Healthcare Analytics Market Share, Size, Value, Trends, Demand, Dynamics, Business Growth, Revenue and Forecasts (2020 – 2027)
The global healthcare analytics market is projected to reach value of USD 90.84 Billion by 2027, according to a current analysis by Emergen Research. The global healthcare analytics market is projected to expand significantly during the forecast period. Rapid growth of the market can be attributed to the increasing demand to improve efficiency in the healthcare industry by decreasing unwanted expenses. Growing introduction of Big Data in the healthcare industry is anticipated to boost the global healthcare analytics market further during the forecast period. Furthermore, rising integration of Big Data analytics with mHealth applications is likely to propel the global healthcare analytics market during the forecast period.
Furthermore, application of Porters Five Forces Analysis to determine the status of various aspects such as the capability of both the suppliers and customers, threats posed by different substitutes, the intensity of competition and promising new vendors makes the study a valuable resource. The researchers behind the market intelligence report examine the weaknesses, strengths, opportunities, and restraints expected to shape the progress of the Healthcare Analytics market for the forecast period, 2020 to 2027. The market intelligence report includes detailed statistics on market segmentation based on product value, application, classification, and sale.
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Key Highlights of Report
In October 2020, TIBCO Software Inc. declared to have reached a contract to acquire Information Builders, Inc., a pioneering data analytics software provider. Through the addition of Information Builders, TIBCO would have exposure to a more extensive range of analytics and techniques, significantly improving the company’s ability to support other companies in overcoming the most difficult data quality issues.
The hardware segment is expected to lead the market throughout the forecast period. Healthcare analytics entail a robust networking infrastructure to collect, analyze, and deliver a large volume of data. High-cost of hardware components, such as computers’ components, is driving the segment.
The on-premises segment is expected to lead the market during the forecast period. Although a unit is located within the premises, it can also be conveniently accessible from distant locations, offering high energy use, reduced costs, and benefits in terms of operating.
The descriptive analytics segment is anticipated to lead the market in the next few years. Capabilities of descriptive analytics to evaluate historical insights and to gain viable future analyses are projected to fuel the segment in the near future.
The financial analysis segment is projected to retain the largest market share during the forecast period, due to growing utilization of the analytics to minimize health care costs and provide better treatment quality to patients.
The healthcare payer segment is estimated to hold the largest market share during the forecast period. Such programs help payers identify improvement points in clinical practice, incorporate new approaches to address high-risk patients, and promote observable outcomes.
North America is projected to lead the global market for healthcare analytics during the forecast period, due to increasing implementation of electronic health records (EHRs) and rising federal legislations on clinical care to mitigate healthcare expenses and offer improved treatment to patients.
Key market participants include Health Catalyst Inc., MedeAnalytics, Inc., Athenahealth Inc., Tenet Healthcare Corporation, Evolent Health, Oracle Corporation, Verisk Analytics, Inc., Epic Systems Corporation, TIBCO Software Inc., and SAP SE
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Component Outlook (Revenue, USD Billion; 2017–2027)
Software
Hardware
Services
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Cloud-based
On-premises
Solution Outlook (Revenue, USD Billion; 2017–2027)
Predictive Analytics
Descriptive Analytics
Prescriptive Analytics
Application Outlook (Revenue, USD Billion; 2017–2027)
Clinical Analysis
Financial Analysis
Administrative & Operational Analysis
End-use Outlook (Revenue, USD Billion; 2017–2027)
Healthcare Provider
Healthcare Payer
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
The report segments the Healthcare Analytics market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Healthcare Analytics Market Segmentation & Impact Analysis
4.1. Healthcare Analytics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Stringent environmental regulations
4.2.2.2. Rising need to reduce bacterial or algal contamination in water systems
4.2.2.3. Increasing demand for biocides for municipal water treatment
4.2.3. Market restraints analysis
4.2.3.1. Fluctuating prices of raw material
4.2.3.2. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Healthcare Analytics Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Healthcare Analytics Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Healthcare Analytics Market Regional Outlook
Chapter 8. Competitive Landscape
Continued…
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