Healthcare Business Intelligence (BI) Market Size, Share, Trends Analysis, 2032

Healthcare Business Intelligence (BI) Market: Industry Perspective

The global healthcare business intelligence (BI) market size was worth around USD 8.02 billion in 2023 and is predicted to grow to around USD 26.27 billion by 2032 with a compound annual growth rate (CAGR) of roughly 14.1% between 2024 and 2032. The report analyzes the global healthcare business intelligence (BI) market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the healthcare business intelligence (BI) industry.

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Healthcare Business Intelligence (BI) Market: Overview

The report covers a forecast and an analysis of the healthcare business intelligence (BI) Market) market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints of the healthcare business intelligence (BI) market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the healthcare business intelligence (BI) market on a global level.

The most common reason to adopt the healthcare business intelligence (BI) solution is the need to manage financial operations, clinical procedures, marketing operations, and patient data effectively. The healthcare organizations are always looking for ways to reduce their overall costs incurred. According to the McKinsey Global Institute, big data and BI could cumulatively save up to USD 300 to 400 billion annually. Healthcare providers use BI software to gain insights into patient satisfaction and take financial decisions based on their findings. The adoption of BI leads to a better organizational quality, which leads to improved patient outcomes. BI also helps in disease prevention on the facility’s patients.

Technological advancements in the field of business intelligence, big data, and cloud computing, rising adoption rate of healthcare analytics software in the field of clinical trials, growing trend of personalized medicines, increasing acceptance of analytics in sales and marketing applications, growing need for improved data regularization, escalating occurrences of chronic diseases, and increasing need for enhanced patient outcomes has activated the healthcare business intelligence (BI) market. Moreover, the need for precise and personalized medicines, cloud-based healthcare business intelligence (BI), the use of big data analytics, and rise in the number of research and development activities are also supporting the market growth. Growing healthcare costs to meet the demand for healthcare business intelligence (BI) would rationalize third-party processes and adjust the overall costs incurred. However, the mounting healthcare costs and analytics solution service charges and lack skilled professionals in this field may restrain the healthcare business intelligence (BI) market in the years ahead.

In order to give the users of this report a comprehensive view of the healthcare business intelligence (BI) market, we have included a competitive landscape and an analysis of Porter’s Five Forces Model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, R&D, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolios of various companies according to regions.

Healthcare Business Intelligence (BI) Market: Segmentation Analysis

The study provides a decisive view of the healthcare business intelligence (BI) market based on type, technology, application, end-user, and region. All the segments have been analyzed based on present and future trends in the market are estimated from 2024 to 2032.

Based on the type, the healthcare business intelligence (BI) market is classified into descriptive, predictive, prescriptive, and others.

Based on technology, the market is segmented into typical architecture BI, mobile BI, cloud BI, and others. Based on application, the market includes financial analysis, marketing analysis, clinical data analysis, patient care analysis, and others.

Based on end-users, the market includes pharmaceutical and biotechnology companies, medical device companies, biomedical research centers, and third-party administrators.

Healthcare Business Intelligence (BI) Market: Regional Analysis

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further classification into major countries including the U.S., Canada, Germany, France, UK, China, Japan, India, and Brazil.

Healthcare Business Intelligence (BI) Market: Report Scope

Healthcare Business Intelligence (BI) Market: Competitive Analysis

Some of the major players in the global healthcare business intelligence (BI) market include:

• BOARD International
• IBM
• Information Builders
• Oracle
• QlikTech International AB
• Microsoft
• MicroStrategy Incorporated
• SAP SE
• SAS Institute Inc.
• Sisense Inc.
• Tableau Software
• Yellowfin BI

The global healthcare business intelligence (BI) market is segmented as follows;

Global Healthcare Business Intelligence (BI) Market: Type Analysis

• Descriptive
• Predictive
• Prescriptive
• Others

Global Healthcare Business Intelligence (BI) Market: Technology Analysis

• Typical Architecture BI
• Mobile BI
• Cloud BI
• Others

Global Healthcare Business Intelligence (BI) Market: Application Analysis

• Financial Analysis
• Marketing Analysis
• Clinical Data Analysis
• Patient Care Analysis
• Others

Global Healthcare Business Intelligence (BI) Market: End-User Analysis

• Pharmaceutical and Biotechnology Companies
• Medical Device Companies
• Biomedical Research Centres
• Third-Party Administrators

Global Healthcare Business Intelligence (BI) Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa