Healthcare Predictive Analytics Market Overview
Predictive analytics in healthcare can be defined as a subset of advanced analytics that is used to make predictions about unknown future events or activities that lead to decisions. Machine learning and artificial intelligence models are used in healthcare predictive analytic frameworks to find correlations across various data sources and make meaningful recommendations. The Global Healthcare Predictive Analytics market is expected to rise at a significant rate in the forthcoming years.
Patients and health care providers are increasingly using electronic health records to better manage details, which has decreased the overall costs related to manual work. This fact boosted the demand for predictive analytics in the health care industry. Eventually, it escalates the growth of the global Healthcare Predictive Analytics market. Additionally, sudden increases in drug prices are causing problems in developing countries all around the world. These countries' governments are taking initiatives to deliver high-quality, low-cost health care services. These factors are expected to boost the Healthcare Predictive Analytics market During the forecast period.
Furthermore, other key aspects such as increasing attention toward personalized patient care, growing awareness in the market, and developments in health care technologies led by increased health care spending are contributing more to the growth of the Health Care Predictive Analytics market.
On the downside, factors such as data insecurity, privacy issues, and lack of experienced professionals in the field of predictive analytics are hampering the growth of the Healthcare Predictive Analytics market.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Application, End-User, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Verisk Analytics, Inc., IBM, Optum, Inc., Allscripts, Cerner Corporation, SAS, MedeAnalytics, Inc., McKesson Corporation, and Oracle. |
Covid-19 Impact on Healthcare Predictive Analytics Market
In addition, the current Healthcare Predictive Analytics Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Healthcare Predictive Analytics Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Healthcare Predictive Analytics Market Segment Overview
According to applications, the Financial segment holds the maximum share in the Healthcare Predictive Analytics market. The predictive analysis in healthcare helped in fraud detection and prevention and also in revenue cycle management. Based on the End-User, the Payers segment is expected to hold the largest share in the market during the forecast period. The primary goal of healthcare predictive analytics is to provide "the correct treatment at the right price”. Demand management, developing an effective risk management program, detecting and preventing payment fraud, and improving health economic efficiency are some of the primary benefits of predictive analytics for payers.
Healthcare Predictive Analytics Market, By Application
· Financial
· Operations Management
· Population Health
· Clinical
Healthcare Predictive Analytics Market, By End-User
· Payers
· Providers
· Others
Healthcare Predictive Analytics Market Regional Overview
In terms of region, North America and Europe are the most prominent region for the Healthcare Predictive Analytics market. This is because of more systematic health care systems and policies in these regions. Similarly, the market in the Asia Pacific is projected to grow at considerable rate in the coming years. The growing population, increasing awareness, and surging investments in health care infrastructure, and growing need for managing large volumes of data are some key reasons that contribute towards the growth of the market in this region. In addition to this, many market players are focusing on the Asia Pacific to accelerate their business in forthcoming economic markets. This fact further support to market’s growth in this region.
Healthcare Predictive Analytics Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Healthcare Predictive Analytics Market Competitor overview
Some key developments and strategies adopted by manufacturers in Healthcare Predictive Analytics are highlighted below.
· In October 2021, Syneos Health® , the only fully integrated biopharmaceutical solutions organization, announced the acquisition of RxDataScience, a leading healthcare-focused data analytics, data management and artificial intelligence (AI) company. Together, Syneos Health and RxDataScience will offer biopharma customers technology-enabled, insights-powered solutions with the aim of accelerating performance across the product lifecycle – from lab to life.
Healthcare Predictive Analytics Market, Key Players
· Verisk Analytics, Inc.
· IBM
· Optum, Inc.
· Allscripts
· Cerner Corporation
· SAS
· MedeAnalytics, Inc.
· McKesson Corporation
· Oracle
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Healthcare Predictive Analytics market?
Increasing attention toward personalized patient care, growing awareness in the market, and developments in health care technologies led by increased health care spending are some significant factors that boost the growth of the Healthcare Predictive Analytics market.
Q2. What are the restraining factors for the Healthcare Predictive Analytics market?
Data insecurity, privacy issues, and lack of experienced professionals in the field of predictive analytics are anticipated to restrain the growth of the Healthcare Predictive Analytics Market.
Q3. Which Segments are covered in the Healthcare Predictive Analytics market report?
Application, End-User, and Region, these segments are covered in the Healthcare Predictive Analytics market report.
Q4. Which segment is projected to hold the largest share in the Healthcare Predictive Analytics Market. ?
The Financial segment is projected to hold the largest share in the Healthcare Predictive Analytics Market.
Q5. Which are the prominent players in the Healthcare Predictive Analytics Market?
Verisk Analytics, Inc., IBM, Optum, Inc., Allscripts, Cerner Corporation, SAS, MedeAnalytics, Inc., McKesson Corporation, and Oracle. are some key players in the Healthcare Predictive Analytics Market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Healthcare Predictive Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Application
- 5.2.1. Financial
- 5.2.2. Operations Management
- 5.2.3. Population Health
- 5.2.4. Clinical
- 5.3. Market Analysis, Insights and Forecast – By End-User
- 5.3.1. Payers
- 5.3.2. Providers
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Healthcare Predictive Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Application
- 6.2.1. Financial
- 6.2.2. Operations Management
- 6.2.3. Population Health
- 6.2.4. Clinical
- 6.3. Market Analysis, Insights and Forecast – By End-User
- 6.3.1. Payers
- 6.3.2. Providers
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Healthcare Predictive Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Application
- 7.2.1. Financial
- 7.2.2. Operations Management
- 7.2.3. Population Health
- 7.2.4. Clinical
- 7.3. Market Analysis, Insights and Forecast – By End-User
- 7.3.1. Payers
- 7.3.2. Providers
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Healthcare Predictive Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Application
- 8.2.1. Financial
- 8.2.2. Operations Management
- 8.2.3. Population Health
- 8.2.4. Clinical
- 8.3. Market Analysis, Insights and Forecast – By End-User
- 8.3.1. Payers
- 8.3.2. Providers
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Healthcare Predictive Analytics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Application
- 9.2.1. Financial
- 9.2.2. Operations Management
- 9.2.3. Population Health
- 9.2.4. Clinical
- 9.3. Market Analysis, Insights and Forecast – By End-User
- 9.3.1. Payers
- 9.3.2. Providers
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Verisk Analytics, Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. IBM
- 10.6. Optum, Inc.
- 10.7. Allscripts
- 10.8. Cerner Corporation
- 10.9. SAS
- 10.10. MedeAnalytics, Inc.
- 10.11. McKesson Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
