Healthcare business intelligence is a technology-driven process wherein a wide range of technologies and strategies are used by healthcare organizations to collect data from all the sources in the unit and arrange it in an easily understandable way for analysis. These solutions help a user to improve its efficiency and productivity for various applications such as financial, patient care, workforce, and administration analysis.

Market Dynamics

An increase in healthcare spending, growing adoption of data-driven, decision-making solutions, and government initiatives to increase EHR adoption are some of the driving factors of the global healthcare business intelligence market. An increasing pressure over healthcare organizations to reduce spending and improve patient outcomes, increasing the number of patient registries to maintain, and strategic initiatives by market players to improve awareness about advantages associated with the healthcare BI solutions further propel the market growth during the forecast period.

BI platforms offer end users data with the interactive graphs that allow the client to directly observe revenues, service rate comparisons, patient care status, patient admission trends, and easy access to patient data by gender, age, Emergency Room visits without going through the never-ending information. These graph based data allow clients to efficiently make decisions to decrease operating costs, improve service, and thereby propel the growth in the market.

Based on the component, the global healthcare business intelligence market has been divided into the platform, software, and services. The platform segment held the largest share of the market in 2018 and is expected to maintain its dominance during the forecast period. This can be attributed to increasing demand for customized business intelligence solutions for each industry to integrate BI solutions into existing business and thereby reduce healthcare cost and enhance service efficiency. However, the software segment is anticipated to observe the fastest growth during the forecast period. Based on the function, the market is sub-segmented into query & reporting, OLAP & visualization, and performance management. In 2018, the OLAP & visualization segment accounted for the largest share of the market.

Based on the application, the market is divided into financial analysis, operational analysis, patient care, and clinical analysis. The financial analysis segment accounted for the maximum share of the market in 2018 due to higher demand from healthcare organizations. It is observed that healthcare organizations collectively can save USD 300 – USD 450 billion annually across the U.S. by opting for business intelligence and big data. However, patient care is anticipated to boost the market with the highest rate during the forecast period.

Based on the deployment model, the market has been divided into the on-premise model, cloud-based model, and hybrid model. The cloud-based segment accounted for the largest share of the market in 2018. This can be attributed to high penetration due to user-friendly technology, cost-effectiveness, and its properties such as agility and acceptability of cloud-based tools. However, the hybrid model is anticipated to observe the fastest growth during the forecast period.

North America accounted for the largest share of the market in 2018 and is expected to observe the fastest growth during the forecast period. This can be attributed to the local presence of major software and service provider for healthcare industry such as Microsoft Corporation, Oracle Corporation, and SAS Institute, high awareness about this software, easy access to quality health services, and greater adoption to healthcare solutions by the healthcare industry in the U.S. and Canada. Growing healthcare industries, increasing demand for business intelligence solutions by industries, a single approval system across the European region, and rapid adoption of advanced medical technology are some of the key factors responsible for maintaining the second largest rank of Europe across the world. Asia Pacific is anticipated to witness significant growth due to increasing penetration, spreading IoT connectivity, and growing investment in healthcare infrastructure. Furthermore, healthcare companies are shifting their preference from traditional tool-centric data and tactical projects to strategic and architecture-centric data which can help in enhancing their profits.  

The market research study on “Healthcare Business Intelligence Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global healthcare business intelligence market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global healthcare business intelligence market, its product, distribution channel, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global healthcare business intelligence market size and segment markets by products, distribution channel, and geography along with the information on companies operating in the market. The healthcare business intelligence market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market sizes for different segments have been covered under the scope of the report.

The players profiled in the report include BOARD International, IBM, Information Builders, Microsoft, MicroStrategy Incorporated, Oracle, QlikTech International AB, SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software, and Yellowfin BI. Focus on R&D, providing comprehensive range of solutions to clients, acquisitions, and partnerships are some of the key strategies being adopted by market players to increase their footprints in various sectors of the healthcare business intelligence market. 

Market Segmentation

By Component

• Platforms
• Software
• Services

By Function

• Query and Reporting
• OLAP and Visualization
• Performance Management

By Application

• Financial Analysis
• Operational Analysis
• Clinical Analysis
• Patient Care

By Deployment Model Channel

• On-premise Model
• Cloud-based Model
• Hybrid Model

By End-use

• Payers
• Providers
• Others

By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa