In terms of revenue, the Global Healthcare Predictive Analytics Market is expected to reach USD 74.62 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 26.90% from 2022 to 2028. Increasing dependency of pharmaceutical and biotech firms on to advance their knowledge of the efficacy of clinical treatments are the driving factors for Market.
- Under the application segment population health sub-segment is anticipated to dominate the segment for Market and grow at a substantial Compound Annual Growth Rate (CAGR). The increasing requirement to constrain healthcare expenditure and enhance patient outcomes are the main factor contributing to the market growth of this product segment.
- payers sub-segment held a market significant share in 2021. This is the fastest segment growing in the market as the majority of the executives considering the usage of the technology within the association are proving to be beneficial.
- North America is the largest regional segment. This is due to the high existence of electronic health documentation systems and the integration of GPS facilitated systems with healthcare assistance.
Some of key players in Market are - Cerner Corporation, Information Builders Inc., International Business Machines Corporation (IBM), Oracle Corporation, Health Catalyst are the major companies operating in Healthcare Predictive Analytics Market., Health Catalyst are the major companies operating in Healthcare Predictive Analytics Market..
Developing nations are noticing the quick growth in healthcare expenses. Predictive analytics can be instrumental in lowering prices at multiple fronts like lowering hospital readmissions, eradicating unnecessary diagnostic examinations, and lowering the number of unnecessary emergency room visits. Further, unwarranted tests which are the primary components of healthcare cost can also be lessened by analytics.
The healthcare data analytics support the patients and caretakers with post-operation problems, like as surgical site infections, poor physical operation, and response to medicines and allergies, as healthcare providers are provided with the patient’s historical medical data, which is given with the help of electronic health records. Also, with healthcare data analytics, the patients can present their health situation to different doctors many times. This can be accomplished through an acute examination of their data, additionally providing preventative care.
North America is expected to emerge as potential market for Market. As the information sets evolve and get difficult to handle, health systems are increasingly adopting predictive analytics. Healthcare organizations are also learning that social determinants of health lead to the wellbeing of a patient more than medical problems. Many non-competing healthcare institutions are partnering with each other to handle the health of their regional population.