Healthcare Operational Analytics Market

Global Healthcare Operational Analytics Market Size (2024 to 2029)

The size of the global healthcare operational analytics market is estimated to be growing at a CAGR of 9.1% during the forecast period.

Current Scenario of the Healthcare Operational Analytics Market

Analytics in healthcare is becoming more prevalent, and it will significantly impact the future of medicine and care delivery. Analytics has many applications, including improving healthcare efficiency while improving quality of care, mining genetic data, effectively responding to disasters, reducing costs, and achieving various other goals. There will be numerous stumbling blocks along the way. Among these concerns are privacy concerns, the collection and availability of high-quality data, data standards, data communication to end-users, and even the availability of qualified personnel to deliver on such promises. Nevertheless, these technologies are changing how society manages healthcare, resulting in healthier citizens with longer survival rates.

MARKET DRIVERS

The growing popularity and usage of cloud computing, mobile devices, and Internet of Things (IoT) device are anticipated to promote the global healthcare operational analytics market growth.

Healthcare providers have recognized the actual potential of cloud-based healthcare solutions all around the world. Patients, doctors, and healthcare organizations benefit from the cloud regarding operational, functional, and economic benefits. Cloud computing is transforming patient care, diagnosis, data security, and more in the healthcare business. However, most service providers lack the resources to operate a robust security infrastructure. Hence, the growing acceptance and adoption of these technological solutions in healthcare are anticipated to drive the global healthcare operational analytics market.

The growing global mHealth market will likely show acceleration in the worldwide healthcare operational analytics market.

In today's digital age, everyone appears to be concerned with using the in-built pedometer of their portable and wearable gadgets, such as smartphones, smartwatches, fitness trackers, or tablets, to track their fitness and health data. However, Apple and Google provide dedicated platforms for developing fitness and health statistics research applications, such as Apple's ResearchKit and Google Fit.

Factors such as the growing adoption of IoT in healthcare, increased amount of data generated by electronic health records (EHRs), claims, and patients, rising focus on real-world evidence, and big data in healthcare improve patient outcomes. In addition, a growing emphasis on value-based care and the application of analytics to precision and personalized treatment is expected to promote the growth rate of the global healthcare operational analytics market.

Y-O-Y growth in the prevalence of chronic diseases, pressure to reduce healthcare costs, the rising elderly population, and the life expectancy growing worldwide are further expected to accelerate the global healthcare operational analytics market. According to the World Health Organization, CVDs killed nearly 17.9 million people in 2016, accounting for 31% of all human deaths. Heart attacks and strokes account for approximately 85 percent of these fatalities. In addition, in 2016, there were nearly 251 million COPD cases worldwide, according to the World Health Organization's Global Burden of Disease Study. Almost 90% of COPD deaths occur in the low and middle.

MARKET RESTRAINTS

AI-powered log analytics and real-time monitoring of performance issues and cyber threats are just a few of the restraints. In addition, rising analytics solution costs, data privacy and theft concerns, and a scarcity of skilled IT professionals are expected to hamper the market's growth rate. Furthermore, poor scalability, the more significant infrastructure required, problems associated with data security, high costs associated with the maintenance, and risks related to latency and downtime are further expected to impact the global healthcare operational analytics market growth negatively.

REPORT COVERAGE

KEY PLAYERS IN THE  HEALTHCARE OPERATIONAL ANALYTICS MARKET

IBM Corporation, Wipro Limited, Health Catalyst, Allscripts, Cerner Corporation, Inovalon, MEDEANALYTICS, INC., McKesson Corporation, Oracle, Optum, Inc., IQVIA, SAS Institute Inc., Verscend Technologies Pvt. Ltd, Vitreous Health, CitiusTech Inc., and GENERAL ELECTRIC are notable companies in the global healthcare operational analytics market.

DETAILED SEGMENTATION OF THE GLOBAL HEALTHCARE OPERATIONAL ANALYTICS MARKET INCLUDED IN THIS REPORT

This research report on the global healthcare operational analytics market has been segmented and sub-segmented based on type, component, deployment, end-user, and region.

By Type

• Supply Chain Analytics
• Human Resource Analytics
• Strategic Analytics

By Component

• Software
• Hardware
• Services

By Deployment

• On-Premises
• Web and Cloud-based

By End-user

• Hospitals and Clinics
• Pharmaceutical and Biotechnology Companies
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa