Healthcare Analytics Market Research Report - Forecast till 2027

Healthcare Analytics Market Research Report: By Type (Predictive, Cognitive), Component (Software, Services), Delivery Model (On-Premise), Application (Financial Analytics, Clinical Analytics), End User (Payers, Hospitals)- Forecast till 2027

ID: MRFR/HC/6349-HCR | February 2021 | Region: Global | 100 pages

Healthcare Analytics Market Overview


Healthcare Analytics Market is expected to develop altogether over the estimated time period. It is expected that the Healthcare Analytics Market size is projected to grow at a CAGR of 23% over the forecast period 2020-2027 and market to reach USD 51.5 Billion by 2027.


The worldwide Healthcare Analytics Market is developing at a quick speed. The main considerations that are impacting the development of the market include expanding entrance of data innovation in the field of medical care, better therapy plans in a joint effort with drug associations, expanding the accessibility of minimal expense innovation, and expanding utilization of EHR and clinical choice emotionally supportive network CDSS. This market driver plays a quite effective role in the Healthcare Analytics Market Growth. 


You must know that Healthcare Analytics Industry covers every one of the portions of the medical care industry, giving experiences on both the large scale and minimum level. The worldwide healthcare services investigation market development is required to grow at a quick speed because of variables like high reception of mechanical headways in the field of medical services, expanding interest for decreasing administrative work, better therapy plans as a team with drug associations, expanding the accessibility of minimal expense innovation, to further develop patient consideration endeavors, better administrations, and work on existing techniques. The Healthcare Analytics Market Share is enhancing its importance and growth for the future estimated period.


Order to improve treatment plans in relationship with drug associations is one of the central points for examination that is driven by a transformation in medical care. With more admittance to wide and inside and out data, healthcare associations can think of better details for infections. With the assistance of more information and investigation, drug associations will actually want to guarantee their details. This will ultimately move the pattern from volume limits to confirm-based result models. Be that as it may, these benefits of medical care examination driving the development of the Healthcare Analytics Industry. But there are some restrictions that are hampering the development of the market. The Restrictions in the Healthcare Analytics Market include the significant expense of logical arrangements, information security, and innovation tested by the client. 


COVID 19 Analyses


The outbreak of COVID-19 across the globe has made the Healthcare market rethink the option in order to carry out medical services investigations. Incorporating the improvements in innovation and expanding the execution of proactive and prescriptive examination in many clinics is effectively driving the Healthcare Analytics Industry growth to a great extent. The COVID-19 pandemic has powered the appropriation of these arrangements, which ultimately is helping the associations in exploring the healthcare market through cutting-edge investigation arrangements and backing ideal results. 


The analytical abilities are considered among the large changes that are implemented and executed by the business in order to effectively deal with the ongoing pandemic situation. For example, in June 2020, Verily and CVS Health dispatched an application considered Healthy at Work that fuses neighborhood, on location, and mail testing administrations into an incorporated advanced examination dashboard. The application records everyday indications of illness openness to COVID-19 as shared by a worker on the application. 


Market Dynamics



  • Major Drivers of The Market


Elements like an expanding focus on collecting and investigating information from various medical care hotspots for further developed client assistance, innovative headways, and rising selection of EHRs are relied upon to drive the development of the Healthcare Analytics Industry to a great extent. In the course of recent years, the volume of information produced by medical services associations has expanded hugely by virtue of the developing selection of computerized innovation, Big Data, and other cutting-edge innovations. Utilization of distinct investigation strategies works with a better examination of organized and unstructured information and produces significant bits of knowledge to settle on worked-on clinical choices. This major driver has a greater impact on the growth and development of the Healthcare Analytics Market for the forecasted period. 



  • Significant Opportunities For The Market


You must know that the expansion in demand for medical solutions for population health management is creating an effective opportunity for the Healthcare Analytics Market.  This opportunity helps in enhancing the demand for the business knowledge to improve wellbeing organization and procedures are relied upon to drive the market development. Also, developing tendency toward cloud-based examination arrangements in the market is relied upon to give rewarding freedoms to the market extension in the forecasted period. 



  • Market Restraints


The accessibility of an assortment of pay-for announcing, pay-for-execution, and hazard and income imparting projects to suppliers is prompting an expansion in speculations by payer associations for applications that help to adjust cost and quality through worked-on comprehension of medical care needs by their individuals. The major Healthcare Analytics Market restraints include high execution costs related to medical care investigation. These restraints are expected to control the development of the market. Hence proper initiative should be taken in order to avoid such restrictions. 



  • Market Growth Challenges


There are many elements in the healthcare market that are helping in Healthcare Analytics Market growth like expanding government drives to build EHR reception, developing strain to check medical services costs, accessibility of large information in medical services, expanding funding ventures, rising spotlight on working on tolerant results, and innovative progressions. All these growth opportunities are the central point in the healthcare industries that are driving the development of this Healthcare Analytics Industry Value. 


Segment Overview



  • By Type


In view of type, the Healthcare Analytics Market share is divided into unmistakable, prescient, prescriptive, and psychological examinations. A detailed examination is required to represent the biggest portion of the market in 2020, while the Prescriptive Analytics section is projected to develop at the most elevated CAGR during the estimated time frame (2024). A clear investigation is relied upon to overwhelm the market during the figure time frame since it shapes the base for the compelling use of prescient or prescriptive examination. 



  • By Application


The market has been sectioned into the monetary investigation, clinical examination, functional and authoritative examination, and populace well-being investigation based on application. The Financial Analytics fragment is assessed to overwhelm the market in 2020 because of a rising focal point of payers on the early location of misrepresentation and diminishing preventable expenses. The market for monetary investigation is relied upon to enlist huge development during the estimated time frame. 



  • By deployment model 


In view of the deployment model, Healthcare Analytics Industry is segmented into on-premise and on-request models. In 2020, the on-premise model's portion was required to represent the biggest portion of the worldwide market. This can be credited to the effectively adjustable nature of on-premise arrangements when contrasted with on-request models. 



  • By End Client


Based on the end client, Healthcare Analytics Market is mainly divided into different parts like payers, suppliers, and MCOs, ACOs, HIEs, and TPAs. In 2020, the payers' section was relied upon to represent the biggest portion of the worldwide market. Factors such as rising medical care costs, improving supplier organizations, developing the need to expand enrolments, checking deceitful cases and functional expenses, and expanding rivalry, are convincing medical care payers to embrace investigation arrangements. 


Regional Analysis


The Healthcare Analytics Industry is overwhelmed by North America, Europe, Asia, and the Middle East & Africa. The market in North America is relied upon to observe the highest development during the estimated time frame. The high development of the North American market is described as developing administrative medical services orders to control rising medical services costs, expanding administrative prerequisites, developing EHR selection, and rising government drive zeroing in on customized medication, populace wellbeing the board, and worth based repayments. 


Competitive Landscape


The major Healthcare Analytics Market Players are mentioned below: 



  • MCKESSON

  • CERNER CORPORATION

  • GE HEALTHCARE

  • COGNIZANT

  • EPIC SYSTEM CORPORATION

  • DELL

  • PHILIPS

  • OPTUM

  • SIEMENS

  • XEROX


Recent Developments



  • In August 2018, Verscend Technology (US) gained Cotiviti Holdings, Inc. (the US), the main supplier of installment precision and investigation-driven arrangements, zeroed in essentially on the medical care industry. 

  • In July 2018, Health Catalyst (US) gained Medicity, a PHM organization offering answers for HIEs, business insight, and supplier and patient commitment. 


Report Overview


The Healthcare Analytics Market Analysis or overview is as follows:



  • Healthcare Analytics Market Outlook

  • COVID 19 Analysis

  • Healthcare Analytics Market Dynamics

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Healthcare Analytics Market Trends Developments


This report has a clear focus upon highlighting the growth aspects of the global Healthcare Analytics Market Forecast. Along with that, this report also intends to put up the competitive landscape and recent developments on the table to explain this global Healthcare Analytics Market position.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 51.5 Billion
  CAGR   23% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Component, Delivery Model, Application, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Cerner, Allscripts Healthcare Solutions, SAS Institute Inc., IBM, Wipro, Inovalon, Cotiviti, Citiustech, Health Catalyst, Mckesson, Optum, Oracle, SCIO Health Analytics, Vitreoshealth, Medeanalytics, Others.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • High adoption of technological advancements in the field of healthcare
  • Increasing demand for reducing paperwork
  • Better treatment plans in collaboration with pharmaceutical organizations
  • Increasing availability of low cost technology
  • To improve patient care efforts, better services,
  • Improve existing procedures


  • Frequently Asked Questions (FAQ) :


    Healthcare analytics is one of the major segment of analysis that primarily focuses on providing insights into hospital management, costs, patient records, diagnoses, and various other data. The field covers all the segments of the healthcare industry, providing insights on both the macro and micro level.

    For improve, treatment plans in association with pharmaceutical organizations are one of the major factors for analytics-driven revolution in healthcare. With more access to wide and in-depth information, pharmaceutical organizations can come up with better formulations for diseases. With the help of more data and analytics, pharmaceutical organizations will be able to assure their formulations positively.

    The healthcare analytics market is projected to grow at a 23% CAGR between 2020-2027.

    The Americas is expected to lead the healthcare analytics market.

    Availability of low-cost technology and better treatment plans are boosting market growth.

    High cost and data security issues may deter market growth.

    Key competitors in the healthcare analytics market include Medeanalytics, Vitreoshealth, SCIO Health Analytics, Oracle, Optum, Mckesson, Health Catalyst, Citiustech, Cotiviti, Inovalon, Wipro, IBM, SAS Institute Inc., Allscripts Healthcare Solutions, and Cerner.

    Table of Contents:

    Chapter 1. Report Prologue

    Chapter 2. Market Introduction

    2.1 Definition

    2.2 Scope of the Study

    2.2.1 Research Objective

    2.2.2 Assumptions

    2.2.3 Limitations

    Chapter 3. Research Typology

    3.1 Introduction

    3.2 Primary Research

    3.3 Secondary Research

    3.4 Market Size Estimation

    Chapter 4. Market Dynamics

    4.1 Drivers

    4.2 Restraints

    4.3 Opportunities

    4.4 Challenges

    4.5 Macroeconomic Indicators

    4.6 Technology Trends & Assessment

    Chapter 5. Market Factor Analysis

    5.1 Porter’s Five Forces Analysis

    5.1.1 Bargaining Power of Suppliers

    5.1.2 Bargaining Power of Buyers

    5.1.3 Threat of New Entrants

    5.1.4 Threat of Substitutes

    5.1.5 Intensity of Rivalry

    5.2 Value Chain Analysis

    5.3 Investment Feasibility Analysis

    Chapter 6. Global Healthcare Analytics Market, by Type

    6.1 Introduction

    6.2 Descriptive Analytics

    6.3 Predictive Analytics

    6.4 Prescriptive Analytics

    6.5 Cognitive Analytics

    Chapter 7. Global Healthcare Analytics Market, by Component

    7.1 Introduction

    7.2 Software

    7.3 Hardware

    7.4 Services

    Chapter 8. Global Healthcare Analytics Market, by Component

    8.1 Introduction

    8.2 On-Premise

    8.3 On-Demand

    Chapter 9. Global Healthcare Analytics Market, by Application

    9.1 Introduction

    9.2 Financial Analytics

    9.2.1 Claims Processing

    9.2.2 Revenue Cycle Management (RCM)

    9.2.3 Payment Integrity & Fraud, Waste, and Abuse (FWA)

    9.2.4 Risk Adjustment & Assessment

    9.3 Clinical Analytics

    9.3.1 Quality Improvement & Clinical Benchmarking

    9.3.2 Clinical Decision Support (CDS)

    9.4 Operational & Administrative Analytics

    9.5 Population Health Analytics

    Chapter 10. Global Healthcare Analytics Market, by End User

    10.1 Introduction

    10.2 Payers

    10.2.1 Private Insurance Companies

    10.2.2 Government Agencies

    10.2.3 Employers and Private Exchanges

    10.3 Providers

    10.3.1 Hospitals & Clinics

    10.3.2 Post-Acute Care Organizations

    10.3.3 Ambulatory Settings

    10.4 Others

    Chapter 11. Global Healthcare Analytics Market, by Region

    11.1 Introduction

    11.2 Americas

    11.2.1 North America

    11.2.1.1 US

    11.2.1.2 Canada

    11.2.2 Latin America

    11.3 Europe

    11.3.1 Western Europe

    11.3.1.1 Germany

    11.3.1.2 France

    11.3.1.3 Italy

    11.3.1.4 Spain

    11.3.1.5 UK

    11.3.1.6 Rest of Western Europe

    11.3.2 Eastern Europe

    11.4 Asia-Pacific

    11.4.1 Japan

    11.4.2 China

    11.4.3 India

    11.4.4 Australia

    11.4.5 South Korea

    11.4.6 Rest of Asia-Pacific

    11.5 Middle East & Africa

    11.5.1 Middle East

    11.5.2 Africa

    Chapter 12. Company Landscape

    12.1 Introduction

    12.2 Market Share Analysis

    12.3 Key Development & Strategies

    Chapter 13. Company Profiles

    13.1 Cerner.

    13.1.1 Company Overview

    13.1.2 Product Overview

    13.1.3 Financials Overview

    13.1.4 Key Developments

    13.1.5 SWOT Analysis

    13.2 Allscripts Healthcare Solutions

    13.2.1 Company Overview

    13.2.2 Product Overview

    13.2.3 Financial Overview

    13.2.4 Key Developments

    13.2.5 SWOT Analysis

    13.3 SAS Institute Inc.

    13.3.1 Company Overview

    13.3.2 Product Overview

    13.3.3 Financial Overview

    13.3.4 Key Development

    13.3.5 SWOT Analysis

    13.4 IBM

    13.4.1 Company Overview

    13.4.2 Product Overview

    13.4.3 Financial Overview

    13.4.4 Key Development

    13.4.5 SWOT Analysis

    13.5 Inovalon

    13.5.1 Company Overview

    13.5.2 Product Overview

    13.5.3 Financial Overview

    13.5.4 Key Development

    13.5.5 SWOT Analysis

    13.6 Cotiviti

    13.6.1 Company Overview

    13.6.2 Product Overview

    13.6.3 Financial Overview

    13.6.4 Key Development

    13.6.5 SWOT Analysis

    13.7 Wipro

    13.7.1 Company Overview

    13.7.2 Product Overview

    13.7.3 Financial Overview

    13.7.4 Key Development

    13.7.5 SWOT Analysis

    13.8 Citiustech

    13.8.1 Company Overview

    13.8.2 Product Overview

    13.8.3 Financial Overview

    13.8.4 Key Development

    13.8.5 SWOT Analysis

    13.9 Health Catalyst

    13.9.1 Company Overview

    13.9.2 Product Overview

    13.9.3 Financial Overview

    13.9.4 Key Development

    13.9.5 SWOT Analysis

    13.10 McKesson

    13.10.1 Company Overview

    13.10.2 Product Overview

    13.10.3 Financial Overview

    13.10.4 Key Development

    13.10.5 SWOT Analysis

    13.11 Optum

    13.11.1 Company Overview

    13.11.2 Product Overview

    13.11.3 Financial Overview

    13.11.4 Key Development

    13.11.5 SWOT Analysis

    13.12 Oracle

    13.12.1 Company Overview

    13.12.2 Product Overview

    13.12.3 Financial Overview

    13.12.4 Key Development

    13.12.5 SWOT Analysis

    13.13 SCIO Health Analytics

    13.13.1 Company Overview

    13.13.2 Product Overview

    13.13.3 Financial Overview

    13.13.4 Key Development

    13.13.5 SWOT Analysis

    13.14 Vitreoshealth

    13.14.1 Company Overview

    13.14.2 Product Overview

    13.14.3 Financial Overview

    13.14.4 Key Development

    13.14.5 SWOT Analysis

    13.15 Medeanalytics

    13.15.1 Company Overview

    13.15.2 Product Overview

    13.15.3 Financial Overview

    13.15.4 Key Development

    13.15.5 SWOT Analysis

    13.16 Others.

    Chapter 14. Appendix


    LIST OF TABLES

    Table 1 Global Healthcare Analytics Market Synopsis, 2020–2027

    Table 2 Global Healthcare Analytics Market Estimates and Forecast, 2020–2027 (USD Million)

    Table 3 Global Healthcare Analytics Market, by Region, 2020–2027 (USD Million)

    Table 4 Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 5 Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 6 Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 7 Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 8 Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 9 North America: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 10 North America: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 11 North America: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 12 North America: Global Healthcare Analytics Market, by Application, 2020–2027 (US Million)

    Table 13 North America: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 14 US: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 15 US: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 16 US: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 17 US: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 18 US: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 19 Canada: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 20 Canada: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 21 Canada: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 22 Canada: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 23 Canada: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 24 Latin America: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 25 Latin America: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 26 Latin America: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 27 Latin America: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 28 Latin America: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 29 Europe: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 30 Europe: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 31 Europe: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 32 Europe: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 33 Europe: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 34 Western Europe: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 35 Western Europe: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 36 Western Europe: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 37 Western Europe: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 38 Western Europe: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 39 Eastern Europe: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 40 Eastern Europe: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 41 Eastern Europe: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 42 Eastern Europe: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 43 Eastern Europe: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 44 Asia-Pacific: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 45 Asia-Pacific: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 46 Asia-Pacific: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 47 Asia-Pacific: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 48 Asia-Pacific: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)

    Table 49 Middle East & Africa: Global Healthcare Analytics Market, by Type, 2020–2027 (USD Million)

    Table 50 Middle East & Africa: Global Healthcare Analytics Market, by Component, 2020–2027 (USD Million)

    Table 51 Middle East & Africa: Global Healthcare Analytics Market, by Delivery Model, 2020–2027 (USD Million)

    Table 52 Middle East & Africa: Global Healthcare Analytics Market, by Application, 2020–2027 (USD Million)

    Table 53 Middle East & Africa: Global Healthcare Analytics Market, by End User, 2020–2027 (USD Million)  

    LIST OF FIGURES

    Figure 1 Research Process

    Figure 2 Segmentation for Global Healthcare Analytics Market

    Figure 3 Segmentation Market Dynamics for Global Healthcare Analytics Market

    Figure 4 Global Healthcare Analytics Market Share, by Type, 2020

    Figure 5 Global Healthcare Analytics Market Share, by Component, 2020

    Figure 6 Global Healthcare Analytics Market Share, by Delivery Model, 2020

    Figure 7 Global Healthcare Analytics Market Share, by Application, 2020

    Figure 8 Global Healthcare Analytics Market Share, by End User, 2020

    Figure 9 Global Healthcare Analytics Market Share, by Region, 2020

    Figure 10 North America: Global Healthcare Analytics Market Share, by Country, 2020

    Figure 11 Europe: Global Healthcare Analytics Market Share, by Country, 2020

    Figure 12 Asia-Pacific: Global Healthcare Analytics Market Share, by Country, 2020

    Figure 13 Middle East & Africa: Global Healthcare Analytics Market Share, by Country, 2020

    Figure 14 Global Healthcare Analytics Market: Company Share Analysis, 2020 (%)

    Figure 15 Cerner: Key Financials

    Figure 16 Cerner: Segmental Revenue

    Figure 17 Cerner: Geographical Revenue

    Figure 18 Allscripts Healthcare Solutions

    Figure 19 SAS Institute Inc.

    Figure 20 IBM

    Figure 21 Wipro

    Figure 22 Inovalon

    Figure 23 Cotiviti (Verscend Technologies)

    Figure 24 Citiustech

    Figure 25 Health Catalyst

    Figure 26 McKesson

    Figure 27 Optum

    Figure 28 Oracle

    Figure 29 SCIO Health Analytics

    Figure 30 Vitreoshealth

    Figure 31 Medeanalytics



    This table of content is tentative and subject to change as the research progresses.

    Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.