U.S. Healthcare Analytics Market – Industry Trends and Forecast to 2030

U.S. 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.

U.S. Healthcare Analytics Market Analysis and Size

The increase in healthcare prices as a result of improve operational efficiencies, expanding range of services, the desire to cut costs, and treatment effectiveness  are the major drivers that propelled the healthcare analytics market's demand. In addition, the increasing amount of sophisticated data generated by the transformation from paper to electronic health records, as well as its ability to improve physician practice, will fuel the healthcare analytics market demand. Due to an increase in the use of big data in healthcare organizations to address risks connected with numerous chronic diseases, the healthcare analytics market is predicted to grow. Furthermore, the growing use of telemedicine solutions by various enterprises to lower operational costs and improve service quality is propelling the healthcare analytics market expansion. All of this will help the U.S. healthcare analytics market to grow during the forecast period of 2023 to 2030.

Data Bridge Market Research analyses that the U.S. healthcare analytics market which was USD 6.43 billion in 2022, and is expected to reach USD 13.49 billion by 2030, and is expected to undergo a CAGR of 10.2% during the forecast period of 2023 to 2030. “Software” dominates the component segment of the U.S. healthcare analytics market owing to increase in demand for analytical solutions as a result of the increased workload in healthcare industry. 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.

U.S. Healthcare Analytics Market Scope and Segmentation

Market Definition

Healthcare analytics assist healthcare professionals in finding opportunities to enhance patient engagement, clinical outcomes, patient engagement and care delivery. Healthcare analytics solutions make use of the vast amounts of collected data for offering organizations with actionable insights.

U.S. Healthcare Analytics Market Dynamics

Drivers

• Increase in the Cost of Operations and the Decline in Reimbursements for Laboratory Services

The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for healthcare interoperability solutions across healthcare providers and healthcare payers. As the population in the U.S. continues to age, there is a growing demand for medical procedures, related to chronic diseases. This is expected to surge the healthcare analytics market.

• Government Investments for Healthcare Interoperability

The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Healthcare analytics enables experts in the field to identify opportunities to improve care delivery, clinical outcomes, operations, and patient engagement. Healthcare data analytics integrates real time and historical data to forecast trends, increase medical care, expose actionable insights, and fuel long term growth.

Opportunity

• Increasing Operational Efficiencies

Ongoing advancements in hemostatic products, including the development of innovative materials and improved delivery systems, enhance the effectiveness and safety of these devices. These advancements attract healthcare providers looking for better options.

The healthcare analytics market will grow as healthcare prices rise as a result of improve operational efficiencies, an expanding range of services, the desire to cut costs, and treatment effectiveness. In addition, the increasing amount of sophisticated data generated by the transformation from paper to electronic health records, as well as its ability to improve physician practice, will fuel the healthcare analytics market demand.

Moreover, technical developments, as well as an increase in investor interest in healthcare analytical tools, will drive the healthcare analytics market growth.

Restraint/Challenge

• High Cost of Devices

The high cost of analytics solutions and concerns regarding inaccurate and inconsistent data are expected to obstruct market growth. Moreover, reluctance to adopt healthcare analytics solutions in emerging countries and issues with data integration are projected to challenge the healthcare analytics market in the forecast period of 2023-2030.

This U.S. 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 U.S. 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 October 2022, Optum announced that the company has completed its combination with Change Healthcare. This will increasing efficiency and reducing friction will benefit the entire health system, resulting in lower costs and a better which leads to the demand in the healthcare analytics market.

U.S. Healthcare Analytics Market Scope

The U.S. Healthcare analytics 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
• Support Services
• Business Analytics Services
• Software
• Hardware

Delivery Model

• On-Demand
• On-Premise

Application

• Clinical Analytics
• Quality Improvement and Clinical Benchmarking
• Clinical Decision Support
• Regulatory Reporting and Compliance
• Comparative Analytics/ Effectiveness and Precision Health
• Population Health Analytics
• Population Risk Management
• Population Care Management
• Patient Engagement
• Clinical Outcome Management
• Activity-Based Costing
• Operational and Administrative Analytics
• Supply Chain Analytics
• Workforce Analytics
• Enterprise Performance
• Supply Chain Analytics
• Market Intelligence
• Research Analytics
• Strategic Analytics
• Financial Analytics
• Claims Processing
• Revenue Cycle Management (RCM)
• Payment Integrity and Fraud Waste, and Abuse (FWA)
• Risk Adjustment
• Risk Assessment

End User

• Healthcare Payers
• Healthcare Providers and ACOS
• HIES
• MCOS
• TPAS

Type

• Combination Agent Hemostats
• Thrombin Based Hemostats
• Collagen Based Hemostats
• Oxidized Regenerated Cellulose Based Hemostats
• Gelatine Based Hemostats

Healthcare Infrastructure growth Installed base and New Technology Penetration

The U.S. Healthcare analytics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for U.S. healthcare analytics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the U.S. healthcare analytics market. The data is available for historic period 2015-2020.

Competitive Landscape and U.S. Healthcare analytics market Share Analysis

The U.S. 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, global 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 U.S. healthcare analytics market.

Some of the major players operating in the U.S. healthcare analytics market are:

• IBM (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.)
• Oracle (U.S.)
• SAS Institute Inc. (U.S.)
• ExlService Holdings, Inc. (U.S.)
• CitiusTech Inc. (U.S.)
• IQVIA (U.S.),
• GENERAL ELECTRIC (U.S.)