The global healthcare predictive analytics market is expected to reach USD 19.5 billion by 2025, according to a new report by Grand View Research, Inc. Healthcare costs are increasing day by day and are anticipated to increase further. For instance, as per the IBM Global Business Services executive report in 2014, the per capita health expenditure of the U.S. was around USD 9,400 which was almost 2.4 times greater than the global average.
Government authorities, health organizations, and private players are striving to bring down health-care expenditure. Healthcare predictive analytics helps in bending the cost curve through optimization of the existing clinical workflow, operations, and payment strategies.
With the advent of IoT in health-care and wearable technology, people are more aware of the available health metrics monitoring platforms and choose to closely monitor health parameters. This phenomenon is generating huge amount of patient data inclusive of diet habits, physiological parameters, and vital signs. Predictive modeling based on this data helps in understanding disease patterns using statistical tools to draw an analysis of key therapy trends and outcomes.
U.S. healthcare predictive analytics market, 2014 - 2025
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Further key findings from the study suggest:
Grand View Research has segmented the global healthcare predictive analytics market on the basis of application, end-use, and region:
Global Application Outlook (Revenue, USD Million, 2014 - 2025)
Global End-use Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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