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Healthcare Predictive Analytics Market Size, Global Drivers and Forecast to 2023

Apr 29th 2020 at 3:54 AM

Market Overview:

Healthcare predictive analytics is generally used in the analysis of current data in order to predict future by using statistics, data mining, modeling, machine learning, and artificial intelligence. Increasing efficiency in the healthcare sector, the rising demand to curtail healthcare cost, and the advent of evidence-based and personalized medicine are some of the primary growth stimulants of the healthcare predictive analytics market. Rising importance of healthcare, especially in emerging nations is likely to generate new growth opportunities for the market in the foreseeable future.

Developing economies across the world are facing issues owing to the increasing medication cost. Governments are thus taking efforts to offer cost-effective services to the consumers at better quality. These efforts are likely to stimulate the predictive analytics market in the healthcare industry. The soaring demand for personalization for patient care, advancing technology, and rising awareness created by the top players are considered to encourage the market growth to a large extent.The global Healthcare Predictive Analytics Market Size expected to exhibit a strong 29.3% CAGR over the forecast period (2018 to 2023), according to the latest research report from Market Research Future (MRFR).

Growing use of data-driven clinical decision support systems in the healthcare sector is likely to be a major driver for the global healthcare predictive analytics market over the forecast period. Clinical decision support systems are being welcomed in the healthcare sector around the world, as they provide the physician with a second layer of security, allowing more accurate diagnoses and better rehabilitation. Increasing applications of healthcare predictive analytics in population health management is also likely to be a major driver for the global healthcare predictive analytics market over the forecast period.

Competitive Analysis:

· IBM

· Verisk Analytics Inc.

· Cerner Corporation

· McKesson Corporation

· Oracle

· SAS

· Allscripts

· MedeAnalytics Inc

· Optum Inc

· Inovalon

· SCIO Health Analytics

· Health Catalyst

· Verscend Technologies Inc.

· Wipro Limited

· CitiusTech Inc

Segmentation:

The global healthcare predictive analytics market report is segmented on the basis of application, end use, and component.

By application, the global healthcare predictive analytics market is segmented into operations management, financial, population health management, and clinical. The operations management segment is further sub-segmented into demand forecasting, workforce planning and scheduling, inpatient scheduling, and outpatient scheduling. The financial segment is further classified as revenue cycle management, fraud detection, and others. The population health segment is further sub-segmented as population risk management, patient engagement, population therapy management, and other applications. The clinical segment includes quality benchmarking, patient care enhancement, and clinical outcome analysis and management.

By end use, the global healthcare predictive analytics market is segmented into payers, providers, and others.

By component, the global healthcare predictive analytics market is segmented into services, software, and hardware.

Regional Analysis:

Healthcare predictive analytics is generally used in the analysis of current data in order to predict future by using statistics, data mining, modeling, machine learning, and artificial intelligence. Increasing efficiency in the healthcare sector, the rising demand to curtail healthcare cost, and the advent of evidence-based and personalized medicine are some of the primary growth stimulants of the healthcare predictive analytics market. Rising importance of healthcare, especially in emerging nations is likely to generate new growth opportunities for the market in the foreseeable future.

Developing economies across the world are facing issues owing to the increasing medication cost. Governments are thus taking efforts to offer cost-effective services to the consumers at better quality. These efforts are likely to stimulate the predictive analytics market in the healthcare industry. The soaring demand for personalization for patient care, advancing technology, and rising awareness created by the top players are considered to encourage the market growth to a large extent.

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