Health Care Predictive Analytics Market: Global Industry Analysis & Forecast 2022-2029

Health Care Predictive Analytics Market size is expected to reach US$ 64.88 Bn. by year 2029 at a CAGR of 29% during the forecast period.

Predictive analytics is a branch of advanced data analytics which predicts the future events or activities utilizing data mining, modelling, statistics, and artificial intelligence technology.

The report covers the current estimated and forecasted data for the Global Health Care Predictive Analytics Market on a global and regional level. The report provides an in-depth analysis of the Health Care Predictive Analytics Market for the period 2022 – 2029, wherein 2021 is the base year and the period from 2022 to 2029 is the forecast period.

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Data for 2017- 2021 has been included as historical information. The study provides a detailed perspective on market growth, throughout the above forecast period in terms of revenue estimates (in US$ MN), across different geographies, which includes North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA) and Latin America (LATAM).

The report provides qualitative and quantitative insights on the Health Care Predictive Analytics industry trends and detailed analysis of market size and growth rate of all segment in the market. The global Health Care Predictive Analytics market is segmented by Application, End Use and Region.
Health Care Predictive Analytics Market Dynamics
Healthcare predictive analysis helps to detect the early sign of patient deterioration in the ICU and general ward. Predictive analytics helps to find out patients risks to prevent hospital readmissions, and prevent avoidable downtime of medical equipment. As a result, the global health care predictive analytics have wide spread opportunities in the forecast period.
Predictive analytics promises healthy budget savings
The healthcare industry has moved from volume-based healthcare to value-based healthcare. Customers’ demand are growing for modern, quality, and regulated healthcare services. The pressure on healthcare providers to satisfy the patient services and facilities are creating novel opportunities for global market.
It improves operational management efficiency
The healthcare predictive analytics help in optimal management of patient-to-staff ratio and improves the accuracy of diagnosis, which in turn results in quality care.
Predictive analytics enables diagnosis and treatment to be more precise
Predictive analytics work at an individual level by connecting the personal health history, current medication, family health history, and previous illness and uncovering hidden insights in a couple of seconds. Predictive analytics help professionals in treatment of patients with the medication for a particular illness.
Health Care Predictive Analytics Market Segment Analysis
Predictive analytics technology has wide applications in operation management.
The growing applications of predictive analytics in system operation management processes like planning, finance organization and operational processes of a health care industry to better reach. The focus of operation management activities to improve the management in terms of productivity and earning more money, led to grow the global health care predictive analysis market in the forecast period. Operation management strategies and software facilities provide efficient insights for provision and delivery of health care services to patients and communities to save and improve the lives. This all scenario states that the operation management contributes the largest share xx% in the global health care predictive analytics market.
Healthcare Payers commended the largest market share xx% in the global health care predictive analytics market.
A 2019 survey of healthcare payer executives found that 87% of executives say that predictive analytics is important to the future of their business and 60% believe that predictive analytics can save their organization 15% of more in the next five years.

Most healthcare payers are using predictive analytics to reduce costs and improve patient satisfaction, and the survey found that these organizations are seeing results that align with the outcomes they’re targeting. As 42% percent of healthcare payers experience reduced cost and 39% payers improved patient satisfaction as actual results from implementing predictive analytics. This all factor clearly stated that healthcare payers commended the largest market share xx% of global health care predictive analytics market.
Health Care Predictive Analytics Market Regional Analysis
North America, being a pioneer in health-care IT technologies, dominated the global health-care predictive analytics market in 2021.

Major organizations and healthcare sector adopting to advanced technological solutions and services. Considering the benefits of healthcare IT solutions in lowering the cost of care delivery and enhancing the productivity of healthcare systems to manage growing number of patient populations. As a result, North America is turning towards the digital health care facilitates recently and held dominance in the global predictive analytics market.

Many government agencies use predictive analytics health care strategies in their country and therefore taking several initiatives to increase related awareness & organisation facilities. Thus, the increasing awareness about the value of predictive analytics in health care and its ongoing advancements through user convenience and government initiatives is enhancing the adoption of health predictive analytics solutions and related infrastructure across the globe, thereby providing growth of the global healthcare predictive analytics market.
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Global Health Care Predictive Analytics Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 8.46 Bn.


Forecast Period 2022 to 2029 CAGR:
29%
Market Size in 2029:
US $ 64.88 Bn.


 Segments Covered:
by Application
• Operations Management
• Financial Analytics
• Population Health
• Clinical


by End User
• Healthcare Payers
• Healthcare Providers
• Others


by Product
• Hardware
• Software and Services


by Mode of Delivery
• On-premise
• Cloud-based



Health Care Predictive Analytics Market Key Players
• IBM Corporation
• Optum Inc.
• Cerner Corporation
• SAS Institute Inc.
• Allscripts Health Solutions
• McKesson Corporation
• MedeAnalytics Inc.
• Inovalon
• Oracle Corporation
• Health Catalyst
• SCIO Health Analytics
• Verscend Technologies Inc.
• CitiusTech Inc.
• Wipro Limited
• VitreosHealth

Frequently Asked Questions:

1. Which region has the largest share in Global Health Care Predictive Analytics Market?
Ans: North America region holds the highest share in 2021.

2. What is the growth rate of Global Health Care Predictive Analytics Market?
Ans: The Global Health Care Predictive Analytics Market is growing at a CAGR of 29% during forecasting period 2022-2029.

3. What is scope of the Global Health Care Predictive Analytics market report?
Ans: Global Health Care Predictive Analytics Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Health Care Predictive Analytics market?
Ans: The important key players in the Global Health Care Predictive Analytics Market are –IBM Corporation, Optum Inc., Cerner Corporation, SAS Institute Inc., Allscripts Health Solutions, McKesson Corporation, MedeAnalytics Inc., Inovalon, Oracle Corporation, Health Catalyst, SCIO Health Analytics, Verscend Technologies Inc., CitiusTech Inc., Wipro Limited, VitreosHealth

5. What is the study period of this market?
Ans: The Global Health Care Predictive Analytics Market is studied from 2021 to 2029.