The global healthcare analytics market to witness a CAGR of 16.30% over the forecasting period of 2019-2027.
Factors such as the rise in the demand for population health analytics, increasing usage of Big Data technologies in the healthcare industry and the growth in the adoption of business intelligence drive the healthcare analytics market. However, the lack of competent professionals in the industry and concerns regarding data security and privacy management restrain the growth of the market.
Emerging digital technologies like telehealth and rise in the opportunities in cloud-based analytics solutions are factors that help to grow the market further. Despite that, the industry is facing challenges such as continued usage of prevailing analytics tools and rise in data breaches & medical identity theft cases.
The global healthcare analytics market spans across five major geographies: North America, Latin America, Europe, Asia-Pacific and the Middle East and Africa. The healthcare analytics market in the Asia-Pacific is the fastest-growing market in terms of CAGR, globally. Healthcare analytics is being used to manage a large amount of data generated by healthcare-providing companies in the APAC. Healthcare providers are looking at, not only local companies but also global software vendors to deal with this problem. This is driving the emerging business analytics market in the region, and this market is poised for steady growth.
The top companies that have been studied in the market are Information Builders, Inc., Verisk Analytics, Oracle Corporation, SAS Institute, Inc., IBM Corp., Optum, Inc., MedeAnalytics, Cerner Corp., McKesson Corp., Health Catalyst, Elsevier B.V., Allscripts Healthcare Solutions, Inc. and 3M Company.
IBM Corporation is a US-based IT product and service company, headquartered in Armonk, New York. The company's cognitive solutions segment consists of Watson, which is a cognitive computing platform. IBM's cognitive solutions segment also provides data and analytics solutions, including cloud data services, data management platforms & solutions, analytics, talent management solutions and enterprise social software & solutions in various industries that include healthcare, airlines, banking and retail industries.
IBM has a highly technical and skilled workforce across the globe to focus on to provide more innovative products & services in healthcare.
Key Topics Covered:
1. Global Healthcare Analytics Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Porter's Five Forces Model
2.2.1. Threat of New Entrants
2.2.2. Threat of Substitute
2.2.3. Bargaining Power of Buyers
2.2.4. Bargaining Power of Suppliers
2.2.5. Threat of Competitive Rivalry
2.3. Key Factors Outlook
2.4. Attributes of Big Data in Healthcare
2.5. Key Insight
2.6. Market Attractiveness Index
2.7. Regulatory Framework
2.8. Market Drivers
2.8.1. Surge in Population Health Analytics Demand
2.8.2. Rising Adoption of Business Intelligence
2.8.3. Growing Usage of Big Data Technologies in the Healthcare Industry
2.9. Market Restraints
2.9.1. Data Security and Privacy Management Concern
2.9.2. Lack of Skilled Professionals
2.10. Market Opportunities
2.10.1. Rising Opportunities in the Cloud-Based Analytics Solutions
2.10.2. Emerging Digital Technologies Such As Telehealth
2.11. Market Challenges
2.11.1. Rise in Data Breaches and Medical Identity Theft Cases
2.11.2. Continued Usage of Prevailing Analytics Tools
3. Healthcare Analytics Market Outlook- by Component Type
4. Healthcare Analytics Market Outlook - by Delivery Mode
5. Healthcare Analytics Market Outlook - by Analytics Type
5.1. Descriptive Analytics
5.2. Predictive Analytics
5.3. Prescriptive Analytics
5.4. Diagnostic Analytics
6. Healthcare Analytics Market Outlook - by Application
6.1. Clinical Analytics
6.1.1. Clinical Decision Support
6.1.2. Quality Improvement and Clinical Benchmarking
6.1.3. Regulatory Reporting and Compliance
6.1.4. Comparative Analytics/Comparative Effectiveness
6.1.5. Precision Health
6.2. Financial Analytics
6.2.1. Revenue Cycle Management (Rcm)
6.2.2. Claims Analytics
6.2.3. Payment Integrity and Fraud, Waste and Abuse (Fwa)
6.2.4. Risk Management Analytics
6.3. Operational and Administrative Analytics
6.3.1. Workforce Analytics
6.3.2. Supply Chain Analytics
6.3.3. Strategic Analytics
6.4. Population Health Analytics
7. Healthcare Analytics Market Outlook - by End-Users
7.1.1. Employers and Private Exchanges
7.1.2. Government Agencies
7.1.3. Private Insurance Companies
7.2.1. Hospitals, Physician Practices and Idns
7.2.2. Post-Acute Care Organizations
7.2.3. Ambulatory Settings
7.3. Acos, Hies, Mcos and Tpas
8. Healthcare Analytics Market - Regional Outlook
9. Company Profiles
9.1. 3M Company
9.2. Allscripts Healthcare Solutions, Inc.
9.3. Elsevier B.V.
9.4. Health Catalyst
9.5. McKesson Corp.
9.6. Cerner Corp.
9.8. Optum, Inc.
9.9. IBM Corp.
9.10. SAS Institute, Inc.
9.11. Oracle Corporation
9.12. Verisk Analytics
9.13. Information Builders, Inc.
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