The Middle East & Africa Healthcare analytics market is expected to be worth USD 2.12 bn by 2029 from USD 0.89 bn in 2024, growing at a CAGR of 18.95% from 2024 to 2029.
The rise in the usage of IT in the healthcare sector over the past years fuelled the growth of analytics in healthcare, which uses chronological data and statistics to analyze the present trends and predict trends in the future, evaluate performance to improve business outcomes. This insurgency is believed to improve healthcare systems' efficiency, accuracy, and service delivery with improved quality and better patient care and clinical outcomes laterally with reduced hospital costs and readmissions. There are a few factors the healthcare analytics market must overcome to have sustained growth through the future, like Security issues, leaking of confidential information, technological and cultural barriers at the data source point, and low availability of a skilled workforce. Besides, the hurdles associated with creating a network of analytics as there are fragmented international political and economic relations may also affect market growth.
Growth opportunities for the Middle East and Africa market lie in adopting electronic health records in healthcare centers. A rise in the incidences of chronic diseases and other various health disorders is likely to outshine the market's demand. Also, increasing cloud-based technology in every application with high-performance levels in maintaining the application more useful and reliable is propelling the market's growth. Health analytics also helps promote quality diagnosis and treatment procedures as it maintains previous health records, which is surging the demand of the market. In addition, rising investments in healthcare centers by both private and public organizations to improve outcomes are fuelling the need for the Middle East and African healthcare analytics market.
The growing prevalence of storing a large amount of data also accelerates the market's growth in this region. In addition, a focus on preventing fraud activities by detecting them early and defending them is ascribed to bolster the market demand. People's priority for personalized medication is also one of the factors magnifying the need of the market. Increasing demand for convenient and straightforward methods in the medical sector is spurring the growth of the healthcare analytics market.
This research report on the MEA Healthcare Analytics Market has been segmented and sub-segmented into the following categories:
By End Users:
Regionally, the Middle East & Africa region accounts for only about 4.6% of the global healthcare analytics market share in 2020 but is predicted to witness the lowest growth rate in the forecast period.
Saudi Arabia, Kuwait, The United Arab Emirates, Qatar, Bahrain, and Oman come under the Gulf Cooperation Council (GCC). These countries are leading with the highest shares of the market with the increasing capital income. A rise in the construction activities of hospitals with the latest equipment is boosting up the growth of the market. The growing flow of patients with various health disorders is also a common factor impacting the market's growth positively. Growing concern towards health is also broadening the demand of the market.
South Africa is next to GCC in holding dominant shares of the market. The adoption of the latest technologies and the launch of innovative devices in healthcare that are highly successful is undoubtedly setting up the market's growth rate. Also, the rise in disposable income in urban areas elevates the demand for the healthcare analytics market to grow in this country. In addition, the government in population health management programs and the launch of reimbursement schemes favoring ordinary people are surging the demand of the market.
KEY MARKET PLAYERS:
Some of the prominent companies operating in the MEA Healthcare Analytics Market profiled in this report are SAS Institute, Inc., Optum, Inc., IBM Corporation, Truven Health Analytics Inc., Cerner Corporation, Verisk Analytics, Inc., McKesson Corporation, Allscripts Health Solutions, Oracle Corporation, MedeAnalytics, Inovalon, Inc. and Health Catalyst.
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