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

The Healthcare Descriptive Analysis market is segmented By Application (Clinical, Financial, Administrative, and Research Data Analytics), By Component, By Deployment, By End-User, and Geography

Market Snapshot

Healthcare Descriptive Analysis Market - 4
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 27 %

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Market Overview

Increasing need to reduce healthcare expenditure, including cost associated with medical product flaws and hospital workflow inefficiencies, is anticipated to increase the usage of big data in the healthcare sector.

The digitalization of healthcare data is also one of the primary drivers of healthcare analytics. According to Intel, approximately more than 80.0% of the healthcare organizations in the U.S. have adopted Electronic Medical Records (EMR) systems. These systems collect a lot of data, which can be analyzed using various types of healthcare analytics to develop personalized medicine.

Advanced methods such as predictive analytics are widely used in government organizations such as healthcare financing systems primarily to avoid frauds in payments. For instance, in 2011, the Centers of Medicare and Medicaid Services (CMS) reported that under its Fraud Prevention System (FPS), predictive analytics helped in saving USD 1.5 billion through improper payments. Moreover, the CMS is developing next generation predictive analytics, which is expected to boost the usage of predictive analytics.

Scope of the Report

Analytics has had a significant impact on healthcare business. It refers to the analysis of data collected regarding patient’s behavior and diagnoses, clinical data and other healthcare activities. The data is usually collected from electronic health records and are further used to make informed clinical and business decisions. It also increases patient experience, and provides real-time data.

By Application
Clinical Data Analytics
Financial Data Analytics
Administrative Data Analytics
Research Data Analytics
By Component
Software
Hardware
Services
By Deployment
On-Premise
Web-based
Cloud based
By End-user
Private organization
Hospitals
Physicians
Clinics
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
UK
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

Financial Data Analytics Segment Expected to Dominate the Market in the Forecast Years

By application, the market has been segmented into clinical, financial, administrative, and research data analytics. The Financial Data Analytics segment is expected to register significant growth during the forecast period due to the technologically advanced solutions by healthcare providers and increased focus of payers on the early detection of fraud and reducing preventable costs.

Healthcare Descriptive Analysis Market tren 1.png

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North America is expected to dominate the Healthcare Descriptive Analysis Market

North America is expected to dominate the market followed by Europe. Factors, such as growing federal healthcare mandates to curb rising healthcare costs and provide quality care; increasing regulatory requirements; growing EHR adoption; and rising government initiatives focusing on personalized medicine, population health management, and value-based reimbursements are expected to drive market growth in North America.

Healthcare Descriptive Analysis Market geo.png

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Competitive Landscape

The Healthcare Descriptive Analysis market is moderately competitive and many of the global players are into the market. For instance - IBM, Inovalon, Cerner Corporation, Oracle Corporation, McKesson Corporation, MedeAnalytics, Inc., Optum, Inc., Allscripts Healthcare Solutions, Inc., etc. are providing healthcare descriptive analysis products across the globe.

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 Need for Comprehensive Analytics

      2. 4.2.2 Integration of Big Data into Healthcare

    3. 4.3 Market Restraints

      1. 4.3.1 Data Privacy and Security Concerns

      2. 4.3.2 High Costs of Initial Investment

    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 Application

      1. 5.1.1 Clinical Data Analytics

      2. 5.1.2 Financial Data Analytics

      3. 5.1.3 Administrative Data Analytics

      4. 5.1.4 Research Data Analytics

    2. 5.2 By Component

      1. 5.2.1 Software

      2. 5.2.2 Hardware

      3. 5.2.3 Services

    3. 5.3 By Deployment

      1. 5.3.1 On-Premise

      2. 5.3.2 Web-based

      3. 5.3.3 Cloud based

    4. 5.4 By End-user

      1. 5.4.1 Private organization

        1. 5.4.1.1 Hospitals

        2. 5.4.1.2 Physicians

        3. 5.4.1.3 Clinics

        4. 5.4.1.4 Others

    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 UK

        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 IBM

      2. 6.1.2 Allscripts Healthcare Solutions, Inc

      3. 6.1.3 Cerner Corporation

      4. 6.1.4 Inovalon

      5. 6.1.5 McKesson Corporation

      6. 6.1.6 MedeAnalytics, Inc.

      7. 6.1.7 Optum

      8. 6.1.8 Oracle Corporation

    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 Descriptive Analysis Market market is studied from 2018 - 2026.

The Healthcare Descriptive Analysis Market is growing at a CAGR of 27% over the next 5 years.

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

North America holds highest share in 2020.

IBM, Cerner Corporation, Oracle Corporation, McKesson Corporation, MedeAnalytics, Inc. are the major companies operating in Healthcare Descriptive Analysis Market.

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