The healthcare analytics market is expected to reach USD 29.84 Billion by 2022 from USD 8.92 Billion in 2017, at a CAGR of 27.3%. Factors such as increasing government initiatives to increase EHR adoption, growing pressure to curb healthcare costs, availability of big data in healthcare, increasing venture capital investments, rising focus on improving patient outcomes, and technological advancements are driving the growth of this market.

Partnerships, agreements, collaborations, and alliances accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include Allscripts (US), Cerner (US), Health Catalyst (US), IBM (US), Inovalon (US), McKesson (US), MedeAnalytics (US), Optum (US), Oracle (US), SAS (US), Wipro (India), CitusTech (US), VitreosHealth (US), and SCIO Health (US).

The healthcare analytics market is highly competitive with several big and small players. Prominent players in this market include Allscripts (US), Cerner (US), Health Catalyst (US), IBM (US), Inovalon (US), McKesson (US), MedeAnalytics (US), Optum (US), Oracle (US), SAS (US), Wipro (India), Verscend (US), CitusTech (US), VitreosHealth (US), SCIO Health (US), Infosys (India), PluralSoft (US), SAP (US), LexisNexis (US), Informatica (US), Microsoft (US), Wellcentive (US), Caradigm (US), Saama Technologies (US), and iVantage Health Analytics (US).

IBM is a leading player in the healthcare analytics market. The company’s position can be attributed to its robust product portfolio in healthcare analytics. The company has a strong presence in 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. 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 acquire a major share of the healthcare analytics market.

SAS Institute held the second position in the healthcare analytics market in 2016. The company is known for its innovative analytics, business intelligence, and data management software and services. With a wide product portfolio and large geographic presence, SAS Institute has managed to create a unique identity in the healthcare analytics market. The company’s presence in around 148 countries plays an important role in the growth of its market share. To maintain its position in the market, SAS focuses on organic and inorganic strategies such as collaborations, partnerships, and agreements.

Related Reports:

Healthcare Analytics/Medical Analytics Market by Type (predictive, prescriptive) Application (Clinical, RCM, Claim, Fraud, Waste, Supply Chain, PHM) Component (Service, Software) Delivery (On demand, Cloud) End User (Payer, Hospital, ACO) - Global Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com