Healthcare Predictive Analytics Market Worth $30.71 Billion, North America Dominated the Market Share, Accounting for Over 40% in 2022 - Arizton

Arizton published the latest research report, “Healthcare Predictive Analytics Market - Global Outlook & Forecast 2023-2028”, Industry Trends, Growth, Opportunity Company Analysis. The global healthcare predictive analytics market to reach USD 30.71 billion by 2028.  

The report considers the present scenario of the global healthcare predictive analytics market and its market dynamics for 2023−2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry. 

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Healthcare costs have surged, and the COVID-19 pandemic has accelerated the inflation of healthcare expenses worldwide. Limited access to quality healthcare due to financial constraints is prevalent in low- and middle-income countries (LMICs). COVID-19 has expedited various existing and emerging healthcare trends, particularly regarding health equity and environmental sustainability. Furthermore, healthcare executives globally are focused on shifting consumer preferences and behavior, integrating life sciences with the healthcare sector, rapidly advancing digital health technologies, introducing new talent and care delivery models, and implementing clinical innovation. Emerging technological applications like big data and advanced analytics are empowering health systems. Predictive analytics significantly improves patient management and ensures that treatments or surgical interventions are performed optimally. Likewise, the Internet of Things (IoT) and cloud computing can aid doctors in continuously monitoring a patient's vital signs. 

Predictive analytics has provided its value in hospital settings and at home by preventing patients from backsliding into a need for acute care. After a hospital stay, many patients are discharged without long-term health monitoring, leaving them at risk of adverse events and hospital readmissions that could have been avoided with appropriate preventative measures. Among the frail and elderly, falls at home are particularly common and a leading cause of fatal and nonfatal injuries. It presents another opportunity for predictive analytics to transform a reactive healthcare approach into a proactive one. 

Geographical Analysis 

North America emerged as the leading region in the global healthcare predictive analytics market, accounting for a share of over 40% in 2022. Factors such as the increasing elderly population, prevalence of chronic illnesses, increasing medication errors, adoption of healthcare IT solutions, rise in prescriptions and hospitalization rates, and growing awareness of technological developments contribute to the market growth. Advancements and increased use of digital health technologies with the growing number of emerging and leading players entering the healthcare predictive analytics field contribute to this region's market growth. 

Europe has major growth potential in the healthcare predictive analytics market with increasing demand for advanced healthcare IT infrastructure and digital health solutions. The rise in population with the prevalence of acute and chronic infections, increase in hospital admissions, a growing number of prescriptions, rising medication errors and drug abuse, and increased awareness of telehealth, telemedicine, and others are also contributing to the growth of the market in this region. Germany, the UK, France, Italy, and Spain dominated Europe's healthcare predictive analytics market. 

Vendor Landscape 

The global healthcare predictive analytics market is highly competitive, with global, regional, and local players recommending a broad range of conventional and latest-generation AI technologies for end-users. The key vendors in the market include Health Catalyst, IBM, Koninklijke Philips, Microsoft, Oracle, and UNITEDHEALTH GROUP, based on factors such as digital healthcare platforms, patient management, and clinical advancements. These companies have a wide geographic presence, diverse product portfolios, and a strong focus on product innovation, R&D, and business expansion activities. 

Vendors are actively involved in the healthcare predictive analytics market, providing solutions that help organizations in various applications, such as finance & operations, clinical care, population health management, and R&D activity. The company’s solutions employ advanced analytics and predictive modeling to analyze large amounts of healthcare data. These companies offer predictive analytics solutions tailored to healthcare providers' needs. Additionally, several smaller players in the market offer niche solutions, such as predictive analytics for clinical decision support and population health management. Health Catalyst is one of the leading players in the healthcare industry's data and analytics technology provider. The company offers analytics solutions to improve the outcomes in clinical & quality, population health, finance & operations, and other research purposes. 

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Key Company Profiles 

• Health Catalyst 
• IBM 
• Koninklijke Philips 
• Microsoft 
• Oracle 
• UNITEDHEALTH GROUP 
• Allscripts Healthcare 
• Apixio 
• CGI 
• Change Healthcare 
• Conduent 
• COTIVITI 
• Epic Systems 
• Flatiron 
• Forian 
• FraudLens 
• FRISS 
• Healthcare Fraud Shield 
• LexisNexis Risk Solutions 
• MedeAnalytics 
• Net Health 
• OSP 
• PotentiaMetrics 
• SAS Institute 
• Verisk Analytics 
• Wipro

Market Segmentation    

• Delivery Mode: On-premises and Cloud-based 
• Application: Finance & Operations, Clinical Care, Population Health Management, and R&D 
• End-user: Payers, Healthcare Settings, and Others 
• Geography: North America, Europe, APAC, Latin America, and Middle East & Africa 

For a detailed table of contents, click: https://www.arizton.com/market-reports/healthcare-predictive-analytics-market?details=tableOfContents  

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