Global Healthcare Operational Analytics Services Market, By Type (Prescriptive Analytics, Predictive Analytics, Descriptive Analytics), Component (Services, Software, Hardware), Delivery (On-Demand, Cloud), End User (Payer, Hospital) – Industry Trends and Forecast to 2029
Market Analysis and Size
Analysis in the field of healthcare focuses on a variety of topics, including hospital management, patient records, diagnostics, daily costs, and others. The area of healthcare analytics includes both macro and micro levels of the healthcare industry. All the analyses are being brought together by healthcare analytics into one overarching analysis. Healthcare analytics unifies patient engagement, strategic planning, revenue cycle management, hospital management, core administration, electronic health records, patient monitoring systems, and precision medicine.
Data Bridge Market Research analyses that the healthcare operational analytics services market which was USD 18.32 billion in 2021, would rocket up to USD 37.32 billion by 2029, and is expected to undergo a CAGR of 9.30% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Prescriptive Analytics, Predictive Analytics, Descriptive Analytics), Component (Services, Software, Hardware), Delivery (On-Demand, Cloud), End User (Payer, Hospital)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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IBM (U.S.), Wipro (India), Allscripts Healthcare, LLC (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.), Inovalon (U.S.), McKesson Corporation (U.S.), MEDEANALYTICS, INC. (U.S.), Optum, Inc. (U.S.), Oracle (U.S.), SAS Institute Inc. (U.S.), ExlService Holdings, Inc. (U.S.), CitiusTech Inc. (U.S.), IQVIA (U.S.), GENERAL ELECTRIC (U.S.)
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Market Opportunities
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Market Definition
Clinical data analytics, a subfield of analysis that provides insights on both macro and micro levels into hospital administration, patient records, diagnostics, and other areas, is another name for healthcare analytics. It aids in the provision of real-time data that can assist in determining the path of the patient's future therapy.
Healthcare Operational Analytics Services Market Dynamics
Drivers
- Government programmes to boost EHR
The market for healthcare operational analytics services is being driven by a number of important factors, including increasing pressure to reduce healthcare spending and improve patient outcomes, a growing emphasis on real-world evidence, and the use of big data in the industry. Adoption is the key factor accelerating market growth. In the forecast period of 2022–2029, increasing patient registries, the use of analytics in precision and personalised medicine, and a growing focus on value-based medicine will all help to open up new prospects for the market for healthcare operational analytics services.
- Research and development activities
Technology companies such as IBM, Oracle, and others are investing in the expansion of mHealth and online healthcare treatment. Likewise, the government is funding research and development to boost the global healthcare operational analytics services market.
- Numerous new opportunities
Numerous new opportunities are likely to arise as a result of the development of technologies like PaaS. PaaS makes high-level programming easier, and this is driving the industry demand.
Opportunities
In the forecast period of 2022 to 2029, the application of analytics in precision and personalised medicine as well as cloud-based analytics offers lucrative potential to market participants. The future growth rate of the market for healthcare operational analytics services will also be further accelerated by the increased emphasis on value-based medicine and the rise of augmented analytics.
Restraints/Challenges
The market for healthcare operational analytics services will face additional challenges over the forecast period due to factors such as increased analytics solution costs, data privacy and theft concerns, and a lack of experienced personnel.
This healthcare operational analytics services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare operational analytics services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Healthcare Operational Analytics Services Market
The COVID-19 pandemic significantly affected both the global population and the healthcare sector. Big data's significance in the healthcare sector has increased as a result of the epidemic. The development of prediction models for predicting the appearance of following waves of COVID-19 infection makes use of predictive and prescriptive analytics. Operational analytics are very helpful in managing patient data and COVID-19 bed allocation in ICU units.
Global Healthcare Operational Analytics Services Market Scope
The healthcare operational analytics services market is segmented on the basis of type, component, delivery and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Prescriptive Analytics
- Predictive Analytics
- Descriptive Analytics
Component
- Services
- Software
- Hardware
Delivery
- On-Demand
- On Premise
End User
- Payer
- Hospital
Healthcare Operational Analytics Services Market Regional Analysis/Insights
The healthcare operational analytics services market is analysed and market size insights and trends are provided by country, type, component, delivery and end-user as referenced above.
The countries covered in the healthcare operational analytics services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare operational analytics services market because of the region's geriatric population and rising prevalence of chronic diseases.
Asia-Pacific (APAC) is expected to grow significantly between 2022 and 2029 as a result of the region's adoption of advanced analytical solutions..
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Healthcare Operational Analytics Services Market Share Analysis
The healthcare operational analytics services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare operational analytics services market.
Some of the major players operating in the healthcare operational analytics services market are:
- IBM (U.S.)
- Wipro (India)
- Allscripts Healthcare, LLC (U.S.)
- Cerner Corporation (U.S.)
- Health Catalyst (U.S.)
- Inovalon (U.S.)
- McKesson Corporation (U.S.)
- MEDEANALYTICS, INC. (U.S.)
- Optum, Inc. (U.S.)
- Oracle (U.S.)
- SAS Institute Inc. (U.S.)
- ExlService Holdings, Inc. (U.S.)
- CitiusTech Inc. (U.S.)
- IQVIA (U.S.)
- GENERAL ELECTRIC (U.S.)
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