Healthcare Business Intelligence (BI) Market Size, Share & Segment By Component Type (Software, Services), By Mode of Delivery (On-premise, Cloud-based, Hybrid), By Application (Financial Analysis, Operational Analysis, Clinical Analysis, Patient Care), By End-use (Payers, Healthcare Provider, Healthcare Manufacturers), by Regions and Global Forecast 2022-2028

Pune, Maharashtra -- (SBWire) -- 10/11/2022 --Healthcare Business Intelligence (BI) Market Size was valued at USD 6.4 billion in 2021, and is expected to reach USD 15.88 billion by 2028, and grow at a CAGR of 13.7% over the forecast period 2022-2028. Organizations employ a variety of tools, programs, methodologies, and technologies as part of the business knowledge (BI) process to gather data from internal and external sources, arrange it for analysis, and then create and run queries on the data. Healthcare business intelligence is the gathering, analysis, and application of clinical, financial, operational, and non-conventional information from both internal and external sources in order to make informed decisions. The growth of big data is expected to have significant positive effects on the healthcare industry for business intelligence. These solutions help users be more productive and efficient in a variety of applications, including those involving administration, people management, financial management, and health care.

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Drivers, Restraints, Opportunities, and Challenges
The healthcare business intelligence (BI) market is predicted to increase during the forecast period due to the rising need for improved claim management solutions in the healthcare industry and the rising requirement for data mining applications to improve patient care. The rising demand for better cost management solutions is expected to lead to growth in the global healthcare business intelligence market over the forecast period. The demand for faster decision-making solutions in the healthcare industry is another factor that will likely lead to an expansion of the global market for healthcare business intelligence in the near future. End users can use the graphs in BI-enabled analytics to make data-driven decisions that lower operating expenses and improve service. Due to these benefits that BI solutions offer, it is projected that the healthcare business intelligence market would grow.

Impact of the COVID-19 Pandemic
Almost every area of the globalized economy has been negatively impacted by the ongoing COVID-19 pandemic, with a few notable outliers, such as the mobile business intelligence industry. Due of the disease's rapid spread, face-to-face interaction has been restricted, which has increased usage of mobile devices. Because of the pandemic's impact on how people work, employers are under more pressure to give remote workers the resources they need to use their smartphones and tablets successfully.

Market Segmentation
By Component Type
1.Software
2.Services

By Mode of Delivery
1.On-premise
2.Cloud-based
3.Hybrid

By Application
1.Financial Analysis
2.Operational Analysis
3.Clinical Analysis
4.Patient Care

By End-use
1.Payers
2.Healthcare Provider
3.Healthcare Manufacturers

Based on application, it is estimated that the financial analysis area will be the most profitable throughout the course of the projected time. The category is likely to have significant growth throughout the anticipated period as a result of payers' increased focus on preventing fraud and cutting wasteful spending.
The healthcare business intelligence (BI) market is predicted to be dominated by the cloud-based segment due to its high acceptance, cost-viability, and features like skillfulness and applicability of cloud-based tools. The cloud-based segment currently holds the largest share in terms of delivery method.
The healthcare payer segment has the largest market share in terms of end users owing to suppliers' increasing usage of financial analytic software for the management of the income cycle, risk assessment, and claims processing.

Regional Analysis
North America has the largest regional healthcare business intelligence (BI) market, followed by Europe on account of the presence of multiple software companies locally and the rapid adoption of cutting-edge medical technologies. The rising adoption of healthcare intelligence solutions and services by healthcare providers to provide better treatment and decrease healthcare costs is one important driver driving market expansion in the North American sector. However, Asia Pacific is predicted to experience the fastest CAGR throughout the projection period due to rising disposable income, increasing internet usage, and improving healthcare infrastructure.

Competitive Landscape Outlook
Some of the prominent companies present in the healthcare business intelligence (BI) market are IBM Corporation, SAS Institute, Information Builders, TIBCO Software, Tableau Software, Oracle Corporation, and Qlik.

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Table Of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War

5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis

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