Healthcare Business Intelligence Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Healthcare Business Intelligence Market covers analysis By Function (Query and Reporting tools, Performance Management/ Monitoring and Alerts, Online Analytical Processing (OLAP) and Visualization Tools); Technology (Mobile BI, Cloud BI); Application (Financial Analytics, Clinical Analytics, Operational Analytics, Others); End User (Physicians, Hospitals, Providers, Payers), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPHC00002380
  • Category : Healthcare IT
  • Status : Upcoming
  • No. of Pages : 150
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MARKET OVERVIEW

Healthcare business intelligence is the method by which extensive scale data from the large healthcare industry can be handled and refined into actionable insights from four key healthcare areas: costs, clinical data, pharmaceuticals, and patient compliance. With the power to save lives, the healthcare business intelligence industry must be on an eternal path towards perfection.

MARKET SCOPE

The "Global Healthcare Business Intelligence Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the healthcare business intelligence market with detailed market segmentation by function, technology, application, end user, and geography. The report provides key statistics on the market status of the leading healthcare business intelligence market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

  •   Based on function, the market is segmented as query and reporting tools, performance management/ monitoring and alerts, online analytical processing (OLAP) and visualization tools.
  •   Based on technology, the market is segmented as mobile BI and cloud BI.
  •   On the basis of application, the global healthcare business intelligence market is bifurcated into financial analytics, clinical analytics, operational analytics, and others.
  •   Based on end user, the market is segmented as physicians, hospitals, providers, and payers.

MARKET DYNAMICS
Drivers

  •   Growing adoption of data-driven decision-making and implementation of government initiatives to increase EHR adoption.
  •   growing pressure to curb healthcare spending and improve patient outcomes has driven the market of healthcare business intelligence in the recent days.
  •   Rapid product launches to robust R&D activities being carried out by the market players is anticipated to be the driving factors for the growth of healthcare business intelligence market.

Restraints

  •   Requirement of high investments for healthcare business intelligence-based research is likely to restraint the market growth.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The healthcare business intelligence market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the healthcare business intelligence market in these regions.

IMPACT OF COVID-19 ON HEALTHCARE BUSINESS INTELLIGENCE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. However, business intelligence services and solutions providers are observing a slowdown in their growth due to the lockdowns. Healthcare and BFSI verticals have been least influenced by the COVID-19 and are advancing the adoption of Business Intelligence solutions. The conflict among critical business intelligence solutions providers is assumed to strengthen as most expected projects have been put on hold owing to the pandemic.

World Geography

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MARKET PLAYERS


The report covers key developments in the healthcare business intelligence market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from healthcare business intelligence market are anticipated to lucrative growth opportunities in the future with the rising demand for healthcare business intelligence in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the healthcare business intelligence market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  •   SIEMENS AG
  •   MCKESSON CORPORATION
  •   HEALTH CATALYST
  •   COGNIZANT
  •   VERISK ANALYTICS, INC.
  •   MICROSOFT
  •   INFORMATION BUILDERS
  •   ORACLE
  •   ACCENTURE
  •   TABLEAU SOFTWARE

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. SIEMENS AG
2. MCKESSON CORPORATION
3. HEALTH CATALYST
4. COGNIZANT
5. VERISK ANALYTICS, INC.
6. MICROSOFT
7. INFORMATION BUILDERS
8. ORACLE
9. ACCENTURE
10. TABLEAU SOFTWARE
11. IBM
12. SAP SE
13. SAS INSTITUTE INC.
14. TABLEAU SOFTWARE
15. TABLEAU SOFTWARE

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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