Healthcare Analytics Market

The report "Healthcare Analytics Market by Type (Predictive, Diagnostic), Application (Claim, RCM, Fraud, Precision Health, RWE, Imaging, Supply Chain, Workforce, Population Health), EndUser (Payer, Hospital, ACO, ASC, Govt, Clinic), & Region: Global Forecast to 2029", is expected to reach USD 133.19 billion by 2029 from USD 44.83 billion in 2024, at a CAGR of 24.3% during 2024–2029.

Browse 516 market data Tables and 55 Figures spread through 410 Pages and in-depth TOC on "Healthcare Analytics Market by Type (Predictive, Diagnostic), Application (Claim, RCM, Fraud, Precision Health, RWE, Imaging, Supply Chain, Workforce, Population Health), EndUser (Payer, Hospital, ACO, ASC, Govt, Clinic), & Region: Global Forecast to 2029"
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The major factors driving the market growth of the healthcare analytics market include growing pressure to curb healthcare spending and improve patient outcomes, growing venture capital investments in healthcare analytics start-up, growing focus on real-world evidence, rise of telemedicine, remote monitoring and growing pressure to curb healthcare spending and improve patient outcomes and growing venture capital investments in healthcare analytics start-up. The potential of healthcare analytics to improve efficiency and overall care quality has attracted significant venture capital to the sector. Several venture capitalists are currently funding healthcare analytics startups, with a strong emphasis on enabling these businesses to develop advanced solutions like predictive and prescriptive analytics. In 2023, US venture capital investments in AI healthcare companies totaled USD 7.2 billion, accounting for 21% of total VC healthcare investment. As of 2024, USD 2.8 billion had already been invested in AI healthcare companies, with projections indicating a total investment of USD 11.1 billion by the end of the year.

Clinical analytics segment holds largest share of the healthcare analytics market in 2023.

The growing adoption of Electronic Health Records (EHR), coupled with enhanced decision-making capabilities and ongoing technological advancements, is significantly driving the demand for clinical analytics. Financial analytics emerged as the fastest growing segment, accounting for the second-largest share of the healthcare analytics market. Growth of this segment is primarily driven by the growing need for cost management and efficiency in healthcare operations, as well as the rising demand for data-driven insights to improve financial performance and revenue cycle management.

Providers segment holds largest share of the healthcare analytics market in 2023.

Healthcare providers, including hospitals and health systems, are increasingly adopting healthcare analytics to improve patient care and operational efficiency. This shift is driven by the need to effectively manage massive amounts of patient data and improve decision-making using real-time insights. As a result, the provider segment holds a significant share of the healthcare analytics market, demonstrating the critical role that data-driven solutions play in improving healthcare delivery and outcomes. The payer segment emerged as the fastest-growing segment in the healthcare analytics market, accounting for the second largest share. The growth is primarily driven by an increasing focus on value-based care models, as well as the need for effective claims management and fraud detection. Furthermore, payers use analytics to improve customer engagement and overall financial performance.

North America holds largest share with significant CAGR in 2023.

Rising healthcare costs in North America, driven by increased service demand, costly treatments, and operational inefficiencies, have created an urgent need for healthcare analytics. In 2023, the United States spent nearly USD 4.8 trillion on healthcare, with 93.1% of the population covered. This situation highlights the importance of optimizing resource allocation, improving patient outcomes, and increasing operational efficiency. Healthcare analytics provides valuable insights into utilization patterns, identifies cost-cutting opportunities, and improves patient outcomes. As a result, advanced analytics solutions are critical for stakeholders navigating the complexities of an evolving healthcare landscape, allowing North America to maintain its dominant position in the healthcare analytics market.

The report profiles key players such as Merative (US), Optum, Inc.(US), SAS Institute Inc. (US), Oracle (US), Citiustech Inc (US), Inovalon (US), Mckesson Corporation (US), MedeAnalytics, Inc.(US), Cotiviti, Inc. (US).

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