Abstract
Summary
Global Healthcare Business Intelligence Market is valued approximately USD 6.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2022-2029. Healthcare business intelligence is the aggregation, analysis and use of clinical, financial, operation and non-traditional data captured from internal and external sources of the healthcare settings to make effective decision making. It has the power to positively impact patient care delivery, health outcomes, and business operations. It has the power to positively impact patient care delivery, health outcomes, and business operations. Emergence of big data in the healthcare industry, increasing demand to curtail healthcare expenditure and improve patient outcome, rising number of patient registries and growing adoption of data-driven decision making are the few factors responsible for high CAGR of the market over the forecast period. For instance, as per the Evariant, Inc. big data is assisting the healthcare sector to transform the industry, paving the way for a more efficient and effective future. The big data is expected to add USD 300 million per year to the USD 2.8 trillion healthcare industry in 2019.
The healthcare BI market would show rapid expansion due to the government incentives to improve EHR adoption and the amount of patient registries, and the rise of big data in the health industry. The Government of India focused on digitalizing its healthcare, including Electronic Health Records (EHR), in order to provide better patient records management, smooth coordination between healthcare providers, and improved healthcare research, according to the article posted by the Biomedical Journal of Scientific & Technical Research in January 2021. To establish an India-wide digital health record system, several national-level initiatives are being developed, such as the National Digital Health Blueprint. Moreover, growing demand for cloud-based healthcare BI solutions, increasing focus on value-based medicine and growing use of BI in precision and personalized medicines are the few likely to create lucrative growth opportunity to the market in the upcoming years. However, high investment requirement and lack of flexibility are few factors anticipated to hamper the growth of global Healthcare Business Intelligence market during the forecast period 2022-2029.
The key regions considered for the Global Healthcare Business Intelligence Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the rising implementation of healthcare intelligence solutions and services by healthcare providers to offer enhanced quality care and inferior healthcare expenses. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as rising investment in the healthcare infrastructure and increasing demand for EHR adoption in the region would create lucrative growth prospects for the Healthcare Business Intelligence market across Asia Pacific region.
Major market player included in this report are:
Microsoft
IBM
Oracle
SAP
SAS Institute
Tableau Software
MicroStrategy
Qlik Technologies
Sisense
Information Builders
Recent Developments in the Market:
In Jan. 2022, CareCloud Inc., one of the leaders in healthcare technology solutions for health care and health systems worldwide, announced the introduction of its business intelligence platform, PrecisionBI Lite (PBI Lite), to increase the company addressable market and broaden powerful, financial analysis and statistical insights to small, independent practises.
Global Healthcare Business Intelligence Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Function, Application, Deployment Model, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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.
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 product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Platforms
Software
Service
By Function:
Olap & Visualization
Performance Management
Query and Reporting
By Application:
Financial Analysis
Clinical Analysis
Operational Analysis
By Deployment Model:
On-premise Model
Hybrid Model
Cloud-Based Model
By End-User:
Healthcare Payer
Healthcare Provider
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
Table of Contents
1 Executive Summary
1.1 Market Snapshot
1.2 Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1 Healthcare Business Intelligence Market, by Region, 2019-2029 (USD Billion)
1.2.2 Healthcare Business Intelligence Market, by Component, 2019-2029 (USD Billion)
1.2.3 Healthcare Business Intelligence Market, by Function, 2019-2029 (USD Billion)
1.2.4 Healthcare Business Intelligence Market, by Application, 2019-2029 (USD Billion)
1.2.5 Healthcare Business Intelligence Market, by Deployment Model, 2019-2029 (USD Billion)
1.2.6 Healthcare Business Intelligence Market, by End-User, 2019-2029 (USD Billion)
1.3 Key Trends
1.4 Estimation Methodology
1.5 Research Assumption
2 Global Healthcare Business Intelligence Market Definition and Scope
2.1 Objective of the Study
2.2 Market Definition & Scope
2.2.1 Scope of the Study
2.2.2 Industry Evolution
2.3 Years Considered for the Study
2.4 Currency Conversion Rates
3 Global Healthcare Business Intelligence Market Dynamics
3.1 Healthcare Business Intelligence Market Impact Analysis (2019-2029)
3.1.1 Market Drivers
- 3.1.1.1 Rising Government Initiatives for Healthcare Digitalization
- 3.1.1.2 Emergence of Big Data in the Healthcare Industry
- 3.1.1.3 Rising number of patient registries
3.1.2 Market Challenges
- 3.1.2.1 High implementation cost
3.1.3 Market Opportunities
- 3.1.3.1 Growing use of bi in precision and personalized medicines
4 Global Healthcare Business Intelligence Market Industry Analysis
4.1 Porter’s 5 Force Model
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitutes
4.1.5 Competitive Rivalry
4.2 Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3 PEST Analysis
4.3.1 Political
4.3.2 Economical
4.3.3 Social
4.3.4 Technological
4.4 Top investment opportunity
4.5 Top winning strategies
4.6 Industry Experts Prospective
4.7 Analyst Recommendation & Conclusion
5 Risk Assessment: COVID-19 Impact
5.1 Assessment of the overall impact of COVID-19 on the industry
5.2 Pre COVID-19 and post COVID-19 Market scenario
6 Global Healthcare Business Intelligence Market, by Component
6.1 Market Snapshot
6.2 Global Healthcare Business Intelligence Market by Component, Performance - Potential Analysis
6.3 Global Healthcare Business Intelligence Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
6.4 Healthcare Business Intelligence Market, Sub Segment Analysis
6.4.1 Platforms
6.4.2 Software
6.4.3 Service
7 Global Healthcare Business Intelligence Market, by Function
7.1 Market Snapshot
7.2 Global Healthcare Business Intelligence Market by Function, Performance - Potential Analysis
7.3 Global Healthcare Business Intelligence Market Estimates & Forecasts by Function 2019-2029 (USD Billion)
7.4 Healthcare Business Intelligence Market, Sub Segment Analysis
7.4.1 OLAP & Visualization
7.4.2 Performance Management
7.4.3 Query and Reporting
8 Global Healthcare Business Intelligence Market, by Application
8.1 Market Snapshot
8.2 Global Healthcare Business Intelligence Market by Application, Performance - Potential Analysis
8.3 Global Healthcare Business Intelligence Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4 Healthcare Business Intelligence Market, Sub Segment Analysis
8.4.1 Financial Analysis
8.4.2 Clinical Analysis
8.4.3 Operational Analysis
9 Global Healthcare Business Intelligence Market, by Deployment Model
9.1 Market Snapshot
9.2 Global Healthcare Business Intelligence Market by Deployment Model, Performance - Potential Analysis
9.3 Global Healthcare Business Intelligence Market Estimates & Forecasts by Deployment Model 2019-2029 (USD Billion)
9.4 Healthcare Business Intelligence Market, Sub Segment Analysis
9.4.1 On-premise Model
9.4.2 Hybrid Model
9.4.3 Cloud-Based Model
10 Global Healthcare Business Intelligence Market, by End-User
10.1 Market Snapshot
10.2 Global Healthcare Business Intelligence Market by End-User, Performance - Potential Analysis
10.3 Global Healthcare Business Intelligence Market Estimates & Forecasts by End-User 2019-2029 (USD Billion)
10.4 Healthcare Business Intelligence Market, Sub Segment Analysis
10.4.1 Healthcare Payer
10.4.2 Healthcare Provider
11 Global Healthcare Business Intelligence Market, Regional Analysis
11.1 Healthcare Business Intelligence Market, Regional Market Snapshot
11.2 North America Healthcare Business Intelligence Market
11.2.1 U.S. Healthcare Business Intelligence Market
- 11.2.1.1 Component breakdown estimates & forecasts, 2019-2029
- 11.2.1.2 Function breakdown estimates & forecasts, 2019-2029
- 11.2.1.3 Application breakdown estimates & forecasts, 2019-2029
- 11.2.1.4 Deployment Model breakdown estimates & forecasts, 2019-2029
- 11.2.1.5 End-User breakdown estimates & forecasts, 2019-2029
11.2.2 Canada Healthcare Business Intelligence Market
11.3 Europe Healthcare Business Intelligence Market Snapshot
11.3.1 U.K. Healthcare Business Intelligence Market
11.3.2 Germany Healthcare Business Intelligence Market
11.3.3 France Healthcare Business Intelligence Market
11.3.4 Spain Healthcare Business Intelligence Market
11.3.5 Italy Healthcare Business Intelligence Market
11.3.6 Rest of Europe Healthcare Business Intelligence Market
11.4 Asia-Pacific Healthcare Business Intelligence Market Snapshot
11.4.1 China Healthcare Business Intelligence Market
11.4.2 India Healthcare Business Intelligence Market
11.4.3 Japan Healthcare Business Intelligence Market
11.4.4 Australia Healthcare Business Intelligence Market
11.4.5 South Korea Healthcare Business Intelligence Market
11.4.6 Rest of Asia Pacific Healthcare Business Intelligence Market
11.5 Latin America Healthcare Business Intelligence Market Snapshot
11.5.1 Brazil Healthcare Business Intelligence Market
11.5.2 Mexico Healthcare Business Intelligence Market
11.5.3 Rest of Latin America Healthcare Business Intelligence Market
11.6 Rest of The World Healthcare Business Intelligence Market
12 Competitive Intelligence
12.1 Top Market Strategies
12.2 Company Profiles
12.2.1 Microsoft
- 12.2.1.1 Key Information
- 12.2.1.2 Overview
- 12.2.1.3 Financial (Subject to Data Availability)
- 12.2.1.4 Product Summary
- 12.2.1.5 Recent Developments
12.2.2 IBM
12.2.3 Oracle
12.2.4 SAP
12.2.5 SAS Institute
12.2.6 Tableau Software
12.2.7 MicroStrategy
12.2.8 Qlik Technologies
12.2.9 Sisense
12.2.10 Information Builders
13 Research Process
13.1 Research Process
13.1.1 Data Mining
13.1.2 Analysis
13.1.3 Market Estimation
13.1.4 Validation
13.1.5 Publishing
13.2 Research Attributes
13.3 Research Assumption