Market Overview:
The global healthcare/medical analytics market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for big data and advanced analytics in the healthcare industry, rising prevalence of chronic diseases, and growing need for cost-effective and quality healthcare services. The global healthcare/medical analytics market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into prescriptive analytics, descriptive analytics, and predictive analytics. Prescriptive Analytics helps identify what should be done to achieve specific goals while descriptive Analytics summarizes past performance or current state while predictive Analytics uses historical data along with other factors (e.g., demographic) to forecast future events or trends). By application, the market is divided into three segments: Healthcare Payers (health insurance companies), Healthcare Providers (hospitals & clinics), and Others (pharmaceuticals companies & medical device manufacturers).
Product Definition:
Healthcare/Medical Analytics is the process of collecting, organizing and analyzing healthcare data in order to improve patient care. The importance of Healthcare/Medical Analytics is that it can help healthcare providers identify patterns and trends in patient data that can help improve treatment plans and outcomes.
Prescriptive:
Prescriptive analytics is the branch of statistics that aims at prediction and forecast of future events based on historical data. It uses logical reasoning, axiomatic methodologies, and rules to derive meaningful insights from raw data. Prescriptive analytics has gained popularity in recent years due to its ability to offer actionable insights that help organizations make better decisions for current as well as long-term planning purposes.
Descriptive:
Descriptive analytics is a branch of statistics that aims at representing data in terms of concepts, not numbers. It focuses on the description and analysis of variables to provide insights regarding patterns or trends in the data. Descriptive analytics has applications across several fields such as healthcare/medical, consumer packaged goods (CPG), manufacturing industry, etc., which include research & development activities for new product development and competitive intelligence among others.
Application Insights:
Healthcare payers held the largest share of over 70.0% in 2017. Increasing demand for cost control and reduction in fraud is driving this segment. Rising awareness among all the players involved in healthcare value chain about financial gains from analytics is expected to boost market growth over the forecast period.
The providers¢â‚¬â„¢ segment is expected to register a significant CAGR of XX% during the forecast period owing to rising adoption of prescriptive analytics for dispensing medicine correctly and efficiently as well as reducing medication errors & costs associated with re-administration of drugs & treatments, which are estimated to be reduced through predictive modeling techniques used by providers across various applications such as disease management, patient engagement, population health management, and clinical decision support systems among others ¢â‚¬Æ’Åš°¢â‚¬°).
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of players, favorable government initiatives, and increasing demand for efficient healthcare services are some factors driving the growth. According to an article published in Health Care Analytics Review, there were over 6 million active prescriptions recorded in 2015 and this number is expected to grow by 2035 with a CAGR of XX%. Thus, it can be concluded that North America has one of the highest prescription volumes globally.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to rising investments by governments as well as private companies for improving healthcare facilities coupled with growing awareness regarding chronic diseases among people living in developing countries such as India & China & Indonesia etc. Growing geriatric population will also drive regional market growth over the forecast period due to rising incidences associated with chronic diseases such as cardiovascular disease (CVD), cancer, diabetes etc.
Growth Factors:
- Increasing demand for personalized medicine and preventive care
- Rising incidence of chronic diseases and growing geriatric population
- Growing need to curtail healthcare costs and improve efficiency of healthcare delivery systems
- Proliferation of big data and advances in analytics technologies
- Government initiatives to promote use of health information technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare/Medical Analytics Market Research Report
By Type
Prescriptive, Descriptive, Predictive
By Application
Healthcare Payers, Healthcare Providers, Others
By Companies
IBM Corporation, OptumHealth,Inc., Oracle Corporation, VeriskAnalytics, MEDai, MedeAnalytics, McKesson Corporation, Truven Health Analytics, Allscripts Healthcare Solutions, Cerner Corporation, SAS Institute
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare/Medical Analytics Market Report Segments:
The global Healthcare/Medical Analytics market is segmented on the basis of:
Types
Prescriptive, Descriptive, Predictive
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
Healthcare Payers, Healthcare Providers, 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:
- IBM Corporation
- OptumHealth,Inc.
- Oracle Corporation
- VeriskAnalytics
- MEDai
- MedeAnalytics
- McKesson Corporation
- Truven Health Analytics
- Allscripts Healthcare Solutions
- Cerner Corporation
- SAS Institute
Highlights of The Healthcare/Medical 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:
- Prescriptive
- Descriptive
- Predictive
- By Application:
- Healthcare Payers
- Healthcare Providers
- 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/Medical 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.
How you may use our products:
- Correctly Positioning New Products
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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/Medical Analytics is the application of analytics to healthcare and medical data. Healthcare/Medical Analytics can help identify trends, patterns, and relationships in patient data that can improve care and save lives.
Some of the major companies in the healthcare/medical analytics market are IBM Corporation, OptumHealth,Inc., Oracle Corporation, VeriskAnalytics, MEDai, MedeAnalytics, McKesson Corporation, Truven Health Analytics, Allscripts Healthcare Solutions, Cerner Corporation, SAS Institute.
The healthcare/medical analytics market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare/Medical 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/Medical Analytics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Healthcare/Medical 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/Medical 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/Medical Analytics Market Size & Forecast, 2020-2028
4.5.1 Healthcare/Medical Analytics Market Size and Y-o-Y Growth
4.5.2 Healthcare/Medical 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 Prescriptive
5.2.2 Descriptive
5.2.3 Predictive
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 Healthcare Payers
6.2.2 Healthcare Providers
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare/Medical 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/Medical 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 Prescriptive
9.6.2 Descriptive
9.6.3 Predictive
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 Healthcare Payers
9.10.2 Healthcare Providers
9.10.3 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 Prescriptive
10.6.2 Descriptive
10.6.3 Predictive
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 Healthcare Payers
10.10.2 Healthcare Providers
10.10.3 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 Prescriptive
11.6.2 Descriptive
11.6.3 Predictive
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 Healthcare Payers
11.10.2 Healthcare Providers
11.10.3 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 Prescriptive
12.6.2 Descriptive
12.6.3 Predictive
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 Healthcare Payers
12.10.2 Healthcare Providers
12.10.3 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 Prescriptive
13.6.2 Descriptive
13.6.3 Predictive
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 Healthcare Payers
13.10.2 Healthcare Providers
13.10.3 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/Medical Analytics Market: Competitive Dashboard
14.2 Global Healthcare/Medical Analytics Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM Corporation
14.3.2 OptumHealth,Inc.
14.3.3 Oracle Corporation
14.3.4 VeriskAnalytics
14.3.5 MEDai
14.3.6 MedeAnalytics
14.3.7 McKesson Corporation
14.3.8 Truven Health Analytics
14.3.9 Allscripts Healthcare Solutions
14.3.10 Cerner Corporation
14.3.11 SAS Institute
