The global healthcare business intelligence market was valued at an estimated $2,376.6 million in 2013 and is expected to grow at a CAGR of 14.8% in the next five years. This high growth is mainly attributed to federal health reforms, rise in healthcare data, need to manage rising healthcare costs, improve medical outcomes & patient satisfaction and meet with increasing regulatory compliance requirements.
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North America dominates the healthcare business intelligence market with U.S. carrying the major market share.
North America is also poised to grow at the fastest CAGR during the forecast period owing to growing adoption of BI systems by the healthcare providers. North America is followed by Asia in terms of growth attributed to growth in BI adoption by China, India, Singapore, Malaysia, among others.
Complete report on Healthcare Business Intelligence Market spread across 200 pages, Profiling 10 Companies and Supported with 72 Tables and 16 Figures is now available at www.rnrmarketresearch.com/healthca…arket-report.html .
The European healthcare business intelligence market is expected to grow at a lowest CAGR mainly due to economic crisis, cultural barriers to IT adoption, and lack of initiatives for implementing BI systems. Countries such as Australia, New Zealand, Middle East and Africa are expected to better drive the market growth as compared to Europe.
The healthcare BI market for clinical applications segment is expected to grow at a highest CAGR during the forecast period.
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1 Contribution of Healthcare to Overall BI Market
2 Global Healthcare BI Market Size
3 Market Dynamics
4 Life Cycle Plot
5 Market Snapshot
6 Market, By Function
7 Market, By Application
8 Technology Market
9 End User Market
10 Geographic Analysis
11 Competitive Landscape
The healthcare IT expenditure in China grew from $135 billion in 2006 to $250 billion in 2010. In addition, the Indian government annually spends approximately 5% of its GDP on the healthcare sector and has approved 100% foreign direct investment (FDI) for setting up hospitals in India since 2000.
Also, it is among the leading IT outsourcing and medical tourism destinations. All the above mentioned factors contribute to the potential growth opportunity of the healthcare business intelligence market.
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The healthcare business intelligence market is segmented on function, application, technology, end user, and geography. On the basis of function, the market is broadly classified into query and reporting tools, On-Line Analytical Processing (OLAP) and visualization tools, and Performance Management/ Monitoring & alerts.
Based on application, the market is divided into clinical, financial analysis and operational performance, and cost management.
Key healthcare business intelligence market players
IBM Corporation (U.S.), Information Builders (U.S.), Microsoft Corporation (U.S.), MicroStrategy (U.S.), Oracle Corporation (U.S.) Qlik Technologies, Inc. (U.S.), SAP AG (Germany), SAS Institute, Inc. (U.S.), TIBCO Software Inc. (U.S.), Tableau Software (U.S.), and other players such as Accenture (Ireland), Agilum Healthcare Intelligence(U.S.), CitiusTech (U.S.), Computer Sciences Corporation (U.S.), Dimensional Insight (U.S.), Hexaware Technologies Limited (India), Infosys (India), Jaspersoft (U.S.), Klipfolio Inc. (Canada), Perficient, Inc. (U.S.), Siemens Healthcare (Germany), Tata Consultancy Services (TCS) (India), Wipro Limited (India), among others.
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The healthcare business intelligence market, by technology, is divided into traditional BI, cloud BI and mobile BI. Based on end user, the healthcare BI market is segmented into providers and payers.
Provider market is further classified into hospitals, physician practices/clinics and IDNs/MCOs/ACOs/HIEs. Based on geography, the market is divided into North America, Europe, Asia, and the Rest of the World (RoW).
North American market is further segmented into the U.S. and Canada.
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