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Healthcare Analytics Market Size, Share & Trends Analysis Report by Type, by Component, by Delivery Mode, by Application, by End-use, and Segment Forecasts, 2022-2030

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    Report

  • 150 Pages
  • April 2022
  • Region: Global
  • Grand View Research
  • ID: 5450221
The global healthcare analytics market size is expected to reach USD 167 billion expanding at a CAGR of 21.5% from 2022 to 2030. The increase in capital investments by the healthcare industry in the IT sector for better management and cost-effective patient care are key growth factors for the healthcare analytics market.



Descriptive analytics holds the biggest revenue share, its use in studying historical data has been successfully and widely adopted during the pandemic for studies on patient populations, the current method of analysis has been studying historical data to devise actionable insights for professionals to act on. Predictive analytics accounted for the fastest growth owing to the ability to provide future prospects for growth and for delivering better results..

By component, the services component had the largest revenue share in 2021, owing to the majority of healthcare institutes outsourcing their data analytics to third-party vendors. A large number of data analytics companies have been collaborating with the institutions to deliver meaningful insights for better patient care and for maximizing their profits by cost-cutting. Better patient monitoring, and care are key factors for the growth of this component.

The on-premises delivery model holds the largest revenue share in the delivery mode segment. This has been due to the ease of access of data being on the site, i.e., at 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 the emerging delivery mode due to the fact that it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is a commercially more viable option for industries.

The financial application was the top grosser in the applications category. Most of the industry in the healthcare sector is 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.

The life-science companies hold the highest revenue share amongst the end-users in the market. The companies are constantly looking to improve their products but doing so at a lower cost has been the agenda. Analytics plays a major role in understanding the market dynamics & future business prospects and the 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 the healthcare analytics market, owing to the developed healthcare industry, the need for data analytical solutions due to the multitude of patient data has been the largest in the region. The presence of key market players has also been a reason for the largest market share. The fastest-growing region was the Asia Pacific, due to rapid development, increase in disease burden, the influx of capital in the healthcare industry are all propelling growth in this region.

COVID-19 pandemic has resulted in the healthcare industry being over-burdened with patient load and an insurmountable amount of data generated from the 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

  • The descriptive analysis had a market share of 37.1% in 2021, owing to its use in understanding historical datasets.
  • The services segment was the largest component, due to the majority of healthcare industries relying on IT companies for their services.
  • On-premises delivery mode was the most prominent in the market, due to ease of access and security.
  • Financial applications recorded the highest revenue share owing to the fact that the healthcare industry has been under the burden to reduce costs and deliver better patient care, together.
  • Life science companies were the largest end-users due to the need for companies to develop better products, improve their profits and deliver cost-effective care to patients has been a priority.
  • The North American region has been a pioneer in the healthcare data analytics industry owing to the presence of key players in the market.


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Frequently Asked Questions about the Global Healthcare Analytics Market

What is the estimated value of the Global Healthcare Analytics Market?

The Global Healthcare Analytics Market was estimated to be valued at $35.3 Billion in 2022.

What is the growth rate of the Global Healthcare Analytics Market?

The growth rate of the Global Healthcare Analytics Market is 21.5%, with an estimated value of $167 Billion by 2030.

What is the forecasted size of the Global Healthcare Analytics Market?

The Global Healthcare Analytics Market is estimated to be worth $167 Billion by 2030.

Who are the key companies in the Global Healthcare Analytics Market?

Key companies in the Global Healthcare Analytics Market include IBM corporation, Mckesson corporation, SAS INstitute, inc, Optum, inc, Oracle, Verisk analytics, inc., Elsevier, Medeanalytics, inc. and Allscripts Healthcare Solutions, Inc..

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
2.1 Market Snapshot
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, 2017-2030 (USD Million)
4.3 Predictive
4.3.1 Predictive market revenue estimates and forecasts, 2017-2030 (USD Million)
4.4 Prescriptive
4.4.1 Prescriptive market revenue estimates and forecasts, 2017-2030 (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, 2017-2030 (USD Million)
5.3 Services
5.3.1 Services Market estimates and forecasts, 2017-2030 (USD Million)
5.4 Hardware
5.4.1 Hardware market estimates and forecasts, 2017-2030 (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, 2017-2030 (USD Million)
6.3 On-premises
6.3.1 On-premises Market estimates and forecasts, 2017-2030 (USD Million)
6.4 Cloud-Based
6.4.1 Cloud-based Market estimates and forecasts, 2017-2030 (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, 2017-2030 (USD Million)
7.3 Financial
7.3.1 Financial Market estimates and forecasts, 2017-2030 (USD Million)
7.4 Operational & Administrative
7.4.1 Operational & administrative Analytics Market estimates and forecasts, 2017-2030 (USD Million)
Chapter 8 Healthcare Analytics Market: End-user 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, 2017-2030 (USD Million)
8.3 Healthcare Payers
8.3.1 healthcare payers Market estimates and forecasts, 2017-2030 (USD Million)
8.4 Healthcare Providers
8.4.1 healthcare providers Market estimates and forecasts, 2017-2030 (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, 2020 & 2030
9.2 North America
9.2.1 North America healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.2.2 the U.S.
9.2.2.1 U.S. healthcare analytics market revenue estimates and forecasts, 2017-2030 (USD Million)
9.2.3 Canada
9.2.3.1 Canada healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3 Europe
9.3.1 Europe healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3.2 the U.K.
9.3.2.1 U.K. healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3.3 Germany
9.3.3.1 Germany healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3.4 France
9.3.4.1 France healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3.5 Italy
9.3.5.1 Italy healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.3.6 Spain
9.3.6.1 Spain healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.4 the Asia Pacific
9.4.1 Asia Pacific healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.4.2 Japan
9.4.2.1 Japan healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.4.3 China
9.4.3.1 China healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.4.4 India
9.4.4.1 India healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.4.5 South Korea
9.4.5.1 South Korea healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.5 Latin America
9.5.1 Latin America healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.5.2 Brazil
9.5.2.1 Brazil healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.5.3 Mexico
9.5.3.1 Mexico healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.6 MEA
9.6.1 MEA healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.6.2 South Africa
9.6.2.1 South Africa healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.6.3 Saudi Arabia
9.6.3.1 Saudi Arabia healthcare analytics market estimates and forecasts, 2017-2030 (USD Million)
9.6.4 UAE
9.6.4.1 UAE healthcare analytics market estimates and forecasts, 2017-2030 (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

Companies Mentioned

  • IBM corporation
  • Mckesson corporation
  • SAS INstitute, inc
  • Optum, inc
  • Oracle
  • Verisk analytics, inc.
  • Elsevier
  • Medeanalytics, inc.
  • Truven Health Analytics, Inc. (acquired by IBM Watson Health)
  • Allscripts Healthcare Solutions, Inc.
  • Cerner Corporation
  • IQVIA

Methodology

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