Healthcare Predictive Analytics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Healthcare Predictive Analytics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : September, 2021 | Healthcare IT

Report Digest


Global Healthcare Predictive Analytics Market: Snapshot

The mounting concern for optimizing healthcare costs among myriad healthcare providers and payers is a key factor boosting the demand for predictive analytics in the healthcare sector. The ever-growing need for boosting patient outcomes and improving the quality of care is a seminal trend boosting the evolution of healthcare productive analytics. In recent years, there is a surging interest among payer organizations and several healthcare institutions in using predictive tools for mediating hospital readmissions. This has especially gathered steam in monitoring a growing number of elderly patients and pediatric populations. The functionality of predictive discussions in simplifying admission scores for such patients has gained significance among researchers and clinicians. In addition, they are gaining adoption in the management of chronic diseases and various cancer types.

A number of hospitals are considering the role of healthcare predictive analytics in minimizing financial and reimbursement penalties. Furthermore, predictive analytics are being considered helpful in supporting evidence-based medicines and further in realizing the goal of standardized patient outcomes. To reap the full potential of various predictive analytics models within the healthcare industry, it is essential that the stakeholders furnish an integrated and comprehensive set of healthcare data. In addition, concerted efforts by decision makers to implement these solutions are important. Several factors need to be meticulously considered to leverage the full potential of predictive analytics in various healthcare settings. For instance, it is more prudent to develop predictive analytics for some specific clinical settings or patient needs than for a generic parameter. 

Global Healthcare Predictive Analytics Market: Overview

The global market for healthcare predictive analytics is estimated to grow at a progressive rate in the next few years. The rising pressure on consumers due to the high cost of medication and the increasing popularity of personalized medicines are expected to augment global healthcare predictive analytics market in the next few years. The research study throws light on the key factors and potential opportunities that are anticipated to encourage the growth of the global market in the coming years. In addition, an in-depth analysis of the competitive scenario has been included in the scope of the report.

Global Healthcare Predictive Analytics Market: Drivers and Restraints

Several developing nations across the globe are facing issues due to the tremendous rise in the cost of medication. As a result, governments worldwide are making notable efforts to offer quality and cost-effective services to consumers. This is expected to boost the demand for healthcare predictive analytics throughout the forecast period. In addition, the rising demand for personalization for patient care with the use of advanced technology is anticipated to encourage the growth of the overall market in the near future.

On the flip side, several privacy issues and data theft are predicted to restrict the growth of the global healthcare predictive analytics market in the next few years. In addition, the lack of skilled professionals is projected to hamper the growth of the global market in the near future. Nonetheless, the key players in the market are making efforts to overcome these challenges and create an awareness regarding the advantages of implementing healthcare predictive analytics. This is likely to supplement the growth of the market in the market in the coming years.

Global Healthcare Predictive Analytics Market: Region-wise Outlook

The global market for healthcare predictive analytics has been divided on the basis of geography into Europe, Latin America, North America, the Middle East and Africa, and Asia Pacific. According to the research study, in the last few years, North America held a key share of the global market and is expected to remain in the leading position across the forecast period. The significant contribution from the U.S. and the availability of skilled workforce are some of the major factors that are anticipated to encourage the growth of the North America healthcare predictive analytics market in the near future.

Furthermore, Asia Pacific is likely to witness a healthy growth in the coming few years, thanks to the economic development in this region. The rapid development of the information technology industry and the tremendously rising IT outsourcing are estimated to fuel the growth of Asia Pacific market in the forecast period. The research study has provided the forecast statistics related to the regional segments of the global healthcare predictive analytics market.

Key Players Mentioned in the Research Report are:

The study presents insights into the vendor analysis of the healthcare predictive analytics market across the globe. The company profiles of the prominent players in the global market have been listed in the research study to offer a strong understanding of the market. In addition, the business plans that are being used by these players have been discussed in order to guide the market players in making effective business decisions in the near future.

Some of the key players operating in the global healthcare predictive analytics market are Optum, Inc., Allscripts, Verisk Analytics, Inc., SAS, IBM, MedeAnalytics, Inc., McKesson Corporation, Oracle, and Cerner Corporation. A rise in the number of strategic collaborations and the rising focus on new product development are anticipated to supplement the growth of the global healthcare predictive analytics market in the next few years. Moreover, advancement in technology is another key factor propelling the global market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?