Zion Market Research has published a new report titled “Healthcare Business Intelligence (BI) Market by Type (Descriptive, Predictive, Prescriptive, and Others), by Technology (Typical Architecture BI, Mobile BI, Cloud BI, and Others), by Application (Financial Analysis, Marketing Analysis, Clinical Data Analysis, Patient Care Analysis, and Others), and by End-User (Pharmaceutical and Biotechnology Companies, Medical Device Companies, Biomedical Research Centers, and Third-Party Administrators): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global healthcare business intelligence (BI) market was approximately USD 4,239 million in 2018 and is expected to generate around USD 10,117 million by 2025, at a CAGR of around 13.23 % between 2019 and 2025.
According to a recent study, big data and BI could cumulatively save up to USD 300 to 400 billion annually. Healthcare providers use BI software to gain insights into patient satisfaction and take financial decisions based on their findings. The adoption of BI leads to a better organizational quality, which leads to improved patient outcomes. BI also helps in disease prevention on the facility’s patients. Technological advancements in the field of business intelligence, big data, and cloud computing, rising adoption rate of healthcare analytics software in the field of clinical trials, growing trend of personalized medicines, increasing acceptance of analytics in sales and marketing applications, growing need for improved data regularization, escalating occurrences of chronic diseases, and increasing need for enhanced patient outcomes has activated the healthcare business intelligence (BI) market. Moreover, the need for precise and personalized medicines, cloud-based healthcare business intelligence (BI), the use of big data analytics, and rise in the number of research and development activities are also supporting the market growth.
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The healthcare business intelligence (BI) market is divided based on type, technology, application, and end-user. Based on the type, the healthcare business intelligence (BI) market is classified into descriptive, predictive, prescriptive, and others. The prescriptive segment is expected to account for the highest CAGR over the forecast time period. Based on technology, the market is segmented into typical architecture BI, mobile BI, cloud BI, and others. Based on application, the market includes financial analysis, marketing analysis, clinical data analysis, patient care analysis, and others. Based on end-user, the market includes pharmaceutical and biotechnology companies, medical device companies, biomedical research centers, and third-party administrators.
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By region, North America is expected to lead the healthcare business intelligence (BI) market over the prediction time period, which is to be closely followed by Europe. The Asia Pacific the healthcare business intelligence (BI) market is likely to undergo rapid change in the compound annual market growth rate, due to the presence of developing big data infrastructure, rising investments made in the healthcare BI industry, developing analytics infrastructure, and increasing awareness of healthcare business intelligence (BI). Latin American and the Middle Eastern and African markets are likely to develop at a substantial pace in the future.
Some major players of the global healthcare business intelligence (BI) market include BOARD International, IBM, Information Builders, Oracle, QlikTech International AB, Microsoft, MicroStrategy Incorporated, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software, and Yellowfin BI.
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This report segments the global healthcare business intelligence (BI) market into:
Global Healthcare Business Intelligence (BI) Market: Type Analysis
Global Healthcare Business Intelligence (BI) Market: Technology Analysis
- Typical Architecture BI
- Mobile BI
- Cloud BI
Global Healthcare Business Intelligence (BI) Market: Application Analysis
- Financial Analysis
- Marketing Analysis
- Clinical Data Analysis
- Patient Care Analysis