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Global Healthcare Analytics Market to reach USD 138.20 billion by the end of 2029.

Global Healthcare Analytics Market Size study & Forecast, by Component (Software, Services, Hardware), By Type (Descriptive, Predictive, Prescriptive), By Delivery Mode (Web Hosted, Cloud-based, On-premises), By Application (Clinical, Financial, Operational & Administrative), By End-user (Life Science Companies, Healthcare Payers, Healthcare Providers), and Regional Analysis, 2022-2029

Product Code: HLSHIT-83745652
Publish Date: 17-04-2023
Page: 200

Global Healthcare Analytics Market is valued at approximately USD 29.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 21.5% over the forecast period 2022-2029. Healthcare analytics enables healthcare professionals to identify opportunities to enhance workflow, patient engagement, care delivery, and clinical results. Real-time and historical data are combined in healthcare data analytics to find patterns, provide actionable insights, progress medicine, and stimulate long-term growth. Additionally, healthcare analytics systems require enormous amounts of acquired data to give enterprises useful insights. Factors such as a rising focus on improving patient outcomes and curbing healthcare spending, increasing capital investments in healthcare analytics start-ups, coupled with the increasing trend of real-world evidence are the key driving factors for the global market growth.

Additionally, the surge in the adoption of electronic health records (EHR) is further stipulating the market demand in the global market. As per the Statista analysis, in 2020, the EHR market was estimated to be worth around USD 29.16 billion worldwide, which is anticipated to rise to USD 47.25 billion by 2027. Thus, growing initiatives for electronic health records adoption, as well as increasing technological advancements is excelling the market expansion across the world. Furthermore, increasing penetration of analytics in precision and personalized medicines, as well as growing preference towards cloud-based analytics are presenting various lucrative opportunities over the forecasting years. However, the rising data breach concerns and the high cost of analytics solutions in healthcare organizations are hindering market growth over the forecast period of 2022-2029.

The key regions considered for the Global Healthcare Analytics Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the greater accessibility of analytics solutions & services, along with the rising adoption of personalized medicine & value-based medicine. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the growing geriatric population, rising burden of chronic ailments, as well as the reliance of consumers and healthcare providers on IT are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
McKesson Corporation
Optum, Inc.
IBM Corporation
Oracle Corporation
SAS Institute, Inc.
Verisk Analytics, Inc.
Medeanalytics, Inc.
Truven Health Analytics, Inc.
Allscripts Healthcare Solutions, Inc.
Cerner Corporation
Recent Developments in the Market:
Ø In July 2022, Francisco Partners announced that the company acquired healthcare data and analytics assets that were part of IBM’s Watson Health business. The products and data sets that Francisco Partners has acquired encompass a wide range of categories, including MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software services.
Ø In October 2022, Oracle corporation entered into an agreement with WellSpan Health, which aims on enhance its reduce costs, operational insights, improve the team member experience, and support its future expansion.

Global Healthcare Analytics Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Type, Delivery Mode, Application, End-user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Type:
By Delivery Mode:
Web Hosted
By Application:
Operational & Administrative
By End-user:
Life Science Companies
Healthcare Payers
Healthcare Providers
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Healthcare Analytics Market, by Region, 2019-2029 (USD Billion)
1.2.2. Healthcare Analytics Market, by Component, 2019-2029 (USD Billion)
1.2.3. Healthcare Analytics Market, by Type, 2019-2029 (USD Billion)
1.2.4. Healthcare Analytics Market, by Delivery Mode, 2019-2029 (USD Billion)
1.2.5. Healthcare Analytics Market, by Application, 2019-2029 (USD Billion)
1.2.6. Healthcare Analytics Market, by End-user, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Healthcare Analytics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Healthcare Analytics Market Dynamics
3.1. Healthcare Analytics Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing capital investments in healthcare analytics start-ups Surge in the adoption of electronic health records (EHR)
3.1.2. Market Challenges Rising data breach concerns High cost of analytics solutions in healthcare organizations
3.1.3. Market Opportunities Increasing penetration of analytics in precision and personalized medicines Growing preference towards the cloud-based analytics
Chapter 4. Global Healthcare Analytics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Healthcare Analytics Market, by Component
6.1. Market Snapshot
6.2. Global Healthcare Analytics Market by Component, Performance – Potential Analysis
6.3. Global Healthcare Analytics Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
6.4. Healthcare Analytics Market, Sub Segment Analysis
6.4.1. Software
6.4.2. Services
6.4.3. Hardware
Chapter 7. Global Healthcare Analytics Market, by Type
7.1. Market Snapshot
7.2. Global Healthcare Analytics Market by Type, Performance – Potential Analysis
7.3. Global Healthcare Analytics Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
7.4. Healthcare Analytics Market, Sub Segment Analysis
7.4.1. Descriptive
7.4.2. Predictive
7.4.3. Prescriptive
Chapter 8. Global Healthcare Analytics Market, by Delivery Mode
8.1. Market Snapshot
8.2. Global Healthcare Analytics Market by Delivery Mode, Performance – Potential Analysis
8.3. Global Healthcare Analytics Market Estimates & Forecasts by Delivery Mode 2019-2029 (USD Billion)
8.4. Healthcare Analytics Market, Sub Segment Analysis
8.4.1. Web Hosted
8.4.2. Cloud-based
8.4.3. On-premises
Chapter 9. Global Healthcare Analytics Market, by Application
9.1. Market Snapshot
9.2. Global Healthcare Analytics Market by Application, Performance – Potential Analysis
9.3. Global Healthcare Analytics Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
9.4. Healthcare Analytics Market, Sub Segment Analysis
9.4.1. Clinical
9.4.2. Financial
9.4.3. Operational & Administrative
Chapter 10. Global Healthcare Analytics Market, by End-user
10.1. Market Snapshot
10.2. Global Healthcare Analytics Market by End-user, Performance – Potential Analysis
10.3. Global Healthcare Analytics Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
10.4. Healthcare Analytics Market, Sub Segment Analysis
10.4.1. Life Science Companies
10.4.2. Healthcare Payers
10.4.3. Healthcare Providers
Chapter 11. Global Healthcare Analytics Market, Regional Analysis
11.1. Healthcare Analytics Market, Regional Market Snapshot
11.2. North America Healthcare Analytics Market
11.2.1. U.S. Healthcare Analytics Market Component breakdown estimates & forecasts, 2019-2029 Type breakdown estimates & forecasts, 2019-2029 Delivery Mode breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 End-user breakdown estimates & forecasts, 2019-2029
11.2.2. Canada Healthcare Analytics Market
11.3. Europe Healthcare Analytics Market Snapshot
11.3.1. U.K. Healthcare Analytics Market
11.3.2. Germany Healthcare Analytics Market
11.3.3. France Healthcare Analytics Market
11.3.4. Spain Healthcare Analytics Market
11.3.5. Italy Healthcare Analytics Market
11.3.6. Rest of Europe Healthcare Analytics Market
11.4. Asia-Pacific Healthcare Analytics Market Snapshot
11.4.1. China Healthcare Analytics Market
11.4.2. India Healthcare Analytics Market
11.4.3. Japan Healthcare Analytics Market
11.4.4. Australia Healthcare Analytics Market
11.4.5. South Korea Healthcare Analytics Market
11.4.6. Rest of Asia Pacific Healthcare Analytics Market
11.5. Latin America Healthcare Analytics Market Snapshot
11.5.1. Brazil Healthcare Analytics Market
11.5.2. Mexico Healthcare Analytics Market
11.5.3. Rest of Latin America Healthcare Analytics Market
11.6. Rest of The World Healthcare Analytics Market

Chapter 12. Competitive Intelligence
12.1. Top Market Strategies
12.2. Company Profiles
12.2.1. McKesson Corporation Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.2.2. Optum, Inc.
12.2.3. IBM Corporation
12.2.4. Oracle Corporation
12.2.5. SAS Institute, Inc.
12.2.6. Verisk Analytics, Inc.
12.2.7. Medeanalytics, Inc.
12.2.8. Truven Health Analytics, Inc.
12.2.9. Allscripts Healthcare Solutions, Inc.
12.2.10. Cerner Corporation
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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