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FY2017 – FY2027 INDIA HEALTHCARE ANALYTICS MARKET FORECAST & OPPORTUNITIES

www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report

Product of Interest (POI): Healthcare Analytics

Healthcare analytics refers to the use of vast amounts of collected data to provide organizations with actionable insights. These insights are developed through analytical disciplines to drive fact-based decision making. In turn, these decisions improve planning, management, measurement and learning.

Market Segmentation HEALTHCARE ANALYTICS MARKET

Year Range DEPLOYMENT MODE • Cloud • On-premise

REGION • North

• South • East • West

TYPE

• Descriptive Analytics

COMPONENT • Solution • Service

FY2017 – FY2020 Base Year

FY2021

• Predictive Analytics • Prescriptive Analytics

Review Period

APPLICATION • Financial Analytics

Estimated Year

FY2022

• Operational & Administrative

Analytics • Clinical Analytics

Forecast Period

FY2023 – FY2027

• Population Health Analytics

2

Table of Contents S. No.

Contents

1.

2.

Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

Research Methodology (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)

3.

Impact of COVID-19 on India Healthcare Analytics Market

4.

Executive Summary (This chapter covers summary of the complete study.)

5.

Voice of Customer

6.

India Healthcare Analytics Market Outlook, FY2017-FY2027F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

6.1.

Market Size & Forecast 6.1.1.

6.2.

6.3.

7.

By Value (USD Million)

Market Share & Forecast (This chapter would include the market size i.e., the revenue generated from the India healthcare analytics market in one year. In this case, the market size will be provided in value terms for historic period (FY2017-FY2020); current/base year (FY2021); estimated year (FY2022E); and forecast (FY2023-FY2027)) 6.2.1.

By Component (Solution, Services)

6.2.2.

By Deployment Mode (On-premise v/s Cloud)

6.2.3.

By Type (Predictive Analytics, Prescriptive Analytics, Descriptive Analytics)

6.2.4.

By Application (Financial Analytics, Operational & Administrative Analytics, Clinical Analysis, Population Health Analytics)

6.2.5.

By End User (Healthcare Payers, Healthcare Providers, Pharmaceutical Companies, Others)

6.2.6.

By Region

6.2.7.

By Company (FY2021)

Product Market Map (By Component, By Deployment Mode, By Type, By End User)

North India Healthcare Analytics Market Outlook, FY2017-FY2027F 7.1.

Market Size & Forecast

3

Table of Contents

Ta b l e o f C o n t e n t s

S. No.

Contents 7.1.1.

7.2.

8.

Market Share & Forecast (By Value) 7.2.1.

By Component

7.2.2.

By Deployment Mode

7.2.3.

By Type

7.2.4.

By Application

7.2.5.

By End User

South India Healthcare Analytics Market Outlook, FY2017-FY2027F 8.1.

Market Size & Forecast 8.1.1.

8.2.

9.

By Value (USD Million)

By Value (USD Million)

Market Share & Forecast (By Value) 8.2.1.

By Component

8.2.2.

By Deployment Mode

8.2.3.

By Type

8.2.4.

By Application

8.2.5.

By End User

East India Healthcare Analytics Market Outlook, FY2017-FY2027F 9.1.

Market Size & Forecast 9.1.1.

9.2.

By Value (USD Million)

Market Share & Forecast (By Value) 9.2.1.

By Component

4

Table of Contents

Ta b l e o f C o n t e n t s

S. No.

Contents

10.

9.2.2.

By Deployment Mode

9.2.3.

By Type

9.2.4.

By Application

9.2.5.

By End User

West India Healthcare Analytics Market Outlook, FY2017-FY2027F 10.1.

Market Size & Forecast 10.1.1.

10.2.

11.

By Value (USD Million)

Market Share & Forecast (By Value) 10.2.1.

By Component

10.2.2.

By Deployment Mode

10.2.3.

By Type

10.2.4.

By Application

10.2.5.

By End User

Market Dynamics (This chapter assesses the major demand drivers and restraints.)

11.1.

Drivers

11.2.

Challenges

12.

Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)

13.

Policy & Regulatory Landscape

14.

India Economic Profile

15.

Competitive Landscape (Top 10 Companies) 15.1.

Competition Outlook

5

Table of Contents

Ta b l e o f C o n t e n t s

S. No.

Contents 15.2. Company Profiles (Top 10 Leading Companies) 15.2.1. Company Details 15.2.2. Products & Services 15.2.3. Financials (As Reported) 15.2.4. Key Market Focus & Geographical Presence 15.2.5. Recent Developments 15.2.6. Key Management Personnel 16.

Strategic Recommendations

17.

About Us & Disclaimer

6

RESEARCH METHODOLOGY

Research Methodology

Market Profiling

In-depth secondary research was conducted to determine top players in the India healthcare analytics market, overall market size and segmental market size.

Formulating Questionnaire

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

Developing List of Respondents

Data Collection

Data Validation

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

List of industry players and industry specialists was developed.

Primary Research

Data Collection

Data Filter & Analysis

Research & Intelligence

Actionable Insights

Business Solution

LinkedIn TechSci Internal Database

✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Final Conclusion

✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews

Primary Research ✓ ✓

Desk Research

Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.

Data Analysis

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India healthcare analytics market.

Company Analysis ✓ Market Participants ✓ Key Strengths

Paid Sources

✓ ✓

Factiva Hoovers

8

Research Methodology Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of India healthcare analytics market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing prevalence of diseases, especially chronic diseases such as cancer, diabetes, renal diseases, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India healthcare analytics market.

Methodology Followed for Calculation of Market Size:

•

Market Size by Value: Market size, in terms of value, for the year FY2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as service providers, channel partners, end users, industry experts, and other industry participants.

•

The team interviewed more than 40 –50 service providers, 180 – 200 end users, and 15 – 20 industry experts and other value chain stakeholders in the India healthcare analytics market to obtain the overall market size from FY2017 to FY2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2017-2018.

9

Research Methodology •

Respondents were asked about the current and future market growth rates, market shares by component, by deployment mode, by type, by application, by end user, by region, by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares: Market shares by component, by deployment mode, by type, by application, by end user, by region, by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various types of healthcare analytics. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting: •

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

•

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India healthcare analytics market, TechSci Research used various forecast techniques such as:

✓

Moving Average

✓

Time Series Analysis

✓

Regression Analysis

✓

Econometric and Judgmental Analysis

10

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be

noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed

Key Secondary Sources

▪ Allscripts India Pvt. Ltd.

▪ World Bank

▪ Cerner Healthcare Solutions India Private

▪ TechSci Research Proprietary Database &

Limited

Knowledge Repository

▪ Citius Tech India Pvt. Ltd.

▪ Company Annual Reports

▪ IBM India Pvt. Ltd.

▪ Industry Magazines

▪ McKesson Corporation

▪ Industry Reports

▪ Philips India Healthcare Ltd.

▪ News Dailies

▪ Medtronic India Pvt. Ltd.

▪ Credible Paid Databases

▪ Oracle India Pvt. Ltd. ▪ Wipro Ltd. ▪ Optum Health and Technology India Pvt. Ltd.

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Industry Brief According to TechSci Research report, “India Healthcare Analytics Market By Component (Hardware, Software, Services), By Deployment Mode (On-premise v/s Cloud), By Type (Predictive Analytics, Prescriptive Analytics, Descriptive Analytics), By Application (Financial Analysis, Operational & Administrative Analysis, Clinical Analysis, Population Health Analysis), By End User (Healthcare Payers, Healthcare Providers, Third Party Administrators, Others), By Company, By Region, Forecast & Opportunities, FY2027”, India healthcare analytics market is expected to witness steady growth for the next five years. Rise in geriatric population and ever-rising demand for accuracy in diagnosis are bolstering the demand for healthcare analytics in the country. Healthcare analytics refers to the collection of data by many organizations in order to provide the insights for fact-based decision-making process. Healthcare analytics also aids in providing safe medications to consumers and make treatments more effective for patients. With the help of healthcare analytics treatment failures and ineffectiveness of the medications can be treated at an early stage. Healthcare analytics also assists researchers and physicians to improve their efficiency by providing them the medical historical data of the patients and analysis of the data to take informed decisions. Also, the shortage of primary physician and nurses at hospitals is putting more burden on overworked professionals. Entry of new market players and adoption of new approaches by existing market players is influencing the market growth for the forecast period. Healthcare analytics reduces the patient wait time by leveraging staffing procedures and staffing facility.

However, increase in prevalence of cybercrime due to digitalization process at healthcare industry may hamper the market growth in the forecast period.

India healthcare analytics market is segmented into component, deployment mode, type, application, end user, region, and company. Based on type, healthcare analytics market is categorized into predictive analytics, prescriptive analytics, and descriptive analytics. Descriptive analytics is expected to hold the majority of market share during the forecast period due to adoption of digital technology and subsequently the large volumes of data generated by healthcare organizations.

It also facilitates analysis of structured and unstructured data to generate the needful insights to aid for better decision-making process. Based on end user, market is divided into healthcare payers, healthcare providers, third party administrators and others. Healthcare payers segment is expected to hold the largest share in market during the forecast period owing to increase in costs for availing healthcare facilities, surge in demand for increasing memberships and optimization of operational costs. Based on component, market is fragmented into hardware, software, and services. Hardware segment is anticipated to witness considerable growth in the forecast period owing to high costs associated with installation of hardware infrastructures. Cost of integrating electronic devices with the system is going to decline in the upcoming years which is anticipated to fuel the demand for hardware market in India. Based on application, market is divided into financial analysis, operational & administrative analysis, clinical analysis, and population health analysis. The financial segment is accounted to register significant growth during the forecast period due to the need to reduce the financial burden over the healthcare industry by unmasking the opportunities which may aid for this process. Financial Analysis segment includes risk adjustment and assessment, fraud analysis and financial settlement claims.

Allscripts India Pvt. Ltd., Cerner Healthcare Solutions India Private Limited, Citius Tech India Pvt. Ltd., IBM India Pvt. Ltd., McKesson Corporation, Philips India Healthcare Ltd., Medtronic India Pvt. Ltd., Oracle India Pvt. Ltd., Wipro Ltd., Optum Health and Technology India Pvt. Ltd. are the leading players operating in India healthcare analytics market. Companies are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several healthcare analytics service providers are coming up with their technologically advanced offerings.

“Healthcare analytics aids in providing personalized treatment and monitoring patient health conditions remotely. The data generated by data analytics is used by government authorities to make healthcare policies and programs relating to a particular demography by identifying the disease patterns and trends in the country. Also, adoption of emerging technologies such as artificial intelligence, big data analytics and machine learning by healthcare industry for better market assessment, customer outreach and brand marketing is anticipated to propel the market growth till FY2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

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Sample Data - Snapshot India Healthcare Analytics Market Size, By Value (USD Million), FY2017-FY2027F 6.00

5.00

FY2017

7.00

8.00

CAGR BY VALUE: XX%

9.00

10.00

FY2021

FY2022E

11.00

12.00

13.00

CAGR BY VALUE: XX%

14.00

15.00

FY2027F

India Healthcare Analytics Market Share, By Component, By

India Healthcare Analytics Market Share, By Deployment Mode, By Value,

Value, FY2017-FY2027F

FY2017-FY2027F

FY2027F FY2025F FY2023F FY2021 FY2019 FY2017

Solution 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

Software 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

FY2027F FY2025F FY2023F FY2021 FY2019 FY2017

On-premise 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

Cloud 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%

India Healthcare Analytics Market Share, By Application, By Value, FY2017-FY2027F

FY2027F FY2026F FY2025F FY2024F FY2023F FY2022E FY2021 FY2020 FY2019 FY2018 FY2017

Financial Analytics Clinical Analytics 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

Operational & Administrative Analytics Population Health Analytics 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

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FORECAST & OPPORTUNITIES FY2017 – FY2027 License Type

Price

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Multi-User License

$4500

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$7500

To View Sample OR Purchase Report

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.