The report "Healthcare Analytics Market by Type (Predictive, Prescriptive, Cognitive) Application (Clinical, RCM, Claim, Fraud, Waste, Supply Chain, PHM) Component (Service, Software) Delivery (On-demand, Cloud) End User (Payer, Hospital) - Global Forecast to 2024.
The healthcare analytics market is expected to reach USD 50.5 billion by 2024 from USD 14.0 billion in 2019, at a CAGR of 28.3% during the forecast period.
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The growth of this market is mainly driven by the implementation of government initiatives to increase EHR adoption, growing adoption of data-driven decision-making, growing pressure to curb healthcare spending and improve patient outcomes, the emergence of big data in healthcare, and the increasing number of patient registries.
- In August 2018, Verscend Technology (US) acquired Cotiviti Holdings, Inc. (US), a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry.
- In March 2018, Verscend Technology (US) acquired General Dynamics (US) to add the latter’s solutions for tracking healthcare fraud, waste, and abuse (FWA) to its portfolio. This acquisition also enabled Verscend to strengthen its payer quality analytics and reporting solutions.
- In July 2018, Health Catalyst (US) acquired Medicity, a PHM company offering solutions for HIEs, business intelligence, and provider and patient engagement.
The Segmentations and Market Data Break Down are highlighted below:
The Study Explore the Product Types of Global Healthcare Analytics Market: Predictive, Prescriptive, and Cognitive
Key Applications/end-users of Global Healthcare Analytics Market: Clinical, RCM, Claim, Fraud, Waste, Supply Chain, PHM
Component: Service, Software
Delivery: On-demand, Cloud
End User: Payer, Hospital
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Key Market Players
The healthcare analytics market is highly competitive in nature, with several big as well as emerging players. Prominent players in this market include IBM Corporation (US), Optum, Inc. (US), Cerner Corporation (US), SAS Institute, Inc. (US), Allscripts Health Solutions (US), McKesson Corporation (US), MedeAnalytics, Inc. (US), Inovalon (US), Oracle Corporation (US), Health Catalyst (US), SCIO Health Analytics (US), Verscend Technologies, Inc. (US), CitiusTech, Inc. (US), Wipro Limited (India), and VitreosHealth (US).
Key Questions addressed by the report
- Where will all these developments take the industry in the medium to long-term?
- What types of annual and multi-year partnerships are healthcare analytics companies exploring?
- Which are the key players in the market, and how intense is the competition?
- Which are the recent contracts and agreements key players have signed?
- What are the recent trends affecting healthcare analytics solution manufacturers and independent service organizations?
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