Healthcare Prescriptive Analytics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 18.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Healthcare Prescriptive Analytics Market Analysis
Prescriptive analytics is the future of healthcare analytics. It goes beyond predicting future outcomes to suggest alternative options at hand and then demonstrates the implication of each option to make the decision-making process more rational, streamlined, and optimized. The major factors for the growth of the market include integration of big data in healthcare, growing need of increasing efficiency in healthcare sector, and increasing demand to curtail healthcare costs. To predict the future, we need data from the past as well as the present, and analyzing the data being generated at the same time makes this process complex and machine intensive. Additionally, unnecessary healthcare cost, can also be reduced by analytics. Hence, the usage of prescriptive analytics at various levels to curb unnecessary expenditures has been very helpful in improving the adoption rate for the technology, and the trend is expected to continue during the forecast period.
Healthcare Prescriptive Analytics Market Trends
This section covers the major market trends shaping the Healthcare Prescriptive Analytics Market according to our research experts:
Cloud Based Segment is Expected to Show Better Growth in the Forecast Years
Based on Deployment, it is segmented into on-premise, and cloud-based. The cloud-based segment is expected to show better growth during the forecast period, owing to the Increasing adoption of cloud platforms, cost advantage, and availability. It maintains and analyzes the huge amount of data among various industries. The prescriptive analytics market is driven by the increasing need for real-time accessibility of structured and unstructured data to forecast outcomes for better decision making. In addition, an increasing rate of cyber-crimes resulted in an increasing need for crime detection and prevention, which is expected to fuel the market growth.
North America Dominates the Healthcare Prescriptive Analytics Market
The healthcare infrastructure in the United States is experiencing positive trends in the prescriptive analytics domain, owing to factors such as increased internet penetration and technological advancements. Thus, the rising demand of advanced technologies such as Internet of Thing (IoT) and big data across various industries and organization is expected to enhance the growth of the studied market.
Healthcare Prescriptive Analytics Industry Overview
The global players in the healthcare prescriptive analytics market are – IBM, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation, Medeanalytics, Inc, Optum Inc, Oracle Corporation, SAS Institute Inc. and Verisk Analytics, Inc.
Healthcare Prescriptive Analytics Market Leaders
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IBM
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Allscripts Healthcare Solutions
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Cerner Corporation
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Mckesson Corporation
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Oracle Corporation
*Disclaimer: Major Players sorted in no particular order
Healthcare Prescriptive Analytics Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Integration of Big Data in Healthcare
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4.2.2 Growing Need of Increasing Efficiency in Healthcare Sector
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4.2.3 Increasing Demand to Curtail Healthcare Costs
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4.3 Market Restraints
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4.3.1 Data Security and Privacy Concerns
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4.3.2 Lack of Properly Trained IT Professionals in Healthcare
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Clinical Data Analytics
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5.1.2 Financial Data Analytics
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5.1.3 Administrative Data Analytics
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5.1.4 Research Data Analytics
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5.2 By Product
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5.2.1 Hardware
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5.2.2 Software and Services
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5.3 By Deployment
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5.3.1 On-premise
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5.3.2 Cloud-based
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Mexico
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Italy
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5.4.2.5 Spain
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5.4.2.6 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Australia
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5.4.3.5 South Korea
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5.4.3.6 Rest of Asia-Pacific
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5.4.4 Middle-East and Africa
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5.4.4.1 GCC
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5.4.4.2 South Africa
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5.4.4.3 Rest of Middle-East and Africa
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5.4.5 South America
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5.4.5.1 Brazil
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5.4.5.2 Argentina
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5.4.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Allscripts Healthcare Solutions
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6.1.2 Cerner Corporation
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6.1.3 IBM
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6.1.4 Mckesson Corporation
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6.1.5 Medeanalytics, Inc
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6.1.6 Optum Inc
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6.1.7 Oracle Corporation
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6.1.8 SAS Institute Inc.
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6.1.9 Verisk Analytics, Inc
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Healthcare Prescriptive Analytics Industry Segmentation
As per the scope of the report, Prescriptive analytics is a part of advanced analytics that is used for making an optimum decision by considering all the situation and available resources. These comprehensively analyze the data to determine the best possible outcome and recommend a course of action.
| By Application | |
| Clinical Data Analytics | |
| Financial Data Analytics | |
| Administrative Data Analytics | |
| Research Data Analytics |
| By Product | |
| Hardware | |
| Software and Services |
| By Deployment | |
| On-premise | |
| Cloud-based |
| Geography | ||||||||
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Healthcare Prescriptive Analytics Market Research FAQs
What is the current Healthcare Prescriptive Analytics Market size?
The Healthcare Prescriptive Analytics Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)
Who are the key players in Healthcare Prescriptive Analytics Market?
IBM, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation and Oracle Corporation are the major companies operating in the Healthcare Prescriptive Analytics Market.
Which is the fastest growing region in Healthcare Prescriptive Analytics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Healthcare Prescriptive Analytics Market?
In 2024, the North America accounts for the largest market share in Healthcare Prescriptive Analytics Market.
What years does this Healthcare Prescriptive Analytics Market cover?
The report covers the Healthcare Prescriptive Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Healthcare Prescriptive Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Healthcare Prescriptive Analytics Industry Report
Statistics for the 2024 Healthcare Prescriptive Analytics market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Healthcare Prescriptive Analytics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
