Healthcare Analytics Market

Healthcare Analytics Market by Type (Predictive, Prescriptive, Cognitive) Application (Clinical, RCM, Claim, Fraud, Waste, Supply Chain, PHM) Component (Service, Software) Delivery (On-demand, Cloud) End User (Payer, Hospital) - Global Forecast to 2024

Report Code: HIT 2180 Jan, 2019, by marketsandmarkets.com

[259 Pages Report] The overall market for healthcare analytics is expected to reach $50.5 billion by 2024 from $14.0 billion in 2019, at a CAGR of 28.3% during the forecast period. Factors such as government initiatives to increase EHR adoption, growing venture capital investments, growing pressure to curb healthcare spending and improve patient outcomes, the emergence of big data in healthcare, and the rising importance of real-world evidence are expected to drive the growth of the market.

Healthcare Analytics Market

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Descriptive analytics forms a base for the effective application of predictive or prescriptive analytics, which is driving the market growth

Based on type, the market is segmented into descriptive, predictive, prescriptive, and cognitive analytics. Descriptive analytics is expected to account for the largest share of the market in 2018, while the Prescriptive Analytics segment is projected to grow at the highest CAGR during the forest period. Descriptive analytics is expected to dominate the market during the forecast period because it forms the base for the effective application of predictive or prescriptive analytics.

A growing focus on cost-cutting and the implementation of practices to ensure profitability has made financial analytics highly significant

By application, the market has been segmented into financial analytics, clinical analytics, operational & administrative analytics, and population health analytics. The Financial Analytics segment is estimated to dominate the market in 2019, due to a rising focus of payers on the early detection of fraud and reducing preventable costs. The market for financial analysis is expected to register significant growth during the forecast period.

On-premise solutions to account for the largest share of the healthcare analytics market in 2019

Based on the deployment model, the market is segmented into on-premise and on-demand models. In 2019, the on-premise models segment is expected to account for the largest share of the global market. This can be attributed to the easily customizable nature of on-premise solutions, as compared to on-demand models.

Payers segment to account for the largest share of the healthcare analytics market in 2019

On the basis of end user, the market is segmented into payers, providers, and ACOs, HIEs, MCOs, and TPAs. In 2019, the payers segment is expected to account for the largest share of the global market. Factors such as rising healthcare costs; the growing need to increase memberships; curb fraudulent claims, optimize provider networks, and operational costs; and increasing competition are compelling healthcare payers to adopt analytics solutions.

Healthcare Analytics Market

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North America is expected to account for the largest market share during the forecast period

The market is dominated by North America, followed by Europe, Asia, and RoW. The market in North America is expected to witness the highest growth during the forecast period. The high growth of the North American market is attributed to growing federal healthcare mandates to curb rising healthcare costs; increasing regulatory requirements; growing EHR adoption; and rising government initiatives focusing on personalized medicine, population health management, and value-based reimbursements.

Key Market Players

The healthcare analytics market is highly competitive in nature, with several big as well as emerging players. Prominent players in this market include IBM Corporation (US), Optum, Inc. (US), Cerner Corporation (US), SAS Institute, Inc. (US), Allscripts Health Solutions (US), McKesson Corporation (US), MedeAnalytics, Inc. (US), Inovalon (US), Oracle Corporation (US), Health Catalyst (US), SCIO Health Analytics (US), Verscend Technologies, Inc. (US), CitiusTech, Inc. (US), Wipro Limited (India), and VitreosHealth (US).

IBM is the leading player in the healthcare analytics market and provides a comprehensive range of solutions for this market. The company has a strong presence in the commercial and government healthcare payer markets. It also has a robust sales and distribution network across more than 175 countries. IBM invests a significant amount of its revenue in research activities to continuously improve its product portfolio. Since 2005, the company has invested USD 24 billion in the development of its big data and analytics software and services capabilities, and has 6,809 patents to its name. One of the major steps taken by IBM to improve its position in the market is the acquisition of Truven Health Analytics in April 2016. This acquisition helped the company to acquire a major share of the global market.

Recent Developments

  • In August 2018, Verscend Technology (US) acquired Cotiviti Holdings, Inc. (US), a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry.
  • In March 2018, Verscend Technology (US) acquired General Dynamics (US) to add the latter’s solutions for tracking healthcare fraud, waste, and abuse (FWA) to its portfolio. This acquisition also enabled Verscend to strengthen its payer quality analytics and reporting solutions.
  • In July 2018, Health Catalyst (US) acquired Medicity, a PHM company offering solutions for HIEs, business intelligence, and provider and patient engagement.

Key Questions addressed by the report

  • Where will all these developments take the industry in the medium to long-term?
  • What types of annual and multi-year partnerships are healthcare analytics companies exploring?
  • Which are the key players in the market, and how intense is the competition?
  • Which are the recent contracts and agreements key players have signed?
  • What are the recent trends affecting healthcare analytics solution manufacturers and independent service organizations?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 24)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 28)
    2.1 Research Data
           2.1.1 Secondary Sources
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Resources
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Ranking of Key Players
    2.5 Assumptions for the Study

3 Executive Summary (Page No. - 36)

4 Premium Insights (Page No. - 41)
    4.1 Healthcare Analytics Market Overview
    4.2 Healthcare Analytics Market, By Type, 2019 vs 2014 (USD Billion)
    4.3 Healthcare Analytics Market, By Component, 2019 vs 2014 (USD Billion)
    4.4 Healthcare Analytics Market, By Delivery Model
    4.5 Financial Analytics Market Share, By Type & Region (2019)
    4.6 Healthcare Analytics Market, By End User, 2019 vs 2024 (USD Billion)
    4.7 Healthcare Analytics Market, By Region

5 Market Overview (Page No. - 47)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Government Initiatives to Increase EHR Adoption
                    5.2.1.2 Growing Venture Capital Investments
                    5.2.1.3 Growing Pressure to Curb Healthcare Spending and Improve Patient Outcomes
                    5.2.1.4 Big Data in Healthcare
                    5.2.1.5 Growing Focus on Real-World Evidence
           5.2.2 Restraints
                    5.2.2.1 High Cost of Analytics Solutions
           5.2.3 Opportunities
                    5.2.3.1 Increasing Focus on Value-Based Medicine
                    5.2.3.2 Use of Analytics in Precision and Personalized Medicine
                    5.2.3.3 Cloud-Based Analytics
                    5.2.3.4 Increasing Number of Patient Registries
                    5.2.3.5 Emergence of Social Media and Its Impact on the Healthcare Industry
                    5.2.3.6 Augmented Analytics
                    5.2.3.7 Analytics of Healthcare Things
           5.2.4 Challenges
                    5.2.4.1 Patient Data Confidentiality
                    5.2.4.2 Concerns Regarding Inaccurate and Inconsistent Data
                    5.2.4.3 Reluctance to Adopt Healthcare Analytics in Emerging Countries
                    5.2.4.4 Data Integration
                    5.2.4.5 Operational Gaps Between Payers and Providers
                    5.2.4.6 Dearth of Skilled Personnel

6 Healthcare Analytics Market, By Type (Page No. - 57)
    6.1 Introduction
    6.2 Descriptive Analytics
           6.2.1 Descriptive Analytics are Used to Convert Past Data Into Useful Information
    6.3 Predictive Analytics
           6.3.1 Increasing Incidence of Healthcare Fraud is Driving the Market for Predictive Analytics
    6.4 Prescriptive Analytics
           6.4.1 Prescriptive Analytics to Register Highest Growth Rate During the Forecast Period
    6.5 Cognitive Analytics
           6.5.1 Vendors are Focusing on Introducing Ai-Driven Analytics Solutions

7 Healthcare Analytics Market, By Component (Page No. - 65)
    7.1 Introduction
    7.2 Services
           7.2.1 Support Services
                    7.2.1.1 Support Services Include Implementation, Ongoing It Support, System Integration, Training, and Maintenance Services.
           7.2.2 Business Analytics Services
                    7.2.2.1 Business Analytics Services Help Healthcare Organizations to Optimize the Use of Analytics and Drive Performance Improvement
    7.3 Software
           7.3.1 Healthcare Analytics Software Works as an Interface Between Database and End Users
    7.4 Hardware
           7.4.1 Increasing Adoption of Cloud Servers is Expected to Hinder the Growth of the Hardware Market for Analytics

8 Healthcare Analytics Market, By Delivery Model (Page No. - 73)
    8.1 Introduction
    8.2 On-Premise Delivery Model
           8.2.1 On-Premise Delivery Models Offer Multivendor Architecture, Which Lowers the Risk of Data Breaches & External Attacks
    8.3 On-Demand Delivery Models
           8.3.1 Increasing Volume of Data Generated Across the Healthcare Provider Industry to Drive the Adoption of On-Demand Models

9 Healthcare Analytics Market, By Application (Page No. - 78)
    9.1 Introduction
    9.2 Financial Analytics
           9.2.1 Claims Processing
                    9.2.1.1 Need to Improve Claims Response Time and Avoid Fraudulent Claims Will Support the Use of Analytics Tools
           9.2.2 Revenue Cycle Management (RCM)
                    9.2.2.1 Healthcare Organizations are Rapidly Adopting Predictive Analytics Solutions for Proactive Decision-Making
           9.2.3 Payment Integrity & Fraud, Waste, and Abuse (FWA)
                    9.2.3.1 Implementation of Icd-10 Code Sets and Adoption of Fee-For-Value Systems Will Drive Market Growth
           9.2.4 Risk Adjustment & Assessment
                    9.2.4.1 Risk Adjustment & Assessment Allow for Optimization of Cash Flows and Improved Financial Performance
    9.3 Clinical Analytics
           9.3.1 Quality Improvement & Clinical Benchmarking
                    9.3.1.1 Benchmarking Allows for the Identification of Issues Which are Negatively Impacting Healthcare Systems
           9.3.2 Clinical Decision Support (CDS)
                    9.3.2.1 Predictive Clinical Analytics Reduce Medical Errors and Ensure That Appropriate Tests are Performed, A Key Factor for Market Growth
           9.3.3 Reporting & Compliance
                    9.3.3.1 Stringent Regulatory Requirements Have LED to the Need for Reporting & Compliance Solutions
           9.3.4 Comparative Analytics/Effectiveness
                    9.3.4.1 Growing Adoption of EHRs to Provide Significant Growth Opportunities
           9.3.5 Precision Health
                    9.3.5.1 Strong Government Support for Personalized Medicine is Likely to Drive Market Growth
           9.3.6 Medical Imaging Analytics
                    9.3.6.1 Imaging Analytics Aided By Artificial Intelligence and Machine Learning is Rapidly Expanding Within the Healthcare It Industry
    9.4 Operational & Administrative Analytics
           9.4.1 Supply Chain Analytics
                    9.4.1.1 Growing Requirement to Reduce Healthcare Costs Will Increase the Adoption of Supply Chain Analytics Solutions
           9.4.2 Workforce Analytics
                    9.4.2.1 Need for Real-Time Resource Demand and Supply Data to Drive the Adoption of Workforce Analytics Solutions
           9.4.3 Strategic Analytics
                    9.4.3.1 Strategic Analytics Uses Advanced Analytics Tools to Leverage Operational and Usage Data, A Key Advantage
    9.5 Population Health Analytics
           9.5.1 Population Health Analytics Improves Population Health Outcomes and Lowers Costs, A Key Factor for Market Growth

10 Healthcare Analytics Market, By End User (Page No. - 101)
     10.1 Introduction
     10.2 Payers
             10.2.1 Private Insurance Companies
                        10.2.1.1 Private Insurance Companies to Account for the Largest Share of the Healthcare Analytics Market for Payers in 2019
             10.2.2 Government Agencies
                        10.2.2.1 Increasing Use of Analytics Solutions By Government Agencies Will Boost the Market Growth
             10.2.3 Employers and Private Exchanges
                        10.2.3.1 Private Exchanges and Employers Use Data Analytics for Rapid Data Integration, Health Plan Analysis, and Risk Modeling
     10.3 Providers
             10.3.1 Hospitals, Physician Practices, and IDNS
                        10.3.1.1 The Adoption of Healthcare Analytics Solutions is the Highest in Large Hospitals
             10.3.2 Post-Acute Care Organizations (PACOS)
                        10.3.2.1 PACOS are Focusing on Reviewing and Studying Patient Data With the Help of Healthcare Analytics
             10.3.3 Ambulatory Settings
                        10.3.3.1 The Need to Control Healthcare Costs Will Drive the Growth of This End-User Segment in the Healthcare Analytics Market
     10.4 ACOS, HIES, MCOS, and TPAS

11 Healthcare Analytics Market, By Region (Page No. - 114)
     11.1 Introduction
     11.2 North America
             11.2.1 US
                        11.2.1.1 Adoption of EHRs to Drive the Healthcare Analytics Market in the Us
             11.2.2 Canada
                        11.2.2.1 Need for Managing Patient Volumes, Clinical Data, and Healthcare Costs Will Favor Market Growth
     11.3 Europe
             11.3.1 Germany
                        11.3.1.1 Germany Dominates the Healthcare Analytics Market in Europe
             11.3.2 UK
                        11.3.2.1 Availability of Venture Capital Investments has Grown in the UK
             11.3.3 France
                        11.3.3.1 Strong Financial Support for Digital Health Have Contributed to the Growth of Healthcare Analytics
             11.3.4 Rest of Europe
     11.4 Asia
             11.4.1 Japan
                        11.4.1.1 Rise in Geriatric Population Will Increase the Demand for Effective Patient Management Solutions
             11.4.2 China
                        11.4.2.1 Favorable Reforms and A Growing Number of EHRs Have Contributed to Market Growth in China
             11.4.3 India
                        11.4.3.1 The HCIT Market in India is Still in the Nascent Stage
             11.4.4 Rest of Asia
     11.5 Pacific Countries
             11.5.1 Australia and New Zealand are Focusing on Reducing Healthcare Costs
     11.6 Latin America
             11.6.1 Many Latam Countries Have Undertaken Ehealth Initiatives
     11.7 Middle East and Africa
             11.7.1 High Healthcare Expenditure, Infrastructural Development Will Support the Use of HCIT Solutions in the Middle East

12 Competitive Landscape (Page No. - 200)
     12.1 Overview
     12.2 Ranking of Key Players, 2018
     12.3 Competitive Leadership Mapping
             12.3.1 Vanguards
             12.3.2 Dynamic Differentiators
             12.3.3 Innovators
             12.3.4 Emerging Companies
     12.4 Competitive Scenario
             12.4.1 Partnerships, Agreements, Collaborations, and Alliances
             12.4.2 Product Launches and Enhancements
             12.4.3 Acquisitions
             12.4.4 Expansions

13 Company Profiles (Page No. - 209)
(Business Overview, Products Offered, Recent Developments, MnM View)*
     13.1 Allscripts Healthcare Solutions
     13.2 Cerner
     13.3 Cotiviti (Verscend Technologies)
     13.4 Citiustech
     13.5 Health Catalyst
     13.6 IBM
     13.7 Inovalon
     13.8 Mckesson
     13.9 Medeanalytics
     13.10 Optum
     13.11 Oracle
     13.12 SAS Institute Inc.
     13.13 SCIO Health Analytics (An EXL Company)
     13.14 Vitreoshealth
     13.15 Wipro

*Business Overview, Products Offered, Recent Developments, MnM View might not be captured in case of unlisted companies.

14 Appendix (Page No. - 252)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Available Customizations
     14.4 Related Reports
     14.5 Author Details


List of Tables (231 Tables)

Table 1 Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 2 Descriptive Analytics Market, By Region, 2017–2024 (USD Million)
Table 3 Predictive Analytics Market, By Region, 2017–2024 (USD Million)
Table 4 Prescriptive Analytics Market, By Region, 2017–2024 (USD Million)
Table 5 Cognitive Analytics Market, By Region, 2017–2024 (USD Million)
Table 6 Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 7 Healthcare Analytics Services Market, By Type, 2017–2024 (USD Million)
Table 8 Healthcare Analytics Services Market, By Region, 2017–2024 (USD Million)
Table 9 Healthcare Analytics Support Services Market, By Region, 2017–2024 (USD Million)
Table 10 Healthcare Business Analytics Services Market, By Region, 2017–2024 (USD Million)
Table 11 Healthcare Analytics Software Market, By Region, 2019–2024 (USD Million)
Table 12 Healthcare Analytics Hardware Market, By Region, 2017–2024 (USD Million)
Table 13 Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 14 Healthcare Analytics Market for On-Premise Delivery Models, By Region, 2017–2024 (USD Million)
Table 15 Healthcare Analytics Market for On-Demand Delivery Models, By Region, 2017–2024 (USD Million)
Table 16 Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 17 Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 18 Financial Analytics Market, By Region, 2017–2024 (USD Million)
Table 19 Claims Processing Market, By Region, 2017–2024 (USD Million)
Table 20 Revenue Cycle Management Market, By Region, 2017–2024 (USD Million)
Table 21 Payment Integrity & FWA Market, By Region, 2017–2024 (USD Million)
Table 22 Risk Adjustment & Assessment Market, By Region, 2017–2024 (USD Million)
Table 23 Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 24 Clinical Analytics Market, By Region, 2017–2024 (USD Million)
Table 25 Quality Improvement & Clinical Benchmarking Market, By Region, 2017–2024 (USD Million)
Table 26 Clinical Decision Support Market, By Region, 2017–2024 (USD Million)
Table 27 Reporting & Compliance Market, By Region, 2017–2024 (USD Million)
Table 28 Comparative Analytics/Effectiveness Market, By Region, 2017–2024 (USD Million)
Table 29 Precision Health Market, By Region, 2017–2024 (USD Million)
Table 30 Medical Imaging Analytics Market, By Region, 2017–2024 (USD Million)
Table 31 Operational & Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 32 Operational & Administrative Analytics Market, By Region, 2017–2024 (USD Million)
Table 33 Supply Chain Analytics Market, By Region, 2017–2024 (USD Million)
Table 34 Workforce Analytics Market, By Region, 2017–2024 (USD Million)
Table 35 Strategic Analytics Market, By Region, 2017–2024 (USD Million)
Table 36 Population Health Analytics Market, By Region, 2017–2024 (USD Million)
Table 37 Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 38 Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 39 Healthcare Analytics Market for Payers, By Region, 2017–2024 (USD Million)
Table 40 Healthcare Analytics Market for Private Insurance Companies, By Region, 2017–2024 (USD Million)
Table 41 Healthcare Analytics Market for Government Agencies, By Region, 2017–2024 (USD Million)
Table 42 Healthcare Analytics Market for Employers and Private Exchanges, By Region, 2019–2024 (USD Million)
Table 43 Healthcare Analytics Market for Providers, By Type, 2017–2024 (USD Million)
Table 44 Healthcare Analytics Market for Hospitals, Physician Practices, and IDNS, By Region, 2017–2024 (USD Million)
Table 45 Healthcare Analytics Market for PACOS, By Region, 2017–2024 (USD Million)
Table 46 Healthcare Analytics Market for Ambulatory Settings, By Region, 2017–2024 (USD Million)
Table 47 Healthcare Analytics Market for ACOS, HIES, MCOS, and TPAS, By Region, 2017–2024 (USD Million)
Table 48 Healthcare Analytics Market, By Region, 2017–2024 (USD Million)
Table 49 North America: Healthcare Analytics Market, By Country, 2017–2024 (USD Million)
Table 50 North America: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 51 North America: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 52 North America: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 53 North America: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 54 North America: Operational and Administrative Analytics Market, By Type, 2017-2024 (USD Million)
Table 55 North America: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 56 North America: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 57 North America: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 58 North America: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 59 North America: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 60 North America: Healthcare Analytics Market for Providers, By Type, 2017–2024 (USD Million)
Table 61 US: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 62 US: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 63 US: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 64 US: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 65 US: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 66 US: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 67 US: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 68 US: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 69 US: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 70 US: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 71 US: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 72 Canada: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 73 Canada: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 74 Canada: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 75 Canada: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 76 Canada: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 77 Canada: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 78 Canada: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 79 Canada: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 80 Canada: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 81 Canada: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 82 Canada: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 83 Europe: Healthcare Analytics Market, By Country, 2017–2024 (USD Million)
Table 84 Europe: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 85 Europe: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 86 Europe: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 87 Europe: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 88 Europe: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 89 Europe: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 90 Europe: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 91 Europe: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 92 Europe: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 93 Europe: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 94 Europe: Healthcare Analytics Market for Providers, By Type, 2017–2024 (USD Million)
Table 95 Germany: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 96 Germany: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 97 Germany: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 98 Germany: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 99 Germany: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 100 Germany: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 101 Germany: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 102 Germany: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 103 Germany: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 104 Germany: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 105 Germany: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 106 UK: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 107 UK: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 108 UK: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 109 UK: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 110 UK: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 111 UK: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 112 UK: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 113 UK: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 114 UK: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 115 UK: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 116 UK: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 117 France: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 118 France: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 119 France: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 120 France: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 121 France: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 122 France: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 123 France: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 124 France: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 125 France: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 126 France: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 127 France: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 128 RoE: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 129 RoE: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 130 RoE: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 131 RoE: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 132 RoE: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 133 RoE: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 134 RoE: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 135 RoE: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 136 RoE: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 137 RoE: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 138 RoE: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 139 Asia: Healthcare Analytics Market, By Country, 2017–2024(USD Million)
Table 140 Asia: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 141 Asia: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 142 Asia: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 143 Asia: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 144 Asia: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 145 Asia: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 146 Asia: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 147 Asia: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 148 Asia: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 149 Asia: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 150 Asia: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 151 Japan: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 152 Japan: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 153 Japan: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 154 Japan: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 155 Japan: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 156 Japan: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 157 Japan: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 158 Japan: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 159 Japan: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 160 Japan: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 161 Japan: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 162 China: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 163 China: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 164 China: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 165 China: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 166 China: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 167 China: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 168 China: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 169 China: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 170 China: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 171 China: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 172 China: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 173 India: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 174 India: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 175 India: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 176 India: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 177 India: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 178 India: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 179 India: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 180 India: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 181 India: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 182 India: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 183 India: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 184 RoA: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 185 RoA: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 186 RoA: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 187 RoA: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 188 RoA: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 189 RoA: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 190 RoA: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 191 RoA: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 192 RoA: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 193 RoA: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 194 RoA: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 195 Pacific Countries: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 196 Pacific Countries: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 197 Pacific Countries: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 198 Pacific Countries: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 199 Pacific Countries: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 200 Pacific Countries: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 201 Pacific Countries: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 202 Pacific Countries: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 203 Pacific Countries: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 204 Pacific Countries: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 205 Pacific Countries: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 206 Latam: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 207 Latam: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 208 Latam: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 209 Latam: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 210 Latam: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 211 Latam: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 212 Latam: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 213 Latam: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 214 Latam: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 215 Latam: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 216 Latam: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 217 Middle East and Africa: Healthcare Analytics Market, By Type, 2017–2024 (USD Million)
Table 218 Middle East and Africa: Healthcare Analytics Market, By Application, 2017–2024 (USD Million)
Table 219 Middle East and Africa: Financial Analytics Market, By Type, 2017–2024 (USD Million)
Table 220 Middle East and Africa: Clinical Analytics Market, By Type, 2017–2024 (USD Million)
Table 221 Middle East and Africa: Operational and Administrative Analytics Market, By Type, 2017–2024 (USD Million)
Table 222 Middle East and Africa: Healthcare Analytics Market, By Component, 2017–2024 (USD Million)
Table 223 Middle East and Africa: Healthcare Analytics Market for Services, By Type, 2017–2024 (USD Million)
Table 224 Middle East and Africa: Healthcare Analytics Market, By Delivery Model, 2017–2024 (USD Million)
Table 225 Middle East and Africa: Healthcare Analytics Market, By End User, 2017–2024 (USD Million)
Table 226 Middle East and Africa: Healthcare Analytics Market for Payers, By Type, 2017–2024 (USD Million)
Table 227 Middle East and Africa: Healthcare Analytics Market for Providers, By Type, 2017-2024 (USD Million)
Table 228 Partnerships, Agreements, and Collaborations
Table 229 Product Launches and Enhancements
Table 230 Acquisitions
Table 231 Expansions


List of Figures (43 Figures)

Figure 1 Healthcare Analytics Market: Market Segmentation
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Healthcare Analytics Market, By Type, 2019 vs 2024 (USD Billion)
Figure 8 Healthcare Analytics Market, By Application, 2019 vs 2024 (USD Billion)
Figure 9 Healthcare Analytics Market, By Component, 2019 vs 2024 (USD Billion)
Figure 10 Healthcare Analytics Market, By Delivery Model, 2019 vs 2024 (USD Billion)
Figure 11 Healthcare Analytics Market, By End User, 2019 vs 2024 (USD Million)
Figure 12 Geographical Snapshot: Healthcare Analytics Market
Figure 13 Government Initiatives to Increase EHR Adoption and Growing Pressure to Curb Healthcare Costs are Driving Market Growth
Figure 14 Predictive Analytics to Grow at the Highest CAGR During the Forecast Period
Figure 15 Services to Dominate the Healthcare Analytics Market
Figure 16 On-Demand Delivery Model to Grow at A Higher Rate During the Forecast Period
Figure 17 North America to Hold the Largest Share of the Financial Analytics Market in 2019
Figure 18 Payers to Lead the Healthcare Analytics End-User Segment During the Forecast Period
Figure 19 The US to Witness the Highest Growth During the Forecast Period
Figure 20 Healthcare Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 EHR Adoption Rate Among Healthcare Providers in the US (2012–2017)
Figure 22 Healthcare Spending as A Percentage of the GDP, By Country, 2017
Figure 23 Prescriptive Analytics Market to Witness High Growth During the Forecast Period
Figure 24 Services Segment to Dominate Healthcare Analytics Market During the Forecast Period
Figure 25 On-Demand Delivery Model to Register the Highest Growth During the Forecast Period
Figure 26 Clinical Analytics to Register the Highest CAGR During the Forecast Period
Figure 27 Providers Segment to Grow at the Highest CAGR During the Forecast Period
Figure 28 North America: Healthcare Analytics Market Snapshot (2019)
Figure 29 Europe: Healthcare Analytics Market Snapshot (2019)
Figure 30 Asia: Healthcare Analytics Market Snapshot (2019)
Figure 31 Key Developments in the Healthcare Analytics Market From 2015–2018
Figure 32 Market Evolution Framework - Partnerships, Agreements, Collaborations, and Alliances Were Adopted By Key Players
Figure 33 IBM LED the Healthcare Analytics Market in 2018
Figure 34 Competitive Leadership Mapping of the Healthcare Analytics Market
Figure 35 Allscripts: Company Snapshot
Figure 36 Cerner: Company Snapshot
Figure 37 IBM: Company Snapshot
Figure 38 Inovalon: Company Snapshot
Figure 39 Mckesson: Company Snapshot
Figure 40 Unitedhealth Group: Company Snapshot
Figure 41 Oracle: Company Snapshot
Figure 42 SAS Institute: Company Snapshot
Figure 43 Wipro: Company Snapshot

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The study involved four major activities in estimating the current size of the healthcare analytics market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate findings, assumptions, and sizes with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary research was mainly used to identify and collect information for the extensive, technical, market-oriented, and commercial study of the market. Secondary sources including directories; databases such as Bloomberg Business, Factiva, and Wall Street Journal; white papers; and annual reports were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.

Primary Research

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify the critical qualitative and quantitative information as well as assess the future prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents follows:

Healthcare Analytics Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The healthcare analytics revenue generated by leading players has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, and forecast the global market on the basis of type, component, delivery model, application, end user, and region.
  • To provide detailed information regarding the factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the market.
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders.
  • To forecast the size of market segments in North America, Europe, Asia, Pacific Countries, Latin America (LATAM), and the Middle East and Africa.
  • To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies.
  • To track and analyze competitive developments, such as product launches and enhancements, agreements, partnerships, collaborations, acquisitions, and expansions in the market.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Type, component, delivery model, application, end user, and region.

Geographies covered

North America, Europe, Asia, Pacific countries, Latin America (LATAM), and the Middle East and Africa

Companies covered

Allscripts (US), Cerner (US), Citius Tech (US), Cotiviti (Verscend Technologies), Health Catalyst (US), IBM (US), Innovalon (US), McKesson (US), MedeAnalytics (US), Optum (US), Oracle (US), SAS Institute (US), SCIO Health Analytics (US), Viteros Health (US), and Wipro (India)

This report categorizes the healthcare analytics market into the following segments and subsegments:

On the basis of type, the Market of healthcare analytics has been segmented as follows:

  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics
  • Cognitive Analytics

On the basis of component, the Market of healthcare analytics has been segmented as follows:

  • Services
    • Support Services
    • Business Analytics Services
  • Software
  • Hardware

On the basis of application, the Market of healthcare analytics has been segmented as follows:

  • Financial Analysis
    • Claims Processing
    • Revenue Cycle Management
    • Payment Integrity and Fraud, Waste, & Abuse
    • Risk Adjustment and Risk Assessment
  • Operational & Administrative Analysis
    • Supply Chain Analysis
    • Workforce Analysis
    • Strategic Analysis
  • Clinical Analysis
    • Quality Improvement and Clinical Benchmarking
    • Clinical Decision Support
    • Reporting and Compliance
    • Comparative Analytics/Effectiveness
    • Precision Health
    • Medical Imaging Analytics
  • Population Health Analytics

On the basis of delivery model, the Market of healthcare analytics has been segmented as follows:

  • On-premise model
  • On-demand model

On the basis of end users, the Market of healthcare analytics has been segmented as follows:

  • Payers 
    • Private Insurance Companies
    • Government Agencies
    • Employers and Private Exchanges
  • Providers            
    • Hospitals, Physician Practices, and IDNs
    • Post-acute Care Organizations
    • Ambulatory Settings
  • Health information exchanges (HIEs), accountable care organizations (ACOs), managed care organizations (MCOs), and third-party administrators (TPAs)

On the basis of region, the Market of healthcare analytics has been segmented as follows:

  • North America
  • Europe
  • Asia
  • Latin America
  • Pacific Countries
  • Middle East and Africa

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The following customization options are available for this report:

Company Information

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Report Code
HIT 2180
Published ON
Jan, 2019
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