2014
IQ4I Research & Consultancy Pvt. Ltd. [email protected]
www.iq4i.com
[TOOL TYPE (Descriptive, Predictive and Prescriptive Analytics), APPLICATION (Clinical Data Analytics, Financial Analytics, Administrative Analytics, Research Analytics and Others), COMPONENTS (Hardware, Software, Services and Others), DELIVERY MODE (On-premise model, Web-hosted model, Cloud-based model and Others), VENDORS (Cross Industry, Healthcare Analytics specific and EMR & HER Vendors), END USERS (Payers, Providers, Healthcare Information Exchange and Others (ACO’s, IDN’s and Employers), REGION (North America, Europe, Asia-Pacific and Rest of the World)]
Healthcare Analytics Global Market
– Forecast to 2020
Copyright © 2014 IQ4I
All Rights Reserved. This document contains highly confidential
information and is the sole property of IQ4I. No part of it may be
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approval of IQ4I.
IQ4I Research & Consultancy Pvt. Ltd. Page 15
Healthcare Analytics Global Market
–Forecast to 2020
1.1 REPORT DESCRIPTION
The global healthcare analytics market is expected to reach $20.8 billion by 2020 and is
mainly driven by factors such as federal healthcare mandates, emergence of big data and
advancements in analytical technologies, rising incidence of ageing population and
pervasiveness of chronic and infectious diseases, preference for paperless environment
propels growth, digitalization of world. However, few factors such as lack of skilled labor with
analytical skills, lack of patient data confidentiality and transparency, functional gap between
payers and providers, increase in governmental regulation, and reimbursement issues are
hampering the market growth.
This report studies the global healthcare analytics market over the forecast period 2014 to
2020. The market is expected to grow at a CAGR of more than XX% during the forecast
period. Factors such as increasing healthcare IT adoption, centralized healthcare mandates
across the globe, emerging fields of predictive, prescriptive analytics and venture capital
investments are driving the market growth. In addition, the digitization of world commerce,
the emergence of big data, and increase in the number of advanced technologies are
providing the growth opportunities. On the other hand, some factors such as lack of skilled
labor with analytical skills, data securing, and patient data privacy are hampering the growth
of the market.
In 2013, the North America accounted for the largest share of 58.5% in 2013 and also
registered the highest CAGR during the forecast period. The North American market is
driven by the U.S. centralized healthcare mandates such as Meaningful Use, ICD-10
implementation, and The Patient Protection and Affordable Care Act (PPACA). These
initiatives assist to improve the acceptance of Electronic Health Records (EHRs) and
Healthcare Information Exchange (HIE), thus improving the usage of analytics to influence
the generated data. The European market is expected to be the second largest market,
growing at a lower rate mainly due to the economic crisis.
The Asian market is fairly new to medical analytics, however, the increasing IT skills,
outsourcing trend and healthcare IT adoption will force this market to grow. Among the Rest
of the world regions Middle East and North African regions are found to be the strongly
emerging lead by the favorable investments in the healthcare IT sector. The majority of the
growth is driven by the factors such as government funding, technological standards, rising
healthcare awareness/standards, extending social health insurance, and medical tourism.
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Healthcare Analytics Global Market
–Forecast to 2020
For instance, South Africa approximately spent $1.7 billion extra in the recent years in order
to enhance the quality care.
Cerner Corporation (U.S.) is the largest player in the Healthcare Analytics market with a
share of XX%, followed by McKesson Corporation (U.S.) and Epic (U.S.) accounting for
XX% and XX% shares respectively. The Healthcare Analytics market is consolidated, with
major players accounting for more than 80% market share in 2013. Top ten major players
are Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic (U.S.), IBM Corporation
(U.S.), Optum (U.S.), Oracle (U.S.), Allscripts (U.S.), MedeAnalytics (U.S.), Truven Analytics
(U.S.), and Information Builders, Inc. (U.S.).
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Healthcare Analytics Global Market
–Forecast to 2020
FIGURE 1
HEALTHCARE ANALYTICS MARKET SEGMENTATION
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
Healthcare Analytics By Region
Global Healthcare Analytics Market
Healthcare Analytics By Type
Payers
Providers
HIE
Others
North America
Europe
Asia-Pacific
RoW
On-premise
model
Web-hosted
model
Cloud-based
model
Descriptive
Analytics
Predictive
Analytics
Prescriptive
Analytics
Clinical Data
Analytics
Financial/Revenue
Analytics
Operational
Analytics
Hardware
Software
Services
Healthcare Analytics By End User
Healthcare Analytics By Component
Healthcare Analytics By Application
Healthcare Analytics By Delivery Mode
Research
Analytics
Others
Others Others
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Healthcare Analytics Global Market
–Forecast to 2020
1.2 RESEARCH METHODOLOGY
FIGURE 2
HEALTHCARE ANALYTICS MARKET: RESEARCH APPROACH
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
1.2.1 MARKET SIZE EST IMATION
The global healthcare analytics market size, its different segments and sub-segments is
analyzed using both top-down and bottom-up approaches. The market size and revenue
calculated using research methodology involves primary and secondary research of major
players in the market, factors influencing the market, market segmentation and geographical
market scenario.
Secondary research of major players include the study of their annual and financial reports,
press release while primary research involves interviews from the supply side (CEOs,
directors, strategic growth managers, international/regional marketing managers, and
• Bottom-up and Top-down approach
• Data triangulation
• Qualitative & Quantitative analysis
• Healthcare Analytics market segmentation
• Market size, CAGR and market trends validation
• Market size of sub segments and market shares of major players
• Upcoming trends and technological advancements in types,
applications and end users
• Validation of factors influencing market and regional market shares
• Technical information of Healthcare Analytic tools and components
• Strategic insights, financial revenues and competitive intelligence of
Key players
• Types, end users, and applications of healthcare analytics
• Market trends and growth scenario of sub markets and parent market
Market
Breakdown
Primary
Research
Secondary
Research
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Healthcare Analytics Global Market
–Forecast to 2020
marketing executives) and the demand side (reference laboratory heads, hospitals, and
purchase managers).
Primary and secondary sources helped in verification of percentage shares, splits, and
breakdowns. This data is consolidated with detailed inputs and presented in this report.
FIGURE 3
HEALTHCARE ANALYTICS MARKET: TOP-DOWN AND BOTTOM-UP
APPROACH
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
Global Healthcare IT
market
Market share of EHR, EMR, Healthcare
Analytical tools and Service providers
Regional market shares
Market share of sub
segments in regional markets
Sub segments
market size and
CAGR
Overall
market size and CAGR
Market share of the players in
the overall Healthcare AnalyticsMarket and sub markets
Top players revenue IBM Corporation (U.S.),
Truven Health Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc. (U.S.),
McKesson Corporation (U.S.),
MedeAnalytics, Inc. (U.S.), and Cerner Corporation (U.S.)
Global Healthcare IT integration
market
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Healthcare Analytics Global Market
–Forecast to 2020
FIGURE 4
HEALTHCARE ANALYTICS MARKET: FORECASTING MODEL
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
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Healthcare Analytics Global Market
–Forecast to 2020
1.2.2 MARKET BREAKDOWN & DATA TRIANGULATION
FIGURE 5
HEALTHCARE ANALYTICS MARKET: MARKET BREAKDOWN & DATA
TRIANGULATION
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
Demand & Supply
side
Payers, Providers,
Healthcare Institutions,
Major software and
service providers
Market share of Healthcare
Analytics Market in Global
HCIT market
Top -down
Primary
Research
Bottom -up
Secondary
Research
Healthcare Analytics
Market
(~ Bn)
(2013)
•Financial/Annual reports
•Investor Presentations
•SEC filings
•Scientific Journals
•Organizations/
Associations & Groups
Major player analysis
of key players: IBM
Corporation, Truven
Health Analytics, Inc.,
Oracle Corporation,
Optum, Inc.
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Healthcare Analytics Global Market
–Forecast to 2020
2 EXECUTIVE SUMMARY `
FIGURE 6
GLOBAL HEALTHCARE ANALYTICS MARKET SHARE,
BY GEOGRAPHY (2013)
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
Market Share (2013) %
North AmericaEurope
Asia
RoW
2%
3%
4%
5%
6%
7%
8%
9%
10%
0% 20% 40% 60% 80% 100%
CA
GR
% (
2012
–20
20)
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Healthcare Analytics Global Market
–Forecast to 2020
TABLE 1
GLOBAL HEALTHCARE ANALYTICS MARKET REVENUE,
BY GEOGRAPHY, (2012-2020) ($MN)
Region 2012 2013 2014 2020 CAGR%
(2014-2020)
North America XX XX XX XX XX
Europe XX XX XX XX XX
Asia-Pacific XX XX XX XX XX
RoW XX XX XX XX XX
Total XX XX XX XX XX
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
TABLE 2
GLOBAL HEALTHCARE ANALYTICS MARKET REVENUE,
BY TOOL TYPE (2012-2020) ($MN)
Type 2012 2013 2014 2020 CAGR %
(2014-2020)
Descriptive Analytics XX XX XX XX XX
Predictive Analytics XX XX XX XX XX
Prescriptive Analytics XX XX XX XX XX
Total XX XX XX XX XX
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
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Healthcare Analytics Global Market
–Forecast to 2020
TABLE 3
GLOBAL HEALTHCARE ANALYTICS MARKET REVENUE,
BY APPLICATION (2012-2020) ($MN)
Application 2012 2013 2014 2020 CAGR %
(2014-2020)
Clinical Data Analytics XX XX XX XX XX
Financial Analytics XX XX XX XX XX
Operational Analytics XX XX XX XX XX
Research Analytics XX XX XX XX XX
Others XX XX XX XX XX
Total XX XX XX XX XX
Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information
Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-
fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), HIMSS, OECD, WHO, eHI and
Industry Expert Interviews
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Healthcare Analytics Global Market
–Forecast to 2020
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