Healthcare Analytics Market - Europe Outlook (2014-18)

Healthcare Analytics Market - Outlook (2014-18)
for Europe
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Table
of Contents
1. Introduction
1.1. Report Description
1.2. Objective
1.3. Scope of the Research
1.4. Regions Covered
1.5. Key Takeaways
1.6. Key Stakeholders
1.7. Key Terminologies
1.8. List of Abbreviations
2. Executive Summary
2.1. Executive Overview
3. Research and Forecasting
3.1. Research Methodology
3.2. Forecasting Methodology
4. Industry Landscape
4.1. Market Size and Growth
4.2. Competitive Landscape
4.3. Market Share
4.4. Company Classification
4.5. Region Outlook
4.6. Market Metrics
4.7. Porter's Five Forces Model
4.8. Key Drivers Analysis
4.9. Key Constraints Analysis
4.10. Key Opportunities Identified
4.11. Key Challenges Identified
5. Market Segmentation
5.1. Region
    5.1.1. Europe
    5.1.1.1. Market Size and Forecasting
    5.1.1.2. Key Drivers Analysis
    5.1.1.3. Key Constraints Analysis
    5.1.1.4. Key Opportunities Identified
    5.1.1.5. Key Challenges Identified
    5.1.1.6. Sub Segments
    5.1.1.6.1. Application : Staffing
    5.1.1.6.2. Application : Research
    5.1.1.6.3. Application : Operational
    5.1.1.6.4. Application : Financial
    5.1.1.6.5. Application : Clinical Intelligence
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5.1.1.6.6. Type : Prescriptive Analytics
    5.1.1.6.7. Type : Predictive Analytics
    5.1.1.6.8. Type : Descriptive Analytics
    5.1.1.6.9. Component : Hardware
    5.1.1.6.10. Component : Services
    5.1.1.6.11. Component : Software
    5.1.1.6.12. Delivery Mode : Cloud
    5.1.1.6.13. Delivery Mode : On-Premise
    5.1.1.6.14. Delivery Mode : Web-Hosted
    5.1.1.6.15. End User : Others
    5.1.1.6.16. End User : Payers
    5.1.1.6.17. End User : Providers
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Introduction 01 5

1. Introduction
1.1. Report Description
Healthcare establishments around the world are confronted with pressure to decrease expenses and
improve synchronization between internal process and patient outcomes. However,evidence is swelling
that the healthcare industry is even more challenged by ingrained inadequacies and sub-optimal clinical
results. Structuring and developing analytic proficiency can help these organizations harness "analytical
tools" to generate actionable insights, make their future vision a reality, progress events and decrease time
to value. This report presents an interpretative easy-to-understand facts of how the current healthcare
analytics market is segmented based on end- user verticals, delivery platforms, applications, technology
components and geography. It cuts through several facets of the healthcare analytics market such as
market size, market share for each segment, and the drivers and inhibitors of this marketplace.
1.2. Objective
This segment outlines the objectives and scope of the research adopted for this study. The objectives of the
study for this research service are as follows:
1. To understand the healthcare analytics market across the globe by addressing the challenges faced by
the healthcare industry with regards to the adoption of analytics.
2. To estimate the size of present global healthcare analytics market and to forecast the global healthcare
analytics market size.
1.3. Scope of the Research
This research report encompasses the global market by end-user verticals, delivery platforms, applications,
technology components and geography.
1.4. Regions Covered
Our report covers all major healthcare analytics markets across the globe. We have covered specific
countries from each region.
USA
It is the most matured markets for healthcare industry
UK
The majority of the healthcare analytics firms have their second offices in the UK
Europe (Germany, France, Italy, Spain, and Parts of Russia)
Most of the countries in Europe have structured healthcare system, hence the scope of analytics becomes
larger
Asia (India, China, Singapore, Japan, South Korea)
Although this market is at a nascent stage but its increasing adoption of IT in healthcare makes it one of the
favorite destinations for healthcare analytics firms
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Rest of the World (Australia, Canada, South Africa,Brazil, U.A.E.)
All these countries have adopted IT in various verticals and are gradually adopting analytics in the
healthcare industry
1.5. Key Takeaways
1. Determining the market potential of the healthcare analytics segment across the globe
2. Major end-users benefiting from healthcare analytics
3. Addressable market in healthcare analytics and how it is affecting the strategic initiatives of leading
companies
4. Identifying drivers & constraints affecting the IT purchase decision of end-users
5. Identifying the target market segments
6. Analyzing the trends, forecasts, and opportunities in the main market and its segments
7. Measuring and forecasting the global healthcare analytics market and its sub markets.
1.6. Key Stakeholders
As a business owner or stakeholder, one needs to pay attention to clues on what is going to happen in the
market, in order to stay ahead in the league. While it is good to participate with the own clan to understand
the current market better and to mature sales performance in existing markets, a smart stakeholder will
always seek information on its market and competition.
The major beneficiaries of these reports are healthcare analytics firms, independent software vendors, IT
service providers, IT hardware companies, and analytics service providers.
This comprehensive report allows companies to alleviate risk, recognize new opportunities andinitiate
effective strategies for growth.
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1.7. Key Terminologies
1. Accountable Care Organization (ACO): An organization of healthcare providers that agrees to be
accountable for the quality, cost, and overall care of medicare beneficiaries who are enrolled in the
traditional fee-for-service program.
2. Centers for Medicare and Medicaid Services (CMS): It is a federal agency within the United States
Department of Health and Human Services(DHHS) that administers the Medicare program and works in
partnership with State Governments to administer Medicaid, the State Children's Health Insurance Program
(SCHIP), and health insurance portability standards.
3. Medicaid: Medicaid is a means-tested health and medical services program for certain individuals and
families with low incomes and few resources. Primary oversight of the program is handled at the federal
level, but each state:a. Establishes its own eligibility standards,
b. Determines the type, amount, duration, and scope of services,
c. Sets the rate of payment for services, and administers its own Medicaid program
4. Medicare:
Medicare is a Federal health insurance program that pays for hospital and medical care for elderly and
certain disabled Americans. The program consists of two main parts for hospitaland medical insurance
(Part A and Part B) and two additional parts that provide flexibility and prescription drugs (Part C and Part
D).
5. Health Care Insurance Exchange (HIE): In the United States of America, health insurance market places,
also called health exchanges, are organizations set up to facilitate the purchase of health insurance in each
state.
6. Health Information Management (HIM): It is the practice of maintenance and care of health records by
traditional (paper-based) and electronic means in hospitals, physician's office clinics, health departments,
health insurance companies, and other facilities that provide healthcare or maintenance of health records.
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1.8. List of Abbreviations
1. Accountable Care Organization (ACO): An organization of healthcare providers that agrees to be
accountable for the quality, cost, and overall care of medicare beneficiaries who are enrolled in the
traditional fee-for-service program.
2. Centers for Medicare and Medicaid Services (CMS): It is a federal agency within the United States
Department of Health and Human Services (DHHS) that administers the Medicare program and works in
partnership with State Governments to administer Medicaid, the State Children's Health Insurance Program
(SCHIP), and health insurance portability standards.
3. Medicaid : Medicaid is a means-tested health and medical services program for certain individuals and
families with low incomes and few resources. Primary oversight of the program is handled at the federal
level, but each state:
a. Establishes its own eligibility standards
b. Determines the type, amount, duration, and scope of services
c. Sets the rate of payment for services
d. Administers its own Medicaid program
4. Medicare : Medicare is a Federal health insurance program that pays for hospital and medical care for
elderly and certain disabled Americans. The program consists of two main parts for hospital and medical
insurance (Part A and Part B) and two additional parts that provide flexibility and prescription drugs (Part C
and Part D).
5. Health Care Insurance Exchange (HIE): In the United States, health insurance market places, also called
health exchanges, are organizations set up to facilitate the purchase of health insurance in each state.
6. Health Information Management (HIM): It is the practice of maintenance and care of health records by
traditional (paper-based) and electronic means in hospitals, physician's office clinics, health departments,
health insurance companies, and other facilities that provide healthcare or maintenance of health records.
9

Executive Summary 02 10

2. Executive Summary
2.1. Executive Overview
Federal healthcare mandates and, benefits associated with the utilization of analytics (such as improved
patient results, physician performance evaluation, quality care and fraud detection,technological
advancements, increasing healthcare information technology adoption, and venture capital investments)
are among several drivers of the global healthcare analytics, which is projected to be worth more than USD
10 billion by 2018.
Currently, the worldwide market is valued to be worth an estimated USD 4.8 billion, however it will grow at
a CAGR of more than 22% over the next 4 years. Development is primarily driven by Predictive Analytics and
Prescriptive Analytics in the US and Asia.
End users in the market's growth include healthcare providers, health information exchanges and
accountable care organizations. In the USA, federal mandates such as International Statistical Classification
of Diseases -10 (ICD-10) and use of Electronic Health Records (EHR) will be critical to such growth. Factors
such as data security issues, cultural barriers to IT adoption and a lack of skilled manpower in the field of
analytics could hinder the marketgrowth.
The marketplace is segmented based on Products, Applications, Components, Delivery Modes, End- Users
and Geography. On the foundation of product type, the market is split into descriptive,predictive, and
prescriptive analytics. The market, by component, is then separated into hardware, software, and services.
Established in the mode of delivery, the securities industry is classified into on-premise models, web-hosted
model, and cloud-based models. Based on end-users,the market is segmented into healthcare and others.
The healthcare segment is further divided into healthcare payers, healthcare providers, Health Information
Exchanges (HIEs), and others. The market is further classified into the USA, UK, Europe, Asia, and the Rest of
the World (RoW),based on geography.
Our forecasting reveals that this market would experience a double - digit growth because of the various
benefits healthcare industries perceive in adopting analytics. The perceived benefits areas follows:
a. Advanced pronouncements about when and how to care
b. Improved revenue management cycle
c. Better consumer commitment, health and supervision tools
d. Clinical analytics integrated with health management
e. Consolidation of health supervision tools with communication tools, workflows, and analytics
f. Claims data analysis for fraud detection, etc.
These are few of the factors which have increased the adoption rate of analytics in the healthcare sector.
However, lack of manpower with technical and functional expertise, weak communication infrastructure
and data breaches are some of the elements which could potentially hamper the development of this
marketplace.
The Asian healthcare analytics market is at a nascent stage but with various mandates from Government
authorities, increasing IT adoption across the globe, digitization of global commerce and with increasing
awareness on analytics and Big Data, it is now no hidden fact that healthcare IT market has a huge
development potential in Asia as well.
The U.K. healthcare analytics market is big and established, and is second only to the U.S.A and inspite of
being a mature market, they are nonetheless a very lucrative marketplace. It is the onus of the healthcare
organizations to keep themselves employed and updated on rapid and drastic advancements in analytics.
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Research and Forecasting 03 12

3.1. Research Methodology
Base Year: 2014
Forecasting Period: 2015 - 2019
3.1.1. Sampling
The leading suppliers of each end-user product categories that were chosen to provide a larger
representative sample.
Purposive unit sampling was adopted for every service segment such as verticals, regions, end-users and
others. This was resorted to, in order to elicit the appropriate inputs with regard to the qualitative growth
aspects of the market.
3.1.2. Secondary Research
The research methodology that was carried out was desk research through various journals, association
reports, and in house database to build a knowledge base on various market service segments, product
categories and industry trends.
Various fact based data was analyzed. Some of the sources included:
a. ResearchFox Knowledge Base:
Previous data on the market has been put through a rigorous and comprehensive analysis to analyze
the current state.
b. Desk Research:
Industry reports, annual reports, press releases, webinars, journals and publication, independent rating
agencies and government statistics.
3.1.3. Primary Research
Primary interviews were conducted among various stakeholders:
Product and service companies
Members of associations and alliances
Subject Matter Experts and Evangelists
Consultants and Strategists
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3.1.4. Industry Information
It was essential to understand the current industry landscape, market dynamics, security ecosystem and
competitor metrics. To estimate the global market, Chief Experience Officers (CXOs), Marketing Heads, Sales
Managers and product stakeholders were interviewed.
3.1.5. Technical Information
In addition to the interviews with leading participants for industry-related information, ResearchFox
conducted interviews with Research and Development (R&D) and Design and Development teams to
understand the current usage of the products by service type and also to find out the emerging trends.
Finally, interviews with suppliers were conducted to cross check the validity of information and also to
understand the emerging trends in the end-user segment.
The detailed methodology for primary research is outlined below.
3.1.6. Primary Interview Questionnaire Design
ResearchFox developed a detailed questionnaire, which was used by the analysts as a guide for their
discussions. This process ensured the collection of all necessary data. The questionnaire was designed to
elicit unbiased industry level data (market size, production, sales, and others), that had check points
(questions such as company level information and their position in the industry acted as check points) to
ensure accuracy of the data. The questionnaire included the following sections:
1. Industry level information
2. Characteristics and Dynamics
3. Company-specific information
4. Market segmentation data
3.1.7. Interview Questionnaire Test and Validation
Following the design of the questionnaire, ResearchFox carried out some initial interviews to verify that the
appropriate market and technology data was generated. After the final design of the questionnaire,
ResearchFox began full scale primary research. Specific companies targeted for primary research interviews
were selected based upon market participation. Higher was the entity's profile, more attractive was the
entity.
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3.1.8. Interview Process
As participants respond in the course of an interview, ResearchFox analysts are trained to move from lower
priority and/ or sensitive topics to increasingly key and/or sensitive topics in response to the interviewee's
behavior. This responsive and reflective interview process, combined with the analysts' ability to discuss the
industry and technical issues in an open and sharing environment, allows ResearchFox to probe for key
data, operations, and competitive information. Multiple contacts within a single organization and with an
individual are often planned and/or staged in order to optimize and complete the information gathering
process.
3.1.9. Research Validation
At a point, when 20 percent of the research interviews and/or data collection had been completed,
ResearchFox consultants evaluated the preliminary findings to assure that up-to-date results are in line with
project objectives. The analyst team analyzed the information from the interviews and information was
validated through a combination of the following validation techniques:
Cross checking with other primary data and previously developed in-house research
Review of secondary information, such as trade journals, annual reports and industry directories
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3.2. Forecasting Methodology
3.2.1. Step-by-Step Methodology for Market Estimation and Forecasting
Market Estimation and Forecast Methodology, 2015
Step Method
1
Understand the market mechanism for the market through structured, systematic and theoretically established
norms of analyzing, designing, introducing and quality assurance of the market estimation
2 Measuring the various market drivers, constraints, opportunities and challenges at regular intervals of time
3 Integrate expert-opinion of discussions in consultation with the ResearchFox Analyst team
4 Market estimation and forecast calculation
5 Delphi method and Causal Analysis used as and when required
6
Rigorous quality check with heads of Research Team, Subject Matter Experts and Consultants before final
publication
Source: ResearchFox
Significance and Importance of the Market Forecast, 2015
Sr. No. Significance and Importance
1 Helps revisit on the company's R&D investments
2 Keeps the Sales and Marketing team posted on the market prospects
3 Strategize investment and expansion plans
4 Improve business planning
5 Helps create business aims and set sales figures within the company
6 Aware of the current market competition
7 Support plans for Merger and Acquisition (M&A)
Source: ResearchFox
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Healthcare Analytics Market - Europe Outlook (2014-18)

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