The global healthcare business intelligence market size was valued at USD 6.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030. The healthcare BI industry offers benefits such as improved patient safety, minimized costs, and increased revenue earning which enhances financial and operations outcomes. Also, it ensures better clinical performance and better patient outcomes. The healthcare industry is moving into the data-driven world, thereby, increasing the demand for BI tools. The increased adoption of cloud-based BI tools, such as Customer Relationship Management (CRM) applications by renowned market players, patient engagement CRM owing to their properties such as agility and accessibility is propelling the growth.
The adoption of cloud-based software allows hospitals, health providers, payers, and life sciences manufacturers to convert their data into insightful dashboards and graphs, thereby impelling the market growth. In March 2020, the Australian Department of Health launched the Coronavirus Australia App using Google Cloud to deliver real-time information about the virus spread patterns, lockdowns and restrictions, and Covid-19 specific healthcare information. The interactive graphs and dashboard allow the end-user to directly manage revenues, patient care status, service rate comparisons, patient admission trends, and easy access to patient data without going through multiple data siloes. The BI-enabled analytics graphs allow end-user efficiently data-supported decisions to reduce operating costs, improvise service, and propel market growth. Moreover, the introduction of a mobile-friendly BI solution for staying updated is another vital factor driving revenue growth.
The healthcare business intelligence market growth increased by 18.5% from 2019 to 2020
The market is estimated to witness a y-o-y growth of approximately 12.5% to 13.5% in the next 5 years
The outbreak of COVID-19 resulted in an economic downturn, supply chain disruption. However, it had the least impact on the healthcare BI market owing to the increased demand for BI solutions.
The increasing adoption of advanced solutions and the use of BI for emergency medical services is driving the market growth. For instance, AREU was using a BI daily tracker to track infectious people.
The rise in the need for advanced technologies to manage and analyze patient data created an opportunity for cloud computing in the healthcare sector. Also, healthcare providers were focusing on the expansion of highly secure storage cloud solutions to manage a large number of cases.
Market players are rapidly developing data analytics solutions and AI in healthcare to combat the COVID-19 crisis. Increasing investment for cloud-based solutions and the launch of the new solutions is impelling the market growth.
The major benefit of BI also includes improved risk management. Predictive analytics enables healthcare institutions to prevent potential medical challenges patients would face and helps to take timely precautionary measures to mitigate the impact. Also, it is useful in operational management, epidemiology. These BI tools provide critical information in a simplified manner that can be easily interpreted by the users. Also, it supports large-scale data distribution, wherein large volumes of personalized BI content can be efficiently shared with multiple end-users. Thus, owing to the valuable new data insights offered by healthcare BI, the demand for software solutions and services is anticipated to rise at a steady pace over the forecast period. Moreover, the government regulations in countries like the U.S. and Europe allow boosting the uptake of healthcare BI solutions.
The software segment held the largest market share of 69.6% in 2021 owing to its wide usage in the healthcare industry. The business intelligence software allows administrators to track key performance that analyzes, manages, and helps organizations adapt their performance based on accurate data and analytics-based insights. The continuous evolvement of these applications and focus on enhancing patient outcomes along with real-time sharing of patients’ data is contributing to the segment growth. Also, it helps to identify financial patterns and provides insight that assists with decision making.
The increased adoption of software such as SaaS that offers next-generation cloud computing applications such as revenue cycle management, supply chain management, enterprise performance management, enterprise resource planning, and business process management are the factors boosting the growth of the healthcare business intelligence market . Moreover, the SaaS applications allow medical institutions to access multiple security features to keep the patient data secure and the healthcare institutes can ensure that they have accurate information at all times, as it facilitates real-time updates. Moreover, the strategies adopted by key players boost the segment growth. In June 2021, salesforce.com, inc. and amazon web series completed a partnership to deploy an advanced business application that accelerates digital transformation.
The services segment is expected to emerge at a steady growth rate over the forecast period. The services enable structured data-driven decision-making by extracting data from the core system and organizing it into a high-performance data warehouse. The increasing advancements in BI software and the demand for the services such as modernizing data infrastructure are expected to increase over the forecast period. Also, the development of next-gen customized solutions such as intuitive data modeling, robust database design for all the enterprise systems, and smart data visualizations, is a key factor boosting the growth of the services segment.
The cloud-based delivery mode segment held the largest market share of 47.5% in 2021. Cloud computing enables all big data operations through the provision of large storage and processing power. The increased adoption of cloud-based business intelligence tools due to the properties such as agility and accessibility various cloud-based tools adopted by the organizations are Customer Relationship Management (CRM) applications by salesforce, patient engagement CRM, analytics cloud for HR.
The increasing demand for cost-effective, user-friendly technology and higher acceptance rate are the key factors contributing to the high share of the segment. Increasing penetration of cloud computing among healthcare providers to manage the revenue cycle and enhance patient care is further boosting the market growth. Cloud computing enables all big data operations through the provision of large storage and processing power. The rising awareness of telehealth among healthcare providers and the adoption of the telecloud is expected to raise the market.
On-premises deployment is anticipated to witness steady growth over the forecast period. These solutions enable the customizations as per the requirement of an organization. However, distinct challenges such as ineffective implementation and governance, staff recruitment, training, policy and process challenges along with high upfront infrastructure and set up costs, are a few key factors responsible for lower adoption of the on-premise mode of delivery. In addition, due to the risk of security breaches interrupted network performance, majority of the healthcare organizations are shifting towards cloud-based deployments.
Financial analysis is the largest application segment and held a revenue share of 37.0% in 2021. It offers multiple functionalities, such as cost management, cash flow management, claims management, and sales and profitability management. The increased adoption of financial analytic software among the providers for the management of revenue cycle, risk assessment, and claims processing is propelling market growth. According to a study published by McKinsey Global Institute, In the U.S., it is estimated that healthcare organizations opting for business intelligence and big data are capable of collectively saving between USD 300 to USD 450 billion annually.
However, revenue share in the patient care segment is expected to register the fastest CAGR over the forecast period as healthcare organizations are focused on providing advanced patient and clinical care, decreasing readmissions, improving personnel distribution, and managing patient expenses. Thus, they require business intelligence tools in the life science industry to offer enhanced patient care as well-analyzed data offer better insights.
In 2021, healthcare payers accounted for the largest revenue share of 39.0% in 2021. The increased need for optimizing provider networks, and adoption of various healthcare BI tools to efficiently reduce the operational costs and increasing competition among the payers is propelling the market growth. Moreover, the increasing healthcare costs coupled with the rising need to increase memberships and reduce fraudulent claims are some of the factors impelling the adoption of healthcare business intelligence solutions among the payers.
The healthcare manufacturers segment is expected to expand at a significant growth rate over the forecast period. The presence of a large number of pharmaceutical and medical device manufacturers in the developed as well as emerging economies is a major factor responsible for the rapid revenue generation in the segment. Increasing adoption of Software as a Service (SaaS) software by healthcare manufacturers have enabled them to reduce maintenance and development cost, thus expected to boost the segment growth.
Furthermore, customer analytics tools including direct marketing and Customer Relationship Management (CRM) dashboards help the providers such as hospitals, government agencies, employers and private exchangers, and others to maximize their efficiency, improve revenue, and save costs. This, in turn, is further expected to encourage the adoption of business intelligence tools among providers.
North America accounted for the largest revenue share of 47.0% in 2021 owing to the increased implementation of BI solutions and services in healthcare to offer enhanced patient care. The reduced expenses coupled with the presence of large manufacturing hubs are among the key factors driving regional growth. Moreover, the constant upgrading of healthcare and IT infrastructure along with increased adoption of cloud computing is contributing to the growth. U.S. accounted for the highest revenue share in the North American market in 2018 owing to the high adoption of advanced BI technology coupled with changing analytics protocols easy availability of BI infrastructure and professional BIG data crowd.
However, Asia Pacific is anticipated to be the most lucrative regional market over the forecast period owing to the rising awareness about BI tools among healthcare providers and organizations due to increasing government initiatives. Moreover, the increased penetration of mobile-based solutions and increased implementation of technologically advanced BI solutions in the countries including India, China, and Japan is propelling the regional market growth.
Key players operating in the market are Oracle Corporation; SAP; Microsoft; Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; Domo, Inc.; Looker Data Sciences Inc.; and Infor Inc. MicroStrategy Incorporated.; QlikTech International AB; Yellowfin International Pty Ltd; and Board International. The global footprint of key players, extensive product portfolios, and increased focus on advancements in healthcare business intelligence solutions is impacting the market growth. Moreover, the development of mobile-based business intelligence applications by key vendors that allow users to access high-quality analytic services remotely is a key factor driving revenue growth. Some of the prominent players in the global healthcare business intelligence market include:
Tableau Software Inc.
Tibco Software Inc.
Panorama Software Inc
The market size value in 2022
USD 7.8 billion
The revenue forecast in 2030
USD 21.4 billion
CAGR of 13.5% from 2022 to 2030
The base year for estimation
2016 - 2020
2022 - 2030
Revenue in USD million, and CAGR from 2022 to 2030
Revenue, company ranking, competitive landscape, growth factors, and trends
Component, mode of delivery, application, by deployment, end-use, region
North America; Europe; Asia Pacific; Latin America; MEA
U.S.; Canada; Germany; U.K.; Spain; Italy; France; Russia; Japan; China; India; Singapore; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE
Key companies profiled
Oracle Corporation; SAP; Microsoft; Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; Looker Data Sciences, Inc; MicroStrategy Incorporated.; QlikTech International AB; Yellowfin International Pty Ltd; Board International
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This report forecasts revenue growth at the global, regional, and country-level and provides an analysis of the latest industry trends in each of the subsegments from 2016 to 2030. For this study, Grand View Research, Inc. has segmented the global healthcare business intelligence market report based on component, mode of delivery, application, by deployment, end use, and region:
Component Outlook (Revenue, USD Million, 2016 - 2030)
Mode of Delivery Outlook (Revenue, USD Million, 2016 - 2030)
Application Outlook (Revenue, USD Million, 2016 - 2030)
Revenue Cycle Management
Payment Integrity and Fraud, Waste, & Abuse (FWA)
Risk Adjustment and Risk Assessment
Supply Chain Analysis
Quality Improvement and Clinical Benchmarking
Clinical Decision Support
Regulatory Reporting and Compliance
Deployment Outlook (Revenue, USD Million, 2016 - 2030)
End-use Outlook (Revenue, USD Million, 2016 - 2030)
Private Insurance Companies
Employers and Private Exchanges
Hospitals, Physician Practices, and IDNS
Post-acute Care Organizations
Ambulatory Care Settings
Health Information Exchanges (HIEs)
Accountable Care Organizations (ACOs)
Managed Care Organizations (MCOs)
Third-party Administrators (TPAs)
Regional Outlook (Revenue, USD Million, 2016 - 2030)
b. The global healthcare business intelligence market size was estimated at USD 6.9 billion in 2021 and is expected to reach USD 7.8 billion in 2021.
b. The global healthcare business intelligence market is expected to grow at a compound annual growth rate of 13.5% from 2022 to 2030 to reach USD 21.4 billion by 2030.
b. The software segment dominated the healthcare business intelligence market with a share of 69.6% in 2021. This is attributable to its wide usage in the healthcare industry.
b. Some key players operating in the healthcare business intelligence market include Oracle Corporation; SAP; Microsoft; Salesforce; Tableau Software; TIBCO Software Inc.; Sisense Inc.; Looker Data Sciences, Inc.; MicroStrategy Incorporated.; QlikTech International AB; Yellowfin International Pty Ltd; Board International.
b. Key factors that are driving the healthcare business intelligence market growth include the growing adoption of software that offers next-generation cloud computing applications such as revenue cycle management, supply chain management, enterprise performance management, enterprise resource planning, and business process management and the growing need for efficient management of workflows.
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