Healthcare Predictive Analytics Market Driven by Growing Use of EHR in Healthcare Sector

Market Overview:

Healthcare predictive analytics are used to monitor healthcare information and come up with predictions regarding clinical outcomes, disease prognosis, financial affairs, and others. The healthcare predictive analytics market is marked by widespread usage of data-driven systems that analyze vast amounts of data to come up with actionable insight and projections. The increasing use of electronic healthcare records (EHR) is likely to be a major driver for the global healthcare predictive analytics market over the forecast period. Electronic healthcare records allow healthcare agencies to compile a detailed database about patients and medications, leading to more accurate decision making and safer clinical outcomes. The growing use of EHR in hospitals and other healthcare agencies has led to a growing demand for healthcare predictive analytics.

The global Healthcare Predictive Analytics Market is 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:

The Americas dominated the global healthcare predictive analytics market in 2017, followed by Europe. It is likely to remain the leading revenue generator in the global market over the forecast period due to its use of electronic healthcare record (EHRs) systems in the region, as well as the growing use of clinical decision support systems in the region. The growing demand for further product and technological enhancement in the healthcare sector in the region is likely to result in a growing demand for healthcare predictive analytics in the coming years