Healthcare Predictive Analytics Market Report by Product (Hardware, Software and Services), Deployment Mode (On-premises, Cloud-based), Application (Clinical Data Analytics, Financial Data Analytics, Research Data Analytics, Operations Management, and Others), End User (Healthcare Payer, Healthcare Provider, and Others), and Region 2024-2032
The global healthcare predictive analytics market size reached US$ 9.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 46.9 Billion by 2032, exhibiting a growth rate (CAGR) of 18.8% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 9.5 Billion
Market Forecast in 2032
US$ 46.9 Billion
Market Growth Rate 2024-2032
18.8%
Healthcare predictive analytics refers to advanced software that automatically analyzes data to improve the overall patient outcomes and provides more effective care. It is widely used for remote monitoring, diagnosis, treatment course design, prognosis, clinical decision support, care quality improvement, and care cost reduction purposes. It can store large amounts of data, predict a patient's response and provide a more personalized healthcare experience. Healthcare predictive analytics aids in improving patient healthcare, easing patient diagnosis, detecting patients at higher risks, gaining better insights and enabling healthcare practitioners to make well-informed decisions. Furthermore, the software functions are based on the patient's environment, risk factors, genetics and medical history.
Healthcare Predictive Analytics Market Trends:
The significant growth in the healthcare industry across the globe is creating a positive outlook for the market. Healthcare predictive analytics is widely adopted to improve efficiency in clinical operations and health outcomes through enhanced care and patient engagement. In line with this, the increasing adoption of electronic health record (EHR) systems to help in the management of patient outcomes and provide accurate, up-to-date, and complete information is favoring the market growth. Apart from this, various advancements in technology, such as the integration of the internet of things (IoT) and big data that assists in collecting patient records and test results, analyzing disease patterns, and increasing patient comfort and convenience, are providing an impetus to the market growth. Additionally, the extensive utilization of the software by healthcare payers due to its cost-effectiveness, reduced number of unnecessary tests, fraud detection and improved decision-making is positively impacting the market growth. Other factors, including the increasing geriatric population prone to chronic diseases, significant improvements in healthcare infrastructure, and the implementation of various government initiatives on improving population health management, are anticipated to drive the market further toward growth.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare predictive analyticsmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, deployment mode, application and end user.
Breakup by Product:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Hardware
Software and Services
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Application:
Clinical Data Analytics
Financial Data Analytics
Research Data Analytics
Operations Management
Others
Breakup by End User:
Healthcare Payer
Healthcare Provider
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allscripts Healthcare Solutions Inc., Cerner Corporation, IBM Corporation, McKesson Corporation, MedeAnalytics Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., UnitedHealth Group Incorporated and Verisk Analytics.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Product, Deployment Mode, Application, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Allscripts Healthcare Solutions Inc., Cerner Corporation, IBM Corporation, McKesson Corporation, MedeAnalytics Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., UnitedHealth Group Incorporated and Verisk Analytics.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global healthcare predictive analytics market was valued at US$ 9.5 Billion in 2023.
We expect the global healthcare predictive analytics market to exhibit a CAGR of 18.8% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of healthcare predictive analytics to evaluate pandemic risks, estimated number of infected cases, and potential impact on the resources.
The rising integration of the IoT and Big Data technologies that assist in collecting patient records and test results, analyzing disease patterns, and increasing patient comfort and convenience is primarily driving the global healthcare predictive analytics market.
Based on the product, the global healthcare predictive analytics market has been divided into hardware and software and services. Currently, software and services exhibit a clear dominance in the market.
Based on the deployment mode, the global healthcare predictive analytics market can be categorized into on-premises and cloud-based, where on-premises hold the majority of the total market share.
Based on the application, the global healthcare predictive analytics market has been segmented into clinical data analytics, financial data analytics, research data analytics, operations management, and others. Among these, financial data analytics account for the largest market share.
Based on the end user, the global healthcare predictive analytics market can be bifurcated into healthcare payer, healthcare provider, and others. Currently, healthcare payer holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global healthcare predictive analytics market include Allscripts Healthcare Solutions Inc., Cerner Corporation, IBM Corporation, McKesson Corporation, MedeAnalytics Inc., Microsoft Corporation, Oracle Corporation, SAS Institute Inc., UnitedHealth Group Incorporated, and Verisk Analytics.
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