Market Overview:
The global healthcare data analytics market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for descriptive, predictive, and prescriptive healthcare data analytics. The descriptive healthcare data analytics segment is expected to hold the largest share of the global healthcare data analytics market in 2018. This segment is expected to grow at a CAGR of 17% during the forecast period from 2018 to 2030.
Product Definition:
Healthcare data analytics is the process of extracting insights and trends from healthcare data in order to improve patient care and health outcomes. The importance of healthcare data analytics cannot be overstated; it can help hospitals and clinics identify areas where they can improve patient care, make more informed decisions about which treatments to offer patients, and even detect early signs of disease. By analyzing large volumes of healthcare data, providers can spot patterns that would otherwise be invisible.
Descriptive Healthcare Data Analytics:
Descriptive healthcare data analytics is a branch of statistics that deals with the collection, analysis, and interpretation of data for the purpose of characterization or description. Descriptive analytics in healthcare provides an understanding about current trends in the market by analyzing large volumes of raw clinical information. It also helps to predict future patterns from historical datasets using descriptive methods.
Predictive Healthcare Data Analytics:
Predictive healthcare data analytics is a branch of statistics that uses historical datasets to predict future outcomes using statistical models. It helps in identifying patterns from the collected patient data and utilizes these predictions for making informed decisions regarding treatment options. In recent times, there has been an upsurge in the adoption of predictive healthcare analytics due to its ability to reduce costs, improve efficiency & effectiveness of care delivery as well as enhance patient satisfaction by providing actionable insights from large volumes of historic datasets.
Application Insights:
The application of healthcare data analytics has witnessed a paradigm shift due to the rising demand for real-time decisions in treatment options. The clinical segment accounted for the largest market share in 2017 and is expected to maintain its dominance over the forecast period. This can be attributed to factors such as increasing volume of electronic medical records, growing investments by governments and private players in developing healthcare infrastructure, technological advancements that have led to reduction in cost associated with data processing, and an increase in focus on improving patient care quality.
The predictive segment is anticipated to witness considerable growth over the forecast period owing to factors such as an increase in demand for population health management, improved efficiency through effective disease management & population therapy optimization which ultimately leads towards reduced expenditure on medication/treatment costs. Furthermore, it helps reduce adverse effects while treating patients thereby enhancing its adoption across various applications within hospitals including admissions & discharge planning; risk adjustment & assessment; strategic decision-making; resource allocation; financial analysis among others (see figure 1).
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of players, increased adoption rate for advanced technologies and high healthcare expenditure are some factors responsible for its growth. According to the World Bank Group, in 2015, U.S spent around 9% of GDP on healthcare expenditure which is higher than most other countries including China (7%) and Japan (5%).
Asia Pacific region is anticipated to witness lucrative growth over the forecast period owing to increasing government initiatives coupled with rising investments by private companies towards development of data analytics solutions focused on improving clinical outcomes at lower costs as compared to western countries.
Growth Factors:
- Increasing demand for big data and analytics services by healthcare providers to improve operational efficiency and patient care.
- The increasing use of health information exchanges (HIEs) and regional health information organizations (RHIOs) for sharing patient data among different healthcare providers is fueling the growth of the healthcare data analytics market.
- The growing adoption of cloud-based solutions by hospitals and other healthcare providers for storing, managing, and analyzing large amounts of data is contributing to the growth of this market.
- The rising demand for predictive analytics services to identify patients at risk for certain diseases or conditions is propelling the growth of this market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Data Analytics Market Research Report
By Type
Descriptive Healthcare Data Analytics, Predictive Healthcare Data Analytics, Prescriptive Healthcare Data Analytics
By Application
Clinical, Hospital, Goverment, Others
By Companies
Allscripts (US), Cerner (US), Health Catalyst (US), IBM (US), Inovalon (US), McKesson (US), MedeAnalytics (US), Optum (US), Oracle (US), SAS (US), Wipro (India), Verscend (US), CitusTech (US), VitreosHealth (US), SCIO Health (US)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
162
Number of Tables & Figures
114
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Data Analytics Market Report Segments:
The global Healthcare Data Analytics market is segmented on the basis of:
Types
Descriptive Healthcare Data Analytics, Predictive Healthcare Data Analytics, Prescriptive Healthcare Data Analytics
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Clinical, Hospital, Goverment, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allscripts (US)
- Cerner (US)
- Health Catalyst (US)
- IBM (US)
- Inovalon (US)
- McKesson (US)
- MedeAnalytics (US)
- Optum (US)
- Oracle (US)
- SAS (US)
- Wipro (India)
- Verscend (US)
- CitusTech (US)
- VitreosHealth (US)
- SCIO Health (US)
Highlights of The Healthcare Data Analytics Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Descriptive Healthcare Data Analytics
- Predictive Healthcare Data Analytics
- Prescriptive Healthcare Data Analytics
- By Application:
- Clinical
- Hospital
- Goverment
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare Data Analytics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Healthcare data analytics is the process of using data to improve patient care. Healthcare data can include information about patients, such as their medical history and current health conditions, as well as information about the healthcare system itself, such as how many patients are being treated and how much money is being spent on each treatment. Healthcare data analytics can help doctors diagnose and treat illnesses more quickly and efficiently, identify potential cost savings opportunities, and recommend new treatments to patients.
Some of the major companies in the healthcare data analytics market are Allscripts (US), Cerner (US), Health Catalyst (US), IBM (US), Inovalon (US), McKesson (US), MedeAnalytics (US), Optum (US), Oracle (US), SAS (US), Wipro (India), Verscend (US), CitusTech (US), VitreosHealth (US), SCIO Health (US).
The healthcare data analytics market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare Data Analytics Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Healthcare Data Analytics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Healthcare Data Analytics Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Healthcare Data Analytics Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Healthcare Data Analytics Market Size & Forecast, 2020-2028
4.5.1 Healthcare Data Analytics Market Size and Y-o-Y Growth
4.5.2 Healthcare Data Analytics Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Descriptive Healthcare Data Analytics
5.2.2 Predictive Healthcare Data Analytics
5.2.3 Prescriptive Healthcare Data Analytics
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Clinical
6.2.2 Hospital
6.2.3 Goverment
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare Data Analytics Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare Data Analytics Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Descriptive Healthcare Data Analytics
9.6.2 Predictive Healthcare Data Analytics
9.6.3 Prescriptive Healthcare Data Analytics
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Clinical
9.10.2 Hospital
9.10.3 Goverment
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Descriptive Healthcare Data Analytics
10.6.2 Predictive Healthcare Data Analytics
10.6.3 Prescriptive Healthcare Data Analytics
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Clinical
10.10.2 Hospital
10.10.3 Goverment
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Descriptive Healthcare Data Analytics
11.6.2 Predictive Healthcare Data Analytics
11.6.3 Prescriptive Healthcare Data Analytics
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Clinical
11.10.2 Hospital
11.10.3 Goverment
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Descriptive Healthcare Data Analytics
12.6.2 Predictive Healthcare Data Analytics
12.6.3 Prescriptive Healthcare Data Analytics
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Clinical
12.10.2 Hospital
12.10.3 Goverment
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Descriptive Healthcare Data Analytics
13.6.2 Predictive Healthcare Data Analytics
13.6.3 Prescriptive Healthcare Data Analytics
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Clinical
13.10.2 Hospital
13.10.3 Goverment
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare Data Analytics Market: Competitive Dashboard
14.2 Global Healthcare Data Analytics Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allscripts (US)
14.3.2 Cerner (US)
14.3.3 Health Catalyst (US)
14.3.4 IBM (US)
14.3.5 Inovalon (US)
14.3.6 McKesson (US)
14.3.7 MedeAnalytics (US)
14.3.8 Optum (US)
14.3.9 Oracle (US)
14.3.10 SAS (US)
14.3.11 Wipro (India)
14.3.12 Verscend (US)
14.3.13 CitusTech (US)
14.3.14 VitreosHealth (US)
14.3.15 SCIO Health (US)
