Big Data in Healthcare Market Overview
The report offers an analysis of various parameters of the big data in healthcare market. The market has been segmented based on analytical service types, hardware, software, and analytical service applications. It also sheds light on the market size, market share, market trends, and regional segmentation. On the flip side, security concerns, data privacy issues, and strict protocols may impede the growth of the big data healthcare market during the forecast period.
Big data, simply put, is the digitalization of the healthcare data. It is widely used in the healthcare sector to keep track of heaps of data, which is generated from various healthcare processes like medical imaging, clinical data, pharmacy, clinical decision support systems, insurance, and other types of administrative records. The Big Data in Healthcare Market size is predicted to touch USD 17,278.13 million at a 20.69% CAGR between 2015- 2022, as per Market Research Future’s new report.
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Various factors are propelling the growth of big data in healthcare market. Such factors which support the huge big data spending in the healthcare market, as per the latest report by MRFR include increasing use by pharmaceutical & biotechnological companies especially for product cross-selling, advancement in technology, need to cut down healthcare costs, augment patient outcomes and resource management, deployment of cloud, governments & healthcare agencies focusing on the implantation of big data in healthcare to reduce costs & offer cost-effective treatment, increasing use for medical procedures turning digital, financial risk management, and regulatory compliance management. Meanwhile, the growth of global big data analytics in healthcare market stems from the requirement for analysis, management, and integration of huge volumes of data.
Big Data in Healthcare Market Key Players
Cerner Corporation, Xerox, Philips, Mckesson, Cognizant, Optum, GE Healthcare, Siemens, and Dell, among others, are the notable players profiled in the big data in healthcare market.
Big Data in Healthcare Market Segmentation
The big data in healthcare market is segmented on the basis of analytical service types, hardware, software, and analytical service applications.
On the basis of hardware, the big data in healthcare market is segmented into firewalls, routers, access points, data storage, email servers, and VPNs.
On the basis of software, the big data in healthcare market is segmented into EHR, practice management, revenue cycle management, and workforce management.
On the basis of analytical service types, the market has been segmented into prescriptive, descriptive, and predictive.
On the basis of analytical service applications, the market is segmented into operational analysis, clinical analysis, and financial analysis.
Big Data in Healthcare Market Regional Analysis
Geographically, the big data in healthcare market has been segmented into Europe, North America, the Middle East & Africa, and the Asia Pacific (APAC). Among these, the Americas is likely to spearhead the market over the forecast period. The concentration of leading players, extensive usage of IT, rising use of new technologies, and rising investment on healthcare are adding to the growth of the market in the region.
In Europe, the big data in healthcare market will hold the second-largest share over the forecast period. Increased spending on healthcare is adding to the growth of the market in the region.
In the APAC region, the big data in healthcare market will grow at a fast pace over the forecast period. Increasing use of new & innovative technologies coupled with more focus on healthcare is adding to the growth of the market in the region.
In the MEA, the big data in healthcare market is likely to have notable growth over the forecast period. The market in the African region will have a small share for weak economic conditions & slow development of the healthcare industry. In the East region, the Gulf nations are adding to the growth of the market.
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