The healthcare predictive analytics market involves the use of data, statistical models, and AI-driven tools to analyze healthcare data and predict future outcomes such as patient risks, hospital readmissions, disease trends, and operational efficiency. It is widely applied in patient risk prediction, population health management, fraud detection, personalized medicine, and clinical trial optimization. Growth is driven by the rising need for cost reduction, adoption of electronic health records (EHR), increasing focus on value-based care, and advancements in AI and machine learning. However, challenges such as data privacy concerns, high implementation costs, and lack of skilled professionals hinder adoption. Key end users include hospitals, insurers, pharma and biotech companies, and public health organizations. The market outlook is strong as healthcare shifts from reactive care to predictive and preventive care, with predictive analytics playing a central role in improving patient outcomes and optimizing healthcare systems.
According to Fortune Business Insights, the global healthcare predictive analytics market size was valued at USD 12.96 billion in 2023 and is projected to grow from USD 16.75 billion in 2024 to USD 184.58 billion by 2032, exhibiting a CAGR of 35.0% during the forecast period. North America dominated the healthcare predictive analytics market with a market share of 40.82% in 2023.
October 2022 – Oracle announced that WellSpan Health has opted for Oracle Fusion Cloud-Based Predictive Analytics Application Suite to unify operations and improve its business visibility.
Fortune Business Insights highlights critical market drivers, including: