Healthcare Analytics global market forecast to 2020 - sample report

2014

IQ4I Research & Consultancy Pvt. Ltd. [email protected]

www.iq4i.com

[TOOL TYPE (Descriptive, Predictive and Prescriptive Analytics), APPLICATION (Clinical Data Analytics, Financial Analytics, Administrative Analytics, Research Analytics and Others), COMPONENTS (Hardware, Software, Services and Others), DELIVERY MODE (On-premise model, Web-hosted model, Cloud-based model and Others), VENDORS (Cross Industry, Healthcare Analytics specific and EMR & HER Vendors), END USERS (Payers, Providers, Healthcare Information Exchange and Others (ACO’s, IDN’s and Employers), REGION (North America, Europe, Asia-Pacific and Rest of the World)]

Healthcare Analytics Global Market

– Forecast to 2020

Copyright © 2014 IQ4I

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approval of IQ4I.

IQ4I Research & Consultancy Pvt. Ltd. Page 2


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1.1 REPORT DESCRIPTION

The global healthcare analytics market is expected to reach $20.8 billion by 2020 and is

mainly driven by factors such as federal healthcare mandates, emergence of big data and

advancements in analytical technologies, rising incidence of ageing population and

pervasiveness of chronic and infectious diseases, preference for paperless environment

propels growth, digitalization of world. However, few factors such as lack of skilled labor with

analytical skills, lack of patient data confidentiality and transparency, functional gap between

payers and providers, increase in governmental regulation, and reimbursement issues are

hampering the market growth.

This report studies the global healthcare analytics market over the forecast period 2014 to

2020. The market is expected to grow at a CAGR of more than XX% during the forecast

period. Factors such as increasing healthcare IT adoption, centralized healthcare mandates

across the globe, emerging fields of predictive, prescriptive analytics and venture capital

investments are driving the market growth. In addition, the digitization of world commerce,

the emergence of big data, and increase in the number of advanced technologies are

providing the growth opportunities. On the other hand, some factors such as lack of skilled

labor with analytical skills, data securing, and patient data privacy are hampering the growth

of the market.

In 2013, the North America accounted for the largest share of 58.5% in 2013 and also

registered the highest CAGR during the forecast period. The North American market is

driven by the U.S. centralized healthcare mandates such as Meaningful Use, ICD-10

implementation, and The Patient Protection and Affordable Care Act (PPACA). These

initiatives assist to improve the acceptance of Electronic Health Records (EHRs) and

Healthcare Information Exchange (HIE), thus improving the usage of analytics to influence

the generated data. The European market is expected to be the second largest market,

growing at a lower rate mainly due to the economic crisis.

The Asian market is fairly new to medical analytics, however, the increasing IT skills,

outsourcing trend and healthcare IT adoption will force this market to grow. Among the Rest

of the world regions Middle East and North African regions are found to be the strongly

emerging lead by the favorable investments in the healthcare IT sector. The majority of the

growth is driven by the factors such as government funding, technological standards, rising

healthcare awareness/standards, extending social health insurance, and medical tourism.



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For instance, South Africa approximately spent $1.7 billion extra in the recent years in order

to enhance the quality care.

Cerner Corporation (U.S.) is the largest player in the Healthcare Analytics market with a

share of XX%, followed by McKesson Corporation (U.S.) and Epic (U.S.) accounting for

XX% and XX% shares respectively. The Healthcare Analytics market is consolidated, with

major players accounting for more than 80% market share in 2013. Top ten major players

are Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic (U.S.), IBM Corporation

(U.S.), Optum (U.S.), Oracle (U.S.), Allscripts (U.S.), MedeAnalytics (U.S.), Truven Analytics

(U.S.), and Information Builders, Inc. (U.S.).



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FIGURE 1

HEALTHCARE ANALYTICS MARKET SEGMENTATION

Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information

Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-

fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and

Industry Expert Interviews

Healthcare Analytics By Region

Global Healthcare Analytics Market

Healthcare Analytics By Type

Payers

Providers

HIE

Others

North America

Europe

Asia-Pacific

RoW

On-premise

model

Web-hosted

model

Cloud-based

model

Descriptive

Analytics

Predictive

Analytics

Prescriptive

Analytics

Clinical Data

Analytics

Financial/Revenue

Analytics

Operational

Analytics

Hardware

Software

Services

Healthcare Analytics By End User

Healthcare Analytics By Component

Healthcare Analytics By Application

Healthcare Analytics By Delivery Mode

Research

Analytics

Others

Others Others



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1.2 RESEARCH METHODOLOGY

FIGURE 2

HEALTHCARE ANALYTICS MARKET: RESEARCH APPROACH





1.2.1 MARKET SIZE EST IMATION

The global healthcare analytics market size, its different segments and sub-segments is

analyzed using both top-down and bottom-up approaches. The market size and revenue

calculated using research methodology involves primary and secondary research of major

players in the market, factors influencing the market, market segmentation and geographical

market scenario.

Secondary research of major players include the study of their annual and financial reports,

press release while primary research involves interviews from the supply side (CEOs,

directors, strategic growth managers, international/regional marketing managers, and

• Bottom-up and Top-down approach

• Data triangulation

• Qualitative & Quantitative analysis

• Healthcare Analytics market segmentation

• Market size, CAGR and market trends validation

• Market size of sub segments and market shares of major players

• Upcoming trends and technological advancements in types,

applications and end users

• Validation of factors influencing market and regional market shares

• Technical information of Healthcare Analytic tools and components

• Strategic insights, financial revenues and competitive intelligence of

Key players

• Types, end users, and applications of healthcare analytics

• Market trends and growth scenario of sub markets and parent market

Market

Breakdown

Primary

Research

Secondary

Research



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marketing executives) and the demand side (reference laboratory heads, hospitals, and

purchase managers).

Primary and secondary sources helped in verification of percentage shares, splits, and

breakdowns. This data is consolidated with detailed inputs and presented in this report.

FIGURE 3

HEALTHCARE ANALYTICS MARKET: TOP-DOWN AND BOTTOM-UP

APPROACH





Global Healthcare IT

market

Market share of EHR, EMR, Healthcare

Analytical tools and Service providers

Regional market shares

Market share of sub

segments in regional markets

Sub segments

market size and

CAGR

Overall

market size and CAGR

Market share of the players in

the overall Healthcare AnalyticsMarket and sub markets

Top players revenue IBM Corporation (U.S.),

Truven Health Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc. (U.S.),

McKesson Corporation (U.S.),

MedeAnalytics, Inc. (U.S.), and Cerner Corporation (U.S.)

Global Healthcare IT integration

market



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FIGURE 4

HEALTHCARE ANALYTICS MARKET: FORECASTING MODEL







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1.2.2 MARKET BREAKDOWN & DATA TRIANGULATION

FIGURE 5

HEALTHCARE ANALYTICS MARKET: MARKET BREAKDOWN & DATA

TRIANGULATION





Demand & Supply

side

Payers, Providers,

Healthcare Institutions,

Major software and

service providers

Market share of Healthcare

Analytics Market in Global

HCIT market

Top -down

Primary

Research

Bottom -up

Secondary

Research

Healthcare Analytics

Market

(~ Bn)

(2013)

•Financial/Annual reports

•Investor Presentations

•SEC filings

•Scientific Journals

•Organizations/

Associations & Groups

Major player analysis

of key players: IBM

Corporation, Truven

Health Analytics, Inc.,

Oracle Corporation,

Optum, Inc.



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2 EXECUTIVE SUMMARY `

FIGURE 6

GLOBAL HEALTHCARE ANALYTICS MARKET SHARE,

BY GEOGRAPHY (2013)





Market Share (2013) %

North AmericaEurope

Asia

RoW

2%

3%

4%

5%

6%

7%

8%

9%

10%

0% 20% 40% 60% 80% 100%

CA

GR

% (

2012

–20

20)



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TABLE 1

GLOBAL HEALTHCARE ANALYTICS MARKET REVENUE,

BY GEOGRAPHY, (2012-2020) ($MN)

Region 2012 2013 2014 2020 CAGR%

(2014-2020)

North America XX XX XX XX XX

Europe XX XX XX XX XX

Asia-Pacific XX XX XX XX XX

RoW XX XX XX XX XX

Total XX XX XX XX XX





TABLE 2


BY TOOL TYPE (2012-2020) ($MN)

Type 2012 2013 2014 2020 CAGR %

(2014-2020)

Descriptive Analytics XX XX XX XX XX

Predictive Analytics XX XX XX XX XX

Prescriptive Analytics XX XX XX XX XX








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TABLE 3


BY APPLICATION (2012-2020) ($MN)

Application 2012 2013 2014 2020 CAGR %

(2014-2020)

Clinical Data Analytics XX XX XX XX XX

Financial Analytics XX XX XX XX XX

Operational Analytics XX XX XX XX XX

Research Analytics XX XX XX XX XX

Others XX XX XX XX XX








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