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At a compound annual growth rate (CAGR) of 19.1% between 2021 and 2030, the total value of the global market for big data analytics in healthcare is expected to soar from $16.87 billion in 2021 to $67.82 billion.
Analysing vast amounts of healthcare data is a complex undertaking that can help businesses make better clinical and business decisions by revealing things like new patterns, market trends, coordination of many departments, and consumer trends. Clinical delivery, operational excellence, and individualised care are just a few of the numerous facets that healthcare analytics covers. Big data analytics also improves population health by integrating performance modelling with economic and predictive healthcare monitoring, among other techniques, to maximise the efficiency of healthcare processes and save costs.
The huge amount of medical data generated annually in the form of electronic health record (EHR), biometric data, and sensor data, as well as the rising demand for data advanced analytics for population health management, rising expenditure by healthcare providers on technologically advanced solutions, and continuous growth all serve as drivers of the global big data analytics in healthcare market.
Due to the medical sector's heavy investment in the IT sector for platform development and data digitization for analytics, the services sector is expected to account for the lion's share of the market in 2020. Most companies also outsource their data analytics because they lack an in-house department for it. This has led to a rise in the number of data analytics companies that provide comprehensive solutions for enterprises. The expansion of data analytics companies' service offerings has contributed significantly to the development of this sector.
Most institutions have already installed software and instruments to store data on their own premises, which will lead to a high market share for this type of delivery in 2020 due to ease of access and security. Though adequate for most small organisations' needs, the current approaches to data management can become cumbersome and time-consuming when applied to more substantial datasets. Investing heavily in data storage and security may be required.
Report Coverage
Global Big Data Analytics in Healthcare research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Big Data Analytics in Healthcare report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Big Data Analytics in Healthcare competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Big Data Analytics in Healthcare market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Big Data Analytics in Healthcare market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Big Data Analytics in Healthcare market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Big Data Analytics in Healthcare market based on the below-mentioned segments:
Global Big Data Analytics in Healthcare Market, By Type
Global Big Data Analytics in Healthcare Market, By Deployment
Global Big Data Analytics in Healthcare market, By Application
Global Big Data Analytics in Healthcare market, Regional Analysis
Analysing vast amounts of healthcare data is a complex undertaking that can help businesses make better clinical and business decisions by revealing things like new patterns, market trends, coordination of many departments, and consumer trends. Clinical delivery, operational excellence, and individualised care are just a few of the numerous facets that healthcare analytics covers. Big data analytics also improves population health by integrating performance modelling with economic and predictive healthcare monitoring, among other techniques, to maximise the efficiency of healthcare processes and save costs.
The huge amount of medical data generated annually in the form of electronic health record (EHR), biometric data, and sensor data, as well as the rising demand for data advanced analytics for population health management, rising expenditure by healthcare providers on technologically advanced solutions, and continuous growth all serve as drivers of the global big data analytics in healthcare market.
Due to the medical sector's heavy investment in the IT sector for platform development and data digitization for analytics, the services sector is expected to account for the lion's share of the market in 2020. Most companies also outsource their data analytics because they lack an in-house department for it. This has led to a rise in the number of data analytics companies that provide comprehensive solutions for enterprises. The expansion of data analytics companies' service offerings has contributed significantly to the development of this sector.
Most institutions have already installed software and instruments to store data on their own premises, which will lead to a high market share for this type of delivery in 2020 due to ease of access and security. Though adequate for most small organisations' needs, the current approaches to data management can become cumbersome and time-consuming when applied to more substantial datasets. Investing heavily in data storage and security may be required.
Report Coverage
Global Big Data Analytics in Healthcare research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Big Data Analytics in Healthcare report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Big Data Analytics in Healthcare competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Big Data Analytics in Healthcare market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Allscripts Healthcare Solutions, Inc., Cerner Corporation, Elsevier, Epic System Corporation, Health Analyst, IBM Corporation, IQVIA, McKesson Corporation, Medeanalytics, Inc., SAS Institute, Inc., Tableau Software, Truven Health Analytics, Inc., Verisk Analytics, Inc., Verscend technologies, Others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Big Data Analytics in Healthcare Market from 2021 to 2030.
- Market Forecast for Big Data Analytics in Healthcare Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Big Data Analytics in Healthcare competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Big Data Analytics in Healthcare
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Big Data Analytics in Healthcare market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Big Data Analytics in Healthcare market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
- KEY INDUSTRY
- Allscripts Healthcare Solutions, Inc.
- Cerner Corporation
- Elsevier
- Epic System Corporation
- Health Analyst
- IBM Corporation
- IQVIA
- McKesson Corporation
- Medeanalytics, Inc.
- SAS Institute, Inc.
- Tableau Software
- Truven Health Analytics, Inc.
- Verisk Analytics, Inc.
- Verscend technologies
- Others
Primary Target Market
- Market Players of Big Data Analytics in Healthcare
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Big Data Analytics in Healthcare market based on the below-mentioned segments:
Global Big Data Analytics in Healthcare Market, By Type
- Software
- Services
Global Big Data Analytics in Healthcare Market, By Deployment
- Software
- Services
Global Big Data Analytics in Healthcare market, By Application
- Financial Analytics
- Clinical Data Analytics
- Operational Analytics
- Population Health Analytics
- Others
Global Big Data Analytics in Healthcare market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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