Rise in demand to curtail healthcare expenditure, increased efficiency in the healthcare sector, and advent of precision and evidence-based medicine have boosted the growth of the global predictive analytics in healthcare market. The market across North America dominated in 2018, accounting for nearly half of the total market. On the other hand, the population health management segment is estimated to register the fastest CAGR of 22.1% during the forecast period.
According to the report published by Allied Market Research, the global predictive analytics in healthcare market was pegged at $2.21 billion in 2018 and is projected to garner $8.46 billion by 2025, registering a CAGR of 21.2% from 2018 to 2025.
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Rise in demand to curtail healthcare expenditure, increased efficiency in the healthcare sector, and advent of precision and evidence-based medicine have boosted the growth of the global predictive analytics in healthcare market. However, lack of robust infrastructure for effective functionality and limited acceptance from healthcare professionals hamper the market growth. On the contrary, growing importance of healthcare in developing economies is expected to create lucrative opportunities in the near future.
The global predictive analytics in healthcare market is divided on the basis of application, component, end user, and geography. Based on application, the market is segmented into operations management, financial data analytics, population health, and clinical. The financial analytics segment dominated the market in 2018, contributing nearly two-fifths of the market. However, the population health management segment is estimated to register the fastest CAGR of 22.1% during the forecast period.
Based on component, the market is divided into software, hardware, and service. The services segment held the largest share in 2018, accounting for nearly half of the market. However, the software segment is estimated to manifest the fastest CAGR of 21.8% during the forecast period.
On the basis of end user, the market is bifurcated into healthcare payer, healthcare provider, and others. The healthcare payers segment held the lion’s share in 2018, contributing nearly half of the market period. However, the healthcare providers segment is projected to portray the fastest CAGR of 21.7% through 2025.
The global predictive analytics in healthcare market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2018, accounting for nearly half of the total market. However, the market across Asia-Pacific region is estimated to register the fastest CAGR of 25.6% during the forecast period.
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The market report includes an in-depth analysis of the major market players such as Cerner Corporation, Allscripts Healthcare Solutions Inc., Information Builders Inc., IBM Corporation, Optum Inc., MedeAnalytics, Inc., SAS Institute, Inc., Oracle Corporation, Microsoft Corporation, and Verisk Analytics.
Key Findings of the Predictive Analytics in Healthcare Market:
- Based on application, the clinical segment is projected to grow at the highest rate during the analysis period.
- North America dominated the market in 2017, and is projected to continue its dominance in future.
- China is expected to grow at the highest rate in Asia-Pacific during the forecast period.
- Based on component, the service segment was the largest contributor in 2017.
- Based on end user, the healthcare provider segment is expected to witness lucrative growth opportunities during the forecast period.
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Report Attribute |
Details |
| Market size available for years | 2018 – 2025 |
| Base year considered | 2019 |
| Forecast period | 2019 – 2025 |
| Forecast units | Value (USD) |
| Segments covered | Application, Component and End-User |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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