The global healthcare BI market size is estimated to be USD 5,989.7 million in 2021 and is expected to witness a CAGR of 12.8% during the forecast period. Implementation of data-driven policymaking is a key driver for the growth of the global healthcare BI market. Additionally, application of government initiatives to propel EHR adoption and rise in pressure to control healthcare expenditure and increase patient outcomes are some of the other drivers propelling the market growth. However, high investment in healthcare, issues related to patient data privacy and concerns concerning inaccurate and inconsistent data are expected to restrain the global market growth.

By Component

Based on component segment, the market is divided into services and software. In 2021, the software segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to the increase in using business intelligence in the healthcare sector due to various benefits offered by the software segment such as supply chain management, revenue cycle management, business process management, and enterprise resource planning, worldwide. Services segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in the developments in BI software coupled with the rise in demand for the various types of services, namely streamlining data infrastructure.

By Mode of Delivery

Based on mode of delivery, the market is segmented into cloud-based, on-premise, and hybrid. In 2021, the cloud-based segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to various benefits offered by the cloud-based mode of delivery segment such as dexterity and user-friendliness of these tools. Hybrid segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the introduction of innovative technologies that help the key players in reaping the benefits of both the cloud-based and on-premise based mode of delivery.

By Application

Based on application, the market is categorized into operational analysis, financial analysis, patient care, and clinical analysis. In 2021, the financial analysis segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to the rise in acceptance of financial analytic software by the major players for managing risk assessment, revenue cycle, and claims handling worldwide. The patient care segment is anticipated to grow at a profitable CAGR during the forecast period due to the rise in awareness regarding patient care and increase in emphasis on value-based medicine.

By End User

Based on end user, the market is categorized into healthcare providers, payers, and healthcare manufacturers. In 2021, the healthcare payers segment accounted for a substantial revenue share and is anticipated to grow with a lucrative CAGR during the forecast period. This is due to the increase in healthcare expenses combined with rise in demand to grow memberships and decrease deceitful claims worldwide. The healthcare manufacturers segment is anticipated to grow at a profitable CAGR during the forecast period, due to the occurrence of a huge number of medical devices and pharmaceutical manufacturers in the developed as well as developing economies.

Regional Insights

In 2021, North American region held the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the rise in application of healthcare business intelligence solutions, presence of major players in the region, services offered by the providers to bid for improved patient care, and accessibility of technologically advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the less stringent regulations, growing government and corporate investment in healthcare sector, rise in application of mobile-based solutions, and growth in application of technologically advanced BI solutions in the major developing countries.

Competitor Insights

Some of the key players in the healthcare BI market are Microsoft (U.S.); IBM (U.S.); Oracle (U.S.); SAP SE (Germany); SAS Institute Inc. (U.S.); Tableau Software (U.S.); MicroStrategy Incorporated (U.S.); QlikTech International AB (U.S.); Information Builders (U.S.); Sisense Inc. (U.S.); Yellowfin BI (Australia); and BOARD International (Switzerland). The leading players operating in the healthcare BI industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The healthcare BI market report is categorized into the following segments and subsegments:

Healthcare BI Market, By Component (Revenue, USD Million, 2021 – 2029)

• Services
• Software

Healthcare BI Market, By Mode of Delivery (Revenue, USD Million, 2021 – 2029)

• Cloud-based
• On-premise
• Hybrid

Healthcare BI Market, By Application (Revenue, USD Million, 2021 – 2029)

• Operational Analysis
  • Supply Chain Analysis
  • Workforce Analysis
  • Strategic Analysis
• Financial Analysis
  • Claims Processing
  • Revenue Cycle Management
  • Payment Integrity and Fraud, Waste, & Abuse (FWA)
  • Risk Adjustment and Risk Assessment
• Patient Care
• Clinical Analysis
  • Quality Improvement and Clinical Benchmarking
  • Clinical Decision Support
  • Regulatory Reporting and Compliance
  • Comparative Analytics/Effectiveness
  • Precision Health

Healthcare BI Market, By End User (Revenue, USD Million, 2021 – 2029)

• Healthcare Providers
• Payers
• Healthcare Manufacturers

Healthcare BI Market, By Region (Revenue, USD Million, 2021 – 2029)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA

Scope of Healthcare BI Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 15 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details