Healthcare BI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is segmented by Component, Mode of Delivery, Application, End-user and Geography

Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 13 %

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Market Overview

The healthcare BI market will show rapid growth due to the implementation of government initiatives to increase EHR adoption, increasing number of patient registries and the emergence of big data in the healthcare industry.

Healthcare decision-makers are increasingly recognizing the potential of patient data for business intelligence. The patient data if processed using business intelligence software can help to improve services for clinical performance, patient management, disease management, and cost and waste reduction.

The government regulations in several countries such as the US and Europe are boosting the uptake of healthcare BI platforms. For example, according to the Affordable Care Act in the U.S. that came into effect in 2010, the healthcare industry needs to replace outdated healthcare platforms with newer ones. Due to such amends, healthcare establishments are compelled to adopt advanced healthcare BI platforms. However, reforms in government policies and efforts to upgrade healthcare infrastructure is likely to fuel the growth of healthcare BI platform market in emerging economies in the near future.

Scope of the Report

As per the scope of the report, healthcare business intelligence is the process by which large scale data from the massive healthcare industry can be collected and refined into actionable insights. Healthcare BI aggregates and analyzes different types of healthcare data, including such traditional records as medical history and financial data, along with unstructured data gathered from around the web and the internet of medical things. 

By Component
Software
Services
By Mode of Delivery
On-Premise Model
Hybrid Model
Cloud-Based Model
By Application
Financial Analysis
Clinical Data Analysis
Patient Care Analysis
Others
By End User
Payers
Healthcare Providers
Other End-users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Cloud-Based Model is Expected to be the Fastest Growing Segment Under Mode of Delivery in the Healthcare BI Market

The cloud-based delivery model has found to be the fastest growing segment as companies are increasingly adopting cloud-based business intelligence tools, such as Customer Relationship Management (CRM) applications by salesforce, patient engagement CRM and others. This is due to the properties such as agility and accessibility of cloud-based tools. In addition, they are cost-effective, user-friendly technologies, and has a higher acceptance rate, therefore all these factors are contributing to the significant share of the segment.

Increasing adoption of cloud-based models coupled with the high dependency of healthcare on digital technology to operate functions of a complex healthcare system is further boosting the market growth.

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North America is Found Leading the Healthcare BI Market

North America is found dominating the global market due to the increasing implementation of healthcare BI solutions and services by the providers to offer enhanced patient care and there is also presence of large manufacturing hubs. Moreover, constantly upgrading healthcare and IT infrastructure along with increased adoption of cloud computing is contributing significantly to the market growth.

Additionally, the high acceptance rate of advanced technology and changing analytics protocols are anticipated to support the growth of the North American healthcare business intelligence (BI) market.

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Competitive Landscape

The market is moderately competitive in nature, with several big as well as emerging players. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. Oracle Corporation, Microsoft, Sisense Inc. are among few key players accounting for majority of the market share owing to their strong global footprint, extensive product portfolios, and increased focus on advancements in healthcare business intelligence solutions.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Implementation of Government Initiatives to Increase EHR Adoption

      2. 4.2.2 Increasing Number of Patient Registries

      3. 4.2.3 The emergence of Big Data in the Healthcare Industry

    3. 4.3 Market Restraints

      1. 4.3.1 Complexity of Systems

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Software

      2. 5.1.2 Services

    2. 5.2 By Mode of Delivery

      1. 5.2.1 On-Premise Model

      2. 5.2.2 Hybrid Model

      3. 5.2.3 Cloud-Based Model

    3. 5.3 By Application

      1. 5.3.1 Financial Analysis

      2. 5.3.2 Clinical Data Analysis

      3. 5.3.3 Patient Care Analysis

      4. 5.3.4 Others

    4. 5.4 By End User

      1. 5.4.1 Payers

      2. 5.4.2 Healthcare Providers

      3. 5.4.3 Other End-users

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle-East and Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle East and Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Microsoft Corporation

      2. 6.1.2 IBM Corporation

      3. 6.1.3 Oracle Corporation

      4. 6.1.4 SAP SE

      5. 6.1.5 SAS Institute Inc.

      6. 6.1.6 Tableau Software

      7. 6.1.7 MicroStrategy Incorporated

      8. 6.1.8 QlikTech International AB

      9. 6.1.9 Information Builders

      10. 6.1.10 Sisense Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Healthcare BI Market market is studied from 2018 - 2026.

The Healthcare BI Market is growing at a CAGR of 13% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, SAS Institute Inc. are the major companies operating in Healthcare BI Market.

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