The global healthcare provider analytics market was valued at US$ 7.19 billion in 2020 and is expected to reach US$ 23.94 billion by 2029, growing at a CAGR of 26.19% over the forecast period. Use of technology in the field of medical science and healthcare sector is not a new concept. These technologically advanced equipments have always proven helpful for the trillion dollar industry. With the rise of chronic diseases in young adults and recent COVID-19 pandemic, the healthcare infrastructure is under tremendous pressure. Today majority of the healthcare organizations are facing problems like difficulty to manage their database related to the patients. Healthcare analytics provides is ideal solution to most of the healthcare sector’s problems, especially the one regarding the higher volume of unsegregated data. Healthcare analytics helps in tracking hospital capacity, identification of high-risk patients, availability of ventilators and many other things.
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The Healthcare provider analytics market is being driven ahead by many factors. Several acts and norms introduced by leading countries across the globe is today contributing to the growth of this market. The Affordable Care Act (ACA) passed by the federal government of the United States has been promoting transparency in the healthcare and medical insurance market, and pressing more and more healthcare organizations to adopt healthcare analytics solutions.
On the other hand, healthcare infrastructure in developing economies is already weak and has budget constraints. As adoption of the healthcare analytics solution seems a costly affair, these countries are less inclined towards it. This is the reason behind lower sales numbers witnessed by the healthcare provider analytics market from emerging economies.
The high cost factor is likely to be eliminated automatically owing to the adoption of cloud-based deployment in healthcare analytics solutions. This type of solution is budget friendly and is easy in terms of installation. The Healthcare provider analytics market is expected to earn most of its revenue from the sale of cloud-based models in near future.
The detailed research study provides qualitative and quantitative analysis of healthcare provider analytics market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Healthcare provider analytics are proving helpful in the times of Covid-19 as it is capable of forecasting number of patients, hospital capacity, and ventilator availability
- The healthcare provider analytics market captures most of its profit from services category mainly because these solutions require timely upgrades which is a recurring process. The services segment is expected to witness the highest growth over the forecast period.
- Cloud-based solutions are highly scalable and cost-effective, this is why they are preferred by most of medical practitioners and healthcare facilities
- Due to presence of technologically equipped healthcare organizations and favorable federal mandates, the healthcare provider analytics market makes most of its revenue from the region of North America
- Some of the major players operating in the healthcare provider analytics market include IBM Corporation, Optum Inc., Verisk Analytics, Health Catalyst and Inovalon amongst others.
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Healthcare Provider Analytics Market
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- By Component
- Software
- Platform Solutions
- Desktop Solutions
- Cloud (Software as A Service)
- Services
- Implementation
- Migration
- Upgrade & Technical Support
- Business Process Analytics Services
- Software
- By Type
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- By Application
- Clinical Analytics
- Regulatory Reporting, Compliance and Transparency
- Quality Improvement
- Clinical Benchmarking
- Clinical Decision Support
- Population Health Management
- Comparative Effectiveness
- Public Health Surveillance
- Financial & Administrative Analytics
- Operational Analytics
- Supply Chain Analytics
- Workforce Analytics
- Strategic Analytics
- Clinical Analytics
- By End User
- Hospitals & Idns
- Physician/Medical Practices
- Ambulatory
- Acos & Mcos
- Others
- By Geography
- By Component
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- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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