Healthcare Predictive Analytics Market 2023 | Worth US$ 27.6 Billion by 2028

What is the Size of Healthcare Predictive Analytics Market ? :

The latest research study "Healthcare Predictive Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global healthcare predictive analytics market size reached US$ 7.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 27.6 Billion by 2028, exhibiting a growth rate (CAGR) of 22% during 2023-2028.

Healthcare predictive analytics refers to advanced software that automatically analyze data to improve the overall patient outcomes and provide more effective care. It is widely used for diagnosis, treatment course design, prognosis, remote monitoring, clinical decision support, care quality improvement, and care cost reduction purposes. Healthcare predictive analytics can store large volumes of data, predict the response, and provide a more personalized medical experience. This technique aids in easing patient diagnosis, detecting patients at higher risks, improving patient healthcare, gaining better insights, and enabling healthcare practitioners to make well-informed decisions. In addition, the software functions are based on the environment of the patient, risk factors, genetics, and medical history.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Allscripts Healthcare Solutions Inc
• Cerner Corporation
• IBM Corporation
• McKesson Corporation
• MedeAnalytics Inc
• Microsoft Corporation
• Oracle Corporation
• SAS Institute Inc
• UnitedHealth Group Incorporated
• Verisk Analytics

Global Healthcare Predictive Analytics Market Development and Growth:

The escalating demand for these software to improve efficiency in clinical operations and health outcomes through enhanced care and patient engagement is among the primary factors driving the healthcare predictive analytics market. Besides this, the increasing utilization of electronic health record (EHR) systems to aid in the management of patient results and provide accurate, up-to-date, and complete information is further augmenting the market growth. Moreover, the integration of the internet of things (IoT) and big data that assists in collecting patient records and test results, analyzing disease patterns, and increasing patient comfort and convenience is also catalyzing the global market. Apart from this, the growing popularity of the technique, owing to its cost-effectiveness, reduced number of unnecessary tests, fraud detection, and improved decision-making, is acting as another significant growth-inducing factor. Furthermore, the rising geriatric population prone to chronic diseases, significant improvements in medical infrastructure, and the launch of several policies by the government bodies on improving population wellness management are anticipated to propel the healthcare predictive analytics market over the forecasted period.

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Key Market Segmentation:

Breakup by Product:

• Hardware
• Software and Services

Breakup by Deployment Mode:

• On-premises
• Cloud-based

Breakup by Application:

• Clinical Data Analytics
• Financial Data Analytics
• Research Data Analytics
• Operations Management
• Others

Breakup by End User:

• Healthcare Payer
• Healthcare Provider
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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