About Healthcare Data Analytics
Healthcare data analytics is collect the data from a wide variety of sources such as sensors, images, traditional electronic records and text in the form of biomedical literature/clinical notes and represents in a systematic way. The healthcare industry is transforming and driven by increasing costs of facilities and an aging population worldwide. The global population is estimated to be 8.1 billion in 2025 and out of that 2.1 billion people aged above 50. According to the world health organization in 2025, nearly 70% of illnesses will be choric conditions. Health care spending is expected to reach 18.3 trillion USD by 2030 globally. These factors are forcing to grow the healthcare data analytics market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are International Business Machines Corporation, Oracle Corporation, Health Catalyst, Optum, Inc.. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Healthcare Data Analytics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
International Business Machines Corporation (United States), Oracle Corporation (United States), Health Catalyst (United States), Optum, Inc. (United States), SAS Institute, Inc. (United States), Allscripts Health Solutions (United States), McKesson Corporation (United States), MedeAnalytics, Inc. (United States), Cerner Corporation (United States) and Inovalon (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are SCIO Health Analytics (United States), Verscend Technologies, Inc. (United States), CitiusTech, Inc. (United States), Wipro Limited (India) and VitreosHealth (United States).
Segmentation Overview
AMA Research has segmented the market of Global Healthcare Data Analytics market by Type (Descriptive Analytics, Predictive Analytics and Prescriptive Analytics), Application (Clinical Analytics, Financial Analytics, Operational and Administrative Analytics and Population Health Analytics) and Region.
On the basis of geography, the market of Healthcare Data Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Delivery Model, the sub-segment i.e. On-Premise will boost the Healthcare Data Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Verticals , the sub-segment i.e. Healthcare Provider will boost the Healthcare Data Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Healthcare Data Analytics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Digitalization of Healthcare Data in Hospitals
Market Growth Drivers:
Rising In Demand among Healthcare Organizations and Hospitals and Increasing Healthcare Spending and Growing Healthcare Industry Worldwide
Restraints:
High Cost of Healthcare Analytics Solutions
Opportunities:
Data Privacy Gap between Medical Researchers and Computer Scientists
Market Leaders and their expansionary development strategies
On January 3, 2018, McKesson Corporation has announced that it has completed the acquisition of RxCrossroads. From this acquisition, McKesson has become a partner with pharmaceutical manufacturers, providers, pharmacies, governments, and other organizations in healthcare to help provide the medical products, right medicines, and healthcare services to the right patients at the right time, cost-effectively, and safely.
In September 2023, Artificial intelligence and analytics company SAS has launched a new transformative healthcare platform that will simplify health data and management, improve data governance and accelerate patient insights.
Key Target Audience
Hospitals, Physician Practices, and IDNs, Post-acute Organizations, Ambulatory Settings, Regulatory & Government Bodies, Private Insurance Companies and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.