Global Predictive Disease Analytics Market is valued approximately USD 1.63 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 22.70% over the forecast period 2022-2029. Predictive analytics uses a variety of techniques to analyze the most recent data and make future predictions, including data mining, statistics, modelling, artificial intelligence, and machine learning. The healthcare sector has made improvements in several areas by using predictive analytics. These include administering a hospital, simplifying the supply chain, and treating chronic diseases. The Predictive Disease Analytics market is expanding because of factors such as rising emergence of personalized medicine, rising adoption of digital technologies in healthcare industry.
Predictive analytical tools are being more widely used in the healthcare sector due to a combination of rising government initiatives and rising financial investments in the area. For instance, in February 2023, the European Commission allocated USD 7.2 million for a new project that aims to create an AI-based platform for gathering and evaluating clinical data on novel oncology drugs to help regulators’ and HTA agencies’ evaluations of those drugs.
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Similar to this, the American government has launched a number of initiatives in this area, such as the HealthData.gov portal, which compiles data from a number of federal databases on subjects like clinical data, community health performance, and medical and scientific knowledge. In addition, the healthcare sector is rapidly becoming digitalized due to the quick development of technology and significant investment made by the sector. These analytical tools are being used all around the world to control patients’ retention. The use of healthcare analytics also boosts employee productivity, enhances patient care, and lessens the stress on carers. To bring innovation in research and care, Databricks developed the Lakehouse paradigm for the healthcare and life science industries in March 2022. Analytics, data management, and cutting-edge AI for disease prediction, medical picture classification, and biomarker identification can all be done on one platform. Thus rising product development activities and government funding in healthcare sector is catering the market growth. However, the high cost of Predictive Disease Analytics stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Predictive Disease Analytics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to rising adoption of digital technologies in healthcare industry, rising research and development of personalized medicine and rising government support to the industry. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as increasing government support and initiative, growing chronic disease in the region an increase in the number of collaborations for product development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market player included in this report are:
Oracle Corporation
International Business Machines (IBM) Corporation
SAS Software
Allscripts Healthcare Solutions Inc.
MedeAnalytics, Inc.
Health Catalyst.
Apixio Inc.
Microsoft Corporation
UnitedHealth Group Incorporated (Optum Inc.),
Cerner Corporation
Recent Developments in the Market:
In September 2020, Microsoft, a U.S.-based company, unveiled Microsoft Cloud for Healthcare, a partnership between patients and providers that will aid in providing improved patient care insights.
In January 2023, SwitchPoint Ventures and Ardent Health Service partnered to launch an innovation lab. The studio will focus on developing and putting into practise data-driven solutions. Ardent has also implemented Polaris, a game-changing technology from SwitchPoint that accurately forecasts patient volume in any clinical setting.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
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The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and component offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
Software & Services
Hardware
By Deployment:
On-premises
Cloud based
By End User:
Healthcare Payers
Healthcare Providers
Other End Users
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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