The global predictive disease analytics market is predicted to register a CAGR of 22.5% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 2.45 billion in 2023 to US$ 18.64 billion by 2033 end.
The demand for predictive disease analytics is expected to increase owing to the soaring patient load on the healthcare administrative. Furthermore, the surging prevalence of diseases and gigantically increasing data generation are boosting the adoption of predictive disease analytics. The heightened pressure on the healthcare industry to offer improved patient care at reduced costs is further unlocking new opportunities for the growth of predictive disease analytics.
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The robust technological advancement and investment by the healthcare industry are resulting in the speedy digitization of the healthcare sector. Analytical platforms are utilized across the globe to effectively manage patients and their retention. In addition to this, the deployment of these tools enhances staff productivity, minimizes caregivers’ burden, and enhances patient management.
The growing adoption of predictive disease analytics by policymakers to analyze statistics and models for enhanced decision-making are also expected to favor market growth. Additionally, top players are also intensely concentrating on developing technologically upgraded tools for better patient outcomes.
Top Highlights from the FMI’s Analysis of the Predictive Disease Analytics Market:
- The United States market is expected to acquire a large market share over the forecast period. This can be attributed to the surging burden of chronic illnesses in the country.
- In China, the market is expected to witness expeditious growth. High growth opportunities for the top players in China are expected to propel market growth.
- The software and services section is projected to obtain 69.9% in 2022. Increasing investments in the IT sector are anticipated to propel segment growth.
- Cloud-based solutions are expected to witness a high adoption rate in the future. Increasing demand for solutions that generate user engagement and give easy access to medical information is forecasted to boost segment growth.
- The healthcare payers segment is expected to account for 40.9% market share in 2022. The growing adoption of predictive disease analytics for the evaluation of insurance claims is expected to bolster segment growth.
- The healthcare provider segment is anticipated to witness robust growth. Surging demand for these services to make better decisions related to healthcare is expected to propel segment growth.
Developments in Predictive Disease Analytics in News:
- In July 2022, Trilliant Health, which is a healthcare consulting company, released an analytics tool called Similarity Index. The tool helps healthcare institutions to precisely benchmark by locating extremely similar markets, facilities, providers, and patient populations.
- In July 2022, juli, a corporation that focuses on managing chronic conditions utilizing AI, declared the development of an advisory board. This board consists of digital health pioneers that help patients to better control complex chronic diseases by gathering and analyzing insights from the environment, smartphones, wearables, electron magnetic resonance, and patient-reported data.
- In November 2022, SEMCAP, a U.S.-based investment company, revealed its healthcare investment strategy. This new investment strategy includes high-growth opportunities, technology-enabled service companies, and next-Gen healthcare technology, taking into consideration digital trends in the healthcare industry and demographics.
Competitive Intelligence: Strategic Undertakings Adopted by Market Players:
- Oracle
- IBM
- SAS
- Allscripts Healthcare Solutions Inc.
- MedeAnalytics, Inc.
- Health Catalyst.
- Apixio Inc.
Predictive Disease Analytics Market by Category:
By Component:
- Predictive Disease Analytics in Software and Services
- Predictive Disease Analytics in Hardware
By Deployment:
- On-premise Predictive Disease Analytics
- Cloud-based Predictive Disease Analytics
By End User:
- Healthcare Payers
- Healthcare Providers
- Others
By Region:
- North America Market
- Europe Market
- Asia Pacific Market
- Latin America Market
- Middle East and Africa Market
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