High Mkt Cap
#13 of 49
$25 B
Low CAGR
#33 of 49
18 %
Healthcare analytics involves using data to improve clinical outcomes, reduce costs, and streamline operations. Analytics can help predict patient outcomes, identify high-risk patients who may need extra care, and optimize staffing levels. By 2025, the analytics market is projected to be worth over $84 billion.
0 FDA approvals in Healthcare Analytics
Improved Decision Making
"Healthcare analytics provide insights that can improve decision making at all levels of the system, from individual patient care to population management." - Healthcare Information and Management Systems Society, October 2021
Reduced Costs
"Analytics can help identify areas of waste and inefficiency in delivery, leading to cost savings... Additionally, analytics can help prevent unnecessary hospital readmissions, which can be a significant source of costs." - Healthcare Dive, November 2021
Improved Quality of Care
"Analytics can help identify areas where quality of care can be improved, such as reducing medical errors, improving patient outcomes, and optimizing clinical workflows." - HealthITAnalytics, January 2022
Investor sentiment
MarketsandMarketsMay 2021
"...The global analytics market is expected to grow at a CAGR of over 25% during the forecast period 2021-2026, driven by the increasing adoption of analytics solutions for population management, clinical decision support, and financial management, and the growing need for data-driven and patient-centric services."
ResearchAndMarketsJune 2021
"...The global analytics market is expected to reach $84.2 billion by 2027, driven by the increasing adoption of analytics solutions for population management, clinical decision support, and financial management, and the growing need for real-time and predictive analytics."
Sector leaders
IBM Watson Health
IBM Watson Health has developed various analytics tools to improve outcomes, including their Explorys platform for population management, and their Watson Health Imaging solution for medical imaging analysis. In 2020, they announced a partnership with pharmaceutical company Novartis to use AI and advanced analytics to develop better treatments for breast cancer.
Optum
Optum, a subsidiary of UnitedHealth Group, provides a range of analytics solutions for organizations, including claims analytics, risk adjustment and quality measurement, and clinical analytics. Their OptumIQ platform uses machine learning and other AI technologies to help organizations improve outcomes and reduce costs.
SAS Institute
SAS Institute provides a range of analytics software solutions for the industry, including tools for predictive modeling, fraud detection, and quality measurement. Their SAS Health Analytics Framework is designed to help organizations integrate data from a variety of sources and analyze it in real time.
