Market Overview:
The global healthcare analytics/medical analytics market is expected to grow at a CAGR of 16.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for big data and advanced analytical tools for decision-making in the healthcare sector, rising incidence of chronic diseases, and growing need for cost-effective and efficient healthcare delivery systems. The global healthcare analytics/medical analytics market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into deploy health care analysis internally and random health care analysis. Deploy health care analysis internally is further subsegmented into stand-alone software deployment models and integrated software deployment models. Random health care analysis includes business intelligence (BI) services offered by third-party providers that use preconfigured analytical algorithms or custom algorithms developed by them as per customer requirements). On the basis of application, the market is segmented into pharmaceutical companies, medical device companies, hospitals & clinics, payers & insurance companies), research institutes & universities),and others (elderly homes & long term care facilities). Geographically,the global healthcare analytics/medical analyticsmarketis dividedinto five regions: North America,, Latin America,, Europe,, Asia Pacific,,and Middle East& Africa ).
Product Definition:
The term "healthcare analytics" is used to describe the process of analyzing data in order to improve healthcare decisions and outcomes. This may include analyzing data on patient populations, treatments, costs, and outcomes. The goal of healthcare analytics is to use data to identify areas where improvements can be made, and then implement changes that result in better care for patients.
Deploy Health Care Analysis Internally:
Deploy health care analysis internally is the process of getting a medical device or software solution off the shelf and installing it within an organization. The main driver for this market is increasing demand for advanced analytics in healthcare coupled with growing penetration of cloud computing technology.
Random Health Care Analysis:
The global random health care analysis and it's usage in healthcare analytics/medical analytics market size was valued at USD 6.5 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Application Insights:
The pharmaceutical segment dominated the global healthcare analytics/medical analytics market in 2017. This is attributed to factors such as increasing demand for precision medicines, growing investments by companies in R&D and new product development, and an increase in government initiatives that encourage innovation. For instance, the European Commission has invested approximately USD 1.9 billion from 2014 to 2020 on a initiative called ¢â‚¬Å“Horizon 2020¢â‚¬ which encourages innovative medical technologies for patient benefit through research & development activities of large scale clinical trials.
Medical device companies are also anticipated to witness lucrative growth over the forecast period due to factors such as increasing adoption of electronic health records (EHRs), rising investment by manufacturers for developing advanced products with enhanced functionality, and favorable government regulations that support technological advancements related to medical devices & equipment manufacturing sector.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of players, high adoption rate for advanced technologies, and the rising need to streamline operations are some factors driving this regional market. Moreover, increasing government funding and initiatives taken by organizations such as the National Institute for Health Care Analytics (NICTA), are expected to propel growth over the forecast period.
The Asia Pacific region is anticipated to witness lucrative growth over the forecast period owing to improving healthcare infrastructure coupled with growing awareness about analytics among hospitals & clinics and an increase in investments from public & private entities. Furthermore, favorable regulatory policies that enable easy access to capital is also expected drive demand in this region thereby complementing regional growth.
Growth Factors:
- Increasing demand for better and faster healthcare services is expected to drive the growth of the healthcare analytics market.
- The growing popularity of big data and its increasing use in various industries is also expected to fuel the growth of the healthcare analytics market.
- The increasing focus on reducing costs and improving efficiency in the healthcare sector is also anticipated to boost demand for healthcare analytics solutions over the forecast period.
- The rising incidence of chronic diseases, which leads to increased need for timely diagnosis and treatment, is also projected to propel growth of this market in coming years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Analytics/Medical Analytics Market Research Report
By Type
Deploy Health Care Analysis Internally, Random Health Care Analysis
By Application
Pharmaceutical, Medical Device Companies
By Companies
ALLSCRIPTS HEALTHCARE SOLUTIONS, CERNER, HEALTH CATALYST, IBM, INOVALON, MCKESSON, MEDEANALYTICS, OPTUM, ORACLE, SAS INSTITUTE, SCIO HEALTH ANALYTICS, VERSCEND TECHNOLOGIES, CITIUSTECH, WIPRO
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Analytics/Medical Analytics Market Report Segments:
The global Healthcare Analytics/Medical Analytics market is segmented on the basis of:
Types
Deploy Health Care Analysis Internally, Random Health Care Analysis
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
Pharmaceutical, Medical Device Companies
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 HEALTHCARE SOLUTIONS
- CERNER
- HEALTH CATALYST
- IBM
- INOVALON
- MCKESSON
- MEDEANALYTICS
- OPTUM
- ORACLE
- SAS INSTITUTE
- SCIO HEALTH ANALYTICS
- VERSCEND TECHNOLOGIES
- CITIUSTECH
- WIPRO
Highlights of The Healthcare Analytics/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:
- Deploy Health Care Analysis Internally
- Random Health Care Analysis
- By Application:
- Pharmaceutical
- Medical Device Companies
- 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 Analytics/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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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 analytics is the use of data and analytics to improve patient care. Medical analytics is the application of statistical methods and modeling to healthcare data in order to identify patterns, trends, and relationships that may help clinicians make better decisions about patients' care.
Some of the major companies in the healthcare analytics/medical analytics market are ALLSCRIPTS HEALTHCARE SOLUTIONS, CERNER, HEALTH CATALYST, IBM, INOVALON, MCKESSON, MEDEANALYTICS, OPTUM, ORACLE, SAS INSTITUTE, SCIO HEALTH ANALYTICS, VERSCEND TECHNOLOGIES, CITIUSTECH, WIPRO.
The healthcare analytics/medical analytics market is expected to grow at a compound annual growth rate of 16.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Healthcare Analytics/Medical Analytics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Healthcare Analytics/Medical Analytics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Healthcare Analytics/Medical Analytics Market - Supply Chain
4.5. Global Healthcare Analytics/Medical Analytics Market Forecast
4.5.1. Healthcare Analytics/Medical Analytics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Healthcare Analytics/Medical Analytics Market Size (000 Units) and Y-o-Y Growth
4.5.3. Healthcare Analytics/Medical Analytics Market Absolute $ Opportunity
5. Global Healthcare Analytics/Medical Analytics Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
5.3.1. Deploy Health Care Analysis Internally
5.3.2. Random Health Care Analysis
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Healthcare Analytics/Medical Analytics Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
6.3.1. Pharmaceutical
6.3.2. Medical Device Companies
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Healthcare Analytics/Medical Analytics Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Healthcare Analytics/Medical Analytics Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Healthcare Analytics/Medical Analytics Demand Share Forecast, 2019-2026
9. North America Healthcare Analytics/Medical Analytics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
9.4.1. Pharmaceutical
9.4.2. Medical Device Companies
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
9.7.1. Deploy Health Care Analysis Internally
9.7.2. Random Health Care Analysis
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Healthcare Analytics/Medical Analytics Demand Share Forecast, 2019-2026
10. Latin America Healthcare Analytics/Medical Analytics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
10.4.1. Pharmaceutical
10.4.2. Medical Device Companies
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
10.7.1. Deploy Health Care Analysis Internally
10.7.2. Random Health Care Analysis
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Healthcare Analytics/Medical Analytics Demand Share Forecast, 2019-2026
11. Europe Healthcare Analytics/Medical Analytics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
11.4.1. Pharmaceutical
11.4.2. Medical Device Companies
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
11.7.1. Deploy Health Cae Analysis Internally
11.7.2. Random Health Care Analysis
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Healthcare Analytics/Medical Analytics Demand Share, 2019-2026
12. Asia Pacific Healthcare Analytics/Medical Analytics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
12.4.1. Pharmaceutical
12.4.2. Medical Device Companies
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
12.7.1. Deploy Health Care Analysis Internally
12.7.2. Random Health Care Analysis
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Healthcare Analytics/Medical Analytics Demand Share, 2019-2026
13. Middle East & Africa Healthcare Analytics/Medical Analytics Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Healthcare Analytics/Medical Analytics Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Application
13.4.1. Pharmaceutical
13.4.2. Medical Device Companies
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Healthcare Analytics/Medical Analytics Market Size and Volume Forecast by Type
13.7.1. Deploy Health Care Analysis Internally
13.7.2. Random Health Care Analysis
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Healthcare Analytics/Medical Analytics Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Healthcare Analytics/Medical Analytics Market: Market Share Analysis
14.2. Healthcare Analytics/Medical Analytics Distributors and Customers
14.3. Healthcare Analytics/Medical Analytics Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ALLSCRIPTS HEALTHCARE SOLUTIONS
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. CERNER
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. HEALTH CATALYST
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. IBM
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. INOVALON
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. MCKESSON
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. MEDEANALYTICS
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. OPTUM
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ORACLE
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. SAS INSTITUTE
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. SCIO HEALTH ANALYTICS
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. VERSCEND TECHNOLOGIES
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. CITIUSTECH
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. WIPRO
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook