Healthcare Big Data Analytics Market Trends, Growth Prospects, Business Overview, Top Companies Analysis, Research Report 2023-2028

PRESS RELEASE

Published April 20, 2023

According to the latest report by IMARC Group, titled “Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global healthcare big data analytics industry size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028. Healthcare big data analytics involves collecting and analyzing large sets of data from various sources in the healthcare industry, such as electronic health records, medical claims data, and medical devices. Healthcare organizations can gain insights into patient care and outcomes, clinical operations, and financial performance using advanced analytics techniques. Healthcare big data analytics has the potential to revolutionize the healthcare industry by improving the quality of care, reducing costs, and increasing efficiency. For example, it can help identify patterns and trends in patient data that can inform treatment decisions, predict patient outcomes, and identify high-risk patients who may require additional care. Big data analytics help healthcare organizations identify opportunities for operational improvements, such as reducing wait times or improving resource allocation. In addition, it is widely used to improve population health management by analyzing large sets of data from multiple sources to identify risk factors and develop targeted interventions.

Healthcare Big Data Analytics Market Report 2023

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Industry Growth:

The global market is majorly driven by the growing availability of electronic health records and other digital health data. In line with this, the increasing focus on value-based care and outcomes-driven healthcare is significantly contributing to the market growth. Furthermore, the rising demand for personalized and precision medicine and expanding use of telehealth and virtual care services are positively influencing the market. Apart from this, the growing use of wearable devices and remote monitoring technology is catalyzing the market. Moreover, the escalating need for population health management, disease surveillance, and expanding focus on patient-centered care and patient engagement are bolstering the market. Besides, the increasing importance of real-time data and analytics for clinical decision-making is favoring the market. Additionally, the rising demand for data-driven quality improvement and performance management and the growing regulatory and compliance requirements for data collection and reporting boost the market. The expansion of healthcare partnerships and collaborations, requiring data sharing and analytics, is creating a positive outlook for the market. The emergence of artificial intelligence and machine learning applications in healthcare and the easy availability of cloud-based data storage and analytics platforms are offering numerous opportunities for market expansion.

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Competitive Landscape with Key Players:

Allscripts Healthcare, LLC
Cerner Corporation
International Business Machines Corporation (IBM)
COTIVITI, INC.
Oracle Corporation
Health Catalyst
Inovalon
Optum, Inc.
CitiusTech Inc.
McKesson Corporation
MEDEANALYTICS, INC.
SAS Institute Inc.
SCIO Health Analytics
Vitreoshealth
Wipro Limited
Cognizant Technology Solutions Corporation
Siemens Healthcare Private Limited
Hewlett-Packard Inc.
Koninklijke Philips N.V.
GE Healthcare.

Also Read Full Blog: Top Healthcare Big Data Analytics Companies in Worldwide

Breakup by Analytics Type :

Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Cognitive Analytics

Breakup by Component:

Service
Software
Hardware

Breakup by End-User :

Hospitals and Clinics
Finance and Insurance Agencies
Research Organizations

Breakup by Delivery Model:

On-Premise Delivery Model
On-Demand Delivery Model

Breakup by Application:

Financial Analytics
Clinical Analytics
Operational Analytics
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Key Highlights of the Report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

NOTE: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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