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Global Healthcare Analytics Market Expected to Grow at a CAGR of 17.5% during 2021-2026, Driven by Major Developments in the Healthcare Sector

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Global Healthcare Analytics Market: By Type: Descriptive, Predictive, Prescriptive; By Component: Hardware, Software, Services; By Deployment Model; By Application; By End-User; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Healthcare Analytics Market Outlook

The global healthcare analytics market reached a value of about USD 13.6 billion in 2020. The market for healthcare analytics is being driven by the rise of big data and growing number of initiatives and programmes. The market is further expected to grow at a CAGR of 17.5% in the forecast period of 2023-2028 to reach nearly USD 35.8 billion by 2026.

 

Global Healthcare Analytics Market

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Rise of Big Data to Boost the Healthcare Analytics Industry Growth

The healthcare analytics industry is being driven by factors such as the rise of big data in the healthcare sector, increased emphasis on collecting and analysing data from various sources for improved customer experience, technical advances, and the introduction of social media and its effect on the healthcare industry. Descriptive analytics has held a significant market share in the historical period, while prescriptive analytics is expected to rise at the fastest CAGR during the forecast period. Since descriptive analytics is the foundation for the successful implementation of predictive or prescriptive analytics, descriptive analytics is predicted to dominate the market during the forecast period.

 

Healthcare Analytics: Market Segmentation

Data is used widely in healthcare research for quantitative and qualitative research. The healthcare market is shifting from volume-based drugs to value-based medicines and reimbursement. Some of the key demands of the payers of this technology include a sudden focus on increased patient outcomes, shortened length-of-stay at clinics, lower healthcare and prescription rates, and fraud prevention.

 

Global Healthcare Analytics Market by Segment

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Based on type, the market is divided into:

  • Descriptive
  • Predictive
  • Prescriptive

On the basis of component, the market is categorised into:

  • Hardware 
  • Software
  • Services

With respect to deployment model, the market is segmented into:

  • On-Premises
  • Web-Based
  • Cloud-Based

Application wise, the market is classified into:

  • Clinical
  • Financial
  • Operational and Administrative

The market is split on the basis of end-user into:

  • Healthcare Provider
  • Pharmaceutical
  • Biotechnology
  • Academic Organisation

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Healthcare Analytics Market by Region

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Rising Number of Initiatives and Programmes Aiding the Growth of Healthcare Analytics Industry

Healthcare analytics is continuing to transform the healthcare sector in a number of countries. The administrations in developed and emerging nations around the world have launched a slew of federal laws, programmes, and initiatives to see improvements in healthcare systems. The European Union has created an initiative dubbed "Bigmedilytics" that focuses on cost savings, patient improvement, and improved access to health networks. Apart from that, the use of smart devices that collect massive volumes of data is predicted to skyrocket; this raw data will then be processed to help businesses make smarter decisions, thereby aiding the market growth of healthcare analytics.

 

Key Industry Players in the Global Healthcare Analytics Market

The report gives a detailed analysis of the following key players in the global healthcare analytics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Epic Systems Corporation
  • McKesson Corporation
  • SAS Institute, Inc
  • UnitedHealth Group
  • Oracle Corporation
  • IBM Corporation
  • MedeAnalytics, Inc.
  • Optum, Inc. 
  • Health Catalyst
  • SAP SE

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Component, Deployment Model, Application, End-User, Region
Breakup by Type Descriptive, Predictive, Prescriptive
Breakup by Component Hardware, Software, Services
Breakup by Deployment Model On-Premise, Web-based, Cloud-based
Breakup by Application Clinical, Financial, Operational and Administrative
Breakup by End-User Healthcare Provider, Pharmaceutical, Biotechnology, Academic Organisation
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Epic Systems Corporation, McKesson Corporation, SAS Institute, Inc, UnitedHealth Group, Oracle Corporation, IBM Corporation, MedeAnalytics, Inc., Optum, Inc., Health Catalyst, and SAP SE, among others.
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Healthcare Analytics Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Healthcare Analytics Historical Market (2018-2022) 
    8.3    Global Healthcare Analytics Market Forecast (2023-2028)
    8.4    Global Healthcare Analytics Market by Type
        8.4.1    Descriptive
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Predictive
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Prescriptive
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Healthcare Analytics Market by Component
        8.5.1    Hardware
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Software
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Services
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Healthcare Analytics Market by Deployment Model
        8.6.1    On-Premise
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Web-based
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Cloud-based
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Healthcare Analytics Market by Application
        8.7.1    Clinical
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Financial
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Operational and Administrative
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
    8.8    Global Healthcare Analytics Market by End-User
        8.8.1    Healthcare Provider
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Pharmaceutical
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Biotechnology
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022)
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Academic Organisation
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022)
            8.8.4.3    Forecast Trend (2023-2028)
    8.9    Global Healthcare Analytics Market by Region       
        8.9.1    North America
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2018-2022) 
            8.9.1.3    Forecast Trend (2023-2028)
        8.9.2    Europe
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2018-2022) 
            8.9.2.3    Forecast Trend (2023-2028)
        8.9.3    Asia Pacific
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2018-2022) 
            8.9.3.3    Forecast Trend (2023-2028)
        8.9.4    Latin America
            8.9.4.1    Market Share
            8.9.4.2    Historical Trend (2018-2022) 
            8.9.4.3    Forecast Trend (2023-2028)
        8.9.5    Middle East and Africa
            8.9.5.1    Market Share
            8.9.5.2    Historical Trend (2018-2022) 
            8.9.5.3    Forecast Trend (2023-2028) 
9    North America Healthcare Analytics Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Healthcare Analytics Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Healthcare Analytics Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Healthcare Analytics Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Healthcare Analytics Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Epic Systems Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    McKesson Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    SAS Institute, Inc
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    UnitedHealth Group
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Oracle Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    IBM Corporation
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    MedeAnalytics, Inc.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Optum, Inc.
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Health Catalyst
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    SAP SE
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Healthcare Analytics Market: Key Industry Highlights, 2018 and 2028
2.    Global Healthcare Analytics Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Healthcare Analytics Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Healthcare Analytics Historical Market: Breakup by Component (USD Million), 2018-2022
5.    Global Healthcare Analytics Market Forecast: Breakup by Component (USD Million), 2023-2028
6.    Global Healthcare Analytics Historical Market: Breakup by Deployment Model (USD Million), 2018-2022
7.    Global Healthcare Analytics Market Forecast: Breakup by Deployment Model (USD Million), 2023-2028
8.    Global Healthcare Analytics Historical Market: Breakup by Application (USD Million), 2018-2022
9.    Global Healthcare Analytics Market Forecast: Breakup by Application (USD Million), 2023-2028
10.    Global Healthcare Analytics Historical Market: Breakup by End-User (USD Million), 2018-2022
11.    Global Healthcare Analytics Market Forecast: Breakup by End-User (USD Million), 2023-2028
12.    Global Healthcare Analytics Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Healthcare Analytics Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Global Healthcare Analytics Market Structure

Key Questions Answered in the Report

What was the global healthcare analytics market size in 2020?

In 2020, the global healthcare analytics market attained a value  of nearly USD 13.6 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 17.5% between 2021 and 2026.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 35.8 billion by 2026.

What are the major industry drivers?

The major industry drivers are rise in big data and healthcare sector due to rising geriatric population.

What are the key industry trends of the global healthcare analytics market?

The key trends in the market are growing popularity of descriptive analytics and increasing number of programmes and initiatives.

What are the major regional markets of healthcare analytics, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major types of healthcare analytics in the industry?

The major types of healthcare analytics in the industry are descriptive, predictive, and prescriptive.

What are the significant components of healthcare analytics?

The significant components of healthcare analytics are hardware, software, and services.

What are the different deployment models available in the market?

The different deployment models available in the market are on-premises, web-based, and cloud-based.

What are the various applications of healthcare analytics?

The various applications of healthcare analytics are clinical, financial, and operational and administrative.

What are the major end-users of healthcare analytics?

The major end-users of healthcare analytics include healthcare provider, pharmaceutical, biotechnology, and academic organisation.

Who are the key industry players, according to the report?

The major players in the industry are Epic Systems Corporation, McKesson Corporation, SAS Institute, Inc, UnitedHealth Group, Oracle Corporation, IBM Corporation, MedeAnalytics, Inc., Optum, Inc., Health Catalyst, and SAP SE, among others.

Analyst Review

The global healthcare analytics market attained a value of about USD 13.6 billion in 2020, driven by the rise in big data and healthcare sectors. Aided by the growing popularity of descriptive analytics and increasing number of programmes and initiatives, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 17.5%. The market is projected to reach nearly USD 35.8 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the healthcare analytics industry can be segmented into descriptive, predictive, and prescriptive. By components, the industry is divided into hardware, software, and services. On the basis of deployment models, the industry is segmented into on-premises, web-based, and cloud-based. Application wise, the industry is segregated into clinical, financial, and operational and administrative. On the basis of end-user, the industry is categorised into healthcare provider, pharmaceutical, biotechnology, and academic organisation. The major regional markets for healthcare analytics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Epic Systems Corporation, McKesson Corporation, SAS Institute, Inc, UnitedHealth Group, Oracle Corporation, IBM Corporation, MedeAnalytics, Inc., Optum, Inc., Health Catalyst, and SAP SE, among others..

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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