Healthcare Descriptive Analysis Market Size (2024 - 2029)

The healthcare descriptive analysis market is projected to experience significant growth, driven by the increasing digitalization of healthcare data and the rising adoption of analytics to enhance decision-making and patient care. The market's expansion is further supported by advancements in healthcare infrastructure and technology, which facilitate the use of big data to reduce costs and improve efficiency. Despite these positive trends, concerns regarding data privacy and security may pose challenges to the market's growth trajectory.

Market Size of Healthcare Descriptive Analysis Industry

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Healthcare Descriptive Analysis Market Summary
Study Period 2021 - 2029
Market Size (2024) USD 18.36 Billion
Market Size (2029) USD 52.76 Billion
CAGR (2024 - 2029) 23.50 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Healthcare Descriptive Analysis Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Healthcare Descriptive Analysis Market Analysis

The Healthcare Descriptive Analysis Market size is estimated at USD 18.36 billion in 2024, and is expected to reach USD 52.76 billion by 2029, growing at a CAGR of 23.5% during the forecast period (2024-2029).

The global battle against the COVID-19 pandemic benefited greatly from the use of advanced healthcare data analytics. The healthcare industry was able to track the pandemic's spread, monitor population health, predict disease severity and resulting demand, and offer the general public optimized medical solutions by utilizing data during the pandemic. According to the study published in NCBI in May 2021, calls and questionnaires were used to collect epidemiologic and disease-related data for the study, which were then descriptively analyzed. Thus, research activity increased during the pandemic, which had a big impact on market expansion. Post-pandemic, the market is seeing uniform growth due to the rising digitalization, increased adaptation of analytics, increased healthcare infrastructure, and technological advancements in healthcare descriptive analytics.

The increasing need to reduce healthcare expenditure, including the cost associated with medical product flaws and hospital workflow inefficiencies, is anticipated to increase the usage of big data in the healthcare sector. For instance, according to a study published in 'Health Informatics' in January 2021, healthcare descriptive analytics employs recent and old data to produce macro and micro insights that help in business and patient decision-making. According to the same source, the use of health data analytics allows for improvements in patient care, faster and more accurate diagnoses, preventive measures, and more personalized treatment. Such advantages of descriptive analysis in healthcare are expected to drive the market's growth.

The digitalization of healthcare data is a primary driver of the healthcare descriptive analytics market. Many developed countries are implementing electronic medical records to digitalize healthcare. For instance, the German healthcare system's largest digitalization project, the electronic patient health record (Elektronische Patientenakte - ePA), began on January 1, 2021. The ePA aims to provide extensive digital connectivity inside the German healthcare system, including between patients and clinicians, as well as between providers in hospital and primary care settings. The objective of the project is to create a central location for all patient information such as test results, diagnosis, medications, and personal health data from wearable devices. Such developments are expected to drive the market.

The rising demand for descriptive analysis in the assessment of clinical data is expected to drive the market's growth over the forecast period. For instance, in June 2021, IQVIA launched Clinical Data Analytics Suite (CDAS), a SaaS-based clinical data analytics platform that transforms clinical data analytics from descriptive reports, which improve trial safety for patients and quicken drug development. Such launches and the increased adoption of descriptive analytics in drug discovery are expected to drive the market.

However, data privacy and security concerns are expected to restrain the market's growth over the forecast period.

Healthcare Descriptive Analysis Industry Segmentation

As per the scope of this report, descriptive analytics provides a historical view of data that allows healthcare professionals and management to determine if current practices are effective and make recommendations, if necessary, for remediation. The data are usually collected from electronic health records and further used to make informed clinical and business decisions. 

The healthcare descriptive analysis market is segmented by application (clinical, financial, administrative, and research data analytics), component (software, hardware, and services), deployment (on-premise, web-based, and cloud-based), end user (hospitals, clinics, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions, globally. The report offers values (in USD million) for the above segments.

By Application
Clinical Data Analytics
Financial Data Analytics
Administrative Data Analytics
Research Data Analytics
By Component
Software
Hardware
Services
By Deployment
On-premise
Web-based
Cloud-based
By End User
Private Organization
Hospitals
Clinics
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Healthcare Descriptive Analysis Market Size Summary

The healthcare descriptive analysis market is poised for significant growth, driven by the increasing digitalization of healthcare data and the adoption of advanced analytics. The market is experiencing a surge in demand due to the need for improved patient care, cost reduction, and enhanced decision-making capabilities. The COVID-19 pandemic highlighted the importance of data analytics in tracking disease spread and optimizing medical solutions, which has led to a sustained interest in healthcare descriptive analytics. Technological advancements and the implementation of electronic medical records in developed countries are further propelling market expansion. The integration of cloud-based technologies is also contributing to the market's growth by providing advanced analytics capabilities and facilitating data-driven innovations.

In North America, the market is bolstered by federal healthcare mandates, increased funding, and a strong focus on personalized medicine and value-based care. Collaborations between major companies, such as Walmart and UnitedHealth, are enhancing healthcare analytics and supporting value-based care initiatives. The presence of key market players and ongoing research for innovative software development are strengthening the market's position in the region. Despite the competitive landscape, with companies like IBM, Oracle Corporation, and McKesson Corporation leading the charge, the market continues to expand due to strategic partnerships and product launches aimed at improving healthcare analytics and infrastructure.

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Healthcare Descriptive Analysis Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Need for Comprehensive Analytics

      2. 1.2.2 Integration of Big Data into Healthcare

    3. 1.3 Market Restraints

      1. 1.3.1 Data Privacy and Security Concerns

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Application

      1. 2.1.1 Clinical Data Analytics

      2. 2.1.2 Financial Data Analytics

      3. 2.1.3 Administrative Data Analytics

      4. 2.1.4 Research Data Analytics

    2. 2.2 By Component

      1. 2.2.1 Software

      2. 2.2.2 Hardware

      3. 2.2.3 Services

    3. 2.3 By Deployment

      1. 2.3.1 On-premise

      2. 2.3.2 Web-based

      3. 2.3.3 Cloud-based

    4. 2.4 By End User

      1. 2.4.1 Private Organization

        1. 2.4.1.1 Hospitals

        2. 2.4.1.2 Clinics

        3. 2.4.1.3 Other End Users

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Spain

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 South Korea

        6. 2.5.3.6 Rest of Asia-Pacific

      4. 2.5.4 Middle East and Africa

        1. 2.5.4.1 GCC

        2. 2.5.4.2 South Africa

        3. 2.5.4.3 Rest of Middle East and Africa

      5. 2.5.5 South America

        1. 2.5.5.1 Brazil

        2. 2.5.5.2 Argentina

        3. 2.5.5.3 Rest of South America

Healthcare Descriptive Analysis Market Size FAQs

The Healthcare Descriptive Analysis Market size is expected to reach USD 18.36 billion in 2024 and grow at a CAGR of 23.5% to reach USD 52.76 billion by 2029.

In 2024, the Healthcare Descriptive Analysis Market size is expected to reach USD 18.36 billion.

Healthcare Descriptive Analysis Market - Growth, Trends, and Forecasts (2024 - 2029)