Press Release

Healthcare Analytics Market to Surge at an Estimated CAGR of 24.6% During 2025-30

The Global Healthcare Analytics Market size was valued at around USD45.12 billion in 2024 and is projected to reach USD169 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 24.6% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. This growth is mainly attributed to the ability of healthcare analytics to address multiple demands presented by healthcare providers, including making data-driven decisions, cost management, boosting operational efficiency & improving value-based care. This service is further fueled by the increasing government initiatives to digitalize health records. As a result, the demand for healthcare analytics has increased in past years.

Moreover, a lot of people are inclined towards getting themselves covered with health insurance, and this trend has been noted across various countries. Some countries, such as Australia, South Korea, Japan, the UK, Israel, Canada, etc., have 100% of their population covered with governmental or private insurance. This is due to the increasing costs of medical treatments and the spread of various chronic diseases, such as COVID-19. This pushes insurance companies to ensure that they are not engaged in fraud and also know if the treatment provided by the hospitals contains only necessary tests, diagnostics, and medicines. This is addressed by using healthcare data analytics that provide deep insights and future predictions, thus increasing the growth of the market.

Furthermore, huge investments are made by multiple life science companies in their R&D processes, with pharmaceuticals as the most prominent industry. For instance, in 2023, Merck & Co. was the top company in the world in terms of R&D expenditures, with a spending of around USD30.5 billion. Also, GSK announced the expansion of its facility in Pennsylvania, with an investment of around USD800 million to enhance its R&D processes and increase manufacturing. Such investments directly correlate with the high need for healthcare analytics as these services help life science companies enhance product development and promote them among the target audience.

Therefore, due to superior clinical and financial benefits offered by healthcare analytics, this market has experienced significant growth in historical years, which is further fueled by expanding end-users such as insurance companies, healthcare providing centers, etc., thus showing a good growth of the market in the coming years, further states the research report, “Global Healthcare Analytics Market Analysis, 2025.”

Global Healthcare Analytics Market Segmentation Analysis

Descriptive Analysis Type Holds the Largest Market Share

Based on the type of Healthcare Analytics, the market is further bifurcated into Descriptive Analysis, Predictive Analysis, Prescriptive Analysis, and Diagnostic Analysis. Here, descriptive analysis leads the market with a share of around 52%. The main reason behind this dominance is the need to reduce the cost for both hospitals and patients. This is because healthcare analytics uses previous records to describe the focusing points for making efficient health operations. Also, this will help in reducing the cost to be paid by the patients. Moreover, these services are cheaper as compared to other segments, which makes it easy for a wide range of consumers to invest in them. Therefore, cost-saving insights offered by descriptive analysis, and that too at low cost, have made them the market leading segment.

Asia-Pacific Driving Growth of Healthcare Analytics Industry

Regionally, Asia-Pacific dominates the market with a share of around 48%. This is because a lot of hospitals are present in this region and are the major users of healthcare analytic services. For instance, around 60.6% of the total hospitals globally were present in Asia. Moreover, this region has the highest population, which not only creates a demand for reducing the cost of medical treatments but also presents a concerning factor for their respective insurance companies to ensure that their consumers are provided with necessary diagnostics and treatments only. Therefore, a vast number of healthcare centers and patients in Asia-Pacific have been the main reason behind its dominance, which is expected to continue in the coming years as well.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including IQVIA, Merative, Optum Inc., Oracle, SAS Institute, Veradigm, CitiusTech, EXL, Health Catalyst, Inovalon, CVS Health, Apixio Inc., COTIVITI, Wipro, Enlitic, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from services been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?