healthcare analytics global market report sample

O

2014

IQ4I Research & Consultancy Pvt. Ltd.

[email protected]

www.iq4i.com

Healthcare Analytics Global Market

[TOOL TYPE (Descriptive, Predictive and Prescriptive Analytics), APPLICATION (Clinical Data Analytics, Financial Analytics, Administrative Analytics, Research Analytics and Others), COMPONENTS (Hardware, Software, Services and Others), DELIVERY MODE (On-premise model, Web-hosted model, Cloud-based model and Others), VENDORS (Cross Industry, Healthcare Analytics specific and EMR & HER Vendors), END USERS (Payers, Providers, Healthcare Information Exchange and Others (ACO’s, IDN’s and Employers), GEOGRAPHY (North America, Europe, Asia-Pacific and Rest of the World)]

– Forecast to 2020

Copyright © 2014 IQ4I

All Rights Reserved. This document contains highly confidential

information and is the sole property of IQ4I. No part of it may be

circulated, copied, quoted, or otherwise reproduced without the

approval of IQ4I.



–Forecast to 2020

Table of Contents

1 Executive summary

2 Introduction

2.1 Key take aways

2.2 Report description

2.3 Markets covered

2.4 Stakeholders

2.5 Research Methodology

2.5.1 Market Size estimation

2.5.2 Market crack down & data triangulation

2.5.3 Secondary Research Resources

2.5.4 Primary Research Resources

2.5.5 Assumptions

3

Market Analysis

3.1 Introduction

3.2 Market segmentation

3.3 Factors Influencing Market

3.3.1 Drivers and Opportunities

3.3.1.1 Federal Healthcare Mandates

3.3.1.2

Emergence of Big Data and advancements in analytical technologies

3.3.1.3

Rising incidence of ageing population and pervasiveness of chronic and infectious diseases

3.3.1.4

Preference for paperless environment propels growth

3.3.1.5 Increasing role of social media in healthcare delivery

3.3.1.6 Digitalization of world commerce

3.3.1.7 Return of investments (ROI) in business analytics

3.3.1.8

Urge for effective usage of patient data in healthcare enterprises

3.3.1.9

Defensive medicine practices and personalized medicine usage

3.3.1.10

Novel approach towards new treatment and advanced technologies



–Forecast to 2020

3.3.2 Restraints and Threats

3.3.2.1 Shortage of Clinicians and Specialists

3.3.2.2 Lack of patient data confidentiality and transparency

3.3.2.3 Barrier to IT adoption

3.3.2.4 Functional gap between payers and providers

3.3.2.5 Increase in governmental regulation

3.3.2.6 Reimbursement issues

3.3.2.7 Increasing cost of implementing analytics

3.3.3 Benefits

3.3.3.1 Ease of Big Data Management

3.3.3.2 Emergency care & Anticipatory care

3.3.3.3 Transformation from volume-based to value-based business

3.3.3.4 Fraud detection

3.3.4 Burning issues

3.3.4.1 New market entrants with intensified competition

3.3.4.2 EHR adoption

3.3.4.3 Lack of Interoperability

3.3.4.4 Advancement in smartphones and tablets

3.3.4.5 Real-time market bidding

3.3.5 Winning strategies

3.3.5.1

Managing abundant data and inadequate knowledge about the data usage

3.4 Porter's five force analysis

3.5 Regulatory affairs

3.6 Market Share Analysis by Major players

3.6.1 Introduction

3.6.2 Cross-Industry Vendors

3.6.3 Healthcare Specific Vendors

3.6.4 EMR Vendors

3.7 Venture capital investments

3.8 Product life cycle analysis

4 Healthcare Analytics Market, By Type

4.1 Introduction

4.2 Descriptive Analytics

4.3 Predictive Analytics

4.4 Prescriptive Analytics



–Forecast to 2020

5 Healthcare Analytics Market, By Application

5.1 Introduction

5.2 Clinical Data Analytics

5.2.1 Quality Care

5.2.2 Medical Error Reduction

5.2.3 Physician Performance Evaluation

5.2.4 Customer Relationship Management

5.3 Financial Analytics

5.3.1 Claims Analytics

5.3.2 Revenue Cycle Analytics

5.3.3 Risk Analytics

5.4 Administrative Analytics

5.4.1 Supply Chain Analytics

5.4.2 Workforce Analytics

5.4.3 Strategic Analytics

5.5 Research Analytics

5.6 Others

6 Healthcare Analytics Market, By Component

6.1 Introduction

6.2 Hardware

6.3 Software

6.4 Services

6.5 Others

7 Healthcare Analytics, By Delivery Mode

7.1 Introduction

7.2 On-premise model

7.3 Web-hosted model

7.4 Cloud-based model

7.5 Others

8 Healthcare Analytics, By End-User

8.1 Introduction

8.2 Healthcare

8.2.1 Payers

8.2.2 Providers

8.2.3 Healthcare Information Exchanges (HIES)

8.3 Others (ACOs, IDNs, Employers)

9 Geographical Analysis

9.1 Introduction

9.2 North America



–Forecast to 2020

9.4 Europe

9.5 Asia

9.6 Rest of the World

10 Company Developments

10.1 Introduction

10.2 New Product Launch

10.3 Agreements, Partnerships, Collaborations & Contracts

10.4 Mergers & Acquisitions

10.5 Expansions

10.6 Approvals

11 Major Companies

11.1 Cerner Corporation

11.2 Information Builders

11.3 IBM Corporation

11.4 Truven Health Analytics

11.5 McKesson Corporation

11.6 MedeAnalytics, Inc.

11.7 Oracle Corporation

11.8 Optum, Inc.

11.9 Allscripts Healthcare Solutions, Inc.

11.10 Epic



–Forecast to 2020

1.1 REPORT DESCRIPTION

The healthcare analytics global market is estimated to be $XX billion in 2013 and is expected to

grow at a CAGR of XX% to reach approximately $20 billion by 2020. The analytics assist the

healthcare organizations in reducing the hospitals stays of patients, meeting regulatory

compliance, enhanced quality care, prevention of chronic diseases, and fraud detection. Global

healthcare analytics market is segmented into types, applications, components, delivery modes,

and end users. By types the market is further alienated into descriptive, predictive and

prescriptive analytics. Components market is alienated into hardware, software and services.

Mode of delivery is classified into on-promise, web-hosted and cloud-based models. Depending

on the end users, the healthcare analytics market is alienated into healthcare and others.

This report studies the global healthcare analytics market over the forecast period 2014 to 2020.

The market is expected to grow at a CAGR of more than XX% during the forecast period.

Factors such as increasing healthcare IT adoption, centralized healthcare mandates across the

globe, emerging fields of predictive, prescriptive analytics and venture capital investments are

driving the market growth. In addition, the digitization of world commerce, the emergence of big

data, and increase in the number of advanced technologies are providing the growth

opportunities. On the other hand, some factors such as lack of skilled labor with analytical skills,

data securing, and patient data privacy are hampering the growth of the market.

North America accounts for the largest share of the healthcare analytics market driven by the

U.S. centralized healthcare mandates such as Meaningful Use, ICD-10 implementation, and

The Patient Protection and Affordable Care Act (PPACA). These initiatives assist to improve the

acceptance of Electronic Health Records (EHRs) and Healthcare Information Exchange (HIE),

thus improving the usage of analytics to influence the generated data. The European market is

expected to be the second largest market, growing at a lower rate mainly due to the economic

crisis. The Asian market is fairly new to medical analytics, however, the increasing IT skills,

outsourcing trend and healthcare IT adoption will force this market to grow. Among the Rest of

the world regions Middle East and North African regions are found to be the strongly emerging

lead by the favorable investments in the healthcare IT sector.

The healthcare analytics market is a fragmented market with key players such as IBM

Corporation (U.S.), Truven Health Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc.

(U.S.), McKesson Corporation (U.S.), SAS Institute, Inc. (U.S.), LexisNexis Risk Solutions

(U.S.), Inovalon, Inc. (U.S.), Verisk Health, Inc. (U.S.), Predixion Software (U.S.), iHealth

Analytics, Inc. (U.S.), Predilytics (U.S.), MedeAnalytics, Inc. (U.S.), and Cerner Corporation

(U.S.) along with others.



–Forecast to 2020

The report provides an in depth market analysis of the above mentioned segments across the

North America, Europe, Asia-Pacific and Rest of the World.

1.2 MARKET SEGMENTATION

FIGURE 1

HEALTHCARE ANALYTICS MARKET: MARKET SEGMENTATION

Source: Annual/Financial Reports, SEC Filings, Investor/Corporate presentations, American Health Information

Management Association (AHIMA), Canadian Healthcare Association (CHA), Health Care Anti-

fraud Association (CHCAA), Centers for Medicare & Medicaid Services (CMS), OECD, WHO, and Industry Expert

Interviews

Healthcare Analytics By Region

Global Healthcare Analytics Market

Healthcare Analytics By Type

Payers

Providers

HIE

Others

North America

Europe

Asia-Pacific

RoW

On-premise

model

Web-hosted

model

Cloud-based

model

Descriptive

Analytics

Predictive

Analytics

Prescriptive

Analytics

Clinical Data

Analytics

Financial/Revenu

e Analytics

Operational

Analytics

Hardware

Software

Services

Healthcare Analytics By End User

Healthcare Analytics By Component

Healthcare Analytics By Application

Healthcare Analytics By Delivery Mode

Research

Analytics

Others

Others Others



–Forecast to 2020

1.3 RESEARCH METHODOLOGY

FIGURE 2

HEALTHCARE ANALYTICS MARKET: RESEARCH APPROACH




Interviews

1.3.1 MARKET SIZE EST IMATION

The global healthcare analytics market size, its different segments and sub-segments is

analyzed using both top-down and bottom-up approaches. The market size and revenue

calculated using research methodology involves primary and secondary research of major

players in the market, factors influencing the market, market segmentation and geographical

market scenario.

• Bottom-up and Top-down approach

• Data triangulation

• Qualitative & Quantitative analysis

• Healthcare Analytics market segmentation

• Market size, CAGR and market trends validation

• Market size of sub segments and market shares of major players

• Upcoming trends and technological advancements in types,

applications and end users

• Validation of factors influencing market and regional market shares

• Technical information of Healthcare Analytic tools and components

• Strategic insights, financial revenues and competitive intelligence of

Key players

• Types, end users, and applications of healthcare analytics

• Market trends and growth scenario of sub markets and parent market

Market

Breakdown

Primary

Research

Secondary

Research



–Forecast to 2020

Secondary research of major players include the study of their annual and financial reports,

press release while primary research involves interviews from the supply side (CEOs, directors,

strategic growth managers, international/regional marketing managers, and marketing

executives) and the demand side (reference laboratory heads, hospitals, and purchase

managers).

Primary and secondary sources helped in verification of percentage shares, splits, and

breakdowns. This data is consolidated with detailed inputs and presented in this report.

FIGURE 3

HEALTHCARE ANALYTICS MARKET: TOP-DOWN AND BOTTOM-UP

APPROACH




Interviews

Global Healthcare IT

market

Market share of EHR, EMR, Healthcare

Analytical tools and Service providers

Regional market shares

Market share of sub

segments in regional markets

Sub segments

market size and

CAGR

Overall

market size and CAGR

Market share of the players in

the overall Healthcare AnalyticsMarket and sub markets

Top players revenue IBM Corporation (U.S.),

Truven Health Analytics, Inc. (U.S.), Oracle Corporation (U.S.), Optum, Inc. (U.S.),

McKesson Corporation (U.S.),

MedeAnalytics, Inc. (U.S.), and Cerner Corporation (U.S.)

Global Healthcare IT integration

market



–Forecast to 2020

FIGURE 4

HEALTHCARE ANALYTICS MARKET: FORECASTING MODEL




Interviews

Historical Data

and trends of

Healthcare AnalyticsMarket

Evolution

Company

developmentsApplications

Download Pattern

Regulatory

Landscape

Factors Influencing

Market Growth Market Opportunities

• Defensive medicine

practices and personalized

medicine usage

• Novel approach towards

new technologies

Agreements & Joint

ventures Contributed for

XX%.

New product launch

Contributed for XX %

Technology

Evolution

Supply chain

trendAdoption pattern Regulations

Market ShareValue and volume

analysis

Geographical

Usage

Market Penetration

• Digitalization of world

commerce

• Urge for effective usage of

patient data in healthcare

enterprises

Market Restraints

• Shortage of Clinicians and

Specialists

• Lack of patient data

confidentiality and

transparency

Investments

In May 2014, XX completed

the acquisition of XX a leading

healthcare analytics service

provider in U.S.

Market Drivers

• Federal Healthcare Mandates

• Emergence of Big Data and

advancements in analytical

technologies

• Quick Return of investments

(ROI) in business analytics

.

Historical Market Data

Impact Analysis of Market

Trends

Market Size & Forecast by

Types

Market Size & Forecast by

Applications & End Users

Global Healthcare

Analytics Market Size,

Segmental share and

CAGR from 2014-2020

Market Trend and

Growth Forecasting



–Forecast to 2020

1.3.2 MARKET BREAKDOWN & DATA TRIANGULATION

FIGURE 5

HEALTHCARE ANALYTICS MARKET: MARKET BREAKDOWN & DATA

TRIANGULATION




Interviews

Demand & Supply

side

Payers, Providers,

Healthcare Institutions,

Major software and

service providers

Market share of Healthcare

Analytics Market in Global

HCIT market

Top -down

Primary

Research

Bottom -up

Secondary

Research

Healthcare Analytics

Market

(~ Bn)

(2013)

•Financial/Annual reports

•Investor Presentations

•SEC filings

•Scientific Journals

•Organizations/

Associations & Groups

Major player analysis

of key players: IBM

Corporation, Truven

Health Analytics, Inc.,

Oracle Corporation,

Optum, Inc.



–Forecast to 2020

2 EXECUTIVE SUMMARY `

FIGURE 6

GLOBAL HEALTHCARE ANALYTICS MARKET SHARE,

BY GEOGRAPHY (2013)




Interviews

Market Share (2013) %

North AmericaEurope

Asia

RoW

2%

3%

4%

5%

6%

7%

8%

9%

10%

0% 20% 40% 60% 80% 100%

CA

GR

% (

2012

–20

20)



–Forecast to 2020

TABLE 1

GLOBAL HEALTHCARE ANALYTICS MARKET REVENUE,

BY GEOGRAPHY, (2012-2020) ($MN)

Region 2012 2013 2014 2020 CAGR%

(2014-2020)

North America XX XX XX XX XX

Europe XX XX XX XX XX

Asia-Pacific XX XX XX XX XX

RoW XX XX XX XX XX

Total XX XX XX XX XX




Interviews

TABLE 2


BY TOOL TYPE (2012-2020) ($MN)

Type 2012 2013 2014 2020 CAGR %

(2014-2020)

Descriptive Analytics XX XX XX XX XX

Predictive Analytics XX XX XX XX XX

Prescriptive Analytics XX XX XX XX XX





Interviews



–Forecast to 2020

TABLE 3


BY APPLICATION (2012-2020) ($MN)

Application 2012 2013 2014 2020 CAGR %

(2014-2020)

Clinical Data Analytics XX XX XX XX XX

Financial Analytics XX XX XX XX XX

Operational Analytics XX XX XX XX XX

Research Analytics XX XX XX XX XX

Others XX XX XX XX XX





Interviews



–Forecast to 2020

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