Healthcare Business Intelligence (BI): Key Industry Insights, Current and Future Perspectives

What This Report Will Provide?

This study involved four major activities in estimating the current size of the healthcare business intelligence market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

[194 Pages Report] The healthcare business intelligence market is expected to reach USD 8.9 billion by 2023 from USD 4.4 billion in 2018, at a CAGR of 15.3%

Major Growth Boosters:

Factors such as the implementation of government initiatives to increase EHR adoption, growing adoption of data-driven decision-making, growing pressure to curb healthcare spending and improve patient outcomes, big data in healthcare, and the increasing number of patient registries are expected to drive the growth of the healthcare business intelligence market.

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Recent Developments:

In 2018, Oracle acquired Zenedge (US) to secure critical IT systems deployed via cloud, on-premise, or hybrid hosting environments with the help of Zenedge.

In 2018, SAS entered into an agreement with Deloitte (Canada) to support their existing strategic alliance that will leverage their combined expertise to introduce lower-risk and higher-quality outcomes in the insurance marketplace.

In 2017, Microsoft partnered with SAP SE (Germany) to drive more business innovation in the cloud and provide joint support services to ensure the best cloud experience for customers.

Regional Growth Analysis:

The market is dominated by North America, followed by Europe, Asia, and RoW. The market in North America is expected to witness the highest growth during the forecast period. The high growth of the North American market can be attributed to the increasing adoption of healthcare intelligence solutions and services by healthcare providers (especially in the US) to provide better quality care and lower healthcare costs is a major factor driving market growth.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global healthcare business intelligence market?
2. What are the drivers, restraints, opportunities, and challenges in the healthcare business intelligence Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of healthcare business intelligence in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Key Players:

The market is highly competitive in nature, with several big as well as emerging players. Prominent players in this market include Microsoft (US), IBM (US), Oracle (US), SAP SE (Germany), SAS Institute Inc. (US), Tableau Software (US), MicroStrategy Incorporated (US), QlikTech International AB (US), Information Builders (US), Sisense Inc. (US), Yellowfin BI (Australia), and BOARD International (Switzerland).

IBM is one of the key players in the healthcare BI market and provides a comprehensive range of solutions for this market. IBM is an innovation-centric company; its R&D expenditure has increased substantially in 2017 as compared to 2015. In 2017, it invested 7.3% of its annual revenue in R&D activities. This significant investment allows the company to offer innovative solutions by adopting new product launches.