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Predictive Analytics in Healthcare Market - Allscripts Healthcare ,Cerner ,IBM ,Information Builders, MedeAnalytics, Optum, Oracle, SAS Institute, Microsoft, Verisk Analytics
The global predictive analytics in healthcare market was valued at $1,806 million in 2017, and is estimated to reach $8,464 million at a CAGR of 21.2% from 2018 to 2025.Predictive analytics finds a pattern in historical and transactional data and uses it to identify risks and opportunities for future. Based on the available descriptive data, predictive analytics uses different techniques, which include machine learning, statistical techniques, and predictive modelling to evaluate and determine the probable future. The transformation of healthcare industry along with the increase in amount of healthcare data has increased their focus to data integration and analytics in turn increasing the demand for predictive analytics in healthcare.
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Increase in efficiency in the healthcare sector, emergence of personalized and evidence-based medicine, and rise in demand to curtail healthcare expenditure by reducing unnecessary costs majorly drive the growth of the global predictive analytics in the healthcare market. However, lack of robust infrastructure for effective functionality and limited skilled IT professionals in healthcare are expected to restrain the market growth. The growth in importance of healthcare in emerging economies help open new avenues for the growth of the predictive analytics in healthcare market in the near future.
The global predictive analytics in healthcare market is segmented based on application, component, end user, and region. Based on application, it is divided into operations management, financial data analytics, population health management, and clinical. Based on component, the market is categorized into hardware, software, and service. Based on end user, the market is classified into healthcare payer, healthcare provider, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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