How Has The Healthcare Predictive Analytics Market Size Evolved Historically?
The healthcare predictive analytics market has seen considerable growth due to a variety of factors.
• The size of the healthcare predictive analytics market has seen tremendous growth in recent times. The market is projected to expand from $20.95 billion in 2024 to $25.85 billion in 2025, with a compound annual growth rate (CAGR) of 23.4%.
This growth recorded in the historic period is largely due to increased spending in the healthcare sector, the outbreak of the COVID-19 pandemic, and the rising incorporation of AI in healthcare.
What Is The Projected Growth Of The Healthcare Predictive Analytics Market?
The healthcare predictive analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of healthcare predictive analytics is projected to experience substantial expansion in the ensuing years. By 2029, it is predicted to swell to a value of $70.43 billion, demonstrating a compound annual growth rate (CAGR) of 28.5%.
The enhancement during the projection period can be associated with the augmenting patronage by healthcare institutions, beneficial government programs, a rising emphasis on tailor-made medicines, and an escalating occurrence of chronic diseases. The forecast period will witness several key trends, including the emphasis on the introduction of AI-powered predictive analytics platforms, efforts to receive acknowledgment from governments globally, the introduction of original products, and an emphasis on partnerships and alliances.
What Are the Critical Driver Fuelling the Healthcare Predictive Analytics Market's Growth?
The surge in chronic diseases is anticipated to drive the progress of the healthcare predictive analytics market. Chronic diseases, which are medical conditions that endure over a prolonged duration and often last throughout a person's life, can be effectively managed with the use of predictive analytics. This enables healthcare professionals to adopt a proactive and highly personalized approach towards patient care, leading to enhanced results, improved resource efficiency, and an optimized healthcare system. As an example, in September 2023, the World Health Organization (WHO), a Switzerland-based specialized institution of the United Nations, reported 41 million fatalities, accounting for 74% of deaths caused by non-communicable diseases (NCDs) or chronic diseases on an annual global scale. The deaths included 17.9 million from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Consequently, the rise in chronic diseases is fueling the expansion of the healthcare predictive analytics market.
What Are The Principal Market Segments In The Global Healthcare Predictive Analytics Healthcare Industry?
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
Subsegments:
1) By Services: Consulting Services, Implementation Services, Support and Maintenance Services
2) By Software: Standalone Predictive Analytics Software, Integrated Healthcare Analytics Platforms, Cloud-Based Predictive Analytics Solutions
3) By Hardware: Servers, Storage Devices, Networking Equipment
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Which Emerging Market Trends Are Altering The Healthcare Predictive Analytics Market?
Major healthcare predictive analytics market players are concentrating their efforts on incorporating cutting-edge technologies, like artificial intelligence (AI), into healthcare systems. The idea is to bolster the capacity for data analysis, enhance patient results, and lower operational expenses. In healthcare systems, artificial intelligence (AI) implies the employment of sophisticated algorithms and machine-learning methods for the examination of enormous quantities of health data. These techniques assist in tasks such as diagnoses, treatment suggestions, and improving operational efficiency. For example, in August 2024, Innovaccer Inc., an American software business, introduced the Government Health AI Data and Analytics Platform (GHAAP). This platform is an amalgamated solution aimed at advancing data modernization and compatibility within public health systems, with a particular emphasis on Medicaid and public health agendas. The platform combines various data sources and utilizes AI-powered analytics to enhance decision-making, operational efficiency, and health equality.
Who Are the Key Players in the Healthcare Predictive Analytics Market?
Major companies operating in the healthcare predictive analytics market include:
• 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
What are the Regional Insights into the Healthcare Predictive Analytics Market?
North America was the largest region in the healthcare predictive analytics market in 2024. 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.
