The report on Healthcare Analytics  Market by product (descriptive, prescriptive and predictive), application (financial analytics, operational analytics, population health analytics and clinical analytics), end users (physicians, clinics, hospitals and others) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Healthcare Analytics Market is projected to grow at a CAGR of 12.5% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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Market Insights

Currently, the global healthcare industry is experiencing fundamental transformation to a value based business from a volume based business. With the increasing demand from consumers for improved healthcare quality and enhanced value, the healthcare providers and payers around the world are challenged by reduction of costs, improve better outcomes, provide more with less and be more patient centric. Similarly, the cost dynamics of the healthcare industry are changing drastically, which is mainly driven by the prevalence of chronic and infectious diseases, and defensive medicine practices. Large number of new market entrants and innovative healthcare approaches to deliver the treatments is increasing the complexity and competition. As a result, the healthcare industry is becoming more and more complex over the next few years. This immense complexity could challenge the global healthcare industry implementing smarter and more informed decisions, to deliver better value and improved outcomes. In addition, the increasing regulatory presence of government creates additional focus on accountability, governance and oversight on the industry.

Market dynamics and competitive pressures require enhanced understanding of underlying trends and a path to differentiation. Building analytics competency will enable the healthcare organizations to deliver better outcomes, set their future vision and create actionable insights. Analytics can improve effectiveness and efficiency. From managing small issues to larger processes, these analytics can aid assessment and discovery of innovative insights, which ultimately help design and plan policy, improve service delivery operations, enhance sustainability, mitigate risk and evaluating critical organizational data. Some of the restraining factors that could hinder the growth of the market include data breach or security issues, technological and cultural barriers at the data source point, confidentiality issues and lack of skilled personnel across the globe. In addition, associated break points in creating global healthcare analytics network due to fragmented international political and economic relations may also pose a major threat towards the growth of the healthcare analytics market.

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Segment Covered

The report on global healthcare analytics market covers segments such as, product, application and end user. On the basis of product the global healthcare analytics market is categorized into descriptive analytics, prescriptive analytics and predictive analytics. On the basis of application the global healthcare analytics market is categorized into financial analytics, operational analytics, population health analytics and clinical analytics. On the basis of end user the global healthcare analytics market is categorized into physicians, clinics, hospitals and others.

Geographic Coverage

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023. 

North America dominates the healthcare analytics market, which is evident from the presence of key market players in the United States. Moreover, the large market share is attributable to the impact of legislations in the U.S such as Electronic Health Records (EHR), and incentives funded by the Health Information Technology for Economic and Clinical Health (HITECH).

Companies Profiled:

The report provides profiles of the companies in the global healthcare analytics market such as, Cerner Corporation, Inovalon Holdings Inc., International Business Machines Corporation, Athenahealth Inc, OptumHealth Inc., Change Healthcare, Computer Programs and Systems Inc., McKesson Corporation, Tenet Healthcare Corporation and Allscripts Healthcare Solutions Inc.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global healthcare analytics market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of healthcare analytics market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the healthcare analytics market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the healthcare analytics market to understand the present and future trends in this market and formulate their strategies accordingly.