Apr 14, 2021 (Market Insight Reports) -- The global healthcare business intelligence(BI) market size was USD 5.40 Billion in 2019 and is expected to reach USD 15.14 Billion by 2027, at a CAGR of 14.6% during the forecast period, according to a current analysis by Emergen Research. The global healthcare business intelligence market is projected to expand substantially during the forecast period. Substantial market growth can be attributed to the growing need for rapid decision-making solutions in the healthcare industry. The global healthcare business intelligence market is also likely to be driven by the increasing demand for data mining applications to provide better patient care. Moreover, the rising number of patient registries is also expected to augment the global healthcare business intelligence market during the forecast period.
The report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the healthcare business intelligence market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the healthcare business intelligence market.
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The report also studies the key companies of the healthcare business intelligence market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some players analyzed in the report are:
Domo Inc., Tableau Software, Sisense Inc., Microsoft Corporation, Qlik Technologies Inc., Infor Inc., SAP SE, Salesforce.com, Inc., Oracle Corporation, and MicroStrategy Incorporated
Key Highlights of Report
During the forecast period, the on-premises segment is projected to expand at a sluggish pace. Business intelligence systems deployed on-site possess flexibility to be customized according to organizational requirements. The healthcare company can also regulate data protection standards for the on-premises business intelligence solution. This is anticipated to fuel the segment during the forecast period.
During the forecast period, the patient care analysis segment is expected to register the most rapid CAGR of 14.8%. A business intelligence software can collect and interpret all the data in a visual format, offering valuable insights into every aspect of the patient's health. This eliminates the need for repetitive checks, which assists in saving money.
During the forecast period, the Asia Pacific market is expected to register the highest growth rate, due to increasing awareness about mobile business intelligence solutions and adoption of technologically advanced business intelligence solutions in countries such as China, Japan, and India. The market in the region is expected to be further fueled by increasing awareness about business intelligence solutions among healthcare providers and organizations, due to increasing government initiatives, in the near future.
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Emergen Research has segmented the global healthcare business intelligence market on the basis of component, deployment, function, application, end-use, and region.
Component Outlook (Revenue, USD Billion; 2017-2027)
Deployment Outlook (Revenue, USD Billion; 2017-2027)
Function Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End-use Outlook (Revenue, USD Billion; 2017-2027)
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North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)