The healthcare analytics technology, which extensively uses data for quantitative and qualitative analysis, is undergoing an industry transformation from volume-based medicines and reimbursement to value-based medicines and reimbursement. Factors, such as the sudden emphasis on a more improved quality healthcare, reduced length-of-stay at hospitals, lower costs of healthcare and medicine, and fraud detection, are some of the primary needs of payers of this technology.
The increasing need to improve the efficiency of current healthcare institutions, medical professionals, and medical practices, need to improve quality, and demand to lower the ever increasing healthcare costs are the primary drivers of this market. Accessibility is again a major concern for governments and organizations working in this field. Hence, better quality healthcare facilities accessible to each and every one is motivating the public and private organization to adopt analytics. Additionally, higher incentives for value-based medical services, integration of big data in healthcare, and technological advancements, among others, are some of the drivers of this market.
The healthcare analytics technology also has certain constraints to overcome, such as the wide gap between payers and providers regarding operation and availability, the high cost of initial investments, and lack of technical expertise and sufficient knowledge base. Data integrity and safety is also a key concern.
The global healthcare analytics market can be segmented based on:
Mode of Delivery
North America is expected to command the highest market revenue and is also witnessing the highest growth rate followed by Europe and Asia-Pacific. The global healthcare analytics market can be segmented based on technology/platform (predictive analytics, prescriptive analytics, and descriptive analytics), application (clinical data analytics, financial data analytics, administrative data analytics, and research data analytics), component (software, hardware, and services), deployment (on-premise model and cloud-based model), end-user (healthcare, pharmaceuticals, biotechnology, academia, research, and others), and geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).
Currently, the descriptive analytics segment accounts for the largest market share in healthcare analytics technology but its share is expected to decrease in the coming years, and share of predictive and prescriptive analytics is expected to increase during the forecast period. By application, the clinical analytics segment is forecasted to have the highest growth rate. Although the market growth of the cloud-based services segment is increasing substantially, the on-premise delivery system segment still accounts for the largest share due to its multi-vendor framework.
Some of the key players in this market are:
IBM, Oracle, Cerner Corporation, Mckesson, Optum, Allscripts, 3M, AT&T, HP and SAS
Key Deliverables in the Study
Market analysis for the global healthcare analytics market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities, and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the global healthcare analytics market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.
1.1 Report Description
1.2 Research Methodology
2. Key Inferences
3. Executive Summary
4. Market Dynamics
4.1 Market Drivers
4.1.1 Government Healthcare Policies to Propel the Market Growth
4.1.2 Emergence of Big Data in the Healthcare Industry to Boost the Market Growth
4.1.3 Progress in the Outcome of Clinical Processes Boosting the Market Growth
4.1.4 Increased Focus on Collection and Analysis of Data from Different Sources for Better Customer Service
4.1.5 Technological Advancements Accelerating the Market Growth
4.1.6 Emergence of Social Media and Its Impact on the Healthcare Industry Boosting the Market Growth
4.2 Market Restraints
4.2.1 Lack of Proper Skilled Labour
4.2.2 Data Integrity Issues
4.2.3 Cost & Complexity of Software Hindering the Market Growth
4.2.4 Intensified Competition
4.3 Market Opportunities
4.3.1 Use of Electronic Health Records Critical to the Market Growth
4.3.2 Analytics Driven Personalized Medicine
4.4 Market Threats
4.4.1 Economical Constraints
4.4.2 Data Confidentiality
5. Global Market Segmentation
5.1 Global Healthcare Analytics Market, by Type
18.104.22.168 Predictive Analytics
22.214.171.124 Prescriptive Analytics
126.96.36.199 Descriptive Analytics
188.8.131.52 Clinical Data Analytics
184.108.40.206.1 Quality Healthcare
220.127.116.11.2 Client Relationship Management
18.104.22.168.3 Professional Performance Evaluation
22.214.171.124.4 Reducing the Incidence of Medical Errors
126.96.36.199 Financial Data Analytics
188.8.131.52.1 Risk Management Analytics
184.108.40.206.2 Revenue Generation Analytics
220.127.116.11.3 Insurance Claims Analytics
18.104.22.168 Administrative Data Analytics
22.214.171.124.1 Supply Chain Management Analytics
126.96.36.199.2 Hr Analytics
188.8.131.52.3 Strategy Analytics
184.108.40.206 Research Data Analytics
5.1.4 Mode of Delivery
220.127.116.11 On-Premise Model
18.104.22.168 Cloud - Based Model
22.214.171.124 Web-Hosted Model
126.96.36.199 North America
188.8.131.52.1 United States
184.108.40.206.1 United Kingdom
220.127.116.11.6 Rest of Europe
18.104.22.168.4 South Korea
22.214.171.124.5 Rest of Apac
126.96.36.199 Rest of the World
6. Competitive Landscape
6.1 Mergers and Acquisition Analysis
6.2 Agreements, Collaborations and Partnerships
6.3 New Product Launches
7. Company Profiles
7.1 Ibm Corporation
7.2 Oracle Corporation
7.3 Cerner Corporation
7.4 Mckesson Corporation
7.5 Information Builders, Inc.
7.6 Sas Institute Inc.
7.7 Optum, Inc.
7.8 Allscripts Healthcare Solutions
7.9 3M Company
7.11 Philips Healthcare