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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 (2017-2027); 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 2022-2027 to reach nearly USD 35.8 billion by 2026.
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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.
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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.
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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:
- Allscripts Healthcare, LLC
- Cerner Corporation
- Ontada LLC
- Koninklijke Philips N.V.
- IBM Corporation
- Optum, Inc.
- Others
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 | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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 | Allscripts Healthcare, LLC, Cerner Corporation, Ontada LLC, Koninklijke Philips N.V., IBM Corporation, Optum, Inc., 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. |
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 (2017-2021)
8.3 Global Healthcare Analytics Market Forecast (2022-2027)
8.4 Global Healthcare Analytics Market by Type
8.4.1 Descriptive
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Predictive
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Prescriptive
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.5 Global Healthcare Analytics Market by Component
8.5.1 Hardware
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Software
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Services
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Web-based
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Cloud-based
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.7 Global Healthcare Analytics Market by Application
8.7.1 Clinical
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Financial
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Operational and Administrative
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.8.1.3 Forecast Trend (2022-2027)
8.8.2 Pharmaceutical
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2017-2021)
8.8.2.3 Forecast Trend (2022-2027)
8.8.3 Biotechnology
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2017-2021)
8.8.3.3 Forecast Trend (2022-2027)
8.8.4 Academic Organisation
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2017-2021)
8.8.4.3 Forecast Trend (2022-2027)
8.9 Global Healthcare Analytics Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Allscripts Healthcare, LLC
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Cerner Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Ontada LLC
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Koninklijke Philips N.V.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 IBM Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Optum, Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Healthcare Analytics Market: Key Industry Highlights, 2016 and 2026
2. Global Healthcare Analytics Historical Market: Breakup by Type (USD Million), 2017-2021
3. Global Healthcare Analytics Market Forecast: Breakup by Type (USD Million), 2022-2027
4. Global Healthcare Analytics Historical Market: Breakup by Component (USD Million), 2017-2021
5. Global Healthcare Analytics Market Forecast: Breakup by Component (USD Million), 2022-2027
6. Global Healthcare Analytics Historical Market: Breakup by Deployment Model (USD Million), 2017-2021
7. Global Healthcare Analytics Market Forecast: Breakup by Deployment Model (USD Million), 2022-2027
8. Global Healthcare Analytics Historical Market: Breakup by Application (USD Million), 2017-2021
9. Global Healthcare Analytics Market Forecast: Breakup by Application (USD Million), 2022-2027
10. Global Healthcare Analytics Historical Market: Breakup by End-User (USD Million), 2017-2021
11. Global Healthcare Analytics Market Forecast: Breakup by End-User (USD Million), 2022-2027
12. Global Healthcare Analytics Historical Market: Breakup by Region (USD Million), 2017-2021
13. Global Healthcare Analytics Market Forecast: Breakup by Region (USD Million), 2022-2027
14. North America Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2017-2021
15. North America Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Europe Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2017-2021
17. Europe Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Asia Pacific Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2017-2021
19. Asia Pacific Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Latin America Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2017-2021
21. Latin America Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2022-2027
22. Middle East and Africa Healthcare Analytics Historical Market: Breakup by Country (USD Million), 2017-2021
23. Middle East and Africa Healthcare Analytics Market Forecast: Breakup by Country (USD Million), 2022-2027
24. Global Healthcare Analytics Market Structure
Key Questions Answered in the Report
In 2020, the global healthcare analytics market attained a value of nearly USD 13.6 billion.
The market is projected to grow at a CAGR of 17.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 35.8 billion by 2026.
The major industry drivers are rise in big data and healthcare sector due to rising geriatric population.
The key trends in the market are growing popularity of descriptive analytics and increasing number of programmes and initiatives.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of healthcare analytics in the industry are descriptive, predictive, and prescriptive.
The significant components of healthcare analytics are hardware, software, and services.
The different deployment models available in the market are on-premises, web-based, and cloud-based.
The various applications of healthcare analytics are clinical, financial, and operational and administrative.
The major end-users of healthcare analytics include healthcare provider, pharmaceutical, biotechnology, and academic organisation.
The major players in the industry are Allscripts Healthcare, LLC, Cerner Corporation, Ontada LLC, Koninklijke Philips N.V., IBM Corporation, and Optum, Inc., 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 2022-2027, 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 Allscripts Healthcare, LLC, Cerner Corporation, Ontada LLC, Koninklijke Philips N.V., IBM Corporation, and Optum, Inc., 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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