Healthcare Analytics: Technologies and Global Markets

Report Highlights

The global market for healthcare analytics reached $4.8 billion in 2014. This market is forecasted to grow at a compound annual growth rate (CAGR) of 24.0% to reach nearly $16.9 billion in 2020 from nearly $5.8 billion in 2015.

Report Includes

• An overview of the global markets for healthcare analytics.
• Analyses of global market trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020.
• A look at how healthcare analytics utilizes systematic data from clinical and business fronts to arrive at insights which are developed with the help of statistical, contextual, quantitative, predictive, and cognitive spectrums.
• Evaluation of factors driving the market such as the introduction of federal healthcare policies, increased focus on data collection and analysis for better customer service, progress in clinical outcomes, rapid technological advances and the emergence of social media.
• Analysis of growth inhibitors such as data security issues, patient data confidentiality, cultural barriers to IT adoption, and lack of manpower with cross-functional analytical skills.
• A look at the role different participants in the industry play including the government, insurers, medical staff, physicians and others.

SCOPE OF REPORT

This research report categorizes the market for healthcare analytics into three types of applications: clinical analytics, business analytics and other analytics.

Clinical analytics is segmented as follows: 

• Performance measurement.
• Regulatory reporting.
• Compliance and transparency.
• Provider performance.
• Quality improvement.
• Clinical benchmarking.
• Clinical decision support (CDS).
• Population health management.
• Public health surveillance.

 Business analytics is segmented as follows: 

• Financial analytics
  • Claim analytics.
  • Revenue management.
  • Risk management analytics.
• Operational analytics.
  • Supply chain management.
  • Human resources.
  • Strategic analytics.

 “Other” analytics include: 

• Tools used for research results analysis.
• Other analytics function.

The market for healthcare analytics is segmented by end user as follows: 

• Payers.
  • Government.
  • Private.
• Providers.
  • Hospitals.
  • Medical groups.
  • Physician practices.
  • Others.

The following geographic markets are analyzed: 

• United States.
• Europe.
• Asia.
• Rest of the world (ROW). 

The analysis includes the following types of delivery modes: 

• On-premises.
• Web-hosted.
• Cloud-based. 

Lastly, the market is analyzed by product and segmented as follows: 

• Hardware.
• Software.
• Services. 

INTENDED AUDIENCE

•  Healthcare analytic hardware, software and service providers.
• Healthcare analytics suppliers and distributors.
• Consulting firms.
• R&D companies.
• Physicians and hospitals.
• Government agencies.
• Healthcare agencies. 

ANALYST’S CREDENTIALS

Neha Maliwal, a graduate in biotechnology and a postgraduate in marketing and biotechnology at the University of Pune(India), is the author of this study and numerous others, including the analyses of related markets such as antibiotics, radiopharmaceuticals, radiotherapy, healthcare business process outsourcing (BPO) and biotechnology instrumentation.