Healthcare Analytics Market

Healthcare Analytics Market worth $50.5 billion by 2024

The global Healthcare Analytics Market is estimated to be valued at USD 14.0 billion in 2019. This market is projected to grow at a CAGR of 28.3% during the forecast period to reach USD 50.5 billion by 2024. The growing adoption of data-driven decision-making and the implementation of initiatives to increase EHR adoption by governments in several countries are the major factors driving the growth of this market. Some of the other major factors supporting market growth include the emergence of big data in healthcare, rising pressure to reduce healthcare spending while improving patient outcomes, and the increasing number of patient registries.

Browse 231 market data Tables and 43 Figures spread through 259 Pages and in-depth TOC on "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"

View detailed Table of Content here -

The financial analytics application segment is estimated to be the largest segment in the healthcare analytics market in 2019

Clinical analytics, financial analytics, operational & administrative analytics, and population health analytics are the four major application segments in the healthcare analytics market. Globally, healthcare organizations are increasingly focusing on cutting costs and implementing processes that ensure the profitability of their operations. This has created a significant demand for financial analytics as it provides healthcare organizations with relevant knowledge about effective budgeting, forecasting, and revenue cycle management. As a result, the financial analytics segment is expected to account for the largest share of the market in 2019. However, the clinical analytics segment is estimated to grow at the highest CAGR during the forecast period and would be the largest application segment in this market by 2024

The on-demand healthcare analytics segment is expected to witness high growth during the forecast period 

Based on the delivery model, the healthcare analytics market is segmented into on-premise and on-demand models. The on-demand delivery model segment is estimated to grow at a higher CAGR during the forecast period owing to the advantages associated with this model over on-premise models. On-demand delivery models are highly adaptable, easy to use, affordable, and reliable; require no upfront capital investment for hardware; have extreme capacity flexibility, and involve pay-as-you-go pricing.

North America is estimated to be the largest regional market for healthcare analytics in 2019

The healthcare analytics market is segmented into six major regions, namely, North America, Europe, Asia, the Pacific region, Latin America, and the Middle East and Africa. In 2019, North America is expected to account for the largest share of the market, followed by Europe. The large share of the North American market can majorly be attributed to the high and growing adoption of healthcare analytics solutions and services by healthcare providers (especially in the US) in the region.

The prominent players operating in this market include IBM (US), Optum, Inc. (US), Cerner (US), SAS Institute, Inc. (US), Allscripts Healthcare Solutions (US), McKesson (US), MedeAnalytics, Inc. (US), Inovalon (US), Oracle (US), and Health Catalyst (US).

Don’t miss out on business opportunities in Healthcare Analytics Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Report Code
HIT 2180
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Healthcare Analytics Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2021 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets