Develop Rising Healthcare Costs and the Need for Cost Containment has Propelled the Growth of the Healthcare Predictive Analytics Market in the APAC Region!

APAC is experiencing rapid growth in the healthcare predictive analytics market due to factors such as a large population, rising healthcare expenditures, and increasing adoption of digital health technologies contribute to the region’s growth. APAC countries are investing in healthcare infrastructure and expanding their digital healthcare capabilities, resulting in a significant volume of health data.For instance, in June 2021, Epillo Health Systems launched integrated clinical solutions for patients and clinicians. The new solution consists of EHR systems for clinics and pharmacies and a mobile app for patients which is available in Singapore, Malaysia, India, and the U.S.The growth opportunities in APAC include the use of predictive analytics to address population health challenges, such as managing chronic diseases, predicting disease outbreaks, and improving healthcare accessibility and equity. Moreover, the increasing prevalence of chronic diseases in the region drives the demand for predictive analytics to support early detection, intervention, and disease management.

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Further,the APAC healthcare predictive analytics market is expected to grow at a strong CAGR of 24.6% during the forecast period (2022-2030). APAC is anticipated to emerge as the fastest-growing Healthcare predictive analytics market owing to the technological advancements in data science, machine learning, and artificial intelligence that have empowered healthcare predictive analytics, enabling more sophisticated analysis of complex healthcare data and the development of accurate prediction models.

FIG. 1 APAC Healthcare Predictive Analytics Market Revenue (2020-2030) – USD Mn

Based on the mode of delivery, the market is segmented into on-premises and cloud-based. The on-premises category is to witness a higher CAGR during the forecast period owing to the low deployment cost associated with the on-premises solutions is one of the key contributing factors for the growth in the market. However, on-cloud deployment is expected to witness a robust CAGR in the forthcoming years due to the widespread adoption of EHR, surging emphasis on digitization, and an increase in funding for innovative delivery solutions. As per IDC, “Global spending on cloud services would surpass USD 1 trillion in 2024.

Based on end-user, the healthcare predictive analytics market has been classified into healthcare providers, pharmaceutical industry, and others. The military and defense category are to witness higher adoption of healthcare predictive analytics during the forecast period. This is mainly due to healthcare organizations aim to deliver high-quality and cost-effective care, they increasingly recognize the value of predictive analytics in improving patient outcomes, optimizing resource allocation, and enhancing operational efficiency. Also, healthcare providers are investing in advanced analytics platforms and hiring data scientists to leverage their vast amount of patient data, electronic health records, and clinical data to generate actionable insights. For instance, more than 19,000 hospitals were present in Europe in 2020, according to the European Hospital Register. It is anticipated that the demand for advanced healthcare solutions, including healthcare analytics, will rise as the region’s hospital population continues to grow.

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Global Healthcare Predictive Analytics Market Segmentation

Market Insight, by Application

· Clinical Data Analytics

· Financial Data Analytics

· Research Data Analytics

· Operations Management

· Others

Market Insights, by Mode of Delivery

· On-premises

· Cloud-based

Market Insights, by End-User

· Healthcare Provider

· Pharmaceutical Industry

· Others

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o UK

o France

o Italy

o Spain

o Rest of Europe

· APAC

o China

o India

o Japan

o Rest of APAC

· Rest of the World

Top Company Profiles

· Cloud Software Group, Inc.

· Oracle

· Health Catalyst

· Verisk Analytics, Inc.

· MCKESSON CORPORATION

· SAS Institute Inc.

· Allscripts Healthcare, LLC

· Optum, Inc.

· MedeAnalytics, Inc.

· IBM