Healthcare Analytics Market Trends, Analysis, and Growth Forecast (2024-2032) | IBM Corp., OptumHealth, Inc., Oracle Corp., Verisk Analytics, Inc.

Global Healthcare Analytics Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.

The global healthcare analytics market size was US$ 15.1 billion in 2021. The global healthcare analytics market is forecast to grow to US$ 169.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 29.1% during the forecast period from 2022 to 2030.

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Factors Influencing the Market
A significant amount of structured and unstructured data is being released in the healthcare industry as a result of the spread of digitalization, the use of advanced technologies like AI, IoT, and ML, and rising deployment of smart healthcare equipment and services. The growing use of technology will drive the demand for healthcare analytics during the forecast period.
The convenience of advanced technologies and the rising demand to eliminate manual paperwork will benefit the healthcare analytics market in the coming years. Apart from that, the growing prevalence of diseases and unhealthy diet habits will also escalate the growth of the healthcare analytics market in the coming years.
Growing efforts pertaining to advancements in the healthcare sector will also drive the demand for the healthcare analytics market during the analysis period. In addition to that, growing investments by government bodies and key players will be opportunistic for the healthcare analytics market during the study period.
On the flip side, a lack of IT professionals may limit the growth of the healthcare analytics market during the forecast period.

COVID-19 Impact Analysis
The COVID-19 pandemic has significantly triggered the growth of the healthcare analytics market. Healthcare bodies started relying on technology due to a shortage of workforce. Moreover, the risk of infection forced hospitals to deploy advanced systems and go paperless. As a result, it has been beneficial for the healthcare analytics market. Apart from that, governments also started funding the healthcare sector with the aim to offer improved services to the people. It has boosted the growth of the market. Apart from that, the massive patient pool across various affected countries also prompted the healthcare analytics market.

Regional Analysis
North America is forecast to emerge as the largest market for healthcare analytics in terms of region. The growth of this regional market is attributed to the rising federal healthcare mandates and increasing government and private investments. The region also records the early adoption of advanced technology, which will be opportunistic for the healthcare analytics market. Apart from that, rising EHR adoption and the growing trend of personalized medicine, population health management, and value-based reimbursements will all contribute to the growth of the healthcare analytics market during the study period.

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Competitors in the Market
• IBM Corp.
• OptumHealth, Inc.
• Oracle Corp.
• Verisk Analytics, Inc.
• MEDai, Inc.
• MedeAnalytics, Inc.
• McKesson Corp.
• Truven Health Analytics, Inc.
• Allscripts Healthcare Solutions, Inc.
• Cerner Corporation
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Healthcare Analytics industry experienced notable growth in its workforce. Starting in January, employment within the Healthcare Analytics sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Healthcare Analytics output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Healthcare Analytics output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Healthcare Analytics market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Healthcare Analytics market.

Market Segmentation
The global healthcare analytics market segmentation focuses on Component, Type, Application, Deployment, and Region.
By Component:
• Hardware
• Software
• Services

By Types:
• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
• Cognitive Analytics

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By Application:
• Clinical Analytics
• Financial Analytics
• Operational and Administrative Analytics
• Cognitive Analytics
By Deployment:
• On-premise
• Cloud
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
 Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
 Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Healthcare Analytics Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Healthcare Analytics Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Healthcare Analytics Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Healthcare Analytics Market Size (2024-2032)

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Key Questions Market Research and Analysis Report

• What is the current market size, both in terms of value and volume?
• What is the historical growth rate of the market, and what are the projected growth rates for the future?
• Who are the major players in the market, and what is their market share?
• What are the market trends and dynamics influencing the industry?
• What are the key drivers of market growth?
• What are the challenges and barriers faced by market participants?
• What are the emerging opportunities in the market?
• What is the competitive landscape of the market?
• What are the consumer preferences, behaviors, and buying patterns within the market?
• What is the market segmentation, and how are different market segments performing?
• What are the pricing trends and strategies in the market?
• What are the distribution channels and their effectiveness in reaching the target audience?
• What are the regulatory and legal factors impacting the market?

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