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

The market is segmented by Application, Product, Deployment (On-premise and Cloud-based), and Geography

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Market Snapshot

Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

>18 %

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Market Overview

Prescriptive analytics is the future of healthcare analytics. It goes beyond predicting future outcomes to suggest alternative options at hand and then demonstrates the implication of each option to make the decision-making process more rational, streamlined, and optimized. The major factors for the growth of the market include integration of big data in healthcare, growing need of increasing efficiency in healthcare sector, and increasing demand to curtail healthcare costs. To predict the future, we need data from the past as well as the present, and analyzing the data being generated at the same time makes this process complex and machine intensive. Additionally, unnecessary healthcare cost, can also be reduced by analytics. Hence, the usage of prescriptive analytics at various levels to curb unnecessary expenditures has been very helpful in improving the adoption rate for the technology, and the trend is expected to continue during the forecast period.

Scope of the Report

As per the scope of the report, Prescriptive analytics is a part of advanced analytics that is used for making an optimum decision by considering all the situation and available resources. These comprehensively analyze the data to determine the best possible outcome and recommend a course of action.

By Application
Clinical Data Analytics
Financial Data Analytics
Administrative Data Analytics
Research Data Analytics
By Product
Hardware
Software and Services
By Deployment
On-premise
Cloud-based
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 Segment is Expected to Show Better Growth in the Forecast Years

Based on Deployment, it is segmented into on-premise, and cloud-based. The cloud-based segment is expected to show better growth during the forecast period, owing to the Increasing adoption of cloud platforms, cost advantage, and availability. It maintains and analyzes the huge amount of data among various industries. The prescriptive analytics market is driven by the increasing need for real-time accessibility of structured and unstructured data to forecast outcomes for better decision making. In addition, an increasing rate of cyber-crimes resulted in an increasing need for crime detection and prevention, which is expected to fuel the market growth.

Healthcare Prescriptive Analytics Market 1

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North America Dominates the Healthcare Prescriptive Analytics Market

The healthcare infrastructure in the United States is experiencing positive trends in the prescriptive analytics domain, owing to factors such as increased internet penetration and technological advancements. Thus, the rising demand of advanced technologies such as Internet of Thing (IoT) and big data across various industries and organization is expected to enhance the growth of the studied market.

Healthcare Prescriptive Analytics Market 2

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Competitive Landscape

The global players in the healthcare prescriptive analytics market are – IBM, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation, Medeanalytics, Inc, Optum Inc, Oracle Corporation, SAS Institute Inc. and Verisk Analytics, Inc.

Healthcare Prescriptive Analytics Market - 2

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 Integration of Big Data in Healthcare

      2. 4.2.2 Growing Need of Increasing Efficiency in Healthcare Sector

      3. 4.2.3 Increasing Demand to Curtail Healthcare Costs

    3. 4.3 Market Restraints

      1. 4.3.1 Data Security and Privacy Concerns

      2. 4.3.2 Lack of Properly Trained IT Professionals in Healthcare

    4. 4.4 Porter's Five Forces 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 Product

      1. 5.2.1 Hardware

      2. 5.2.2 Software and Services

    3. 5.3 By Deployment

      1. 5.3.1 On-premise

      2. 5.3.2 Cloud-based

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Allscripts Healthcare Solutions

      2. 6.1.2 Cerner Corporation

      3. 6.1.3 IBM

      4. 6.1.4 Mckesson Corporation

      5. 6.1.5 Medeanalytics, Inc

      6. 6.1.6 Optum Inc

      7. 6.1.7 Oracle Corporation

      8. 6.1.8 SAS Institute Inc.

      9. 6.1.9 Verisk Analytics, 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 Prescriptive Analytics Market market is studied from 2018 - 2026.

The Healthcare Prescriptive Analytics Market is growing at a CAGR of >18% over the next 5 years.

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

North America holds highest share in 2020.

  • IBM
  • Allscripts Healthcare Solutions
  • Cerner Corporation
  • Mckesson Corporation
  • Oracle Corporation

Are the major companies operating in Healthcare Prescriptive Analytics Market.

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