The Healthcare Predictive Analytics Global Market Report 2023 by The Business Research Company, provides healthcare predictive analytics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Healthcare Predictive Analytics Global Market Report 2023, the global healthcare predictive analytics market size will grow from $13.7 billion in 2022 to $17.23 billion in 2023 at a compound annual growth rate (CAGR) of 25.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the healthcare predictive analytics is expected to grow to $42.91 billion in 2027 at a CAGR of 25.6%.
The increasing adoption of electronic health records over manual records is driving the growth of the healthcare predictive analytics market. An EHR is a digital representation of a patient’s medical history that the physician keeps track of throughout time. It may include all critical administrative and clinical data relevant to that person’s care under a specific provider, such as demographics, progress notes, problems, medications, vital signs, past medical history, immunizations, laboratory data, and radiology reports. Electronic health records are increasingly used because they are a digital version of manual records and are not vulnerable to wear and tear or don’t get destroyed easily.
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The healthcare predictive analytics market is segmented:
1) By Component: Services, Software, Hardware
2) By Delivery Model: Stand Alone, Integrated
3) By Application: Operations Management, Financial, Population Health Management, Clinical
4) By End Use: Healthcare Payers, Healthcare Providers
Technological advancement is a key trend gaining popularity in the healthcare predictive analytics market. The companies operating in the healthcare predictive analytics are focusing on incorporating innovative technologies such as artificial intelligence to improve productivity, lowers costs, and improves patient care and health outcomes. In September 2020, EVERSANA, a US-based life sciences commercial services company, launched ACTICS. ACTICS is the technology-enabled approach that helps life science enterprises maximize their commercial success. ACTICS offers the cloud-based solution that pharmaceutical innovators require, to improve actions in the product and patient journeys by combining the power of AI-driven predictive analytics with ready-to-deploy real-time commercial services.
The healthcare predictive analytics market report table of contents includes:
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