Summary

Data Monetization Solutions For Healthcare Payers Market Growth & Trends

The global data monetization solutions for healthcare payers market size is expected to reach USD 960.3 million by 2030, registering a CAGR of 15.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. Data monetization solutions in the healthcare payer market involve leveraging healthcare data to generate value and revenue. These solutions encompass strategies to efficiently collect, process, analyze, and commercialize healthcare data. The market is driven by the growing volume of healthcare data, advancements in data analytics and AI technologies, and the increasing need for data-driven decision-making to enhance operational efficiency and patient outcomes. Insurance companies leverage data for various purposes, including sales, customer profiling for renewals, and fraud prevention.

Scorecards and AI-driven models aid in claim assessment, expediting decision-making and reducing fraud. Data integration and AI implementation have enhanced the customer journey, improving satisfaction and retention. AI applications like voice bots and image analytics streamline claims processes, providing real-time assessment and faster claim clearance. Insurers increasingly focus on utilizing advanced technologies to enhance customer experience and operational efficiency. However, data privacy concerns, regulatory complexities, and the need for substantial initial investments are restraining factors in this expanding market. Balancing the innovative use of healthcare data with privacy and compliance will be essential for the sustainable growth of data monetization solutions in the healthcare payer market.

These notable profit gains underscore the successful strategies employed by key players, driving the growth of the market. Their effective utilization of data and strategic decision-making have substantially contributed to this rising trail, showcasing the key role of data monetization solutions in the healthcare insurance sector. For instance, in 2022, the leading insurance companies in the nation, UnitedHealth Group, and Elevance Health, saw significant profit growth compared to 2021, with UnitedHealth’s profits increasing by 28% and Elevance Health’s by 7%. UnitedHealth recorded an impressive USD 5.3 billion profit, while Elevance Health secured USD 1.6 billion.

Data Monetization Solutions For Healthcare Payers Market Report Highlights

• The growing volume of healthcare data, advancements in data analytics and AI technologies, and the increasing need for data-driven decision-making to enhance operational efficiency and patient outcomes are major factors driving the market's growth

• The software segment held the largest revenue share of 57.15% of the market. It is expected to continue its dominance with the fastest growth rate over the forecast period

• North America dominated the global market and held the largest revenue share of 40.84% in 2022

• This is due to the region's highly developed healthcare technology infrastructure and high government spending on healthcare

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Information Procurement
1.2. Information Or Data Analysis
1.3. Market Scope & Segment Definition
1.4. Market Model
1.4.1. Market Study, By Company Market Share
1.4.2. Regional Analysis
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing use of external data sources
3.2.1.2. Digital transformation in the healthcare sector
3.2.1.3. Rising enterprise data volumes
3.2.2. Market Restraint Analysis
3.2.2.1. Data privacy and security concerns
3.2.2.2. Regulatory constraints
3.3. Industry Analysis Tools
3.3.1. Porter’s Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Type Business Analysis
4.1. Data Monetization Solutions for Healthcare Payers Market: Type Movement Analysis
4.2. Software
4.2.1. Software Market, 2018 - 2030 (USD Million)
4.3. Services
4.3.1. Services Market, 2018 - 2030 (USD Million)
Chapter 5. Regional Business Analysis
5.1. Data Monetization Solutions for Healthcare Payers Market Share By Region, 2022 & 2030
5.2. North America
5.2.1. SWOT Analysis
5.2.2. North America Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.2.3. U.S.
5.2.3.1. Key Country Dynamics
5.2.3.2. Regulatory Framework
5.2.3.3. U.S. Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.2.4. Canada
5.2.4.1. Key Country Dynamics
5.2.4.2. Regulatory Framework
5.2.4.3. Canada Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3. Europe
5.3.1. Europe Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.2. UK
5.3.2.1. Key Country Dynamics
5.3.2.2. Regulatory Framework
5.3.2.3. UK Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.3. Germany
5.3.3.1. Key Country Dynamics
5.3.3.2. Regulatory Framework
5.3.3.3. Germany Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.4. France
5.3.4.1. Key Country Dynamics
5.3.4.2. Regulatory Framework
5.3.4.3. France Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.5. Italy
5.3.5.1. Key Country Dynamics
5.3.5.2. Regulatory Framework
5.3.5.3. Italy Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.6. Spain
5.3.6.1. Key Country Dynamics
5.3.6.2. Regulatory Framework
5.3.6.3. Spain Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.7. Denmark
5.3.7.1. Key Country Dynamics
5.3.7.2. Regulatory Framework
5.3.7.3. Denmark Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.8. Sweden
5.3.8.1. Key Country Dynamics
5.3.8.2. Regulatory Framework
5.3.8.3. Sweden Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.3.9. Norway
5.3.9.1. Key Country Dynamics
5.3.9.2. Regulatory Framework
5.3.9.3. Norway Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4. Asia Pacific
5.4.1. Asia Pacific Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.2. Japan
5.4.2.1. Key Country Dynamics
5.4.2.2. Regulatory Framework
5.4.2.3. Japan Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.3. China
5.4.3.1. Key Country Dynamics
5.4.3.2. Regulatory Framework
5.4.3.3. China Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.4. India
5.4.4.1. Key Country Dynamics
5.4.4.2. Regulatory Framework
5.4.4.3. India Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.5. Australia
5.4.5.1. Key Country Dynamics
5.4.5.2. Regulatory Framework
5.4.5.3. Australia Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.6. Thailand
5.4.6.1. Key Country Dynamics
5.4.6.2. Regulatory Framework
5.4.6.3. Thailand Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.4.7. South Korea
5.4.7.1. Key Country Dynamics
5.4.7.2. Regulatory Framework
5.4.7.3. South Korea Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.5. Latin America
5.5.1. Latin America Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.5.2. Brazil
5.5.2.1. Key Country Dynamics
5.5.2.2. Regulatory Framework
5.5.2.3. Brazil Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.5.3. Mexico
5.5.3.1. Key Country Dynamics
5.5.3.2. Regulatory Framework
5.5.3.3. Mexico Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.5.4. Argentina
5.5.4.1. Key Country Dynamics
5.5.4.2. Regulatory Framework
5.5.4.3. Argentina Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.6. MEA
5.6.1. MEA Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.6.2. South Africa
5.6.2.1. Key Country Dynamics
5.6.2.2. Regulatory Framework
5.6.2.3. South Africa Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.6.3. Saudi Arabia
5.6.3.1. Key Country Dynamics
5.6.3.2. Regulatory Framework
5.6.3.3. Saudi Arabia Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.6.4. UAE
5.6.4.1. Key Country Dynamics
5.6.4.2. Regulatory Framework
5.6.4.3. UAE Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
5.6.5. Kuwait
5.6.5.1. Key Country Dynamics
5.6.5.2. Regulatory Framework
5.6.5.3. Kuwait Data Monetization Solutions for Healthcare Payers Market, 2018 - 2030 (USD Million)
Chapter 6. Competitive Landscape
6.1. Participant Categorization
6.1.1. Oracle
6.1.1.1. Overview
6.1.1.2. Financial Performance
6.1.1.3. Product Benchmarking
6.1.1.4. Strategic Initiatives
6.1.2. Microsoft
6.1.2.1. Overview
6.1.2.2. Financial Performance
6.1.2.3. Product Benchmarking
6.1.2.4. Strategic Initiatives
6.1.3. Google
6.1.3.1. Overview
6.1.3.2. Financial Performance
6.1.3.3. Product Benchmarking
6.1.3.4. Strategic Initiatives
6.1.4. Salesforce, Inc.
6.1.4.1. Overview
6.1.4.2. Financial Performance
6.1.4.3. Product Benchmarking
6.1.4.4. Strategic Initiatives
6.1.5. SAP
6.1.5.1. Overview
6.1.5.2. Financial Performance
6.1.5.3. Product Benchmarking
6.1.5.4. Strategic Initiatives
6.1.6. SAS Institute, Inc.
6.1.6.1. Overview
6.1.6.2. Financial Performance
6.1.6.3. Product Benchmarking
6.1.6.4. Strategic Initiatives
6.1.7. Accenture.
6.1.7.1. Overview
6.1.7.2. Financial Performance
6.1.7.3. Product Benchmarking
6.1.7.4. Strategic Initiatives
6.1.8. Infosys Limited
6.1.8.1. Overview
6.1.8.2. Financial Performance
6.1.8.3. Product Benchmarking
6.1.8.4. Strategic Initiatives
6.1.9. Cisco Systems
6.1.9.1. Overview
6.1.9.2. Financial Performance
6.1.9.3. Product Benchmarking
6.1.9.4. Strategic Initiatives
6.1.10. Siemens
6.1.10.1. Overview
6.1.10.2. Financial Performance
6.1.10.3. Product Benchmarking
6.1.10.4. Strategic Initiatives
6.1.11. Particle Health, Inc.
6.1.11.1. Overview
6.1.11.2. Financial Performance
6.1.11.3. Product Benchmarking
6.1.11.4. Strategic Initiatives
6.1.12. Snowflake Inc.
6.1.12.1. Overview
6.1.12.2. Financial Performance
6.1.12.3. Product Benchmarking
6.1.12.4. Strategic Initiatives
6.2. Strategy Mapping
6.2.1. Expansion
6.2.2. Acquisition
6.2.3. Product/Service Launch
6.2.4. Others