Healthcare Analytics Market is Expected to Reach USD 163 billion by 2030; Driven by Increasing Focus on Healthcare Fraud Detection and Prevention

Healthcare Analytics Market Scope & Overview

The Healthcare Analytics Market is forecasted to reach a value of USD 34.64 billion by 2022, with an expected compound annual growth rate (CAGR) of 21.4% from 2023 to 2030. By 2030, it is estimated that the market will expand to USD 163 billion, as stated in the SNS Insider report.

Healthcare analytics refers to the systematic analysis of healthcare data to derive insights and make informed decisions in the healthcare industry. It involves the collection, integration, and analysis of vast amounts of data from various sources such as electronic health records (EHRs), medical claims, clinical trials, wearable devices, and patient-generated data.

Market Analysis

One of the key drivers behind the growth of the healthcare analytics market is the pressing need for improved patient care. Analytics solutions enable healthcare professionals to gain a comprehensive understanding of patient data, including medical history, treatment outcomes, and risk factors. By analyzing this information, healthcare providers can make more accurate diagnoses, develop personalized treatment plans, and monitor patient progress more effectively. As a result, patient outcomes are enhanced, leading to higher levels of satisfaction and improved quality of care.

Key Players Covered in Healthcare Analytics market report are: Allscripts healthcare, llc, health catalyst, Optum, inc., Hms(vitreoshealth), Cerner corporation, Sas institute inc., International business machines corporation, Oracle corporation, and Medeanalytics inc, and other players.

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Impact of Recession

A recession can have both positive and negative impacts on the healthcare analytics market. While budget constraints and delayed investments may pose challenges, the focus on efficiency, evidence-based decision-making, population health management, and government initiatives can create opportunities. Despite short-term fluctuations, the long-term outlook for the market remains promising, driven by the industry’s ongoing transformation and the recognition of analytics as a key driver of improved patient outcomes and cost savings.

Segmentation Analysis

In the dynamic landscape of healthcare analytics market, descriptive analysis and on-premise solutions emerge as dominant segments, each offering distinct advantages. Descriptive analysis enables healthcare organizations to uncover meaningful insights from historical data, facilitating evidence-based decision-making and improved patient care. On-premise solutions, on the other hand, ensure enhanced security, control, and customizability, addressing the specific needs and regulatory requirements of the healthcare sector.

Healthcare Analytics Market Segmentation as Follows:

By Type

• Descriptive Analysis
• Predictive Analysis
• Prescriptive Analysis

By Component type

• Software
• Hardware
• Services

By Delivery Mode Type

• On-premises
• Web-hosted
• Cloud-based

By Application Type

• Clinical
• Financial
• Operational and Administrative

By End-use

• Healthcare Payers
• Healthcare Providers
• Life Science Companies

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Regional Status & Analysis

North America’s leadership in the healthcare analytics market is a result of its state-of-the-art healthcare facilities, widespread adoption of analytics platforms, and technological advancements. The region’s proactive approach towards addressing the rising burden of chronic diseases and the aging population has driven the need for analytics tools in healthcare organizations. By leveraging these tools, North America is at the forefront of revolutionizing healthcare delivery, enhancing patient outcomes, and shaping the future of healthcare analytics on a global scale.

Conclusion

The market holds immense potential for future growth and development. The increasing adoption of EHRs, advancements in big data analytics and AI, the focus on population health management, and the need for cost containment and operational efficiency are key drivers contributing to the market’s positive prospects.

Frequently Asked Questions/ Key Reasons to Purchase this Report

What is the projected outlook for healthcare analytics market growth?

• The market is projected to experience significant growth, reaching a valuation of USD 163 billion by the year 2030.

What are the major factors influencing the healthcare analytics market?

• The integration of healthcare analytics into every aspect of the industry is transforming the way healthcare is delivered, ultimately leading to improved outcomes for patients and the industry as a whole.

Who are the leading players in the healthcare analytics market?

• Allscripts healthcare, llc, Cerner corporation, health catalyst, Optum, inc., Hms(vitreoshealth), Sas institute inc., Oracle corporation, International business machines corporation, and Medeanalytics inc.

Table of Content – Analysis of Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Healthcare Analytics Market Segmentation, By Type

9. Healthcare Analytics Market Segmentation, By Component type

10. Healthcare Analytics Market Segmentation, By Delivery Mode Type

11. Healthcare Analytics Market Segmentation, By Application Type

12. Healthcare Analytics Market Segmentation, By End-use

13. Regional Analysis

14 Company Profiles

15 Competitive Landscape

16 Conclusion

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