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Global Healthcare Predictive Analytics Market to Grow at a CAGR of 30.8% During 2022-2027, Aided by the Rapid Technological Advancements

According to a new report by EMR titled, ‘Global Healthcare Predictive Analytics Market Report and Forecast 2022-2027’, the market attained a value of around USD 5.3 billion in 2020. The market for healthcare predictive analytics is further expected to grow at a CAGR of 30.8% between 2022 and 2027.

The global healthcare predictive analytics industry is being driven by the rapid technological innovations and heightened investments in the healthcare infrastructure by the governments. This can be attributed to its growing need in the healthcare sector due to the rampant spread of chronic illnesses around the globe and increasing hospital admissions. In addition, the increasing geriatric population globally, which is at a higher risk of contracting severe health issues and infections, is further expected to bolster the market growth. Moreover, the rapid digitalisation and the increased demand for remote diagnosis and consultation facilities are also anticipated to contribute to the market expansion in the coming years.

The rising focus of the leading market players in the development of improved healthcare predictive analytics software to strengthen and streamline healthcare operations is expected to catalyse the industry growth. For example, in May 2020, Cerner Corporation (NASDAQ: CERN) announced its collaboration with Hospital IQ to provide assistance to hospitals and healthcare systems in furthering their clinical and functional predictive analytics potential. Hospital IQ offers its cloud-based platform, along with machine learning-powered analytics technology that would aid in managing the hospital resource alignment, patient flow, and staff scheduling. In addition, another leading healthcare predictive analytics provider, UnitedHealthcare, a subsidiary of UnitedHealth Group Inc. (NYSE: UNH), in July 2021, announced the use of predictive analytics to enhance the user engagement in their clinical intervention programmes and improve the health and well-being while reducing the costs for people under employer-sponsored health plans. Furthermore, the predictive analytics technology will help accentuate the social determinants of health and identify people in need of support. Such developments are expected to positively impact the healthcare predictive analytics industry growth in the forecast period.

Market Breakup by Application, End Use, and Region:

  • The market is categorised, based on application, into operations management, financial, population health management, and clinical.
  • On the basis of end use, the market can be divided into healthcare payers, and healthcare providers, among others.
  • Region-wise, the global market for healthcare predictive analytics can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for healthcare predictive analytics is being driven by the rapid technological advancements in the healthcare sector.
  • The rising investments by the government to develop and support the healthcare sector have significantly contributed to the market expansion.
  • The rising occurrences of chronic illnesses worldwide are also aiding the industry growth.
  • The growing geriatric population, which is more susceptible to severe diseases and ailments, is further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for healthcare predictive analytics for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the applications, end uses, and regions of healthcare predictive analytics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global healthcare predictive analytics market are IBM Corporation, Cerner Corporation, Mckesson Corporation, SAS Institute Inc., and Oracle Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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