The Middle East & Africa Healthcare analytics market is currently at USD 0.63 Billion in 2018 and is estimated to reach USD 1.49 Billion by the end of 2024 at a growth rate of 18.95% during the forecast period 2019-2024.
The rise in 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 the efficiency, accuracy and service delivery for healthcare systems with improved quality and better patients care and clinical outcomes laterally with reduced hospital costs and readmissions.
There are few factors the healthcare analytics market must overcome to have a 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 skilled workforce. In addition, the hurdles that are 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 market in the Middle East and Africa lie in the adoption of electronic health records in the healthcare centers. A rise in the incidences of chronic diseases and other various health disorders is likely to outshine the demand of the market. In addition, increasing cloud-based technology in every application which has high-performance levels in maintaining the application more effective and reliable is propelling the growth of the market. Health analytics also helps to promote quality diagnosis and treatment procedures as it maintains previous health records and this factor is surging the demand of the market. Rising investments in the healthcare centers by both private and public organizations to improve outcomes is fueling the demand of the Middle East and Africa healthcare analytics market.
Growing prevalence to store a large amount of data is also to accelerate the growth of the market in this region. Focus on to prevent fraud activities by detecting early and defending them is ascribed to bolster the demand of the market. People's priority for personalized medication is also one of the factors magnifying the demand of the market. Increasing demand for simple and convenient methods in the medical sector is spurring the growth of the healthcare analytics market.
The Middle-East & Africa healthcare analytics market is categorized on the basis of components, types, applications, delivery modes, end-users, and regions.
On the basis of End-User, The healthcare providers segment among the end-users is predicted to grow at the highest CAGR during the forecast period. Federal mandates for the implementation of EHRs and ICD-10 code sets swing towards value-based medicine and also, the increased focus on reduced costs and quality care are excelling the growth of this segment.
By Region, the MEA market is segmented and analyzed under regions of the Middle-East and Africa. The Middle-East & Africa region accounts for only about 4.6% of the global healthcare analytics market in 2015 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 constructional activities of hospitals with the latest equipment is boosting up the growth of the market. The increasing flow of patients with varied health disorders is also a common factor impacting the growth of the market 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 which are highly successful is undoubtedly setting up the growth rate of the market. Also, the rise in disposable income in urban areas is elevating the demand of the healthcare analytics market to grow in this country. The government in population health management programs and also the launch of reimbursement schemes in favor of the common people are surging the demand of the market.
Top companies in the market
The healthcare analytics market is highly competitive, with several big as well as emerging market players present in the market which include 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.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 Predictive Analytics
5.1.2 Descriptive/Restrospective Analytics
5.1.3 Prescreptive Analytics
5.2 By Application
5.2.1 Financial Analytics
5.2.2 Clinical Analytics
5.2.3 Operational & Administrative Analytics
5.3 By End-user
5.3.1 Public Health Systems
5.3.2 Healthcare Providers
5.3.3 Private Healthcare Providers
5.3.4 Monitoring Agencies
5.3.5 Health Insurance Companies
5.3.6 Clinical and Medical Research Bodies
5.3.7 Technology Vendors
6. Geographical Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 SAS Institute Inc
8.3 Optum Inc.
8.4 IBM Corporation
8.5 Truven Health Analytics Inc.
8.6 Cerner Corporation
8.7 Verisk Analytics Inc.
8.8 Allscripts Health Solutions
8.9 Oracle Corporation
8.10 MedeAnalytics Inovalon Inc.
8.11 Health Catalyst
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures