Global Healthcare Predictive Analytics Market Report and Forecast 2024-2032

Global Healthcare Predictive Analytics Market Outlook

The global healthcare predictive analytics market value was USD 15.78 billion in 2023, driven by the increasing demand for efficient healthcare solutions across the globe. The market size is anticipated to grow at a CAGR of 25.2% during the forecast period of 2024-2032 to achieve a value of USD 119.24 billion by 2032.

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Population Health Management Segment to Bolster the Growth of the Global Healthcare Predictive Analytics Industry

Based on application, the population health management segment is expected to hold a significant share in the global healthcare predictive analytics industry during the forecast period. This growth can be attributed to the rising focus on improving clinical health outcomes through enhanced care and patient engagement with necessary financial and caring strategies.

Meanwhile, the clinical segment is also expected to aid the market growth. The increased deployment of clinical analytics helps the patients and caregivers with post-treatment complications, further allowing caregivers to access patient's medical history. These factors are predicted to aid the market growth in the coming years.

North America to Account for a Significant Market Share of the Global Healthcare Predictive Analytics Industry

North America is predicted to hold a significant market share of the global healthcare predictive analytics industry. This surge can be attributed to the presence of the leading market players in the region. In addition, the presence of the state-of-the-art healthcare infrastructure in the region, along with rising investments by the government, is predicted to drive the market growth. Furthermore, the rapidly ageing population and the growing incidences of chronic diseases in the region are also significantly contributing to the industry growth.

Healthcare Predictive Analytics: Market Segmentation

Healthcare predictive analytics is a software that aids in the diagnosis, prognosis, and treatment of various diseases or health conditions. Utilising the advanced technological solutions such as artificial intelligence (AI) and machine learning (ML), the healthcare predictive analytics tools can store large amounts of data and predict a patient's response to certain treatments, along with the risk of developing a certain medical condition and its prognosis. Moreover, this software allows for a more personalised healthcare experience, as the software functions are based on the patient's medical history, environment, genetics, risk factors, among other aspects.

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Based on application, the market is distributed into:

• Operations Management 
• Financial
• Population Health Management
• Clinical

Among these, operations management can be further distributed by type into demand forecasting, workforce planning and scheduling, inpatient scheduling, and outpatient scheduling. At the same time, financial can be divided by type into revenue cycle management, fraud detection, and others. In addition, population health management can be further segmented by type into population risk management, patient engagement, population therapy management, and others. While, clinical can be further segregated by type into quality benchmarking, patient care enhancement, and clinical outcome analysis and management.

On the basis of end use, the industry can be categorised into:

• Healthcare Payers 
• Healthcare Providers 
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Efficient Healthcare Facilities to Bolster the Growth of the Global Healthcare Predictive Analytics Industry

The rapidly increasing incidences of chronic illnesses worldwide, such as cardiovascular diseases, are leading to an increased demand for efficient healthcare facilities for timely diagnosis and effective treatment of diseases, which is propelling the healthcare predictive analytics industry. According to the WHO estimates, cardiovascular diseases are the leading cause of death globally, claiming more than 17.9 million lives every year. Cardiovascular diseases are illnesses of heart and blood vessels that are adversely affected by high-risk behaviours, such as unhealthy diet, physical inactivity, and substance abuse. Moreover, the heightened investments in the healthcare infrastructure worldwide are also aiding the market growth. For instance, according to Deloitte’s 2021 Global Healthcare Outlook report, the health spending is anticipated to rise at a 3.9% CAGR between 2020 to 2024, wherein the fastest growth is expected in the Asia Pacific region. These factors are predicted to drive the market growth in the coming years.

Key Industry Players in the Global Healthcare Predictive Analytics Market

The report gives a detailed analysis of the following key players in the global healthcare predictive analytics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• IBM Corporation
• Cerner Corporation
• Mckesson Corporation
• SAS Institute Inc.
• Oracle Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report

Healthcare Predictive Analytics Market Report Snapshots

Healthcare Predictive Analytics Market Size

Healthcare Predictive Analytics Companies