Healthcare Analytics Market worth $133.19 billion by 2029

As per the recently published report by MarketsandMarket™,The report "Healthcare Analytics Market by Type (Predictive, Diagnostic), Application (Claim, RCM, Fraud, Precision Health, RWE, Imaging, Supply Chain, Workforce, Population Health), EndUser (Payer, Hospital, ACO, ASC, Govt, Clinic), & Region: Global Forecast to 2029", is expected to reach USD 133.19 billion by 2029 from USD 44.83 billion in 2024, at a CAGR of 24.3% during 2024–2029.

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• 516     Market Data Tables
• 55       Figures
• 410     Pages and in-depth TOC on "Healthcare Analytics Market - Global Forecast to 2029”

Some of the prominent key players are:

• IBM (US), SAS Institute Inc. (US),
• Optum, Inc. (US),
• Cerner Corporation (US),
• Allscripts Healthcare, LLC (US),
• Cotiviti, Inc. (US),
• CitiusTech Inc (US), and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Healthcare Analytics Market.

• The growing adoption of Electronic Health Records (EHR), coupled with enhanced decision-making capabilities and ongoing technological advancements, is significantly driving the demand for clinical analytics. Financial analytics emerged as the fastest growing segment, accounting for the second-largest share of the healthcare analytics market.
• Healthcare providers, including hospitals and health systems, are increasingly adopting healthcare analytics to improve patient care and operational efficiency. This shift is driven by the need to effectively manage massive amounts of patient data and improve decision-making using real-time insights.
• By component type, the healthcare analytics market is segmented into services and solutions segment. The service segment accounted for the largest market share in 2023. 
• Based on application, the Healthcare Analytics market is segmented into financial analytics, clinical analytics, operational & administrative analytics, and population health analytics. 
• Rising healthcare costs in North America, driven by increased service demand, costly treatments, and operational inefficiencies, have created an urgent need for healthcare analytics. In 2023, the United States spent nearly USD 4.8 trillion on healthcare, with 93.1% of the population covered.

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The growth of the market is primarily driven by increasing initiatives to boost EHR adoption, growing demand for data-driven decision-making, cost management, and operational efficiency, regulatory mandates aimed at improving value-based care, and rising venture capital investments in healthcare analytics startups. Furthermore, the integration of advanced technological solutions, such as generative AI, into healthcare analytics systems is accelerating market growth.