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Healthcare Analytics Market, Type (Prescriptive, Predictive, Diagnostic), Component (Hardware, Software, Services), Application (Financial, Clinical, Population Health Management), End- User (Payers, Providers, ACOS) - Global Market Trends & Forecasts upto 2023...


Healthcare Analytics Market, Type (Prescriptive, Predictive, Diagnostic), Component (Hardware, Software, Services), Application (Financial, Clinical, Population Health Management), End- User (Payers, Providers, ACOS) - Global Market Trends & Forecasts upto 2023

Report code: SDMRHE10592 | Industry: Healthcare | Published On: 3/27/2018


The healthcare analytics market is estimated projected to grow at a CAGR of 28.0 % to reach USD billion by 2023. High adoption rates of electronic health record systems coupled with the application of big data in healthcare and increasing investment expenditures in healthcare industry is also boosting the growth of healthcare analytics market. However, the lack of skilled IT professionals coupled with the penetrating data integrity issues are the major restraints of healthcare analytics market. In addition, the implementation and applications of electronic health records, focus on value-based medicines and growing adoption of cloud-based analytics serve to be the prime opportunities for this market.
The healthcare analytics market can be segmented on the basis of type, component, delivery mode, application, and end-user. On the basis of type, the healthcare analytics market can be segmented into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics. The descriptive analytics segment, on the basis of types of healthcare analytics market, is reported to have the largest market share, owing to the increasing supportive and favorable healthcare policies that are launched by the government, progressive outcomes of clinical processes and the positive impact of social media on the healthcare industry.
On the basis of components, the healthcare analytics market can further be segmented into services, software, and hardware. The services segment is further categorized as support services and business analytics services; whereas the software segment is further divided into standalone and integrated. Based on components of Healthcare analytics market, the services segment holds the largest market share accounting to the elevating need for business analytics services coupled with the advancements in technical healthcare analytics software. In addition, the emerging requirement of personalized and evidence-based medicine is also responsible for increasing the demand for service-based healthcare analytics software in the market.
On the basis of delivery mode, this market is further categorized as on-premise healthcare analytics and on-demand /cloud healthcare analytics. On the basis of the delivery model of healthcare analytics market, the on-demand healthcare analytics segment is expected to grow at a steady pace; accounting to the higher flexibility, upsurge need for self-driven analytics, and pay-as-you-go cost factor. Moreover, the lack of increasing capital investments in the healthcare sector is also responsible for fuelling the growth of this market.
On the basis of application, the market is fragmented into financial analytics, clinical analytics, operational and administrative analytics, and population health management/analytics. On the basis of applications of Healthcare Analytics market, operational and Administrative Services dominated this market in 2015, accounting to the elevated count of application including strategic Analytics, supply chain management and workforce. However, the financial applications are also expected to have an anticipated growth during the forecast, owing to the increasing adoption of Healthcare analytics in both governments as well as private healthcare departments.
Lastly, on the basis of end-users, the healthcare analytics market is segmented into payers, providers, ACOS, HIES, MCOS, and TPAS, and third-party business analytics service providers. On the basis of end users, the payers segments are expected to dominate this market during the forecast years, accounting to the involvement and application of these services quality improvement, population health management, and personalized care. However, the increasing efficiency in Healthcare sector coupled with the reduction in the unnecessary and unwanted expenditure is also responsible for dominating this segment.
Geographically, the market is divided into North America, Europe, Asia, and ROW. Geographically, North America dominates the Healthcare analytics market followed by Europe and Asia; accounting to the technological advancements in Healthcare services, implementation of regulatory clauses, and increasing government incentives that are focusing on the manufacturing and applications of personalized and customized medicines. However, the expensive nature of analytics software and services, increasing data integrity issues, the complexity of software and intensified competition may hamper the growth of Healthcare analytics market.
The key players operating in this industry are Cognizant, Health Catalyst, IBM, Mede Analytics, Inc., MedAssets, Inc., McKesson Corporation, Optum, Oracle, Inc., SAS Inc., Truven Health Analytics, and Verisk Health.

1  Introduction      
  1.1  Goal  &  Objective    
  1.2  Report  Coverage    
  1.3  Supply  Side  Data  Modelling  &  Methodology
  1.4  Demand  Side  Data  Modelling  &  Methodology
          
2  Executive  Summary      
          
3  Market  Outlook        
  3.1  Introduction    
  3.2  Current  &  Future  Outlook  
  3.3  DROC      
    3.3.1  Drivers    
      3.3.1.1  Demand  Drivers
      3.3.1.2  Supply  Drivers
    3.3.2  Restraints    
    3.3.3  Opportunities  
    3.3.4  Challenges  
  3.4  Market  Entry  Matrix    
  3.5  Market  Opportunity  Analysis  
  3.6  Market  Regulations    
  3.7  Pricing  Mix    
  3.8  Key  Customers    
  3.9  Value  Chain  &  Ecosystem  
          
4  Demand  Market  Analysis    
  4.1  Healthcare  Analytics  Market,  By  Type
    4.1.1  Drescriptive  Analytics
    4.1.2  Diagnostic  Analytics  
    4.1.3  Predictive  Analytics  
    4.1.4  Prescriptive  Analytics
          
          
5  Healthcare  Analytics  Market,  By  Component
  5.1  Services        
    5.1.1  Support  Services  
    5.1.2  Business  Analytics  Services
  5.2  Software        
    5.2.1  Standalone    
    5.2.2  Integrated  
  5.3  Hardware      
          
6  Healthcare  Analytics  Market,  By  Delivery  Model
  6.1  On-Premise  Healthcare  Analytics  
  6.2  On-Demand  /Cloud  Healthcare  Analytics
          
7  Healthcare  Analytics  Market,  By  Application
  7.1  Financial  Analytics      
    7.1.1  Claims  Processing  
    7.1.2  Revenue  Cycle  Management  (RCM)
    7.1.3  Payment  Integrity  and  Fraud,  Waste,  and  Abuse  (FWA)
    7.1.4  Risk  Adjustment  and  Risk  Assessment
    7.1.5  Reimbursement  modeling
    7.1.6  Others    
  7.2  Clinical  Analytics      
    10.2.1  Quality  Improvement  and  Clinical  Benchmarking
    10.2.2  Medical  Imaging  
    10.2.3  Clinical  Decision  Support
    10.2.4  Regulatory  Reporting,  Compliance  and  Transparency
    10.2.5  Comparative  Analytics/  Effectiveness
    10.2.6  Precision  Health  
    10.2.7  Provider  performance  and  clinical  benchmarking
    10.2.8  Others    
  7.3  Supply  Chain  Analytics  
  7.4  Workforce  Analytics    
  7.5  Operational  and  Administrative  Analytics  
    7.5.1  Strategic  Analytics  
    7.5.2  Enterprise  performance  management
    7.5.3  Clinical  program  performance
    7.5.4  Competitive  analysis  and  demand  forecasting
    7.5.5  Others    
  7.6  Population  Health  Management/analytics
          
8  Healthcare  Analytics  Market,  By  End  User    
  8.1  Payers        
    8.1.1  Private  Insurance  Companies
    8.1.2  Government  Agencies
    8.1.3  Employers  and  Private  Exchanges
  8.2  Providers        
    8.2.1  Hospitals,  Physician  Practices,  and  IDNS
    8.2.2  Post-Acute  Care  Organizations
    8.2.3  Ambulatory  Settings  
  8.3  ACOS,  HIES,  MCOS,  and  TPAS  
  8.3  Third  party  business  analytics  service  providers
          
9  Healthcare  Analytics  Market,  By  Region  
  9.1  North  America      
    9.1.1  US    
    9.1.2  Canada    
  9.2  Europe        
    9.2.1  Germany    
    9.2.2  France    
    9.2.3  U.K.    
    9.2.4  Spain      
    9.2.5  Rest  of  Europe  
  9.3  Asia  Pacific    
    9.3.1  Japan    
    9.3.2  China    
    9.3.3  India    
    9.3.4  Rest  of  Asia  
    9.3.5  South  Korea  
  9.4  Middle  East  &  Africa    
  9.5  South  America    
          
10  Supply  Market  Analysis    
  10.1  Strategic  Benchmarking  
  10.2  Market  Share  Analysis  
  10.3  Key  Players      
    10.3.1  Allscripts  Healthcare  Solutions  Inc.    
    10.3.2  IBM    
    10.3.3  McKesson  Corporation
    10.3.4  Cerner  Corporation  
    10.3.5  GE  Healthcare  Ltd.    
    10.3.6  Scio  Health  Analytics  
    10.3.7  Wipro    
    10.3.8  Vercend  Technologies  
    10.3.9  Citiustech    
    10.3.10  Vitreoshealth  
    10.3.11  Athenahealth  Inc    
    10.3.12  Medeanalytics  
    10.3.13  Optum    
    10.3.14  Oracle      
    10.3.15  Inovalon  &  Others  

SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach


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Secondary Research:
Our research methodology involves in-depth desk research using various secondary sources. Data is gathered from association/government publications/databases, company websites, press releases, annual reports/presentations/sec filings, technical papers, journals, research papers, magazines, conferences, tradeshows, and blogs.

Key Data Points through secondary research-
Macro-economic data points
Import Export data
Identification of major market trends across various applications
Primary understanding of the industry for both the regions
Competitors analysis for the production capacities, key production sites, competitive landscape
Key customers
Production Capacity
Pricing Scenario
Cost Margin Analysis

Key Data Points through primary research-
Major factors driving the market and its end application markets
Comparative analysis and customer analysis
Regional presence
Collaborations or tie-ups
Annual Production, and sales
Profit Margins
Average Selling Price

Data Triangulation:
Data triangulation is done using top down and bottom approaches. However, to develop accurate market sizing estimations, both the methodologies are used to accurately arrive at the market size. Insert Image
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