Healthcare Data Science Market: Current Analysis and Forecast (2020-2026)

Healthcare Data Science Market: Current Analysis and Forecast (2020-2026)

Emphasis on Technology Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Cognitive Analytics), Component (Hardware, Software, Services), Delivery Model (On-Demand Model, On-Premise Model), Application (Clinical Analytics, Financial Analytics, Operational Analytics, Population Health Analytics, Others), End-user (Hospitals & Clinics, Finance & Insurance Agencies, Research Organizations) and Region/Country

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Published: Dec-2019

Pages:XX

Table:XX

Figure:XX

Report ID:UMHE20148

The medicine and healthcare industry have heavily utilized Data Science for the improving lifestyle of patients and predicting diseases at an early stage. Furthermore, with advancements in medical image analysis, it is possible for the doctors to find out microscopic tumors that were otherwise hard to find. Therefore, data science has revolutionized healthcare and the medical industry in large ways. The data analytics is driving medical science to a new level from computerizing medical records to drug discovery and genetic disorders exploration. Both the healthcare and data science are often linked through finances as the industry attempts to reduce its expenses with the help of large amounts of data. Currently, most Americans get health coverage through private health insurance. Small and large employers offer fully insured group plans or self-funded group plans. Based on data from the Census Bureau for 2017, private health insurance covers 67% of the population, whereas government plans cover approximately 38%. Electronic medical records (EMRs), clinical trials, genetic information, billing, wearable data, care management databases, scientific articles, social media, and internet research, the healthcare industry has no shortage of data available. Since approximately 72% of people look up health information online and more patients use tools like Zocdoc to communicate with medical professionals and book appointments, it’s easier than ever before to manage customer data in one centralized location.  It costs up to US$ 2.6 billion and takes 12 years to bring a drug to market. The big data allows scientists to simulate the reaction of a drug with body proteins and different types of cells and conditions so that it has a much higher likelihood of gaining Food and Drug Administration approval and curing diverse patients

Healthcare Blockchain Adoption Current and Forecast

Insights Presented in the Report

  • Based on technology type, the market is fragmented into the descriptive analysis, predictive analysis, prescriptive analysis and cognitive analysis. It is the analysis of data collected regarding patient’s behavior and diagnoses, clinical data and other healthcare activities. The data is usually collected from electronic health records and is further used to make informed clinical and business decisions. Predictive analytics can support population health management, financial success, and better outcomes across the value-based care continuum
  • Based on the market segment by component type, the market is segmented into hardware, software and services. The analytics that helps to improve value, keep up with the competition and evolve care quality is based on 5 interconnected dimensions: outcomes, costs, patient-generated health data (PGHD), financial management and internal processes
  • Based on the market segment by delivery model type, the market is segmented into the on-demand model and on-premise model. The easy customizable nature of the on-premise solutions. Cloud-based IT infrastructure and applications are apparently providing healthcare organizations the opportunity to operate more efficiently, innovate faster. The future of the healthcare cloud is trending upward as analysts indicate that cloud is becoming the preferred choice for healthcare back-office applications, backup and disaster recovery, revenue cycle management and patient engagement
  • Based on the market segment by application, the market is segmented into clinical analytics, financial analytics, operational analytics, population health analytics and others. There is a rising focus of the payers on the early detection of fraud and reducing preventable costs to ensure the profitability
  • Based on the market segment by end-user, the market is fragmented into hospitals & clinics, finance & insurance agencies, and research organizations. Improving hospital operational efficiency through data science boils down to applying predictive analytics to improve planning and execution of key care-delivery processes, chief among them resource utilization (including infusion chairs, operating rooms, imaging equipment, and inpatient beds), staff schedules, and patient admittance and discharge
  • For better understanding on the market dynamics of Healthcare Data Science market, detailed analysis was conducted for different countries in the region including North America (United States, Canada and Rest of North America), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, Australia and Rest of APAC), Rest of World
  • Some of the major players operating in the market include McKesson, IBM Corporation, Allscripts Healthcare Solutions, Inc., Optum (UnitedHealthcare Group), GE Healthcare, Epic System Corporation, Inovalon, Health Catalyst and Flatiron Health (Roche)

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry.
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Healthcare Data Science market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

 

CHAPTER 1          MARKET INTRODUCTION                                            

                                1.1          Market Definition                           

                                1.2          Objective of the Study                 

                                1.3          Limitation                           

                                1.4          Stakeholders                    

                                1.5          Currency used in the Report

                                1.6          Scope of the Report                      

CHAPTER 2          RESEARCH METHODOLOGY OR ASSUMPTION                                   

                                2.1          Research Methodology for Healthcare Data Science Market Study

                                                2.1.1      Main objective of the Healthcare Data Science Market Study

CHAPTER 3          REGULATORY FRAMEWORK                                      

CHAPTER 4          INDUSTRY AT A GLANCE                                              

CHAPTER 5          EXECUTIVE SUMMARY                                 

CHAPTER 6          MARKET OVERVIEW                                      

                                6.1          Introduction                                                     

                                6.2          Market Drivers

                                                6.2.1      Rise in demand for analytics for population health management solution

                                                6.2.2      Increase in adoption of cloud analytics

                                                6.2.3      Shift in preference from a pay-for-service model to a value-based care model

                                6.3          Market Restraints

                                                6.3.1      Security concerns over patient information among end-users    

                                                6.3.2      Dearth of skilled professionals with enough knowledge

                                6.4          Market Opportunities

                                                6.4.1      Growing inclination toward cloud-based analytics solutions

                                                6.4.2      Emerging trend in healthcare such as telehealth               

                                6.5          Factor Analysis (Demand & Supply)

                                                6.5.1      Demand Side Analysis

                                                6.5.2      Supply Side Analysis      

                                                                6.5.2.1   Top Partnerships

                                                                6.5.2.2   Top Mergers& Acquisitions

                                                                6.5.2.3   Top Funding

                                                                6.5.2.4   Top Business Expansions

                                                                6.5.2.5   Top Product Launches

                                                                6.5.2.6   Top Start ups

                                6.6          Value Chain Analysis    

CHAPTER 7          MARKET INSIGHTS, BY TECHNOLOGY TYPE (US$)                            

                                7.1          General Introduction

                                                7.1.1 Descriptive Analytics

                                                7.1.2 Predictive Analytics

                                                7.1.3 Prescriptive Analytics

                                                7.1.4 Cognitive Analytics

CHAPTER 8          MARKET INSIGHTS, BY COMPONENT (US$)                                        

                                8.1          General Introduction                    

                                                8.1.1      Hardware           

                                                8.1.2      Software

                                                8.1.3      Services

CHAPTER 9          MARKET INSIGHTS, BY DELIVERY MODEL (US$)                                 

                                9.1          General Introduction                    

                                                9.1.1      On-Demand Model        

                                                9.1.2      On-Premise Model

CHAPTER 10       MARKET INSIGHTS, BY APPLICATION (US$)                        

                                10.1        General Introduction                    

                                                10.1.1    Clinical Analytics              

                                                10.1.2    Financial Analytics

                                                10.1.3    Operational Analytics

                                                10.1.4    Population Health Analytics

                                                10.1.5    Others

CHAPTER 11       MARKET INSIGHTS, BY END USER (US$)                

                                11.1        General Introduction                    

                                                11.1.1    Hospitals & Clinics           

                                                11.1.2    Finance & Insurance Agencies

                                                11.1.3    Research Organizations

CHAPTER 12       MARKET INSIGHTS, BY REGION                                

                                12.1        North America Healthcare Data Science Market

                                                12.1.1    United States

                                                12.1.2    Canada

                                                12.1.3    Rest of North America

                                12.2        Europe Healthcare Data Science Market

                                                12.2.1    Germany

                                                12.2.2    United Kingdom

                                                12.2.3    France

                                                12.2.4    Italy

                                                12.2.5    Spain

                                                12.2.6    Rest of Europe

                                12.3        Asia-Pacific Healthcare Data Science Market

                                                12.3.1    China

                                                12.3.2    Japan

                                                12.3.3    Australia

                                                12.3.4    Rest of APAC

                                12.4        Rest of World Healthcare Data Science Market

CHAPTER 13       COMPETITIVE SCENARIO                                             

                                13.1        Porter’s Five forces analysis                      

                                                13.1.1    Bargaining power of Buyer         

                                                13.1.2    Bargaining power of Supplier     

                                                13.1.3    Threat of new entrants

                                                13.1.4    Availability of Substitute              

                                                13.1.5    Industry Rivalry

                                13.2        Market Share Analysis, by Company, 2018                          

                                                13.2.1    Global Healthcare Data Science Market Share of Major Players, 2018

CHAPTER 14       TOP 10 COMPANY PROFILES                                      

                                14.1        Cerner Corporation                       

                                                14.1.1    Key Facts            

                                                14.1.2    Business Description     

                                                14.1.3    Key Product/Application Offerings          

                                                14.1.4    SWOT Analysis 

                                                14.1.5    Key Financials   

                                                                12.1.5.1 Revenue Split by Region

                                                                12.1.5.2 Revenue Split by Products

                                                14.1.6    Recent Developments

                                                                12.1.6.1 Product Launches

                                                                12.1.6.2 Strategic Alliance

                                                                12.1.6.3 Business Expansion

                                                                12.1.6.4 Merger & Acquisition   

                                14.2        McKesson                          

                                14.3        IBM Corporation                             

                                14.4        Allscripts Healthcare Solutions, Inc.                      

                                14.5        Optum (UnitedHealthcare Group)                         

                                14.6        GE Healthcare                  

                                14.7        Epic System Corporation                             

                                14.8        Inovalon                             

                                14.9        Health Catalyst                

                                14.10      Flatiron Health (Roche)                               

                               

Note: Information Related to financials and product-specific recent development would depend on data availability. Also, this is a tentative table of content and can be changed as per your requirement

 

Analyzing historical market, estimation of the current market and forecasting the future market for the Healthcare Data Science Market will be based on the three major steps undertaken to create and analyze the adoption trend of healthcare data science market across various industry verticals in the different region around the globe. Exhaustive secondary research would also be conducted to collect the historical market numbers to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions would be taken into consideration. Moreover, exhaustive primary interviews would also be conducted with industry experts across the value chain of the healthcare data science market. Post assumption and validation of market numbers through primary interviews, bottom-up approach will be employed to forecast the complete market size of the healthcare data science market. Thereafter, market breakdown and data triangulation methods would be adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study would be conducted to obtain the historical market size of the healthcare data science market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the healthcare data science market, a detailed secondary analysis would be conducted to gather historical market insights and share for different segments & sub-segments for major regions across the world. Major segments included in the report as technology type, component type, delivery model type, application and end-user. Further analysis would also be done for different countries to analyze the overall adoption of the healthcare data science in that particular country.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the healthcare data science market. Factor analysis would be conducted using dependent and independent variables such as rise in demand for analytics for population health management solution, shift in preference from a pay-for-service model to a value-based care model, increase in adoption of cloud analytics, growing inclination toward cloud-based analytics solutions and emerging trend in healthcare such as telehealth. The demand and supply-side scenario would also be thoroughly studied by considering top partnerships, merger and acquisition, business expansion, product launches and analyzing the list of start-ups in the healthcare data science market across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we would arrive at the current market size, key players in the healthcare data science market and market shares of these players. All the required percentage shares split, and market breakdowns would be determined using the above-mentioned secondary approach and will be verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weight would be assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach would be applied to arrive at the market forecast pertaining to 2026 for different segments and sub-segments across the different regions of the world. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and penetration rate of healthcare data science across the major regions
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the healthcare data science market in terms of the services offered as well as market share. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews would be conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings will then be summarized, and statistical analysis would be performed to prove the stated hypothesis. Inputs from primary research would be consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique would be employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the healthcare data science market globally. Data will split into several segments & sub-segments post studying various parameters and trends in the areas of technology type, component type, delivery model type, application and end-user of healthcare data science market.

Main objective of the Healthcare Data Science Market Study

The current & future market trends of the healthcare data science would be pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the healthcare data science in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include technology type, component type, delivery model type, application and end-user
  • Define and analysis of the regulatory framework for healthcare data science
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Analyze the current and forecast market size of the healthcare data science market for the major regions. Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the World. Country-level analysis is also conducted in the report
  • Define and analyze the competitive landscape of the healthcare data science market and the growth strategies adopted by the market players to sustain in the fast-growing market

Analyzing historical market, estimation of the current market and forecasting the future market for the Healthcare Data Science Market will be based on the three major steps undertaken to create and analyze the adoption trend of healthcare data science market across various industry verticals in the different region around the globe. Exhaustive secondary research would also be conducted to collect the historical market numbers to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions would be taken into consideration. Moreover, exhaustive primary interviews would also be conducted with industry experts across the value chain of the healthcare data science market. Post assumption and validation of market numbers through primary interviews, bottom-up approach will be employed to forecast the complete market size of the healthcare data science market. Thereafter, market breakdown and data triangulation methods would be adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study would be conducted to obtain the historical market size of the healthcare data science market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the healthcare data science market, a detailed secondary analysis would be conducted to gather historical market insights and share for different segments & sub-segments for major regions across the world. Major segments included in the report as technology type, component type, delivery model type, application and end-user. Further analysis would also be done for different countries to analyze the overall adoption of the healthcare data science in that particular country.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the healthcare data science market. Factor analysis would be conducted using dependent and independent variables such as rise in demand for analytics for population health management solution, shift in preference from a pay-for-service model to a value-based care model, increase in adoption of cloud analytics, growing inclination toward cloud-based analytics solutions and emerging trend in healthcare such as telehealth. The demand and supply-side scenario would also be thoroughly studied by considering top partnerships, merger and acquisition, business expansion, product launches and analyzing the list of start-ups in the healthcare data science market across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we would arrive at the current market size, key players in the healthcare data science market and market shares of these players. All the required percentage shares split, and market breakdowns would be determined using the above-mentioned secondary approach and will be verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weight would be assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach would be applied to arrive at the market forecast pertaining to 2026 for different segments and sub-segments across the different regions of the world. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and penetration rate of healthcare data science across the major regions
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the healthcare data science market in terms of the services offered as well as market share. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews would be conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings will then be summarized, and statistical analysis would be performed to prove the stated hypothesis. Inputs from primary research would be consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique would be employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the healthcare data science market globally. Data will split into several segments & sub-segments post studying various parameters and trends in the areas of technology type, component type, delivery model type, application and end-user of healthcare data science market.

Main objective of the Healthcare Data Science Market Study

The current & future market trends of the healthcare data science would be pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the healthcare data science in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include technology type, component type, delivery model type, application and end-user
  • Define and analysis of the regulatory framework for healthcare data science
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
  • Analyze the current and forecast market size of the healthcare data science market for the major regions. Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the World. Country-level analysis is also conducted in the report
  • Define and analyze the competitive landscape of the healthcare data science market and the growth strategies adopted by the market players to sustain in the fast-growing market

Healthcare Data Science Market: Current Analysis and Forecast (2020-2026)