It was also used to obtain important information about key market players, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. MarketsandMarkets offers the following customizations for this market report: Can you enlighten us about the key players operating in the global Healthcare Analytics Market? According to the American Journal of Managed Care, value-based medicine is the practice of medicine based on the objective value (improvement in length of life and/quality of life) conferred by healthcare interventions as determined by utilizing a set of standardized parameters (commonly used to evaluate value and cost-effectiveness). The bottom-up approach was employed to estimate the overall market size. North America dominated the healthcare analytics market, with a share of 61.0% in 2020, followed by Europe and the Asia Pacific. Phone: +1-302-846-7766
The electronic exchange of patient data offers greater reach and efficiency in healthcare delivery but involves greater data risk and liability due to broader access and can result in data breaches. What is the market size of the healthcare analytics market? This research study involved the usage of widespread secondary sources; directories; databases such as Bloomberg Business, Factiva, and Wall Street Journal; white papers; and annual reports, company house documents, investor presentations, and SEC filings of companies. In what way COVID19 is Impacting the global growth of the Healthcare Analytics Market? Growth in this market is primarily driven by the increasing adoption of EHRgrwoing capital investments in the market, emergence of big data in healthcare, combined with the pressure to curb healthcare spending.
Future healthcare trends are more quality-oriented, focusing on the quality of services provided as well as on generating novel approaches to value-based medicine and care management. The increase in the adoption of EHR in developing and developed countries during the pandemic has further influenced the growth of the market in 2020. - 80) 7.1 INTRODUCTION TABLE 7 HEALTHCARE ANALYTICS MARKET, BY COMPONENT, 20192026 (USD MILLION) 7.2 SERVICES TABLE 8 HEALTHCARE ANALYTICS SERVICES MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 9 HEALTHCARE ANALYTICS SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.2.1 SUPPORT SERVICES 7.2.1.1 Support services include implementation, ongoing IT support, system integration, training, and maintenance services TABLE 10 HEALTHCARE ANALYTICS SUPPORT SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.2.2 BUSINESS ANALYTICS SERVICES 7.2.2.1 Business analytics services help healthcare organizations to optimize the use of analytics and drive performance improvement TABLE 11 HEALTHCARE BUSINESS ANALYTICS SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.3 SOFTWARE 7.3.1 HEALTHCARE ANALYTICS SOFTWARE WORKS AS AN INTERFACE BETWEEN THE DATABASE AND END USERS TABLE 12 HEALTHCARE ANALYTICS SOFTWARE MARKET, BY REGION, 20192026 (USD MILLION) 7.4 HARDWARE 7.4.1 INCREASING ADOPTION OF CLOUD SERVERS IS EXPECTED TO HINDER THE GROWTH OF THE HARDWARE MARKET FOR ANALYTICS TABLE 13 HEALTHCARE ANALYTICS HARDWARE MARKET, BY REGION, 20192026 (USD MILLION), 8 HEALTHCARE ANALYTICS MARKET, BY DEPLOYMENT MODEL (Page No.
North America accounted for more than 65% of the global healthcare analytics market in 2021 due to the increasing prevalence of chronic diseases along with a growing geriatric population. In March 2021, McKesson Corporation launched ScriptPAS, a pharmacy management platform for oncology practices. Both top-down and bottom-up approaches were used to estimate and validate the total size of the healthcare analytics market. Advanced on-premise healthcare analytics solutions can cost over USD 200,000 for implementation and about the same for annual subscription/licensing fees.
- 274) 14.1 DISCUSSION GUIDE 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 14.3 AVAILABLE CUSTOMIZATIONS 14.4 RELATED REPORTS 14.5 AUTHOR DETAILS. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. This is a multi-faceted partnership with private healthcare companies to incorporate Enlitics solutions in GCC countries. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments. On the other hand, primary sources from the demand side include industry experts such as directors of hospitals, hospital purchase managers, insurance payers, physicians, and related key opinion leaders. Your personal details will remain secure and confidential. The growing use of automated technologies (such as EHRs and medical claims processing), as well as the shifting trend toward health information exchanges (HIEs), have altered the healthcare privacy and security landscape. Global healthcare analytics industry revenue from the descriptive analytics segment crossed USD 6.5 million in 2021 because this type of analytics helps organizations base their business strategies by offering a holistic view of the stored data. This is one of the major factors hampering the healthcare analytics market demand. Since the US is a major contributor to the healthcare analytics market, the implementation of these initiatives is considered a positive indicator of the growth of the overall market. Hospitals segment dominated the market accounting for nearly USD 8.8 billion in 2021. Only top-tier hospitals have the capability and funding to utilize big data in order to provide actionable insights effectively. Based on end-use, the healthcare analytics market is divided into hospitals, clinics, and others. Furthermore, stringent data integrity and compliance regulations affects technology advancements adoption rate in healthcare industry. Moreover, most of the leading players in the market have their headquarters in North America. - 54) FIGURE 13 HEALTHCARE ANALYTICS MARKET, BY TYPE, 2021 VS. 2026 (USD MILLION) FIGURE 14 MARKET, BY APPLICATION, 2021 VS. 2026 (USD MILLION) FIGURE 15 MARKET, BY COMPONENT, 2021 VS. 2026 (USD MILLION) FIGURE 16 MARKET, BY DEPLOYMENT MODEL, 2021 VS. 2026 (USD MILLION) FIGURE 17 HEALTHCARE ANALYTICS MARKET, BY END USER, 2021 VS. 2026 (USD MILLION) FIGURE 18 GEOGRAPHICAL SNAPSHOT OF THE HEALTHCARE ANALYTICS MARKET, 4 PREMIUM INSIGHTS (Page No. The outbreak of COVID-19 virus has had a predominanat effect on the economics and business of major countries of the world. Some of the recent industry developments: The healthcare analytics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments: The above information is provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. Moreover, with increasing number of insurance claims, the demand for optimum financial management is also observed to increase in order to detect fraudulent claims. The research methodology used to estimate the market size includes the following: After arriving at the market size, the total market was divided into several segments and subsegments. 7500+ companies worldwide approach us every year for their revenue growth inititatives. The predictive and prescriptive analytics has been used to develop prediction models to estimate the emergence of subsequent waves of COVID-19 infection spread in different regions of the world. As a consequence of the outbreak, there has been an rise in the significance of big data in healthcare sector. In September 2020, Inovalon launched the Inovalon DataStream API for analytical derivations of patient-specific data. - 112) 10.1 INTRODUCTION TABLE 54 MARKET, BY END USER, 20192026 (USD MILLION) 10.2 PAYERS TABLE 55 MARKET FOR PAYERS, BY TYPE, 20192026 (USD MILLION) TABLE 56 MARKET FOR PAYERS, BY REGION, 20192026 (USD MILLION) 10.2.1 PRIVATE INSURANCE COMPANIES 10.2.1.1 Private insurance companies accounted for the largest share of the payers market in 2020 TABLE 57 HEALTHCARE ANALYTICS MARKET FOR PRIVATE INSURANCE COMPANIES, BY REGION, 20192026 (USD MILLION) 10.2.2 GOVERNMENT AGENCIES 10.2.2.1 Increasing use of analytics solutions by government agencies to boost the market growth of this end-user segment TABLE 58 HEALTHCARE ANALYTICS MARKET FOR GOVERNMENT AGENCIES, BY REGION, 20192026 (USD MILLION) 10.2.3 EMPLOYERS AND PRIVATE EXCHANGES 10.2.3.1 Private exchanges and employers use data analytics for rapid data integration, health plan analysis, and risk modeling TABLE 59 HEALTHCARE ANALYTICS MARKET FOR EMPLOYERS AND PRIVATE EXCHANGES, BY REGION, 20192026 (USD MILLION) 10.3 PROVIDERS TABLE 60 MARKET FOR PROVIDERS, BY TYPE, 20192026 (USD MILLION) 10.3.1 HOSPITALS, PHYSICIAN PRACTICES, AND IDNS 10.3.1.1 The adoption of healthcare analytics solutions is the highest in large hospitals TABLE 61 MARKET FOR HOSPITALS, PHYSICIAN PRACTICES, AND IDNS, BY REGION, 20192026 (USD MILLION) 10.3.2 POST-ACUTE CARE ORGANIZATIONS (PACOS) 10.3.2.1 PACOs focus on reviewing and studying patient data with the help of healthcare analytics TABLE 62 MARKET FOR PACOS, BY REGION, 20192026 (USD MILLION) 10.3.3 AMBULATORY SETTINGS 10.3.3.1 The need to control healthcare costs to support the market growth of ambulatory settings TABLE 63 MARKET FOR AMBULATORY SETTINGS, BY REGION, 20192026 (USD MILLION) 10.4 ACOS, HIES, MCOS, AND TPAS TABLE 64 MARKET FOR ACOS, HIES, MCOS, AND TPAS, BY REGION, 20192026 (USD MILLION), 11 HEALTHCARE ANALYTICS MARKET, BY REGION (Page No. Based on application, the market is segmented into operations management, population health management, financial management, and clinical management. [282 Pages Report] The healthcare analytics market is projected to reach USD 75.1 billion by 2026, at a CAGR of 28.9% during the forecasted period. In addition, technological advancements in data analytics along with a high density of prominent players operating in the regional market are few other factors that favour the North American industry demand. In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. needs. - 40) 2.1 RESEARCH APPROACH 2.2 RESEARCH METHODOLOGY DESIGN 2.2.1 SECONDARY RESEARCH 2.2.1.1 Key data from secondary sources 2.2.2 PRIMARY DATA FIGURE 2 PRIMARY SOURCES 2.2.2.1 Insights from primary experts FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 2.3 MARKET SIZE ESTIMATION: HEALTHCARE ANALYTICS MARKET FIGURE 5 SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS FIGURE 6 REVENUE SHARE ANALYSIS ILLUSTRATION FIGURE 7 REVENUE ANALYSIS OF THE TOP THREE PUBLIC COMPANIES: HEALTHCARE ANALYTICS MARKET (2020) FIGURE 8 BOTTOM-UP APPROACH: END-USER ADOPTION/CONSUMPTION OF HEALTHCARE ANALYTICS (US) FIGURE 9 CAGR PROJECTIONS FROM THE ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF THE HEALTHCARE ANALYTICS MARKET (20212026) FIGURE 11 TOP-DOWN APPROACH 2.4 MARKET BREAKDOWN & DATA TRIANGULATION 2.5 MARKET SHARE ESTIMATION 2.6 ASSUMPTIONS FOR THE STUDY 2.7 LIMITATIONS 2.7.1 METHODOLOGY-RELATED LIMITATIONS 2.7.2 SCOPE-RELATED LIMITATIONS 2.8 RISK ASSESSMENT TABLE 1 RISK ASSESSMENT: HEALTHCARE ANALYTICS MARKET, 3 EXECUTIVE SUMMARY (Page No. The company have also adopted inorganic and organic strategies to sieze the immense growth opportunity the COVID-19 has provided to the market.
To know about the assumptions considered for the study, Request for Free Sample Report. It offers enhanced medication selection and targeted therapy, increased patient compliance, improves cost effectiveness, helps in developing novel therapeutic strategies, promotes consistency in treatment & optimal outcomes, etc. Big data also plays an important role in COVID-19 for analysing and validate data, as it helped in controlling the spread of COVID-19 by helping key decision makers with providing mathematical modelling and data visualization. It also enables transparency in all processes to examine every purchase from the standpoint of value, utility, and outcomes. Access to only 1 person; cannot be shared; cannot be printed, Access for 2 to 5 users only within same department of one company, Access to a company wide audience; includes subsidiary companies or other companies within a group of companies, We use cookies to enhance user experience, Emergence of personalized and evidence-based medicine, Rising investments in venture capital funds, Lack of skilled IT professionals in healthcare. Global Market Insights Inc.
However, the emergence of COVID-19 pandemic has positively impacted the healthcare analytics market growth. What is the impact of COVID-19 on the healthcare analytics market? Value-based medicine is redefining healthcare and capturing results-oriented data and making it usable. - 91) 9.1 INTRODUCTION TABLE 19 HEALTHCARE ANALYTICS MARKET, BY APPLICATION, 20192026 (USD MILLION) 9.2 FINANCIAL ANALYTICS TABLE 20 COMMERCIALLY AVAILABLE FINANCIAL ANALYTICS SOLUTIONS TABLE 21 FINANCIAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 22 FINANCIAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.2.1 CLAIMS PROCESSING 9.2.1.1 Need to improve claims response time and avoid fraudulent claims will support the use of analytics tools TABLE 23 COMMERCIALLY AVAILABLE CLAIMS PROCESSING SOLUTIONS TABLE 24 CLAIMS PROCESSING MARKET, BY REGION, 20192026 (USD MILLION) 9.2.2 REVENUE CYCLE MANAGEMENT 9.2.2.1 Healthcare organizations are rapidly adopting predictive analytics solutions for proactive decision-making TABLE 25 COMMERCIALLY AVAILABLE RCM SOLUTIONS TABLE 26 REVENUE CYCLE MANAGEMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.2.3 PAYMENT INTEGRITY & FRAUD, WASTE, AND ABUSE 9.2.3.1 Implementation of ICD-10 code sets and adoption of fee-for-value systems will drive market growth TABLE 27 COMMERCIALLY AVAILABLE PAYMENT INTEGRITY & FWA SOLUTIONS TABLE 28 PAYMENT INTEGRITY & FWA MARKET, BY REGION, 20192026 (USD MILLION) 9.2.4 RISK ADJUSTMENT & ASSESSMENT 9.2.4.1 Risk adjustment & assessment allow for optimization of cash flows and improved financial performance TABLE 29 COMMERCIALLY AVAILABLE RISK ADJUSTMENT & ASSESSMENT SOLUTIONS TABLE 30 RISK ADJUSTMENT & ASSESSMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.3 CLINICAL ANALYTICS TABLE 31 COMMERCIALLY AVAILABLE CLINICAL ANALYTICS SOLUTIONS TABLE 32 CLINICAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 33 CLINICAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.1 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING 9.3.1.1 Benchmarking allows for the identification of issues that are negatively impacting healthcare systems TABLE 34 COMMERCIALLY AVAILABLE QUALITY IMPROVEMENT & CLINICAL BENCHMARKING SOLUTIONS TABLE 35 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING MARKET, BY REGION, 20192026 (USD MILLION) 9.3.2 CLINICAL DECISION SUPPORT 9.3.2.1 Predictive clinical analytics reduce medical errors and ensure that appropriate tests are performed, a key factor for market growth TABLE 36 COMMERCIALLY AVAILABLE SOLUTIONS FOR CDS TABLE 37 CLINICAL DECISION SUPPORT MARKET, BY REGION, 20192026 (USD MILLION) 9.3.3 REPORTING & COMPLIANCE 9.3.3.1 Stringent regulatory requirements have led to the need for reporting & compliance solutions TABLE 38 REPORTING & COMPLIANCE MARKET, BY REGION, 20192026 (USD MILLION) 9.3.4 COMPARATIVE ANALYTICS/EFFECTIVENESS 9.3.4.1 Growing adoption of EHRs to provide significant growth opportunities TABLE 39 COMMERCIALLY AVAILABLE COMPARATIVE ANALYTICS/EFFECTIVENESS SOLUTIONS TABLE 40 COMPARATIVE ANALYTICS/EFFECTIVENESS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.5 PRECISION HEALTH 9.3.5.1 Strong government support for personalized medicine is likely to drive market growth TABLE 41 COMMERCIALLY AVAILABLE PRECISION HEALTH SOLUTIONS TABLE 42 PRECISION HEALTH MARKET, BY REGION, 20192026 (USD MILLION) 9.3.6 MEDICAL IMAGING ANALYTICS 9.3.6.1 Imaging analytics aided by artificial intelligence and machine learning is rapidly expanding within the healthcare IT industry TABLE 43 MEDICAL IMAGING ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4 OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 44 COMMERCIALLY AVAILABLE SOLUTIONS FOR OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 45 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 46 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.1 SUPPLY CHAIN ANALYTICS 9.4.1.1 The growing requirement to reduce healthcare costs will increase the adoption of supply chain analytics solutions TABLE 47 COMMERCIALLY AVAILABLE SUPPLY CHAIN ANALYTICS SOLUTIONS TABLE 48 SUPPLY CHAIN ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.2 WORKFORCE ANALYTICS 9.4.2.1 Need for real-time resource demand and supply data to drive the adoption of workforce analytics solutions TABLE 49 COMMERCIALLY AVAILABLE WORKFORCE ANALYTICS SOLUTIONS TABLE 50 WORKFORCE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.3 STRATEGIC ANALYTICS 9.4.3.1 Strategic analytics uses advanced analytics tools to leverage operational and usage data, a key advantage TABLE 51 STRATEGIC ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.5 POPULATION HEALTH ANALYTICS 9.5.1 POPULATION HEALTH ANALYTICS IMPROVES POPULATION HEALTH OUTCOMES AND LOWERS COSTS, A KEY FACTOR FOR MARKET GROWTH TABLE 52 COMMERCIALLY AVAILABLE POPULATION HEALTH ANALYTICS SOLUTIONS TABLE 53 POPULATION HEALTH ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION), 10 HEALTHCARE ANALYTICS MARKET, BY END USER (Page No. . This study involved four major activities in estimating the size of the healthcare analytics market. Furthermore, several healthcare organisations are moving forward with incorporation of various healthcare analytics tools and software to minimize human error and reduce subsequent costs, thereby fostering the market forecasts. Thus, it helps doctors to identify illness/disease at early stage which can be treated early and costs less. The COVID-19 pandemic has had a significant impact on the worlds population and economy. > - 73) 6.1 INTRODUCTION TABLE 2 HEALTHCARE ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) 6.2 DESCRIPTIVE ANALYTICS 6.2.1 DESCRIPTIVE ANALYTICS IS USED TO CONVERT PAST DATA INTO USEFUL INFORMATION TABLE 3 DESCRIPTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.3 PREDICTIVE ANALYTICS 6.3.1 THE INCREASING INCIDENCE OF HEALTHCARE FRAUD IS DRIVING THE MARKET GROWTH FOR PREDICTIVE ANALYTICS TABLE 4 PREDICTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.4 PRESCRIPTIVE ANALYTICS 6.4.1 PRESCRIPTIVE ANALYTICS TO REGISTER THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD TABLE 5 PRESCRIPTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.5 COGNITIVE ANALYTICS 6.5.1 VENDORS ARE NOW FOCUSING ON INTRODUCING AI-DRIVEN ANALYTICS SOLUTIONS TABLE 6 COGNITIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION), 7 HEALTHCARE ANALYTICS MARKET, BY COMPONENT (Page No. Therefore, rising adoption of healthcare analytics helps in lowering operational costs, promotes innovations and enhances quality of care delivered. This product launch enhanced its patient care portfolio. Hence, it is anticipated to remain one of the prime factors hampering the market growth. Thus, these factors are accelerating the demand for personalised and evidence-based medicine, thereby augmenting the global market growth. North America accounted for over 65% revenue proportion in the global healthcare analytics market in 2021. To speak to our analyst for a discussion on the above findings, click Speak to Analyst, 1 INTRODUCTION (Page No. 80% of fortune 2000 companies rely on our research to identify new revenue sources. Gradually, most hospitals are recognizing the inefficiencies of traditional approaches in patient care, quality assurance, and cost management. In July 2021, Enlitic (US) partnered with NMC Healthcare (UAE). - 59) 4.1 HEALTHCARE ANALYTICS MARKET OVERVIEW FIGURE 19 GOVERNMENT INITIATIVES TO INCREASE EHR ADOPTION AND GROWING PRESSURE TO CURB HEALTHCARE COSTS ARE DRIVING MARKET GROWTH 4.2 FINANCIAL ANALYTICS MARKET SHARE, BY TYPE & REGION (2020) FIGURE 20 NORTH AMERICA TO HOLD THE LARGEST SHARE OF THE FINANCIAL ANALYTICS MARKET IN 2020 4.3 HEALTHCARE ANALYTICS MARKET: GEOGRAPHIC MIX FIGURE 21 THE US TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD 4.4 REGIONAL MIX: HEALTHCARE ANALYTICS MARKET, 5 MARKET OVERVIEW (Page No. - 35) 1.1 OBJECTIVES OF THE STUDY 1.2 MARKET DEFINITION 1.2.1 INCLUSIONS & EXCLUSIONS OF THE STUDY FIGURE 1 HEALTHCARE ANALYTICS MARKET SEGMENTATION 1.2.2 YEARS CONSIDERED FOR THE STUDY 1.3 CURRENCY 1.4 LIMITATIONS 1.5 STAKEHOLDERS 1.6 SUMMARY OF CHANGES, 2 RESEARCH METHODOLOGY (Page No. Home Healthcare Analytics Market. - 201) 12.1 INTRODUCTION 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 12.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN THE HEALTHCARE ANALYTICS MARKET 12.3 MARKET RANKING ANALYSIS FIGURE 29 IBM WAS THE LEADING PLAYER IN THE HEALTHCARE ANALYTICS MARKET IN 2020 12.4 COMPANY EVALUATION MATRIX 12.4.1 COMPANY EVALUATION MATRIX: HEALTHCARE ANALYTICS MARKET 12.4.1.1 Stars 12.4.1.2 Pervasive players 12.4.1.3 Emerging leaders 12.4.1.4 Participants 12.4.1.5 Competitive benchmarking 12.4.1.5.1 Overall footprint of companies (20 companies) TABLE 245 SERVICE FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 246 END-USER FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 247 REGIONAL FOOTPRINT OF COMPANIES (20 COMPANIES) 12.5 COMPETITIVE SITUATIONS AND TRENDS 12.5.1 PRODUCT/SERVICE LAUNCHES & APPROVALS TABLE 248 PRODUCT/SERVICE LAUNCHES (JANUARY 2018 TO AUGUST 2021) 12.5.2 DEALS TABLE 249 DEALS (JANUARY 2018 TO AUGUST 2021). The prescriptive and predictive analytics solutions have been used to create prediction models to assess the advent of following waves of COVID-19 infection spread in various countries of the world. Healthcare analytics is defined as the effective utilisation of data and related business insights built through predictive, comparative, qualitative, cognitive, and other upcoming employed analytical models. See for yourself. Get more details on this report - Request Free Sample PDF. In June 2021, Flatiron (US) Partnered with Foundation Medicine, Inc. to integrate its solutions with OncoEMR to offer integrated genomic profiling to customers. Based on product, the healthcare analytics industry is divided into descriptive analytics, predictive analytics, and prescriptive analytics. The primary sources from the supply side include CEOs, vice presidents, marketing and sales directors, business development managers, and technology and innovation directors of healthcare analytics companies. It is observed that there exists a dearth of skilled professionals in the healthcare sector for the smooth adoption and integration of novel technologies such as big data analytics, machine learning and artificial intelligence, among others. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. Patient data contains personal, private, or confidential information that requires strict safeguards to prevent its misuse. The impact of this factor is greater in emerging markets where several end users struggle to secure budgets for IT over medical equipment. Increasing market demand for efficient healthcare facilities is boosting the segmental demand. The healthcare analytics has also witnessed significant developments and innovations in the market space owed to the outbreak of the pandemic.
Future healthcare trends are more quality-oriented, focusing on the quality of services provided as well as on generating novel approaches to value-based medicine and care management. The increase in the adoption of EHR in developing and developed countries during the pandemic has further influenced the growth of the market in 2020. - 80) 7.1 INTRODUCTION TABLE 7 HEALTHCARE ANALYTICS MARKET, BY COMPONENT, 20192026 (USD MILLION) 7.2 SERVICES TABLE 8 HEALTHCARE ANALYTICS SERVICES MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 9 HEALTHCARE ANALYTICS SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.2.1 SUPPORT SERVICES 7.2.1.1 Support services include implementation, ongoing IT support, system integration, training, and maintenance services TABLE 10 HEALTHCARE ANALYTICS SUPPORT SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.2.2 BUSINESS ANALYTICS SERVICES 7.2.2.1 Business analytics services help healthcare organizations to optimize the use of analytics and drive performance improvement TABLE 11 HEALTHCARE BUSINESS ANALYTICS SERVICES MARKET, BY REGION, 20192026 (USD MILLION) 7.3 SOFTWARE 7.3.1 HEALTHCARE ANALYTICS SOFTWARE WORKS AS AN INTERFACE BETWEEN THE DATABASE AND END USERS TABLE 12 HEALTHCARE ANALYTICS SOFTWARE MARKET, BY REGION, 20192026 (USD MILLION) 7.4 HARDWARE 7.4.1 INCREASING ADOPTION OF CLOUD SERVERS IS EXPECTED TO HINDER THE GROWTH OF THE HARDWARE MARKET FOR ANALYTICS TABLE 13 HEALTHCARE ANALYTICS HARDWARE MARKET, BY REGION, 20192026 (USD MILLION), 8 HEALTHCARE ANALYTICS MARKET, BY DEPLOYMENT MODEL (Page No.
North America accounted for more than 65% of the global healthcare analytics market in 2021 due to the increasing prevalence of chronic diseases along with a growing geriatric population. In March 2021, McKesson Corporation launched ScriptPAS, a pharmacy management platform for oncology practices. Both top-down and bottom-up approaches were used to estimate and validate the total size of the healthcare analytics market. Advanced on-premise healthcare analytics solutions can cost over USD 200,000 for implementation and about the same for annual subscription/licensing fees. - 274) 14.1 DISCUSSION GUIDE 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 14.3 AVAILABLE CUSTOMIZATIONS 14.4 RELATED REPORTS 14.5 AUTHOR DETAILS. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. This is a multi-faceted partnership with private healthcare companies to incorporate Enlitics solutions in GCC countries. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments. On the other hand, primary sources from the demand side include industry experts such as directors of hospitals, hospital purchase managers, insurance payers, physicians, and related key opinion leaders. Your personal details will remain secure and confidential. The growing use of automated technologies (such as EHRs and medical claims processing), as well as the shifting trend toward health information exchanges (HIEs), have altered the healthcare privacy and security landscape. Global healthcare analytics industry revenue from the descriptive analytics segment crossed USD 6.5 million in 2021 because this type of analytics helps organizations base their business strategies by offering a holistic view of the stored data. This is one of the major factors hampering the healthcare analytics market demand. Since the US is a major contributor to the healthcare analytics market, the implementation of these initiatives is considered a positive indicator of the growth of the overall market. Hospitals segment dominated the market accounting for nearly USD 8.8 billion in 2021. Only top-tier hospitals have the capability and funding to utilize big data in order to provide actionable insights effectively. Based on end-use, the healthcare analytics market is divided into hospitals, clinics, and others. Furthermore, stringent data integrity and compliance regulations affects technology advancements adoption rate in healthcare industry. Moreover, most of the leading players in the market have their headquarters in North America. - 54) FIGURE 13 HEALTHCARE ANALYTICS MARKET, BY TYPE, 2021 VS. 2026 (USD MILLION) FIGURE 14 MARKET, BY APPLICATION, 2021 VS. 2026 (USD MILLION) FIGURE 15 MARKET, BY COMPONENT, 2021 VS. 2026 (USD MILLION) FIGURE 16 MARKET, BY DEPLOYMENT MODEL, 2021 VS. 2026 (USD MILLION) FIGURE 17 HEALTHCARE ANALYTICS MARKET, BY END USER, 2021 VS. 2026 (USD MILLION) FIGURE 18 GEOGRAPHICAL SNAPSHOT OF THE HEALTHCARE ANALYTICS MARKET, 4 PREMIUM INSIGHTS (Page No. The outbreak of COVID-19 virus has had a predominanat effect on the economics and business of major countries of the world. Some of the recent industry developments: The healthcare analytics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments: The above information is provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. Moreover, with increasing number of insurance claims, the demand for optimum financial management is also observed to increase in order to detect fraudulent claims. The research methodology used to estimate the market size includes the following: After arriving at the market size, the total market was divided into several segments and subsegments. 7500+ companies worldwide approach us every year for their revenue growth inititatives. The predictive and prescriptive analytics has been used to develop prediction models to estimate the emergence of subsequent waves of COVID-19 infection spread in different regions of the world. As a consequence of the outbreak, there has been an rise in the significance of big data in healthcare sector. In September 2020, Inovalon launched the Inovalon DataStream API for analytical derivations of patient-specific data. - 112) 10.1 INTRODUCTION TABLE 54 MARKET, BY END USER, 20192026 (USD MILLION) 10.2 PAYERS TABLE 55 MARKET FOR PAYERS, BY TYPE, 20192026 (USD MILLION) TABLE 56 MARKET FOR PAYERS, BY REGION, 20192026 (USD MILLION) 10.2.1 PRIVATE INSURANCE COMPANIES 10.2.1.1 Private insurance companies accounted for the largest share of the payers market in 2020 TABLE 57 HEALTHCARE ANALYTICS MARKET FOR PRIVATE INSURANCE COMPANIES, BY REGION, 20192026 (USD MILLION) 10.2.2 GOVERNMENT AGENCIES 10.2.2.1 Increasing use of analytics solutions by government agencies to boost the market growth of this end-user segment TABLE 58 HEALTHCARE ANALYTICS MARKET FOR GOVERNMENT AGENCIES, BY REGION, 20192026 (USD MILLION) 10.2.3 EMPLOYERS AND PRIVATE EXCHANGES 10.2.3.1 Private exchanges and employers use data analytics for rapid data integration, health plan analysis, and risk modeling TABLE 59 HEALTHCARE ANALYTICS MARKET FOR EMPLOYERS AND PRIVATE EXCHANGES, BY REGION, 20192026 (USD MILLION) 10.3 PROVIDERS TABLE 60 MARKET FOR PROVIDERS, BY TYPE, 20192026 (USD MILLION) 10.3.1 HOSPITALS, PHYSICIAN PRACTICES, AND IDNS 10.3.1.1 The adoption of healthcare analytics solutions is the highest in large hospitals TABLE 61 MARKET FOR HOSPITALS, PHYSICIAN PRACTICES, AND IDNS, BY REGION, 20192026 (USD MILLION) 10.3.2 POST-ACUTE CARE ORGANIZATIONS (PACOS) 10.3.2.1 PACOs focus on reviewing and studying patient data with the help of healthcare analytics TABLE 62 MARKET FOR PACOS, BY REGION, 20192026 (USD MILLION) 10.3.3 AMBULATORY SETTINGS 10.3.3.1 The need to control healthcare costs to support the market growth of ambulatory settings TABLE 63 MARKET FOR AMBULATORY SETTINGS, BY REGION, 20192026 (USD MILLION) 10.4 ACOS, HIES, MCOS, AND TPAS TABLE 64 MARKET FOR ACOS, HIES, MCOS, AND TPAS, BY REGION, 20192026 (USD MILLION), 11 HEALTHCARE ANALYTICS MARKET, BY REGION (Page No. Based on application, the market is segmented into operations management, population health management, financial management, and clinical management. [282 Pages Report] The healthcare analytics market is projected to reach USD 75.1 billion by 2026, at a CAGR of 28.9% during the forecasted period. In addition, technological advancements in data analytics along with a high density of prominent players operating in the regional market are few other factors that favour the North American industry demand. In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. needs. - 40) 2.1 RESEARCH APPROACH 2.2 RESEARCH METHODOLOGY DESIGN 2.2.1 SECONDARY RESEARCH 2.2.1.1 Key data from secondary sources 2.2.2 PRIMARY DATA FIGURE 2 PRIMARY SOURCES 2.2.2.1 Insights from primary experts FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 2.3 MARKET SIZE ESTIMATION: HEALTHCARE ANALYTICS MARKET FIGURE 5 SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS FIGURE 6 REVENUE SHARE ANALYSIS ILLUSTRATION FIGURE 7 REVENUE ANALYSIS OF THE TOP THREE PUBLIC COMPANIES: HEALTHCARE ANALYTICS MARKET (2020) FIGURE 8 BOTTOM-UP APPROACH: END-USER ADOPTION/CONSUMPTION OF HEALTHCARE ANALYTICS (US) FIGURE 9 CAGR PROJECTIONS FROM THE ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES OF THE HEALTHCARE ANALYTICS MARKET (20212026) FIGURE 11 TOP-DOWN APPROACH 2.4 MARKET BREAKDOWN & DATA TRIANGULATION 2.5 MARKET SHARE ESTIMATION 2.6 ASSUMPTIONS FOR THE STUDY 2.7 LIMITATIONS 2.7.1 METHODOLOGY-RELATED LIMITATIONS 2.7.2 SCOPE-RELATED LIMITATIONS 2.8 RISK ASSESSMENT TABLE 1 RISK ASSESSMENT: HEALTHCARE ANALYTICS MARKET, 3 EXECUTIVE SUMMARY (Page No. The company have also adopted inorganic and organic strategies to sieze the immense growth opportunity the COVID-19 has provided to the market.
To know about the assumptions considered for the study, Request for Free Sample Report. It offers enhanced medication selection and targeted therapy, increased patient compliance, improves cost effectiveness, helps in developing novel therapeutic strategies, promotes consistency in treatment & optimal outcomes, etc. Big data also plays an important role in COVID-19 for analysing and validate data, as it helped in controlling the spread of COVID-19 by helping key decision makers with providing mathematical modelling and data visualization. It also enables transparency in all processes to examine every purchase from the standpoint of value, utility, and outcomes. Access to only 1 person; cannot be shared; cannot be printed, Access for 2 to 5 users only within same department of one company, Access to a company wide audience; includes subsidiary companies or other companies within a group of companies, We use cookies to enhance user experience, Emergence of personalized and evidence-based medicine, Rising investments in venture capital funds, Lack of skilled IT professionals in healthcare. Global Market Insights Inc.
However, the emergence of COVID-19 pandemic has positively impacted the healthcare analytics market growth. What is the impact of COVID-19 on the healthcare analytics market? Value-based medicine is redefining healthcare and capturing results-oriented data and making it usable. - 91) 9.1 INTRODUCTION TABLE 19 HEALTHCARE ANALYTICS MARKET, BY APPLICATION, 20192026 (USD MILLION) 9.2 FINANCIAL ANALYTICS TABLE 20 COMMERCIALLY AVAILABLE FINANCIAL ANALYTICS SOLUTIONS TABLE 21 FINANCIAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 22 FINANCIAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.2.1 CLAIMS PROCESSING 9.2.1.1 Need to improve claims response time and avoid fraudulent claims will support the use of analytics tools TABLE 23 COMMERCIALLY AVAILABLE CLAIMS PROCESSING SOLUTIONS TABLE 24 CLAIMS PROCESSING MARKET, BY REGION, 20192026 (USD MILLION) 9.2.2 REVENUE CYCLE MANAGEMENT 9.2.2.1 Healthcare organizations are rapidly adopting predictive analytics solutions for proactive decision-making TABLE 25 COMMERCIALLY AVAILABLE RCM SOLUTIONS TABLE 26 REVENUE CYCLE MANAGEMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.2.3 PAYMENT INTEGRITY & FRAUD, WASTE, AND ABUSE 9.2.3.1 Implementation of ICD-10 code sets and adoption of fee-for-value systems will drive market growth TABLE 27 COMMERCIALLY AVAILABLE PAYMENT INTEGRITY & FWA SOLUTIONS TABLE 28 PAYMENT INTEGRITY & FWA MARKET, BY REGION, 20192026 (USD MILLION) 9.2.4 RISK ADJUSTMENT & ASSESSMENT 9.2.4.1 Risk adjustment & assessment allow for optimization of cash flows and improved financial performance TABLE 29 COMMERCIALLY AVAILABLE RISK ADJUSTMENT & ASSESSMENT SOLUTIONS TABLE 30 RISK ADJUSTMENT & ASSESSMENT MARKET, BY REGION, 20192026 (USD MILLION) 9.3 CLINICAL ANALYTICS TABLE 31 COMMERCIALLY AVAILABLE CLINICAL ANALYTICS SOLUTIONS TABLE 32 CLINICAL ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 33 CLINICAL ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.1 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING 9.3.1.1 Benchmarking allows for the identification of issues that are negatively impacting healthcare systems TABLE 34 COMMERCIALLY AVAILABLE QUALITY IMPROVEMENT & CLINICAL BENCHMARKING SOLUTIONS TABLE 35 QUALITY IMPROVEMENT & CLINICAL BENCHMARKING MARKET, BY REGION, 20192026 (USD MILLION) 9.3.2 CLINICAL DECISION SUPPORT 9.3.2.1 Predictive clinical analytics reduce medical errors and ensure that appropriate tests are performed, a key factor for market growth TABLE 36 COMMERCIALLY AVAILABLE SOLUTIONS FOR CDS TABLE 37 CLINICAL DECISION SUPPORT MARKET, BY REGION, 20192026 (USD MILLION) 9.3.3 REPORTING & COMPLIANCE 9.3.3.1 Stringent regulatory requirements have led to the need for reporting & compliance solutions TABLE 38 REPORTING & COMPLIANCE MARKET, BY REGION, 20192026 (USD MILLION) 9.3.4 COMPARATIVE ANALYTICS/EFFECTIVENESS 9.3.4.1 Growing adoption of EHRs to provide significant growth opportunities TABLE 39 COMMERCIALLY AVAILABLE COMPARATIVE ANALYTICS/EFFECTIVENESS SOLUTIONS TABLE 40 COMPARATIVE ANALYTICS/EFFECTIVENESS MARKET, BY REGION, 20192026 (USD MILLION) 9.3.5 PRECISION HEALTH 9.3.5.1 Strong government support for personalized medicine is likely to drive market growth TABLE 41 COMMERCIALLY AVAILABLE PRECISION HEALTH SOLUTIONS TABLE 42 PRECISION HEALTH MARKET, BY REGION, 20192026 (USD MILLION) 9.3.6 MEDICAL IMAGING ANALYTICS 9.3.6.1 Imaging analytics aided by artificial intelligence and machine learning is rapidly expanding within the healthcare IT industry TABLE 43 MEDICAL IMAGING ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4 OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 44 COMMERCIALLY AVAILABLE SOLUTIONS FOR OPERATIONAL & ADMINISTRATIVE ANALYTICS TABLE 45 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) TABLE 46 OPERATIONAL & ADMINISTRATIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.1 SUPPLY CHAIN ANALYTICS 9.4.1.1 The growing requirement to reduce healthcare costs will increase the adoption of supply chain analytics solutions TABLE 47 COMMERCIALLY AVAILABLE SUPPLY CHAIN ANALYTICS SOLUTIONS TABLE 48 SUPPLY CHAIN ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.2 WORKFORCE ANALYTICS 9.4.2.1 Need for real-time resource demand and supply data to drive the adoption of workforce analytics solutions TABLE 49 COMMERCIALLY AVAILABLE WORKFORCE ANALYTICS SOLUTIONS TABLE 50 WORKFORCE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.4.3 STRATEGIC ANALYTICS 9.4.3.1 Strategic analytics uses advanced analytics tools to leverage operational and usage data, a key advantage TABLE 51 STRATEGIC ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 9.5 POPULATION HEALTH ANALYTICS 9.5.1 POPULATION HEALTH ANALYTICS IMPROVES POPULATION HEALTH OUTCOMES AND LOWERS COSTS, A KEY FACTOR FOR MARKET GROWTH TABLE 52 COMMERCIALLY AVAILABLE POPULATION HEALTH ANALYTICS SOLUTIONS TABLE 53 POPULATION HEALTH ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION), 10 HEALTHCARE ANALYTICS MARKET, BY END USER (Page No. . This study involved four major activities in estimating the size of the healthcare analytics market. Furthermore, several healthcare organisations are moving forward with incorporation of various healthcare analytics tools and software to minimize human error and reduce subsequent costs, thereby fostering the market forecasts. Thus, it helps doctors to identify illness/disease at early stage which can be treated early and costs less. The COVID-19 pandemic has had a significant impact on the worlds population and economy. > - 73) 6.1 INTRODUCTION TABLE 2 HEALTHCARE ANALYTICS MARKET, BY TYPE, 20192026 (USD MILLION) 6.2 DESCRIPTIVE ANALYTICS 6.2.1 DESCRIPTIVE ANALYTICS IS USED TO CONVERT PAST DATA INTO USEFUL INFORMATION TABLE 3 DESCRIPTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.3 PREDICTIVE ANALYTICS 6.3.1 THE INCREASING INCIDENCE OF HEALTHCARE FRAUD IS DRIVING THE MARKET GROWTH FOR PREDICTIVE ANALYTICS TABLE 4 PREDICTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.4 PRESCRIPTIVE ANALYTICS 6.4.1 PRESCRIPTIVE ANALYTICS TO REGISTER THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD TABLE 5 PRESCRIPTIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION) 6.5 COGNITIVE ANALYTICS 6.5.1 VENDORS ARE NOW FOCUSING ON INTRODUCING AI-DRIVEN ANALYTICS SOLUTIONS TABLE 6 COGNITIVE ANALYTICS MARKET, BY REGION, 20192026 (USD MILLION), 7 HEALTHCARE ANALYTICS MARKET, BY COMPONENT (Page No. Therefore, rising adoption of healthcare analytics helps in lowering operational costs, promotes innovations and enhances quality of care delivered. This product launch enhanced its patient care portfolio. Hence, it is anticipated to remain one of the prime factors hampering the market growth. Thus, these factors are accelerating the demand for personalised and evidence-based medicine, thereby augmenting the global market growth. North America accounted for over 65% revenue proportion in the global healthcare analytics market in 2021. To speak to our analyst for a discussion on the above findings, click Speak to Analyst, 1 INTRODUCTION (Page No. 80% of fortune 2000 companies rely on our research to identify new revenue sources. Gradually, most hospitals are recognizing the inefficiencies of traditional approaches in patient care, quality assurance, and cost management. In July 2021, Enlitic (US) partnered with NMC Healthcare (UAE). - 59) 4.1 HEALTHCARE ANALYTICS MARKET OVERVIEW FIGURE 19 GOVERNMENT INITIATIVES TO INCREASE EHR ADOPTION AND GROWING PRESSURE TO CURB HEALTHCARE COSTS ARE DRIVING MARKET GROWTH 4.2 FINANCIAL ANALYTICS MARKET SHARE, BY TYPE & REGION (2020) FIGURE 20 NORTH AMERICA TO HOLD THE LARGEST SHARE OF THE FINANCIAL ANALYTICS MARKET IN 2020 4.3 HEALTHCARE ANALYTICS MARKET: GEOGRAPHIC MIX FIGURE 21 THE US TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD 4.4 REGIONAL MIX: HEALTHCARE ANALYTICS MARKET, 5 MARKET OVERVIEW (Page No. - 35) 1.1 OBJECTIVES OF THE STUDY 1.2 MARKET DEFINITION 1.2.1 INCLUSIONS & EXCLUSIONS OF THE STUDY FIGURE 1 HEALTHCARE ANALYTICS MARKET SEGMENTATION 1.2.2 YEARS CONSIDERED FOR THE STUDY 1.3 CURRENCY 1.4 LIMITATIONS 1.5 STAKEHOLDERS 1.6 SUMMARY OF CHANGES, 2 RESEARCH METHODOLOGY (Page No. Home Healthcare Analytics Market. - 201) 12.1 INTRODUCTION 12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 12.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN THE HEALTHCARE ANALYTICS MARKET 12.3 MARKET RANKING ANALYSIS FIGURE 29 IBM WAS THE LEADING PLAYER IN THE HEALTHCARE ANALYTICS MARKET IN 2020 12.4 COMPANY EVALUATION MATRIX 12.4.1 COMPANY EVALUATION MATRIX: HEALTHCARE ANALYTICS MARKET 12.4.1.1 Stars 12.4.1.2 Pervasive players 12.4.1.3 Emerging leaders 12.4.1.4 Participants 12.4.1.5 Competitive benchmarking 12.4.1.5.1 Overall footprint of companies (20 companies) TABLE 245 SERVICE FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 246 END-USER FOOTPRINT OF COMPANIES (20 COMPANIES) TABLE 247 REGIONAL FOOTPRINT OF COMPANIES (20 COMPANIES) 12.5 COMPETITIVE SITUATIONS AND TRENDS 12.5.1 PRODUCT/SERVICE LAUNCHES & APPROVALS TABLE 248 PRODUCT/SERVICE LAUNCHES (JANUARY 2018 TO AUGUST 2021) 12.5.2 DEALS TABLE 249 DEALS (JANUARY 2018 TO AUGUST 2021). The prescriptive and predictive analytics solutions have been used to create prediction models to assess the advent of following waves of COVID-19 infection spread in various countries of the world. Healthcare analytics is defined as the effective utilisation of data and related business insights built through predictive, comparative, qualitative, cognitive, and other upcoming employed analytical models. See for yourself. Get more details on this report - Request Free Sample PDF. In June 2021, Flatiron (US) Partnered with Foundation Medicine, Inc. to integrate its solutions with OncoEMR to offer integrated genomic profiling to customers. Based on product, the healthcare analytics industry is divided into descriptive analytics, predictive analytics, and prescriptive analytics. The primary sources from the supply side include CEOs, vice presidents, marketing and sales directors, business development managers, and technology and innovation directors of healthcare analytics companies. It is observed that there exists a dearth of skilled professionals in the healthcare sector for the smooth adoption and integration of novel technologies such as big data analytics, machine learning and artificial intelligence, among others. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. Patient data contains personal, private, or confidential information that requires strict safeguards to prevent its misuse. The impact of this factor is greater in emerging markets where several end users struggle to secure budgets for IT over medical equipment. Increasing market demand for efficient healthcare facilities is boosting the segmental demand. The healthcare analytics has also witnessed significant developments and innovations in the market space owed to the outbreak of the pandemic.