The global healthcare business intelligence market size is
expected to reach USD 10.64 billion by 2025, registering a CAGR of 12.8% during
the forecast period, according to a new report by Grand View Research, Inc.
Increase in adoption of data-driven decision making, emergence of cloud based
business intelligence (BI) solutions for healthcare industry, increased focus
to reduce spending, and emergence of mobile-based healthcare BI solutions are
the key factors contributing to the growth. Growing requirement of business
intelligence tools to reduce costs for operational performance, claims, and
clinical analysis is another major factor positively impacting the market.
Factors, such as the constantly increasing volume
of digital information and data sources, complexity of data generated in
healthcare organizations, coupled with growing need for the advanced business
intelligence solutions to support decision-making are boosting the demand for
business intelligence solutions and services. The massive amounts of unstructured
and structured data generated by medical organizations and institutions is
critical to manage, thus there is huge requirement for advanced healthcare BI
software by hospitals and other healthcare organizations.
In order to gain insights about patient care and
satisfaction, clinical operations, labor distribution, physician practices, and
administration and management; hospitals and other healthcare facilities
require data visualization and predictive modeling tools, which in turn is
increasing demand for healthcare business intelligence software among these end
users.
Increasing adoption of cloud-based healthcare BI
software solutions coupled with high dependency of healthcare on digital
technology to operate functions of a complex healthcare system is further
boosting the adoption of BI software over the past years. For instance, KenSci
Clinical Analytics, a platform designed by Microsoft to predict clinical and
operational risk involved in a healthcare facility to improve health outcomes
and reduce operational costs.
Browse full research report on Healthcare
Business Intelligence Market: https://www.grandviewresearch.com/industry-analysis/healthcare-business-intelligence-market
Further key
findings from the report suggest:
- Software emerged as the largest product segment with a revenue
share of 68.4% in 2018
- Cloud-based mode of delivery accounted for the largest revenue
share in 2018 and is expected to register the fastest CAGR over the
forecast period
- Healthcare payers emerged as the leading end use segment, however
healthcare providers end use segment is expected to grow at a significant
CAGR over the forecast period
- North America accounted for the largest share of the healthcare
business intelligence market due to increased implementation of healthcare
BI solutions and services by the providers to offer enhanced patient care
and reduced healthcare expenses
- Market players, such Oracle Corporation; SAP; Microsoft;
Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; and
Looker Data Sciences, Inc. are focused on increasing collaboration with
powerful analytics platform providers to gain competitive edge in the
market
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/healthcare-business-intelligence-market/request/rs1
Grand
View Research has segmented the global healthcare business intelligence market
on the basis of component, mode of delivery, application, and end use, and
region:
Healthcare
Business Intelligence Component Outlook (Revenue, USD Million, 2014 -
2025)
- Software
- Services
Healthcare
Business Intelligence Mode of Delivery Outlook (Revenue, USD Million, 2014
- 2025)
- On-premise
- Cloud-based
- Hybrid
Healthcare
Business Intelligence Application Outlook (Revenue, USD Million, 2014 -
2025)
- Financial Analysis
- Claims Processing
- Revenue Cycle
Management
- Payment Integrity
and Fraud, Waste, & Abuse (FWA)
- Risk Adjustment and
Risk Assessment
- Operational Analysis
- Supply Chain
Analysis
- Workforce Analysis
- Strategic Analysis
- Clinical Analysis
- Quality Improvement
and Clinical Benchmarking
- Clinical Decision
Support
- Regulatory
Reporting and Compliance
- Comparative
Analytics/Effectiveness
- Precision Health
- Patient Care
Healthcare
Business Intelligence End Use Outlook (Revenue, USD Million, 2014 - 2025)
- Payers
- Healthcare Providers
- Healthcare
Manufacturers
Healthcare
Business Intelligence Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East &
Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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