Healthcare Predictive Analytics Market
Healthcare Predictive Analytics Market Size, Share & Trends Analysis Report, By Component (Software, Services), By Deployment Model (Cloud Based, On-premises), By Application (Clinical Data Analytics, Financial Data Analytics, Research Data Analytics, Operations Management, and Others), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Healthcare predictive analytics market is anticipated to grow at a significant CAGR of 25.5% during the forecast period. Healthcare predictive analytics support healthcare organizations, hospitals, and doctors to access, analyze, and process patient data to provide data-based quality care, accurate diagnosis, and personalized treatments. In August 2023, a survey conducted by the Healthcare Information and Management Systems Society (HIMSS) and healthcare data analytics company Arcadia about the current state of healthcare analytics platforms demonstrates that less than 60 percent of health systems’ data is used to inform intelligent business decisions.
Access to high-quality data, organization size, analytics investment challenges, data accuracy, and data utilization play major roles in the current healthcare data analytics landscape. In March 2023, SpectrumAi raised $20 million in Series A funding, with investment led by CVS Health Ventures. The funding will help the startup push its applied behavior analysis (ABA) electronic health record, Twyll, and Patterns, its network analytics platform. The growing investment in healthcare predictive analytics technologies is anticipated to offer lucrative opportunities for the growth of the global market.
Segmental Outlook
The global healthcare predictive analytics market is segmented based on component, deployment model, and application. Based on components, the market is segmented into software and services. Based on the deployment model, the market is segmented into cloud-based and on-premises. Based on application, the market is segmented into clinical data analytics, financial data analytics, research data analytics, operations management, and others.
Clinical Data Analytics Held Considerable Share in Global Healthcare Predictive Analytics Market
Clinical data analytics has emerged as a significant area of focus for IT players among healthcare providers, who are moving toward adopting accountable patient care. Clinical analytics is a field that makes use of real-time medical data to generate insights, make decisions, increase revenues, and save on costs. The implementation of clinical analytics in organizations has led to reduced medication errors, improved population health, and cost savings for many organizations. The rapid advancements in key technologies and the adoption of electronic health records (EHRs) have led to the growth of this market segment. With the emergence of smart mobile devices and the app economy, patients expect high-quality care in hospitals which has further contributed to the growth of this market segment.
Regional Outlooks
The global healthcare predictive analytics market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the growing geriatric population coupled with sophisticated healthcare infrastructure along with investment in healthcare analytics. Moreover, an increasing number of government initiatives that aim to promote the application of AI, ML, and analytics in healthcare organizations are further contributing to the regional market growth.
Global Healthcare Predictive Analytics Market Growth, by Region 2023-2030
North America Held Considerable Share in the Global Healthcare Predictive Analytics Market
The presence of a huge geriatric population which is highly prone to chronic disorders and the rising interest of healthcare organizations towards utilization of predictive analytics for better patient care are some of the prominent factors contributing to the high share of the regional market. The growing funding for predictive analytics platform startups is further contributing to regional market growth. For instance, in July 2021, Cincinnati-based Bon Secours Mercy Health made a strategic investment in healthcare analytics firm Trilliant Health. The health system’s goal is to accelerate the development of Trilliant’s predictive analytics platform, while also gaining access to data on national and local healthcare trends.
Market Players Outlook
The major companies serving the global healthcare predictive analytics market include Cerner Corp., Information Builders Inc., IBM Corp., Oracle Corp., and Health Catalyst among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
For instance, in October 2021, Digital behavioral health company SonderMind acquired Qntfy, a predictive analytics platform that uses mental health biometric data to suggest potential treatment options. SonderMind’s platform connects patients with therapists for virtual and in-person visits while managing operations like payments and the telehealth suite. The deal will allow the company to deliver personalized care using data without loading that extra work on mental healthcare providers.
In the same month, Signant Health made a strategic investment in ThoughtSphere, a leading provider of data aggregation and analytics software that helps clinical trial sponsors and contract research organizations (CROs) take control over the increasing volume and variety of clinical trial data. With this investment, Signant now offers customers additional opportunities beyond data capture to cover the full continuum of the patient-data journey, up to the point of regulatory dossier and submission.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global healthcare predictive analytics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Cerner Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Information Builders Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Oracle Corp.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Health Catalyst Inc.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
4. Market Segmentation
4.1. Global Healthcare Predictive Analytics Market by Component
4.1.1. Software
4.1.2. Services
4.2. Global Healthcare Predictive Analytics Market by Deployment Model
4.2.1. Cloud-Based
4.2.2. On-premises
4.3. Global Healthcare Predictive Analytics Market by Application
4.3.1. Clinical Data Analytics
4.3.2. Financial Data Analytics
4.3.3. Research Data Analytics
4.3.4. Operation Management
4.3.5. Other
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Cerner Corp.
6.2. CitiusTech, Inc.
6.3. CloudMedx, Inc.
6.4. Cognizant Technology Solution U.S Corp.
6.5. Epic Systems Corp.
6.6. Google, LLC
6.7. Greenway Health, LLC
6.8. IMAT solutions
6.9. Inovalon Holdings, Inc.
6.10. McKesson Corp.
6.11. MedeAnalytics, Inc.
6.12. Microsoft Corp.
6.13. NextHealth Technologies, Inc.
6.14. SCIO Health Analytics
6.15. SYNERGEN Health, LLC
6.16. Vizient, Inc.
1. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT,2022-2030 ($ MILLION)
2. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL,2022-2030 ($ MILLION)
5. GLOBAL CLOUD-BASED HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL ON-PREMISES HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION,2022-2030 ($ MILLION)
8. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR CLINICAL DATA ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR FINANCIAL DATA ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR RESEARCH DATA ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR OPERATION MANAGEMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. NORTH AMERICAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
15. NORTH AMERICAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
16. NORTH AMERICAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2022-2030 ($ MILLION)
17. NORTH AMERICAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
18. EUROPEAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. EUROPEAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
20. EUROPEAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2022-2030 ($ MILLION)
21. EUROPEAN HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2022-2030 ($ MILLION)
25. ASIA-PACIFIC HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
26. REST OF THE WORLD HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
27. REST OF THE WORLD HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
28. REST OF THE WORLD HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2022-2030 ($ MILLION)
29. REST OF THE WORLD HEALTHCARE PREDICTIVE ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY COMPONENT, 2022 VS 2030(%)
2. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY DEPLOYMENT MODEL, 2022 VS 2030(%)
3. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY APPLICATION, 2022 VS 2030(%)
4. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS SOLUTION MARKET SHARE BY REGION, 2022 VS 2030(%)
5. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS SERVICE MARKET SHARE BY REGION, 2022 VS 2030(%)
6. GLOBAL CLOUD-BASED HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
7. GLOBAL ON-PREMISES HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
8. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR CLINICAL DATA ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
9. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR FINANCIAL DATA ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
10. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR RESEARCH DATA ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
11. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR OPERATION MANAGEMENT MARKET SHARE BY REGION, 2022 VS 2030(%)
12. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS FOR OTHER MARKET SHARE BY REGION, 2022 VS 2030(%)
13. GLOBAL HEALTHCARE PREDICTIVE ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030(%)
14. US HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
15. CANADA HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
16. UK HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
17. FRANCE HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
18. GERMANY HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
19. ITALY HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
20. SPAIN HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
21. REST OF EUROPE HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
22. INDIA HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
23. CHINA HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
24. JAPAN HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
25. SOUTH KOREA HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF ASIA-PACIFIC HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF THE WORLD HEALTHCARE PREDICTIVE ANALYTICS MARKET SIZE, 2022-2030 ($ MILLION)
