Dublin, Oct. 31, 2024 (GLOBE NEWSWIRE) -- The "Healthcare Analytics Market by Type (Predictive, Diagnostic), Application (Claim, RCM, Fraud, Precision Health, RWE, Imaging, Supply Chain, Workforce, Population Health), End-user (Payer, Hospital, ACO, ASC, Govt, Clinic), & Region: Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Healthcare analytics market is projected to reach USD 133.19 billion by 2029 from USD 44.83 billion in 2024, at a CAGR of 24.3 % from 2024 to 2029.
The widespread adoption of Electronic Health Records (EHR) is accelerating the growth of the healthcare analytics market. In North America, approximately 78% of office-based physicians and 96% of non-federal acute care hospitals use EHR systems, which are supported by regulatory incentives such as the HITECH Act. Europe has varying adoption rates, with the Netherlands at 97% and an average of 81% across the continent, indicating a high potential for analytics integration. Increased adoption of EHRs improves data accessibility and drives the demand for advanced analytics solutions.
Merative (US), Optum, Inc. (US), SAS Institute Inc. (US), Oracle (US), and Citiustech Inc. (US) are some of the key players in the healthcare analytics market. The study includes an in-depth competitive analysis of these key players in the healthcare analytics market, with their company profiles, recent developments, and key market strategies.
Healthcare analytics, clinical analytics segment to witness the highest growth during the forecast period
Based on application, the healthcare analytics market is segmented into financial analytics, clinical analytics, operations & administrative analytics and population health analytics. The clinical analytics segment held the largest market share in 2023. Value-Based Care, technological advancements, and improved patient outcomes drive clinical analytics growth by focusing on outcome-based performance, optimizing costs, and enabling personalized, data-driven care through AI and EHR systems. This enhances care quality and efficiency, boosting the healthcare analytics market.
APAC estimated to register the highest CAGR during the forecast period
In this report, the healthcare analytics market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The healthcare analytics market in APAC is projected to register the highest CAGR rate during the forecast period. The APAC healthcare analytics market is growing due to affordable medical treatments, such as average cost of bypass surgery in APAC region is approximately USD 4000, compared to USD 30,000 to USD 200,000 in the US. Moreover, government support for medical tourism, healthcare infrastructure investment, IT expansion, and a growing aging population with chronic diseases collectively strengthen the region's position in global healthcare.
Research Coverage
This research report categorizes the healthcare analytics market by component (Services, Software), by type (Descriptive analytics, Predictive analytics, Prescriptive analytics, Diagnostic analytics), by application (Financial analytics, Clinical analytics, Operations & Administration analytics, Population Health analytics), by end-user (Payers, Providers, Pharmaceutical & Medical device supply chain) and by region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa).
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the healthcare analytics market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the healthcare analytics market. Competitive analysis of upcoming startups in the healthcare analytics market ecosystem is covered in this report.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 411 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $44.83 Billion |
| Forecasted Market Value (USD) by 2029 | $133.19 Billion |
| Compound Annual Growth Rate | 24.3% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Favorable Government Initiatives for Electronic Health Record Adoption
- Growing Venture Capital Investments in Startups
- Need to Reduce Healthcare Costs
- Increasing Focus on Real-World Evidence
- Rise of Telemedicine and Remote Patient Monitoring
- Growing Focus on Regulatory Compliance
- Restraints
- High Cost of Analytics Solutions
- Growing Concerns About Data Breach
- Opportunities
- Increasing Focus on Value-based Medicines
- Growing Use of Analytics in Healthcare
- Rising Number of Patient Registries
- Emergence of Social Media and Digital Health Technologies
- Challenges
- Concerns Regarding Inaccurate and Inconsistent Data
- Reluctance to Adopt Healthcare Analytics Solutions in Developing Countries
- Lack of Maintenance of Medical Records
- Shortage of Skilled Personnel
Industry Trends
- Increasing Partnerships and Collaborations Among Market Players
- Shift of Risk Burden from Payers to Providers
- Growing Adoption of Cloud-based IT Solutions
Analysis Included in the Report
- Ecosystem Analysis
- Value Chain Analysis
- Technology Analysis
- Regulatory Landscape
- Pricing Analysis
- Patent Analysis
- Key Stakeholders and Buying Criteria
- End-user Analysis
- Key Conferences and Events, 2024-2025
- Case Study Analysis
- Business Model Analysis
- Investment and Funding Scenario
Companies Featured
- Merative
- SAS Institute Inc.
- Optum, Inc.
- Oracle
- Veradigm LLC
- Exlservice Holdings, Inc.
- Citiustech Inc.
- Health Catalyst
- CVS Health
- Inovalon
- McKesson Corporation
- Medeanalytics, Inc.
- Cotiviti, Inc.
- Apixio, Inc.
- Enlitic
- Komodo Health, Inc.
- Healthec, LLC
- Iqvia
- Wipro
- Arcadia Solutions, LLC
- Evidation Health, Inc.
- Healthcorum
- Aetion, Inc.
- Tredence. Inc.
- Sisense Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/9c80as
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