Predictive Analytics in Healthcare Market to Grow with a CAGR of 17.32% through 2029
Increasing
adoption of healthcare IT solutions is expected to drive the Global Predictive
Analytics in Healthcare Market growth in the forecast period, 2025-2029.
According to
TechSci Research report, “Predictive Analytics in Healthcare Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029”, the Global Predictive Analytics in Healthcare Market stood at USD
13.01 Billion in 2023 and is anticipated to grow with a CAGR of 17.32% in the
forecast period, 2025-2029. The growing adoption of healthcare IT solutions, including electronic health records (EHRs), telemedicine platforms, and digital health applications, is driving the integration of predictive analytics into healthcare operations. Healthcare organizations are employing predictive analytics to derive valuable insights from vast collections of clinical and operational data, enabling well-informed decision-making across the care spectrum. Through the incorporation of predictive analytics functionalities into their current IT infrastructures, healthcare providers can enhance clinical decision support, optimize care coordination, and bolster population health management.
Predictive analytics empowers healthcare organizations to access timely insights, facilitating swift interventions and proactive risk management. Ongoing technological advancements in artificial intelligence (AI), machine learning, and big data analytics are driving innovation in predictive analytics solutions tailored for healthcare applications. These advancements enable healthcare entities to harness predictive modeling, natural language processing (NLP), and advanced algorithms to extract actionable insights from complex healthcare datasets. By integrating AI-powered predictive analytics tools, healthcare providers can enhance clinical decision-making, automate routine tasks, and uncover hidden patterns within patient data. Additionally, the widespread adoption of cloud computing and edge computing technologies supports the scalability, accessibility, and interoperability of predictive analytics solutions, paving the way for their widespread adoption across diverse healthcare environments.
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"Global Predictive Analytics in Healthcare Market”
The Global Predictive
Analytics in the Healthcare market is segmented into application, component,
end user, deployment mode, regional distribution, and company.
Based on the end
user, healthcare providers segment emerged as the dominant segment in the
global Predictive Analytics in Healthcare market in 2023. One of the key drivers behind the dominance of the
Healthcare Providers segment is the growing emphasis on value-based care and
population health management initiatives. Healthcare providers are leveraging
predictive analytics to identify high-risk patients, predict adverse events,
and optimize care delivery processes to improve patient outcomes while reducing
costs. By integrating predictive analytics into clinical workflows, healthcare
providers can enhance care coordination, optimize resource allocation, and
deliver more personalized and proactive care to their patients. The increasing
availability of electronic health records (EHRs) and other digital health data
sources has facilitated the adoption of predictive analytics among healthcare
providers. These data sources provide rich repositories of patient information
that can be leveraged to train predictive models, generate actionable insights,
and drive clinical decision support.
Based on the
Deployment Mode, cloud segment emerged as the dominant segment in the global
Predictive Analytics in Healthcare market in 2023. Cloud-based
deployment offers scalability, flexibility, and cost-effectiveness, making it
an attractive option for healthcare organizations seeking to leverage
predictive analytics capabilities without the burden of managing on-premises
infrastructure. Cloud-based predictive analytics solutions allow healthcare
providers to access advanced analytics tools and capabilities through a
subscription-based model, eliminating the need for significant upfront
investments in hardware, software, and IT infrastructure. Furthermore,
cloud-based deployment enables healthcare organizations to overcome common
challenges associated with on-premises solutions, such as hardware limitations,
data storage constraints, and scalability issues.
North America
emerged as the dominant player in the Global Predictive Analytics in Healthcare
Market in 2023, holding the largest market share. North America boasts a highly
developed healthcare ecosystem characterized by advanced healthcare
infrastructure, robust regulatory frameworks, and widespread adoption of
electronic health records (EHRs) and other digital health technologies. These
factors create a conducive environment for the adoption and implementation of
predictive analytics solutions, enabling healthcare organizations to leverage
data-driven insights to improve patient outcomes, enhance clinical
decision-making, and optimize operational efficiency.
Major companies
operating in Global Predictive Analytics in Healthcare Market are:
- International
Business Machines Corporation
- Unitedhealth Group.
- Oracle Cerner
- Microsoft
Corporation
- Veradigm LLC
- Verisk Analytics,
Inc
- MedeAnalytics, Inc.
- Cloud Software
Group, Inc.
- SAS Institute, Inc.
- Health Catalyst
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“The global Predictive
Analytics in Healthcare market is poised for significant expansion in the
coming years. The demand for personalized medicine is fueling the adoption of
predictive analytics, enabling tailored treatment plans based on individual
patient characteristics. Moreover, the increasing adoption of healthcare IT
solutions, coupled with advancements in AI and big data analytics, is
facilitating the integration of predictive analytics into healthcare workflows,
driving operational efficiency and improving patient outcomes. Furthermore, the
shift towards value-based care models emphasizes the importance of data-driven
decision-making and population health management, further propelling the demand
for predictive analytics solutions.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Predictive
Analytics in Healthcare Market - Global Industry Size, Share, Trends,
Opportunity and Forecast, Segmented By Application (Clinical Decision &
Diagnosis Support (CDS), Risk Prediction & Scoring, Demand Forecast, Drug
Discovery, Disease & Cancer Detection, Fraud Detection, Others) , By
Component (Hardware, Software, Services), By End User (Healthcare Providers,
Healthcare Payers, Others), By Deployment Mode (On premises, Cloud), By Region,
By Competition, 2019-2029F”, has evaluated the future growth potential of Global
Predictive Analytics in Healthcare Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Predictive Analytics in Healthcare Market.
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