Predictive Analytics in Healthcare Market Scope
Predictive Analytics in the Healthcare market is expected to grow in the future due to improving efficiencies for the operational management of health care business operations, accuracy of diagnosis and treatment in personalized medicine, and increased insights to enhance cohort treatment. It helps to encourage data-sharing to produce more results that are accurate.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Allscripts Healthcare Solutions (United States), Cerner Corporation (United States), IBM Corporation (United States), Information Builders (United States), MedeAnalytics (United States), Optum (United States), Oracle Corporation (United States), SAS Institute (United States), Microsoft Corporation (United States) and Verisk Analytics Inc (United States) |
CAGR | % |
Global Predictive Analytics in the Healthcare market is highly fragmented in nature owing to the presence of a large number of market players across the globe. Various market strategies including partnership, collaborations, expansions, and setting up new facilities are expected to be used by these market players in order to increase their market share and strengthen market position in the global market over the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Predictive Analytics in Healthcare market throughout the predicted period.
Allscripts Healthcare Solutions (United States), Cerner Corporation (United States), IBM Corporation (United States), Information Builders (United States), MedeAnalytics (United States), Optum (United States), Oracle Corporation (United States), SAS Institute (United States), Microsoft Corporation (United States) and Verisk Analytics Inc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Viteros Health (United States) and Wipro (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Predictive Analytics in Healthcare market by Type , by Application (Operations Management, Reporting & Compliance, Financial Data Analytics, Population Health and Clinical) and Region with country level break-up.
On the basis of geography, the market of Predictive Analytics in Healthcare 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2020, Allscripts and Microsoft Corp. announced the extension of their long-standing strategic alliance to enable the expanded development and delivery of cloud-based health IT solutions.
In Mar 2020, Information Builders Inc. announced new capabilities with its healthcare information management platform, Omni-HealthData, that enable better understanding and use of social determinants of health (SDOH) in providing quality patient care and integrated services. Omni-HealthData brings together clinical and SDOH data within a geospatial context that helps identify individuals and populations for care interventions and delivers insights for strategic healthcare initiatives.
Influencing Trend:
Technological Development in Drug Discovery
Market Growth Drivers:
Rising Demand for Personalized and Evidence-based Medicine and Increasing Incidence of Healthcare Fraud
Challenges:
Lack of Skilled Professionals
Restraints:
Data privacy and theft issues and High Cost of Analytics Solutions
Opportunities:
Government Initiatives to Support Digitization in the Healthcare Industry and Rising Adoption of Cloud-Based Analytics Solutions in the Healthcare Industry
Key Target Audience
Predictive Analytics in Healthcare Provider, Technology Provider, Potential Investors, Research Firm, Technology Investors, Healthcare Industry and Others