The global healthcare predictive analytics market size reached US$ 9.5 Billion in 2023. Looking forward, the market is projected to reach US$ 46.9 Billion by 2032, exhibiting a growth rate (CAGR) of 19.41% during 2023-2032.
Healthcare predictive analytics refers to advanced software that automatically analyzes data to improve the overall patient outcomes and provides more effective care. It is widely used for remote monitoring, diagnosis, treatment course design, prognosis, clinical decision support, care quality improvement, and care cost reduction purposes. It can store large amounts of data, predict a patient's response and provide a more personalized healthcare experience. Healthcare predictive analytics aids in improving patient healthcare, easing patient diagnosis, detecting patients at higher risks, gaining better insights and enabling healthcare practitioners to make well-informed decisions. Furthermore, the software functions are based on the patient's environment, risk factors, genetics and medical history.
Apart from this, various advancements in technology, such as the integration of the internet of things (IoT) and big data that assists in collecting patient records and test results, analyzing disease patterns, and increasing patient comfort and convenience, are providing an impetus to the market growth. Additionally, the extensive utilization of the software by healthcare payers due to its cost-effectiveness, reduced number of unnecessary tests, fraud detection and improved decision-making is positively impacting the market growth. Other factors, including the increasing geriatric population prone to chronic diseases, significant improvements in healthcare infrastructure, and the implementation of various government initiatives on improving population health management, are anticipated to drive the market further toward growth.
2. What is the expected growth rate of the global healthcare predictive analytics market during 2024-2032?
3. What has been the impact of COVID-19 on the global healthcare predictive analytics market?
4. What are the key factors driving the global healthcare predictive analytics market?
5. What is the breakup of the global healthcare predictive analytics market based on the product?
6. What is the breakup of the global healthcare predictive analytics market based on the deployment mode?
7. What is the breakup of the global healthcare predictive analytics market based on the application?
8. What is the breakup of the global healthcare predictive analytics market based on the end user?
9. What are the key regions in the global healthcare predictive analytics market?
10. Who are the key players/companies in the global healthcare predictive analytics market?
Healthcare predictive analytics refers to advanced software that automatically analyzes data to improve the overall patient outcomes and provides more effective care. It is widely used for remote monitoring, diagnosis, treatment course design, prognosis, clinical decision support, care quality improvement, and care cost reduction purposes. It can store large amounts of data, predict a patient's response and provide a more personalized healthcare experience. Healthcare predictive analytics aids in improving patient healthcare, easing patient diagnosis, detecting patients at higher risks, gaining better insights and enabling healthcare practitioners to make well-informed decisions. Furthermore, the software functions are based on the patient's environment, risk factors, genetics and medical history.
Healthcare Predictive Analytics Market Trends
The significant growth in the healthcare industry across the globe is creating a positive outlook for the market. Healthcare predictive analytics is widely adopted to improve efficiency in clinical operations and health outcomes through enhanced care and patient engagement. In line with this, the increasing adoption of electronic health record (EHR) systems to help in the management of patient outcomes and provide accurate, up-to-date, and complete information is favoring the market growth.Apart from this, various advancements in technology, such as the integration of the internet of things (IoT) and big data that assists in collecting patient records and test results, analyzing disease patterns, and increasing patient comfort and convenience, are providing an impetus to the market growth. Additionally, the extensive utilization of the software by healthcare payers due to its cost-effectiveness, reduced number of unnecessary tests, fraud detection and improved decision-making is positively impacting the market growth. Other factors, including the increasing geriatric population prone to chronic diseases, significant improvements in healthcare infrastructure, and the implementation of various government initiatives on improving population health management, are anticipated to drive the market further toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global healthcare predictive analytics market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product, deployment mode, application and end user.Breakup by Product:
- Hardware
- Software and Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Application:
- Clinical Data Analytics
- Financial Data Analytics
- Research Data Analytics
- Operations Management
- Others
Breakup by End User:
- Healthcare Payer
- Healthcare Provider
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare Solutions Inc., Cerner Corporation, IBM Corporation, McKesson Corporation, MedeAnalytics Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., UnitedHealth Group Incorporated and Verisk Analytics.Key Questions Answered in This Report
1. What was the size of the global healthcare predictive analytics market in 2023?2. What is the expected growth rate of the global healthcare predictive analytics market during 2024-2032?
3. What has been the impact of COVID-19 on the global healthcare predictive analytics market?
4. What are the key factors driving the global healthcare predictive analytics market?
5. What is the breakup of the global healthcare predictive analytics market based on the product?
6. What is the breakup of the global healthcare predictive analytics market based on the deployment mode?
7. What is the breakup of the global healthcare predictive analytics market based on the application?
8. What is the breakup of the global healthcare predictive analytics market based on the end user?
9. What are the key regions in the global healthcare predictive analytics market?
10. Who are the key players/companies in the global healthcare predictive analytics market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Healthcare Predictive Analytics Market
6 Market Breakup by Product
7 Market Breakup by Deployment Mode
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Allscripts Healthcare Solutions Inc.
- Cerner Corporation
- IBM Corporation
- McKesson Corporation
- MedeAnalytics Inc.
- Microsoft Corporation
- Oracle Corporation
- SAS Institute Inc.
- UnitedHealth Group Incorporated
- Verisk Analytics.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 9.5 Billion |
| Forecasted Market Value ( USD | $ 46.9 Billion |
| Compound Annual Growth Rate | 19.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
