Market Research Report

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1032908

Global Healthcare Analytics Market by Type (Descriptive, Prescriptive, Cognitive), Component (Services, Hardware), Application (Financial, RCM, Fraud, Clinical), Deployment (On-premise, Cloud), End-user (Providers, Payer) - Global Forecast to 2027

Published: October 9, 2021 |

SPER Market Research Pvt. Ltd. | 213 Pages | Delivery time: 1-2 business days

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The global Healthcare analytics market is expected to grow at a CAGR of ~26% from 2021 to reach USD 85.8 billion by 2027. The growth is primarily attributed to government initiatives, growing investments, increasing EHR adoption, emphasis on reducing healthcare expenditure, and evolution of big data in healthcare. However, lack of skilled personnel and high cost of analytics can pose a significant challenge. Growing focus on value-based care, increasing focus on AR/VR analytics, and rising adoption of analytics in emerging countries offer significant opportunities.

By Type: Descriptive analytics dominated the healthcare analytics market in 2020

By type, healthcare analytics market is segmented into descriptive, predictive, prescriptive and cognitive analytics. Descriptive analytics segment accounted for the largest share of healthcare analytics market. The largest share of this segment is mainly due to its use in the effective application of predictive/prescriptive analytics.

By Application: Financial analytics held largest share in the healthcare analytics market in 2020

On the basis of application, healthcare analytics market is segmented into financial analytics, clinical analytics, operational & administrative analytics and population health analytics. Healthcare analytics segment held largest share in 2020. The largest share of this segment is mainly attributed to emphasis on cost-cutting and to increase profitability.

By Deployment model, on-premise solutions accounted for the largest market share in 2020

Healthcare analytics market is segmented into on-premise and on-demand models on the basis of deployment model. On-premise model accounted for largest market share in 2020. The large share of this segment can be ascribed by convenient customization available in this model.

By End User: Healthcare analytics market held largest market share in payers in end user segment

Based on the end user segregation, payers accounted for largest market share in 2020. Rising healthcare expenditure, increasing need for membership expansion, optimization of provider networks and increasing competition are key factors driving the growth of this market segment.

By Region: APAC is the fastest growing regional market

In 2020, North America accounted for the largest share of healthcare analytics market. The largest share of this regional segment is mainly due to rising EHR adoption, government initiatives, emphasis on curbing the healthcare cost and improving regulatory framework. On the other hand, APAC is expected to grow at a highest rate. Highest CAGR of this market is primarily due to growing adoption and rising investments in these countries.

Competitive Scenario:

Key players operating in this market are:

Allscripts (US)
Cerner (US)
Citius Tech (US)
Cotiviti (Verscend Technologies)
Health Catalyst (US)
IBM (US)
Innovalon (US)
McKesson (US)
MedeAnalytics (US)
Optum (US)
Oracle (US)
SAS Institute (US)
SCIO Health Analytics (US)
Viteros Health (US)
And Wipro (India)

Product Code: HLCA2117

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Market Dynamics
- 4.2.1. Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
4.3. COVID-19 Impact of the Healthcare Analytics Market

5. Industry Insights

5.1. Introduction
5.2. Industry Trends

6. Global Healthcare Analytics Market, By Type, 2019-2027 (USD Million)

6.1. Introduction
6.2. Descriptive Analytics
6.3. Predictive Analytics
6.4. Prescriptive Analytics
6.5. Cognitive Analytics

7. Global Healthcare Analytics Market, By Component, 2019-2027 (USD Million)

7.1. Service
7.2. Software
7.3. Hardware

8. Global Healthcare Analytics Market, By Application, 2019-2027 (USD Million)

8.1. Financial analysis
8.2. Operational & Administrative analysis
8.3. Clinical analysis
8.4. Population health analysis

9. Global Healthcare Analytics Market, By Delivery mode, 2019-2027 (USD Million)

9.1. On-premise
9.2. On-demand

10. Global Healthcare Analytics Market, By End user, 2019-2027 (USD Million)

10.1. Payers
10.2. Providers
10.3. Others (Health information exchanges (HIEs), accountable care organizations (ACOs), managed care organizations (MCOs), and third-party administrators (TPAs))

11. Global Healthcare Analytics Market, By Geography, 2019-2027 (USD Million)

11.1. North America
- 11.1.1. US
- 11.1.2. Canada
11.2. Europe
- 11.2.1. Germany
- 11.2.2. UK
- 11.2.3. France
- 11.2.4. Italy
- 11.2.5. Spain
- 11.2.6. Rest of Europe
11.3. Asia-Pacific
- 11.3.1. China
- 11.3.2. Japan
- 11.3.3. India
- 11.3.4. Rest of Asia-Pacific
11.4. Rest of the World
- 11.4.1. Latin America
- 11.4.2. Middle East & Africa

12. Competitive Landscape

12.1. Introduction
12.2. Market Share\Ranking Analysis, By key Players, 2020
12.3. Competitive Situation and Trends
- 12.3.1. Product Launches
- 12.3.2. Partnerships, Collaborations and Agreements
- 12.3.3. Acquisitions
- 12.3.4. Expansions
- 12.3.5. Other Developments

13. Company Profiles

13.1. Allscripts (US)
13.2. Cerner (US)
13.3. Citius Tech (US)
13.4. Cotiviti (Verscend Technologies)
13.5. Health Catalyst (US)
13.6. IBM (US)
13.7. Innovalon (US)
13.8. McKesson (US)
13.9. MedeAnalytics (US)
13.10. Optum (US)
13.11. Oracle (US)
13.12. SAS Institute (US)
13.13. SCIO Health Analytics (US)
13.14. Viteros Health (US)
13.15. Wipro (India)