Global Healthcare Predictive Analytics Market Size 2024, Forecast To 2033
11 Mar, 2024
The healthcare predictive analytics market size has grown exponentially in recent years. It will grow from $16.63 billion in 2023 to $20.68 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to increased healthcare expenditure, the COVID-19 pandemic, and increasing integration of AI into healthcare. The healthcare predictive analytics market size is expected to see exponential growth in the next few years. It will grow to $52.61 billion in 2028 at a compound annual growth rate (CAGR) of 26.3%. The growth in the forecast period can be attributed to increasing adoption by healthcare facilities, supportive government initiatives, increasing focus on personalized medicines, and rising prevalence of chronic diseases. Major trends in the forecast period include focusing on the launch of AI-based predictive analytics platforms, gaining approval from governments across different countries, launching innovative products, and forming partnerships and collaborations.
Global Healthcare Predictive Analytics Market Key Driver
The healthcare predictive analytics market is poised for growth due to the increasing prevalence of chronic diseases. Chronic diseases, persistent medical conditions often lasting a lifetime, contribute significantly to global mortality. In September 2023, the World Health Organization reported that 74% of the 41 million annual deaths worldwide were caused by non-communicable diseases (NCDs) or chronic diseases. Cardiovascular diseases accounted for 17.9 million deaths, cancer for 9.3 million, chronic respiratory diseases for 4.1 million, and diabetes for 2.0 million. Predictive analytics plays a crucial role in addressing these challenges, enabling healthcare providers to adopt a proactive and personalized approach to patient care, ultimately leading to improved outcomes and resource efficiency. As of 2023, the market size aligns with the increasing demand for healthcare predictive analytics, with projections for 2024 and 2028 reflecting sustained growth.
Get A Free Sample Of The Global Healthcare Predictive Analytics Market ReportGlobal Healthcare Predictive Analytics Market Segments
The healthcare predictive analytics market covered in this report 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
By Geography:The regions covered in the healthcare predictive analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the healthcare predictive analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare predictive analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Healthcare Predictive Analytics Industry Players
IBM, UnitedHealth Group Incorporated, Cerner Corp, Change Healthcare Inc., Allscripts Healthcare Solutions, Inc., SAS Institute Inc., Wipro Limited, TIBCO Software Inc., MedeAnalytics, Inc., Health Catalyst, Practo, Mfine, Medi Buddy, Indegene, Ping A Good Doctor, JD Health, Aindra Systems Pvt. Ltd, Artificial Learning Systems Pvt. Ltd, Niramai Health Analytix Pvt. Ltd, Qure.ai, Insilico Medicine, Insigma Hengtian Software Ltd, Skin Analytics, Babylon Health, Cambridge Cognition, DeepMind Technologies, BenevolentAI, Renalytix AI, Exscientia, Iktos, Better Doc, Biovotion, BrainControl, Coimbra Genomics, Dacadoo, Doctoralia, Emperra, Exovite, Healthbank, NeurNation, Nutrino, Psious, Px Healthcare, SilverCloud, TrialReach, XtremeVRI, Novartis, Webiomed, Botkin, Gero, Ardigen, MediSensum, Care Mentor AI, Diagnocat, IQVIA, deltAlyz Canada, Pilotcore, McKesson Corporation, Microsoft Corporation, Apixio Inc, ThirdEye Data Analytics Services Pvt. Ltd, Synergo Group, Roche, Pfizer, PRA Health science, Gesto, Intensicare, Didoc, Deenty, Examedi, Dentalink, Cero, Wecancer, MedPass, Pixeon, Hi Technologies, Conexa Saude, Wuru, Yerbo, Welii, BioScience, Caecus, Epitrack, GE Healthcare, Deep Genomics Inc, Dhoner Healthtech, Welltok Inc, Oncora Medical, Recursion Pharmaceuticals Inc, Nucleai, Pepticom, Nvidia Corporation, Safermom, Ubenwa, Medsaf, GenRx,AstraZeneca, Rology, hearX Group, DilenyTech, iNNOHEALTH Technology Solutions
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Healthcare Predictive Analytics Market Overview
Healthcare predictive analytics refers to software solutions used for analyzing and processing patient data to deliver data-based, high-quality care, precise diagnoses, and individualized treatments, by healthcare organizations, hospitals, and doctors. Predictive analytics in healthcare is an advanced method for improving patient outcomes. By examining data and results from previous patients, machine learning algorithms can be programmed to provide insights into the best treatment for current patients.
Healthcare Predictive Analytics Global Market Report 2023 provides data on the global healthcare predictive analytics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The healthcare predictive analytics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.