Global Healthcare Analytics Market 2017-2024: Growing Pressure to Curb Healthcare Spending and Improve Patient Outcomes Driving Growth
The "Healthcare Analytics Market by Type Application Component Delivery End User - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Growing initiatives to increase EHR adoption and big data in healthcare are expected to drive the overall growth of the healthcare analytics market.
The healthcare business analytics market is projected to reach
The growth of this market is majorly driven by the implementation of government initiatives to increase EHR adoption, growing adoption of data-driven decision-making, growing pressure to curb healthcare spending and improve patient outcomes, the emergence of big data in healthcare, and the increasing number of patient registries. However, the high cost of healthcare analytics solutions is expected to restrain market growth to a certain extent during the forecast period.
Prescriptive analytics segment is expected to grow at the highest CAGR during the forecast period
Based on type, healthcare analytics market is segmented into descriptive, predictive, prescriptive, and cognitive analytics. In 2019, the prescriptive analytics segment is expected to grow at the highest CAGR during the forecast period majorly due to the ability of the prescriptive analytics to ensure the synergistic integrations of predictions and prescriptions.
Clinical analytics application segment to witness high growth during the forecast period
Based on application, the healthcare analytics market is segmented into financial analytics, clinical analytics, operational & administrative analytics, and population health analytics. The clinical analytics segment is poised to grow at the highest CAGR during the forecast period. Growth in this segment is mainly due to the growing pressure to curtail healthcare spending, large volumes of healthcare data containing valuable insights, increasing incentives by governments (especially in the US) for improving the quality and reducing the cost of care, growing adoption of electronic health records (EHRs), and rising focus on building patient registries.
In 2018,
List of Companies Profiled in the Report
Allscripts (US)- Cerner (US)
- Cotiviti (
Verscend Technologies ) (US) - Citius Tech (US)
Health Catalyst (US)- IBM (US)
- Inovalon (US)
- McKesson (US)
MedeAnalytics (US)- Optum (US)
- Oracle (US)
SAS Institute (US)- SCIO Health Analytics (US)
Viteros Health (US)- Wipro (
India )
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Ranking of Key Players
2.5 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Healthcare Analytics Market Overview
4.2 Global Market, By Type, 2019 vs 2014 (USD Billion)
4.3 Global Market, By Component, 2019 vs 2014 (USD Billion)
4.4 Global Market, By Delivery Model
4.5 Financial Analytics Market Share, By Type & Region (2019)
4.6 Global Market, By End User, 2019 vs 2024 (USD Billion)
4.7 Global Market,
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Initiatives to Increase EHR Adoption
5.2.1.2 Growing Venture Capital Investments
5.2.1.3 Growing Pressure to Curb Healthcare Spending and Improve Patient Outcomes
5.2.1.4 Big Data in Healthcare
5.2.1.5 Growing Focus on Real-World Evidence
5.2.2 Restraints
5.2.2.1 High Cost of Analytics Solutions
5.2.3 Opportunities
5.2.3.1 Increasing Focus on Value-Based Medicine
5.2.3.2 Use of Analytics in Precision and Personalized Medicine
5.2.3.3 Cloud-Based Analytics
5.2.3.4 Increasing Number of Patient Registries
5.2.3.5 Emergence of Social Media and Its Impact on the Healthcare Industry
5.2.3.6 Augmented Analytics
5.2.3.7 Analytics of Healthcare Things
5.2.4 Challenges
5.2.4.1 Patient Data Confidentiality
5.2.4.2 Concerns Regarding Inaccurate and Inconsistent Data
5.2.4.3 Reluctance to Adopt Healthcare Analytics in Emerging Countries
5.2.4.4 Data Integration
5.2.4.5 Operational Gaps Between Payers and Providers
5.2.4.6 Dearth of Skilled Personnel
6 Market for Healthcare Analytics, By Type
6.1 Introduction
6.2 Descriptive Analytics
6.2.1 Descriptive Analytics are Used to Convert Past Data Into Useful Information
6.3 Predictive Analytics
6.3.1 Increasing Incidence of Healthcare Fraud is Driving the Market for Predictive Analytics
6.4 Prescriptive Analytics
6.4.1 Prescriptive Analytics to Register Highest Growth Rate During the Forecast Period
6.5 Cognitive Analytics
6.5.1 Vendors are Focusing on Introducing Ai-Driven Analytics Solutions
7 Market for Healthcare Analytics, By Component
7.1 Introduction
7.2 Services
7.2.1 Support Services
7.2.1.1 Support Services Include Implementation, Ongoing It Support, System Integration, Training, and Maintenance Services.
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
7.3 Software
7.3.1 Healthcare Analytics Software Works as an Interface Between Database and End Users
7.4 Hardware
7.4.1 Increasing Adoption of Cloud Servers is Expected to Hinder the Growth of the Hardware Market for Analytics
8 Market for Healthcare Analytics, By Delivery Model
8.1 Introduction
8.2 On-Premise Delivery Model
8.2.1 On-Premise Delivery Models Offer Multivendor Architecture, Which Lowers the Risk of Data Breaches & External Attacks
8.3 On-Demand Delivery Models
8.3.1 Increasing Volume of Data Generated Across the Healthcare Provider Industry to Drive the Adoption of On-Demand Models
9 Market for Healthcare Analytics, By Application
9.1 Introduction
9.2 Financial Analytics
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
9.2.2 Revenue Cycle Management (RCM)
9.2.2.1 Healthcare Organizations are Rapidly Adopting Predictive Analytics Solutions for Proactive Decision-Making
9.2.3 Payment Integrity & Fraud, Waste, and Abuse (FWA)
9.2.3.1 Implementation of Icd-10 Code Sets and Adoption of Fee-For-Value Systems Will Drive Market Growth
9.2.4 Risk Adjustment & Assessment
9.2.4.1 Risk Adjustment & Assessment Allow for Optimization of Cash Flows and Improved Financial Performance
9.3 Clinical Analytics
9.3.1 Quality Improvement & Clinical Benchmarking
9.3.1.1 Benchmarking Allows for the Identification of Issues Which are Negatively Impacting Healthcare Systems
9.3.2 Clinical Decision Support (CDS)
9.3.2.1 Predictive Clinical Analytics Reduce Medical Errors and Ensure That Appropriate Tests are Performed, A
9.3.3 Reporting & Compliance
9.3.3.1 Stringent Regulatory Requirements Have LED to the Need for Reporting & Compliance Solutions
9.3.4 Comparative Analytics/Effectiveness
9.3.4.1 Growing Adoption of EHRs to Provide Significant Growth Opportunities
9.3.5
9.3.5.1 Strong Government Support for Personalized Medicine is Likely to Drive Market Growth
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
9.4 Operational & Administrative Analytics
9.4.1 Supply Chain Analytics
9.4.1.1 Growing Requirement to Reduce Healthcare Costs Will Increase the Adoption of Supply Chain Analytics Solutions
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
9.4.3 Strategic Analytics
9.4.3.1 Strategic Analytics Uses Advanced Analytics Tools to Leverage Operational and Usage Data, A Key Advantage
9.5 Population Health Analytics
9.5.1 Population Health Analytics Improves Population Health Outcomes and Lowers Costs, A
10 Market for Healthcare Analytics, By End User
10.1 Introduction
10.2 Payers
10.2.1 Private Insurance Companies
10.2.1.1 Private Insurance Companies to Account for the Largest Share of the Market for Payers in 2019
10.2.2 Government Agencies
10.2.2.1 Increasing Use of Analytics Solutions By Government Agencies Will Boost the Market Growth
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
10.3 Providers
10.3.1 Hospitals, Physician Practices, and IDNS
10.3.1.1 The Adoption of Healthcare Analytics Solutions is the Highest in Large Hospitals
10.3.2 Post-Acute Care Organizations (PACOS)
10.3.2.1 PACOS are Focusing on Reviewing and Studying Patient Data With the Help of Healthcare Analytics
10.3.3 Ambulatory Settings
10.3.3.1 The Need to
10.4 ACOS, HIES, MCOS, and TPAS
11 Market for Healthcare Analytics,
12 Competitive Landscape
12.1 Overview
12.2 Ranking of Key Players, 2018
12.3 Competitive Leadership Mapping
12.3.1 Vanguards
12.3.2 Dynamic Differentiators
12.3.3 Innovators
12.3.4 Emerging Companies
12.4 Competitive Scenario
12.4.1 Partnerships, Agreements, Collaborations, and Alliances
12.4.2 Product Launches and Enhancements
12.4.3 Acquisitions
12.4.4 Expansions
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/zj49bn/global_healthcare?w=5
Media Contact:
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For
For GMT Office Hours Call +353-1-416-8900
Fax (outside
View original content:http://www.prnewswire.com/news-releases/global-healthcare-analytics-market-2017-2024-growing-pressure-to-curb-healthcare-spending-and-improve-patient-outcomes-driving-growth-300781404.html
SOURCE
34th Annual Securian Financial Winter Run is Saturday, January 26
AM BestTV: Insurance Industry Honors Marsh & McLennan Companies CEO: ‘A Passion for Running to Problems and Solving Them’
Advisor News
- Can your advisory firm survive without you?
- I started using AI, but what now?
- How to support an entrepreneur client with multiple businesses
- Could a narrower focus help grow your practice?
- U.S. debt hits $40 trillion: how to support concerned clients
More Advisor NewsAnnuity News
- Solen Software Group Acquires Cooperative Technologies, Provider of 1035 Exchange and Annuity Replacement Software
- MassMutual Expands Lending Options With New Secured Credit Line
- Corebridge Financial Introduces Progressive Trigger, a First-of-Its-Kind Index Annuity Strategy Designed to Turn Missed Years into Future Opportunity
- Insurer proposes $1.1M deal to resolve CA teachers’ annuity fee lawsuit
- IMOs get frustrated with slow carrier adoption of faster technology
More Annuity NewsHealth/Employee Benefits News
- Researchers from Department of Research and Innovation Report on Findings in Managed Care (Quantifying Medicare prescription payment plan benefits under Medicare Part D): Managed Care
- New Managed Care Study Results from Brigham and Women’s Hospital and Harvard University Described (Supplemental Rebates From Drug Makers To State Medicaid Programs Grew Fivefold From 2017 To 2024): Managed Care
- Nebraska SHIP offers support during Medicare open enrollment
- Patients demand access to prescription drugs but need support
- Oscar Health Inc. (NYSE: OSCR) Makes an Unexpected Move During Monday’s Session
More Health/Employee Benefits NewsLife Insurance News