In a recent industry analysis by Future Market Insights (FMI), the global predictive disease analytics market is projected to experience a remarkable compound annual growth rate (CAGR) of 22.5% from 2023 to 2033. This rapid growth is expected to elevate the market size from US$ 2.45 billion in 2023 to an impressive US$ 18.64 billion by the end of 2033.
The significant expansion within the market is driven by the increasing need for advanced healthcare services amidst a growing patient population and the escalating burden on healthcare administration. As diseases become more prevalent and healthcare data generation grows, the demand for predictive disease analytics intensifies. These analytics play a critical role in enhancing patient management and reducing the operational costs of healthcare services, thereby presenting lucrative growth opportunities for the industry.
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Technological advancements and substantial investments are accelerating the digitization of the healthcare sector, with analytical platforms being adopted worldwide to improve patient retention and management. This adoption not only boosts staff productivity and reduces caregiver burden but also significantly enhances the overall patient care ecosystem.
Moreover, the use of predictive disease analytics by policymakers to scrutinize statistics and models has become increasingly common, aiding in more informed decision-making processes. This trend is expected to further bolster market growth.
Industry leaders are keenly focused on the development of technologically advanced tools that promise better patient outcomes. The competitive landscape is thus seeing a wave of innovation aimed at meeting the rising demand for efficient and effective healthcare solutions.
As the predictive disease analytics sector continues to evolve, it is set to redefine healthcare practices and enhance the quality of life for patients worldwide. The industry’s robust growth trajectory underscores its critical role in the future of healthcare.
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.
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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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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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