The healthcare BI market will show rapid growth due to the implementation of government initiatives to increase EHR adoption, increasing number of patient registries and the emergence of big data in the healthcare industry.

Healthcare decision-makers are increasingly recognizing the potential of patient data for business intelligence. The patient data if processed using business intelligence software can help to improve services for clinical performance, patient management, disease management, and cost and waste reduction.

The government regulations in several countries such as the US and Europe are boosting the uptake of healthcare BI platforms. For example, according to the Affordable Care Act in the U.S. that came into effect in 2010, the healthcare industry needs to replace outdated healthcare platforms with newer ones. Due to such amends, healthcare establishments are compelled to adopt advanced healthcare BI platforms. However, reforms in government policies and efforts to upgrade healthcare infrastructure is likely to fuel the growth of healthcare BI platform market in emerging economies in the near future.

Key Market Trends

Cloud-Based Model is Expected to be the Fastest Growing Segment Under Mode of Delivery in the Healthcare BI Market

The cloud-based delivery model has found to be the fastest growing segment as companies are increasingly adopting cloud-based business intelligence tools, such as Customer Relationship Management (CRM) applications by salesforce, patient engagement CRM and others. This is due to the properties such as agility and accessibility of cloud-based tools. In addition, they are cost-effective, user-friendly technologies, and has a higher acceptance rate, therefore all these factors are contributing to the significant share of the segment.

Increasing adoption of cloud-based models coupled with the high dependency of healthcare on digital technology to operate functions of a complex healthcare system is further boosting the market growth.

North America is Found Leading the Healthcare BI Market

North America is found dominating the global market due to the increasing implementation of healthcare BI solutions and services by the providers to offer enhanced patient care and there is also presence of large manufacturing hubs. Moreover, constantly upgrading healthcare and IT infrastructure along with increased adoption of cloud computing is contributing significantly to the market growth.

Additionally, the high acceptance rate of advanced technology and changing analytics protocols are anticipated to support the growth of the North American healthcare business intelligence (BI) market.

Competitive Landscape

The market is moderately competitive in nature, with several big as well as emerging players. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. Oracle Corporation, Microsoft, Sisense Inc. are among few key players accounting for majority of the market share owing to their strong global footprint, extensive product portfolios, and increased focus on advancements in healthcare business intelligence solutions.

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