Europe Healthcare Analytics Market, By Type (Prescriptive Analytics, Predictive Analytics, Descriptive Analytics), Component (Services, Software, Hardware), Delivery Model (On-Demand, On-Premise), Application (Clinical Analytics, Population Health Analytics, Operational and Administrative Analytics, Financial Analytics), End-User (Healthcare Payers, Healthcare Providers and ACOS, HIES, MCOS, AND TPAS) – Industry Trends and Forecast to 2030.
Europe Healthcare Analytics Market Analysis and Size
The emergence of big data in the healthcare industry across the globe are the significant factors responsible for driving the growth of the healthcare analytics market. In addition, the rise in health awareness, surge in disposable income and significant increase in geriatric population also heighten the overall growth of the market.
Data Bridge Market Research analyses that the Europe healthcare analytics market which was USD 18.5 billion in 2022, would rocket up to USD 53.23 billion by 2030, and is expected to undergo a CAGR of 15.3% during the forecast period. This indicates that the market value. “Software” dominates the component segment of the healthcare analytics market owing to the increasing need for cost containment. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Europe Healthcare Analytics Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015-2020) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Prescriptive Analytics, Predictive Analytics, Descriptive Analytics), Component (Services, Software, Hardware), Delivery Model (On-Demand, On-Premise), Application (Clinical Analytics, Population Health Analytics, Operational and Administrative Analytics, Financial Analytics), End-User (Healthcare Payers, Healthcare Providers and ACOS, HIES, MCOS, AND TPAS) |
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Countries Covered |
Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe |
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Market Players Covered |
IBM India Pvt Ltd (U.S.), Flatiron (U.S.), Lumiata (U.S.), Wipro Limited (India), Allscripts Healthcare, LLC (U.S.), Cerner Corporation (U.S.), Health Catalyst (U.S.), Inovalon (U.S.), McKesson Corporation (U.S.), MEDEANALYTICS, INC. (U.S.), Optum, Inc. (U.S.), Ayasdi AI LLC (U.S.), Oracle (U.S.), SAS Institute Inc. (U.S.),, ExlService Holdings, Inc (U.S.),, Roam Analytics (U.S.),, Health Fidelity, Inc, (U.S.), CitiusTech Inc. (U.S.), Vitreos Health (U.S.),, IQVIA (U.S.),, and GENERAL ELECTRIC(U.S.) |
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Market Opportunities |
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Market Definition
Healthcare analytics is also referred as clinical data analytics is analytics that basically aids in providing real-time data that can help in deciding the course of future treatment of the patient. It is branch of analysis that offers insights into hospital management, patient records, diagnosis and more providing insights on macro and micro levels.
Europe Healthcare Analytics Market Dynamics
Drivers
- Growing Adoption of Electronic Health Records (EHRs) and Other Digital Healthcare Systems
The widespread implementation of EHRs and digital healthcare systems generates a vast amount of data that can be analyzed to gain insights and improve patient care.
- Increasing Need for Efficient Healthcare Data Management and Analysis
Healthcare organizations are seeking ways to effectively manage and analyze large volumes of data to enhance decision-making, optimize resource utilization, and improve operational efficiency.
- Rising Demand for Real-Time and Predictive Analytics in Healthcare Decision-Making
Real-time analytics allows healthcare practitioners to make educated decisions in real time, resulting in better patient outcomes. Predictive analytics aids in the identification of possible dangers and allows for early intervention, resulting in better preventative treatment.
- Government Initiatives Promoting the Use of Healthcare Analytics
Governments all across the globe are enacting regulations and programmes to promote the use of healthcare analytics. These programmes seek to increase healthcare quality while lowering costs and improving population health outcomes.
Opportunities
- Increasing Adoption of Cloud-Based Analytics Solutions in Healthcare
Scalability, flexibility, and cost-effectiveness of cloud-based analytics solutions enable healthcare organisations of all sizes to access advanced analytics capabilities without major upfront investments.
- Integration of Healthcare Analytics with Wearable Devices and Mobile Health Applications
Integrating healthcare analytics with wearable devices and mobile health apps allows for continuous monitoring of patient health data. This link increases the possibility of real-time analytics and personalised treatments.
Restraints
- Limited Interoperability and Standardization of Healthcare Data
The absence of interoperability and standardised data formats creates issues in gathering and integrating data from diverse sources, affecting the accuracy and completeness of analytics insights.
- . Shortage of Skilled Professionals with Expertise in Healthcare Analytics
The demand for skilled professionals proficient in healthcare analytics outpaces the availability of talent, creating a skills gap. Organizations face challenges in recruiting and retaining qualified individuals for data analysis and interpretation.
Challenges
- Competitive Landscape with a Large Number of Vendors
The healthcare analytics market is highly competitive, with numerous vendors offering a wide range of analytics solutions. Intense competition can lead to pricing pressures and challenges in differentiating products and services.
- Resistance to Change and Lack of Acceptance Among Healthcare Professionals
Implementing healthcare analytics requires changes in workflows and clinical practices. Resistance to change among healthcare professionals, including physicians and clinicians, can hinder the adoption and effective utilization of healthcare analytics solutions.
This Europe healthcare analytics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Europe healthcare analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth
Recent Development
- In May 2022, The European Commission (EHDS) launched the European Health Information Space. The EHDS should help the EU significantly improve the health of people across Europe. People should be able to manage and use their health data in their own country or in another member state. It should promote a single market for digital health services and goods. In addition, it should ensure full compliance with the EU's strict data protection requirements and create a consistent, reliable and efficient framework for the use of health data in research, innovation, decision-making and regulatory action
- In November 2022, Clalit, Israel's largest healthcare provider, and IQVIA, a leading global provider of advanced analytics, technical solutions and clinical research services to the life sciences sector, have announced a long-term partnership. The partnership ensures that IQVIA can respond to the interest of the pharmaceutical industry in Israel as a leading research and innovation destination by combining Clalit's goal to improve policy and healthcare with IQVIA's combined intelligence
Europe Healthcare Analytics Market Scope
The Europe ear and nasal packing market is segmented on the basis of type, component, delivery model, application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Prescriptive Analytics
- Predictive Analytics
- Descriptive Analytics
Component
- Services
- Software
- Hardware
Delivery Model
- On-Demand
- On-Premise
Application
- Clinical Analytics
- Population Health Analytics
- Operational and Administrative Analytics
- Financial Analytics
End User
- Healthcare Payers
- Healthcare Providers
- ACOS
- HIES
- MCOS
- TPAS
Europe Healthcare Analytics Market Regional Analysis/Insights
The Europe healthcare analytics is analysed and market size insights and trends are provided by country, type, component, delivery model, application and end user as referenced above.
The countries covered in the Europe healthcare analytics market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey and rest of Europe in Europe.
Germany dominates the Europe healthcare analytics market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the Growing adoption of electronic health records (EHRs) and other digital healthcare systems. Also, other significant factors that will escalate the market’s growth in this region include the presence of major key players and rising demand for real-time and predictive analytics in healthcare decision-making.
The country section of the Europe healthcare analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and up-stream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Healthcare Analytics Market Share Analysis
The Europe healthcare analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Europe healthcare analytics market.
Some of the major players operating in the Europe healthcare analytics market are:
- IBM India Pvt Ltd (U.S.)
- Flatiron (U.S.)
- Lumiata (U.S.)
- Wipro Limited (India)
- Allscripts Healthcare, LLC (U.S.)
- Cerner Corporation (U.S.)
- Health Catalyst (U.S.)
- Inovalon (U.S.)
- McKesson Corporation (U.S.)
- MEDEANALYTICS, INC. (U.S.)
- Optum, Inc. (U.S.)
- Ayasdi AI LLC (U.S.)
- Oracle (U.S.)
- SAS Institute Inc. (U.S.)
- ExlService Holdings, Inc (U.S.)
- Roam Analytics (U.S.)
- Health Fidelity, Inc (U.S.)
- CitiusTech Inc. (U.S.)
- Vitreos Health (U.S.)
- IQVIA (U.S.)
- GENERAL ELECTRIC (U.S.)
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