Healthcare Predictive Analytics Market Size, Share, Growth Analysis, By Product Type(Hardware, Services, Software), By Application(Financial Analytics, Clinical, Population Health, Operations Management), By End-use(Payers, Providers, Others), By Region - Industry Forecast 2024-2031

Healthcare Predictive Analytics Market size was valued at USD 9.3 billion in 2019 and is poised to grow from USD 11.58 billion in 2023 to USD 83.21 billion by 2031, growing at a CAGR of 24.5% in the forecast period (2024-2031).

To identify early symptoms of weakening patients in the ICU and general ward, recognize at-risk patients at home to avoid hospital readmissions and inhibit avoidable medical equipment downtime predictive analytics in healthcare is helpful. The rise in demand for advanced analytics systems in the industry to improve patient outcomes as well as for reducing costs has been a major driver for the market. According to the Centre’s for Disease Control and Prevention (CDC), people with chronic and mental health conditions account for 90% of the United States' USD 3.8 trillion in yearly healthcare expenditure. Owing to this, the cost savings from lowering chronic disorder treatment are substantial.

The endorsement of predictive analytics solutions can be boon in significantly reducing the cost of healthcare procedures. The predictive analysis combined with personalized medicine can not only result in a reduction of unnecessary medical costs but also give better patient outcomes and results. Healthcare predictive analytics uses EHRs to provide the best course of action in case of any medical procedure or medication. This not only reduces the costs for patients but also results in better outcomes. The use of advanced technological health systems along with analytics tools and AI are ready to propel the growth of the market. Healthcare costs have risen over the years owing to the increasing burden of chronic diseases on a global level.

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