Healthcare Prescriptive Analytics Market Size (2024 - 2029)

The healthcare prescriptive analytics market is poised for growth due to its ability to enhance decision-making by suggesting and evaluating alternative options. This market expansion is driven by the integration of big data, the need for increased efficiency, and the demand to reduce healthcare costs. The technology's capability to analyze complex data and minimize unnecessary expenditures has facilitated its adoption, a trend anticipated to persist in the coming years.

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Market Size of Healthcare Prescriptive Analytics Industry

healthcare prescriptive analytics market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 18.00 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

healthcare prescriptive analytics market size

*Disclaimer: Major Players sorted in no particular order

Healthcare Prescriptive Analytics Market Analysis

Prescriptive analytics is the future of healthcare analytics. It goes beyond predicting future outcomes to suggest alternative options at hand and then demonstrates the implication of each option to make the decision-making process more rational, streamlined, and optimized. The major factors for the growth of the market include integration of big data in healthcare, growing need of increasing efficiency in healthcare sector, and increasing demand to curtail healthcare costs. To predict the future, we need data from the past as well as the present, and analyzing the data being generated at the same time makes this process complex and machine intensive. Additionally, unnecessary healthcare cost, can also be reduced by analytics. Hence, the usage of prescriptive analytics at various levels to curb unnecessary expenditures has been very helpful in improving the adoption rate for the technology, and the trend is expected to continue during the forecast period.

Healthcare Prescriptive Analytics Industry Segmentation

As per the scope of the report, Prescriptive analytics is a part of advanced analytics that is used for making an optimum decision by considering all the situation and available resources. These comprehensively analyze the data to determine the best possible outcome and recommend a course of action.

By Application
Clinical Data Analytics
Financial Data Analytics
Administrative Data Analytics
Research Data Analytics
By Product
Hardware
Software and Services
By Deployment
On-premise
Cloud-based
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 Prescriptive Analytics Market Size Summary

The healthcare prescriptive analytics market is poised for significant growth as it represents the future of healthcare analytics by not only predicting outcomes but also suggesting actionable options to optimize decision-making. This advancement is driven by the integration of big data, the need for increased efficiency, and the demand to reduce healthcare costs. The technology's ability to analyze both historical and real-time data makes it complex yet essential for streamlining processes and curbing unnecessary expenditures. The adoption of prescriptive analytics is further bolstered by its application in reducing healthcare costs, which is expected to continue its upward trajectory in the coming years.

The market is segmented into on-premise and cloud-based deployments, with the cloud-based segment anticipated to experience robust growth due to its cost advantages and the increasing adoption of cloud platforms. The need for real-time data accessibility to enhance decision-making is a key driver of market expansion. Additionally, the rise in cyber-crime has heightened the demand for analytics in crime detection and prevention, further propelling market growth. In the United States, positive trends in healthcare infrastructure, driven by increased internet penetration and technological advancements, are expected to support the market's expansion. Global players such as IBM, Allscripts Healthcare Solutions, Cerner Corporation, and others are pivotal in shaping the market landscape.

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Healthcare Prescriptive Analytics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Integration of Big Data in Healthcare

      2. 1.2.2 Growing Need of Increasing Efficiency in Healthcare Sector

      3. 1.2.3 Increasing Demand to Curtail Healthcare Costs

    3. 1.3 Market Restraints

      1. 1.3.1 Data Security and Privacy Concerns

      2. 1.3.2 Lack of Properly Trained IT Professionals in Healthcare

    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

    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 Product

      1. 2.2.1 Hardware

      2. 2.2.2 Software and Services

    3. 2.3 By Deployment

      1. 2.3.1 On-premise

      2. 2.3.2 Cloud-based

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle-East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle-East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Healthcare Prescriptive Analytics Market Size FAQs

The Healthcare Prescriptive Analytics Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)

IBM, Allscripts Healthcare Solutions, Cerner Corporation, Mckesson Corporation and Oracle Corporation are the major companies operating in the Healthcare Prescriptive Analytics Market.

Healthcare Prescriptive Analytics Report Snapshots

Healthcare Prescriptive Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)