United States Data-Driven Healthcare Market Insights Forecasts to 2033

• The Market Size is growing at a CAGR of 14.9% from 2023 to 2033
• The US Data-Driven Healthcare Market Size is Expected to Hold a Significant Share By 2033

The US Data-Driven Healthcare Market Size is Anticipated to Hold a Significant Share By 2033, Growing at a CAGR of 14.9% from 2023 to 2033.

Market Overview

The data-driven healthcare refers to the integration and application of advanced data analytics, artificial intelligence (AI), machine learning, and big data technologies to better the healthcare outcome and improve care along with the optimization of operational efficiencies. Using this approach, one would tap into vast healthcare-related data amassed through electronic health records (EHR), clinical trials, patient monitoring systems, and genomic data for support in making decisions in clinical practice, personalization of treatments, and streamlining health processes. A few major catalysts are driving the increase in data-driven healthcare in the United States. For one, a rapidly increasing rate of electronic health record adoption and health information exchanges means that massive data sets can be collected and shared much more easily. AI and machine learning algorithms have evolved enough that diagnostics are more accurate, predictive analytics loom large, and treatment plans are tailored per the patient profile. In addition, the growing demand for affordable healthcare solutions that require better patient outcomes has fueled the shift toward data-driven practices. The U.S. government has significantly bolstered the advancement of data-driven healthcare, for example, through the Health Information Technology for Economic and Clinical Health (HITECH) Act and the 21st Century Cures Act. Such legislation positively encourages the widescale adoption of digital health technologies, interoperability among healthcare systems, as well as investment in innovative healthcare solutions to foster a data-driven healthcare ecosystem.

Report Coverage

This research report categorizes the market for the United States data-driven healthcare based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States data-driven healthcare market. Recent market developments and competitive strategies such as expansion, product launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each United states data-driven healthcare market sub-segment.

Driving Factors

Growing electronic health records adoption and health information exchanges lead to efficient data sharing across healthcare systems. Also, improvement in aspects of artificial intelligence and machine learning leads to accurate diagnostics and personalized treatments along with predictive analytics. In addition, the sector is being pushed towards more data-driven solutions by the increasing need for low-cost access to healthcare services and better patient outcomes. The growing trends in wearable devices and telemedicine also make the increase in health data generated even quicker to speed up adoption of the health care technologies.

Restraining Factors

The major limiting factors in the U.S. data-driven healthcare market are concerns over data privacy and security; very high setup costs; not so interoperable, between systems of healthcare; and resistance from healthcare professionals, slowing adoption of newer technologies.

Market Segment

The U.S.  data-driven healthcare market share is classified into deployment and application.

• The cloud-based segment is expected to hold the largest market share through the forecast period.

The US data-driven Healthcare market is by deployment into on-premise, cloud-based, and hybrid. Among these, the cloud-based segment is expected to hold the largest market share through the forecast period. This is attributed to its increased popularity and the scalability, flexibility, and cost-effectiveness nature of cloud solutions. Cloud-based platforms allow healthcare providers to safely store and access large volumes of patients' information aid in collaboration across various healthcare systems and streamline data management.

• The population health management segment is expected to hold the largest market share through the forecast period.

The US data-driven healthcare market is segmented by application into population health management, drug discovery & development, clinical research, clinical diagnostics, and others. Among these, the population health management segment is expected to hold the largest market share through the forecast period. This is attributed to the increasing thrust in better healthcare outcomes, cost reduction, and health control of large patient populations. Data-driven approaches in population health management empower service providers to analyze enormous volumes of patient data, identify trends in health patterns, predict outbreaks of diseases, and offer proactive care.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States data-driven healthcare market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ACL Digital
• Snowflake Inc.
• Persistent Systems
• Solix Technologies, Inc.
• Inovalon
• Skyflow, Inc.
• Arcadia Solutions, LLC.
• Cloudera, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2024, New product, Inovalon rolled out Converged Submissions, a cloud-based Software as a Service solution streamlining and enhancing the process of submitting encounter data into various risk adjustment programs for accurate submission to agencies like Centers for Medicare & Medicaid Services.

Market Segment

This study forecasts regional and country revenue from 2022 to 2033. Spherical Insights has segmented the United States data-driven healthcare market based on the below-mentioned segments:

United States Data-Driven Healthcare Market, By Deployment

• On-Premise
• Cloud Based
• Hybrid

United States Data-Driven Healthcare Market, By Application

• Population Health Management
• Drug Discovery & Development
• Clinical Research
• Clinical Diagnostics
• Others