytics Market, Sub Segment Analysis
- 8.4.1. Web Hosted
- 8.4.2. Cloud-based
- 8.4.3. On-premises
Chapter 9. Global Healthcare Analytics Market, by Application
- 9.1. Market Snapshot
- 9.2. Global Healthcare Analytics Market by Application, Performance - Potential Analysis
- 9.3. Global Healthcare Analytics Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 9.4. Healthcare Analytics Market, Sub Segment Analysis
- 9.4.1. Clinical
- 9.4.2. Financial
- 9.4.3. Operational & Administrative
Chapter 10. Global Healthcare Analytics Market, by End-user
- 10.1. Market Snapshot
- 10.2. Global Healthcare Analytics Market by End-user, Performance - Potential Analysis
- 10.3. Global Healthcare Analytics Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
- 10.4. Healthcare Analytics Market, Sub Segment Analysis
- 10.4.1. Life Science Companies
- 10.4.2. Healthcare Payers
- 10.4.3. Healthcare Providers
Chapter 11. Global Healthcare Analytics Market, Regional Analysis
- 11.1. Healthcare Analytics Market, Regional Market Snapshot
- 11.2. North America Healthcare Analytics Market
- 11.2.1. U.S. Healthcare Analytics Market
- 11.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 11.2.1.2. Type breakdown estimates & forecasts, 2019-2029
- 11.2.1.3. Delivery Mode breakdown estimates & forecasts, 2019-2029
- 11.2.1.4. Application breakdown estimates & forecasts, 2019-2029
- 11.2.1.5. End-user breakdown estimates & forecasts, 2019-2029
- 11.2.2. Canada Healthcare Analytics Market
- 11.3. Europe Healthcare Analytics Market Snapshot
- 11.3.1. U.K. Healthcare Analytics Market
- 11.3.2. Germany Healthcare Analytics Market
- 11.3.3. France Healthcare Analytics Market
- 11.3.4. Spain Healthcare Analytics Market
- 11.3.5. Italy Healthcare Analytics Market
- 11.3.6. Rest of Europe Healthcare Analytics Market
- 11.4. Asia-Pacific Healthcare Analytics Market Snapshot
- 11.4.1. China Healthcare Analytics Market
- 11.4.2. India Healthcare Analytics Market
- 11.4.3. Japan Healthcare Analytics Market
- 11.4.4. Australia Healthcare Analytics Market
- 11.4.5. South Korea Healthcare Analytics Market
- 11.4.6. Rest of Asia Pacific Healthcare Analytics Market
- 11.5. Latin America Healthcare Analytics Market Snapshot
- 11.5.1. Brazil Healthcare Analytics Market
- 11.5.2. Mexico Healthcare Analytics Market
- 11.5.3. Rest of Latin America Healthcare Analytics Market
- 11.6. Rest of The World Healthcare Analytics Market
Chapter 12. Competitive Intelligence
- 12.1. Top Market Strategies
- 12.2. Company Profiles
- 12.2.1. McKesson Corporation
- 12.2.1.1. Key Information
- 12.2.1.2. Overview
- 12.2.1.3. Financial (Subject to Data Availability)
- 12.2.1.4. Product Summary
- 12.2.1.5. Recent Developments
- 12.2.2. Optum, Inc.
- 12.2.3. IBM Corporation
- 12.2.4. Oracle Corporation
- 12.2.5. SAS Institute, Inc.
- 12.2.6. Verisk Analytics, Inc.
- 12.2.7. Medeanalytics, Inc.
- 12.2.8. Truven Health Analytics, Inc.
- 12.2.9. Allscripts Healthcare Solutions, Inc.
- 12.2.10. Cerner Corporation
Chapter 13. Research Process
- 13.1. Research Process
- 13.1.1. Data Mining
- 13.1.2. Analysis
- 13.1.3. Market Estimation
- 13.1.4. Validation
- 13.1.5. Publishing
- 13.2. Research Attributes
- 13.3. Research Assumption