Healthcare Predictive Analytics Market Research Report –Forecast till 2030

Healthcare Predictive Analytics Market Research Report, By Components (Services, Software, Hardware), Applications (Operations Management, Financial Analytics, Population Health, Clinical Analytics), End User (Payers, Providers)-Forecast Till 2030

ID: MRFR/HC/6080-HCR | November 2022 | Region: Global | 160 Pages         

Healthcare Predictive Analytics Market

Healthcare predictive analytics market is estimated to reach USD 65.5 billion at a healthy CAGR of over 29.50% by 2030.

Segmentation

By Components Services Software Hardware
Applications Operations Management Financial Analytics Population Health Clinical Analytics
End User Payers Providers

Key Players

  • IBM
  • Cerner Corporation
  • McKesson Corporation
  • SAS
  • Oracle
  • Allscripts
  • Inovalon
  • Health Catalyst
  • SCIO Health Analytics
  • Wipro Limited
  • VitreosHealth

Drivers

  • increasing popularity of personalized medicines
  • growing product launches
  • growing number of mergers & acquisitions
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Healthcare Predictive Analytics Market Overview:


As per the MRFR reports, the healthcare predictive analytics market is assessed to flourish a sound CAGR of more than 29.50% to reach USD 65.5 billion during the appraisal time frame from 2022 to 2030. Medical services prescient investigation alludes to the field of advanced examination, which utilizes expectations in regards to future occasions.


Verifiable information can conjecture potential results and accurately illuminate organizations about future patterns. The medical services prescient investigation market has enlisted colossal development over the most recent couple of years. The market's development is mostly credited to the rising costs of medicine offices.


Besides, factors, for example, the rising prominence of customized drugs, developing item dispatches, and developing number of consolidations and acquisitions are additionally projected to catalyze the market's development throughout the next few years.


Then again, the high execution and membership/authorizing charges of advanced investigation arrangements are the essential controlling perspective prone to block the market's development. Moreover, the absence of mindfulness among buyers across the agricultural countries is likewise prone to hamper the market's development before very long.

Healthcare Predictive Analytics Market Segmentation


The healthcare predictive analytics market is segmented on the basis of component, application, and end user.


By component the market is categorised into services, software, and hardware


Based on application, the healthcare predictive analytics market is segmented into operations management, financial, population health, and clinical. The operations management segment is further divided into demand forecasting, workforce planning and scheduling, inpatient scheduling, and outpatient scheduling. The financial segment is further divided into revenue cycle management, fraud detection, and others. The population health segment is further divided into population risk management, patient engagement, population therapy management, and others. The clinical is further divided into quality benchmarking, patient care enhancement, clinical outcome analysis and management. On the basis of end user, the market is segmented into payers, providers, and others.


On the basis of region, the healthcare predictive analytics global market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The healthcare predictive analytics market in the Middle East and Africa has been segmented into the Middle East and Africa.


Healthcare Predictive Analytics Regional Market Summary
Healthcare predictive analytics Global Market Share (%), by Region, 2017


Healthcare predictive analytics Market


Sources: Centers for Disease Control and Prevention (CDC), US Department of Health and Human Services, National Institutes of Health


It is projected that the Americas dominated the global healthcare predictive analytics market owing to the growth of the market in the North American region. This is largely attributed to the factors such as streamlined health-care systems, updated regulatory policies, and availability of trained workforce in this region helped it attain a lucrative market share.


Europe is expected to hold the second largest share in the market owing to growing healthcare infrastructure. Also, in October 2017, Allscripts had acquired McKesson’s Enterprise Information Solutions business that had contributed to the exponential growth of the healthcare predictive analytics market.


Asia-Pacific was projected to be the fastest growing region for the global healthcare predictive analytics market. This owes to the technological advancements resulting in the development of cost-effective healthcare predictive analytics leading to high acceptance rate for the devices in the Asia-Pacific region. The Middle East and Africa holds the least share in the global healthcare predictive analytics market due to the presence of economically diverse countries, and less initiatives taken by the government.


Recent Developments


March 2022 – A company known for its Precision Nudging™ solution, which promotes health through AI-powered behavior change, Lirio, has announced entering into a broad-ranging strategic alliance with NTT DATA, a prominent leader in business and IT services. Together, both the firms will allow healthcare providers to empower patients via tailored digital experiences.


The chief of innovation, strategy, and provider industry solutions for NTT DATA Services, Lisa Esch, said that healthcare consumers are demanding more improved, personalized care that the firm has the technology to do. Still, first needs focus on the digital patient experience.


March 2022 – An innovator in developing disease-modifying therapeutic interventions for neurodegenerative diseases, Cognito Therapeutics, and a prominent real-world evidence (RWE) technology and analytics provider, Aetion, has announced a deliberate partnership to develop a certified predictive model to recognize patients with swiftly progressing Alzheimer's disease and mild cognitive impairment (MCI).


Healthcare Predictive Analytics Market, by Component



  • Services

  • Software

  • Hardware


Healthcare Predictive Analytics Market, by Application



  • Operations Management


    • Demand Forecasting

    • Workforce Planning and Scheduling

    • Inpatient Scheduling

    • Outpatient Scheduling


  • Financial


    • Revenue Cycle Management

    • Fraud Detection

    • Other Financial Applications


  • Population Health


    • Population Risk Management

    • Patient Engagement

    • Population Therapy Management

    • Other Applications


  • Clinical


    • Quality Benchmarking

    • Patient Care Enhancement

    • Clinical Outcome Analysis and Management



Healthcare Predictive Analytics Market, by End User



  • Payers

  • Providers

  • Others


Healthcare Predictive Analytics Market, by Region



  • Americas


    • North America


      • US

      • Canada


    • Latin America


  • Europe


    • Western Europe


      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe


    • Eastern Europe


  • Asia-Pacific


    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific


  • The Middle East & Africa


    • Middle East

    • Africa



Healthcare Predictive Analytics Market, Key Players



  • IBM

  • Cerner Corporation

  • Verisk Analytics, Inc.

  • McKesson Corporation

  • SAS

  • Oracle

  • Allscripts

  • Optum, Inc.

  • MedeAnalytics, Inc.

  • Inovalon

  • Health Catalyst

  • SCIO Health Analytics

  • Verscend Technologies, Inc

  • CitiusTech, Inc.

  • Wipro Limited

  • VitreosHealth


Recent Development


March 2022 -


An organization known for its Precision Nudging arrangement, which advances wellbeing through AI-controlled conduct change, Lirio, has declared going into a wide running key union with NTT DATA, an unmistakable innovator in business and IT administrations. Together, both the organizations will permit medical services suppliers to engage patients by means of custom-made advanced encounters.


The head of advancement, procedure, and supplier industry answers for NTT DATA Services, Lisa Esch, said that medical care purchasers are requesting more improved, customized care that the firm has the innovation to do. In any case, first requirements center around the computerized patient experience.


March 2022 -


A trend-setter in creating illness altering remedial mediations for neurodegenerative infections, Cognito Therapeutics, and an unmistakable genuine proof (RWE) innovation and investigation supplier, Aetion, has reported an intentional organization to foster a confirmed prescient model to perceive patients with quickly advancing Alzheimer's sickness and gentle mental hindrance (MCI).

Intended Audience



  • Medical device companies

  • Analytical companies

  • Government institutions

  • Research and Development (R&D) companies

  • Medical research laboratories



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 65.5 billion
  CAGR   29.50%: 2022-2030
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Application And End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   IBM, Cerner Corporation, Verisk Analytics, Inc., McKesson Corporation, SAS, Oracle, Allscripts, Optum, Inc., MedeAnalytics, Inc., Inovalon, Health Catalyst, SCIO Health Analytics, Verscend Technologies, Inc, CitiusTech, Inc., Wipro Limited, VitreosHealth
  Key Market Opportunities   Major companies in the market are involved in new product launches
  Key Market Drivers   The rising use of EHR systems in the healthcare sector is the major driver for the market


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Frequently Asked Questions (FAQ) :

The uses of Healthcare Predictive Analytics Market are Operations Management, Financial Analytics, Population Health, Clinical Analytics.

Leading players in the healthcare predictive analytics market include Cerner, IBM, Oracle, SAS, Inovalon, and Optum Inc., among others.

The risk of data breaches is the key restraint on the market.

The Americas is expected to dominate the global healthcare predictive analytics market.

The rising use of EHR systems in the healthcare sector is the major driver for the market.

The global healthcare predictive analytics market is expected to exhibit a robust 29.50% CAGR over the forecast period from 2020 to 2030.