According to FMI’s estimate, the global Predictive Disease Analytics Market demand would grow at a CAGR of 22.5% during the forecast period. The industry’s size is expected to grow from US$ 2.45 billion in 2023 to US$ 18.64 billion by the end of 2033.
The rising patient load on healthcare administration is likely to drive up demand for Predictive Disease Analytics. Furthermore, rising disease prevalence and massive data generation are driving the adoption of Predictive Disease Analytics. The increased pressure on the healthcare industry to provide better patient care at lower costs is creating new prospects for the growth of Predictive Disease Analytics.
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The healthcare industry’s rapid technical innovation and investment are resulting in the sector’s rapid digitalization. Analytical platforms are used all around the world to efficiently manage patients and retain them. Furthermore, the use of these tools increases staff productivity, reduces carer burden, and improves patient management.
Policymakers’ increasing use of Predictive Disease Analytics to analyse statistics and models for better decision-making is also projected to boost market growth. Furthermore, top players are working hard to develop technologically advanced tools for better patient outcomes.
Top Highlights from the FMI’s Analysis of the Predictive Disease Analytics Market:
- Over the forecast period, the US market is expected to gain a significant market share. This can be attributable to the country’s rising chronic sickness burden.
- In China, the market is predicted to expand quickly. High growth potential for China’s top firms are likely to drive market expansion.
- In 2022, the software and services sector is expected to achieve 69.9%. Increased investment in the IT sector is expected to drive segment growth.
- Cloud-based solutions are predicted to be widely adopted in the future. Increased demand for solutions that encourage user interaction and provide quick access to medical information is expected to drive category growth.
- In 2022, the healthcare payers segment is estimated to account for 40.9% of the market. The increasing use of Predictive Disease Analytics for insurance claim evaluation is projected to drive segment growth.
- The healthcare provider segment is expected to increase rapidly. Demand for these services to help people make better healthcare decisions is projected to drive market 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 SimilarityIndex. 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 US-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.
Key Companies Profiled:
- Oracle
- IBM
- SAS
- Allscripts Healthcare Solutions Inc.
- MedeAnalytics, Inc.
- Health Catalyst.
- Apixio Inc.
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Predictive Disease Analytics Market by Category
By Component, the Predictive Disease Analytics Industry is segmented as:
- Predictive Disease Analytics in Software and Services
- Predictive Disease Analytics in Hardware
By Deployment, the Predictive Disease Analytics Industry is categorized as:
- On-premise Predictive Disease Analytics
- Cloud-based Predictive Disease Analytics
By End User, the Predictive Disease Analytics Market is segregated as:
- Predictive Disease Analytics for Healthcare Payers
- Predictive Disease Analytics for Healthcare Providers
- Predictive Disease Analytics for Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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