Major players in the healthcare business intelligence market are Microsoft Corporation, Oracle Corporation, Tableau Software, SAP SE, IBM Corporation, QlikTech International AB, Sisense Inc, SAS Institute Inc, BOARD International, Yellowfin BI, MicroStrategy Incorporated, Infor Inc, Domo Inc.
New York, Sept. 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Healthcare Business Intelligence Global Market Report 2022” – https://www.reportlinker.com/p06318592/?utm_source=GNW
, Information Builders, Perficient Inc., Tibco Software Inc., and Panorama Software Inc
The global healthcare business intelligence market is expected to grow from $6.55 billion in 2021 to $7.51 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. The healthcare business intelligence market is expected to reach $12.69 billion in 2026 at a CAGR of 14.0%.
The healthcare business intelligence market consists of sales of healthcare business intelligence services by entities (organizations, sole traders, and partnerships) that are used in the process of collecting and refining large amounts of data from the massive healthcare industry.Healthcare business intelligence refers to dashboards, metrics, reports, and solutions designed to identify patterns and help drive outcomes.
Healthcare providers use business intelligence to achieve the insight they need to increase revenue, reduce costs, and improve patient safety and outcomes.
The main components of healthcare business intelligence are platforms, software, and services.A platform refers to software that helps healthcare businesses gather, understand, and visualise their data.
The functions include query and reporting; OLAP and visualization; performance management; hybrid models; and cloud-based models. The mode of delivery includes on-premise, hybrid, and cloud-based models, applied in financial analysis, clinical data analysis, patient care analysis, and other applications used by payers, healthcare providers, and other end-users.
North America was the largest region in the healthcare business intelligence market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the healthcare business intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The healthcare business intelligence Market Research Report is one of a series of new reports that provides healthcare business intelligence market statistics, including healthcare business intelligence industry global market size, regional shares, competitors with a healthcare business intelligence market share, detailed healthcare business intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare business intelligence industry. This healthcare business intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in healthcare spending is expected to propel the growth of the healthcare business intelligence (BI) market going forward.Healthcare spending refers to all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid designated for healthcare spending.
Healthcare business intelligence offers various benefits for the improvement of patient safety and other healthcare improvements.As a result, a rise in healthcare spending increases the demand for the healthcare business intelligence market.
For example, the Centers for Medicare and Medicaid Services, a federal agency within the United States Department of Health and Human Services, estimates that health-care spending in the United States will increase 9.7 percent in 2020, reaching $4.1 trillion, or $12,530 per person.Health spending accounted for 19.7% of the nation’s gross domestic product. Therefore, the rise in healthcare spending is driving healthcare business intelligence.
Technological advancement is a key trend gaining popularity in the healthcare business intelligence market.Companies operating in business intelligence are developing innovative solutions to strengthen their market.
For instance, in February 2019, Hologic Inc., a US-based technology company operating in the healthcare business intelligence market, released a business intelligence solution to assist in the management of mammography devices, as well as the prevention of unplanned downtime and the monitoring of technician performance by using predictive tube replacement technology. The innovative technology also provides actionable insights to help imaging centres improve their efficiency.
In September 2021, Azalea Health, a US-based cloud-based health IT platform, acquired DashboardMD for an undisclosed amount.This acquisition of cloud-based software solutions gives healthcare providers the ability to draw actionable insights straight from electronic health records, leading to better patient outcomes through technology and data-augmented care.
DashboardMD is a US-based cloud provider of healthcare business intelligence services.
The countries covered in the healthcare business intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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