Healthcare Analytics Market Size, Share, Growth Analysis, By Type(Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Cognitive Analytics), By Application(Clinical Analytics (Quality Improvement & Clinical Benchmarking, Clinical Decision Support, Reporting & Compliance, Comparative Analytics/Effectiveness), By Component(Services (Support Services, Business Analytics Services), Hardware, and Software ), By Deployment Model(On-premises, On-demand), By End User(Payers (Private Insurance Companies, Government Agencies, Employers & Private Exchanges), Providers (Hospitals), By Region - Industry Forecast 2024-2031

Global Healthcare Analytics Market size was valued at around USD 27.3 billion in 2022 and is expected to rise from USD 34.2 billion in 2023 to reach a value of USD 212.3 billion by 2031, at a CAGR of 25.6% over the forecast period (2024–2031).

Growing penetration of digital technologies in the healthcare industry and increasing volume of healthcare data are projected to bolster the demand for healthcare analytics over the coming years. Rising adoption of electronic health records around the world is also expected to create new opportunities for healthcare analytics companies in the future. Growing popularity of personalized medicine and rising realization of patient data information are also expected to bolster healthcare analytics market growth going forward. High investments in healthcare cost reduction around the world and advancements in analytics technologies are also estimated to promote the demand for healthcare analytics in the long run. Surging demand and popularity of value-based care models around the world are also predicted to offer lucrative opportunities for healthcare analytics providers across the study period and beyond. However, complexity in data integration, data security and privacy concerns, and high costs of implementation are slated to impede healthcare analytics demand in the long run.

US Healthcare Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.