Pune, March 20, 2023 (GLOBE NEWSWIRE) -- The Healthcare Business Intelligence Market had a valuation of USD 7.27 billion in 2022, and it is projected to attain USD 20.32 billion by 2030, registering a compound annual growth rate (CAGR) of 13.7% during the forecast period spanning from 2023 to 2030, as per SNS Insider.
Market Report Scope
Healthcare Business Intelligence (BI) is an essential tool for healthcare providers who want to improve patient outcomes, reduce healthcare costs, and manage their resources more effectively. By analyzing patient data, providers can make informed decisions, develop targeted interventions, and ensure compliance with regulations, all of which can lead to better patient care and a more efficient healthcare system.
Market Analysis
Business Intelligence (BI) has revolutionized the way businesses operate in today's data-driven world. With the help of BI-enabled analytics graphs, organizations can analyze vast amounts of data to make informed decisions and drive growth. The healthcare business intelligence (BI) market has been witnessing a significant shift towards the adoption of cloud-based Business Intelligence (BI) tools such as Customer Relationship Management (CRM) applications, owing to their numerous benefits. The market is experiencing a surge in growth due to the agility and accessibility of cloud-based software, which has enabled hospitals, health providers, payers, and life sciences manufacturers to convert their data into insightful dashboards and graphs.
Key Company Profiles Listed in this Report Are:
Key Players are: Qlik, SAP SE, TIBCO Software, SAS Institute, Tableau Software, Yellowfin International Pty Ltd., IBM Corporation, Oracle Corporation, Microsoft Corporation, Information Builders, Micro Strategy.
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Healthcare Business Intelligence Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.27 Billion |
| Market Size by 2030 | US$ 20.32 Billion |
| CAGR | CAGR of 13.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segmentation | • By Component Type (Software, Services) • By Mode of Delivery (On-premise, Cloud-based, Hybrid) • By Application (Financial Analysis, Operational Analysis, Clinical Analysis, Patient Care) • By End-use (Payers, Healthcare Provider, Healthcare Manufacturers) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Impact of Recession on Healthcare Business Intelligence Market Growth
The impact of a recession on the healthcare BI market can vary depending on several factors, including the severity and duration of the recession, the specific needs and priorities of healthcare organizations, and the competitive landscape of the BI market. However, healthcare BI vendors who can adapt to changing market conditions and offer solutions that meet the evolving needs of healthcare organizations will be better positioned to thrive during a recession and beyond.
Key Regional Developments
North America is at the forefront of growing trend, accounting for the largest revenue share in the healthcare business intelligence (BI) market. This can be attributed to the increased adoption of BI solutions and services by healthcare providers in the region. These solutions are helping providers better manage patient data, track key performance indicators, and identify trends that can inform better decision-making. As healthcare providers look for ways to improve patient outcomes while reducing costs, BI solutions and services will continue to play a crucial role in achieving these goals.
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Key Takeaway from Healthcare Business Intelligence (BI) Market Study
- The cloud-based delivery mode segment has held the largest share in the healthcare BI market due to its numerous benefits. With cloud-based BI, healthcare providers can access their data from anywhere, at any time, using any device with internet access.
- The healthcare payers segment continues dominance over the market. With the increased need to optimize provider networks and reduce operational costs, healthcare payers are relying on BI tools to make informed decisions.
Recent Developments Related to Healthcare Business Intelligence (BI) Market
- Diamond Trust Bank (DTB) and Mastercard have recently signed an agreement to enhance payment solutions for fintech companies in Kenya. The partnership aims to drive financial inclusion by offering innovative payment options to businesses and consumers, particularly those in remote and underserved areas. Through the partnership, DTB will leverage Mastercard's advanced technology and global network to enable fintech companies to offer convenient payment solutions to their customers.
- Experity, a leading urgent care software provider, has announced the launch of a new business intelligence module that aims to provide urgent care clinics with comprehensive and holistic practice data. This new module is set to empower urgent care providers with valuable insights and analytics that can help them make informed decisions and drive growth.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Healthcare Business Intelligence (BI) Market Segmentation, By Component Type
9. Healthcare Business Intelligence (BI) Market Segmentation, By Mode Of Delivery
10. Healthcare Business Intelligence (BI) Market Segmentation, By Application
11. Healthcare Business Intelligence (BI) Market Segmentation, By End-Use
12. Regional Analysis
13. Company Profiles
14. Competitive Benchmark
15. Conclusion
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