Big Data Healthcare Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The big data healthcare market size has grown exponentially in recent years. It will grow from $23.93 billion in 2023 to $28.98 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to increased adoption of electronic health records (ehrs), rise in health data generation, demand for data-driven insights, shift towards value-based care, early adopters and success stories..
The big data healthcare market size is expected to see exponential growth in the next few years. It will grow to $61.91 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to regulatory frameworks and compliance, improved healthcare delivery and operational efficiency, global expansion and market penetration, value-based care and population health management initiatives.. Major trends in the forecast period include increasing health data volume, advancements in analytics and ai, demand for predictive and preventive healthcare, value-based care and population health management, rise of personalized medicine..
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Scope Of Big Data Healthcare Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The adoption of healthcare information systems is expected to drive the growth of the big data healthcare market. A healthcare information system refers to a system that manages healthcare data. This comprises the operational administration of a hospital or a system that supports the formulation of healthcare policy, systems that gather, store, manage, and transmit a patient’s electronic medical record (EMR). These electronic records are analyzed using big data in healthcare to save healthcare expenditures and aid in population health management. The examination of healthcare data can then enhance patient care. According to a survey by the American Hospital Association, a US-based health care industry trade group, as of 2021, 78% of office-based physicians and 96% of all non-federal acute care hospitals adopted a certified EHR. Increasing the adoption of healthcare information systems will drive the need for big data in healthcare market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The big data healthcare market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premise, Cloud
3) By Analytics Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
4) By Application: Financial Analytics, Clinical Data Analytics, Operational Analytics, Population Health Analytics
5) By End User: Hospitals And Clinics, Finance And Insurance Agents, Research Organization
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Regional Insights –
North America was the largest region in the big data healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the big data healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the big data healthcare market report are McKesson Corporation, Cognizant, Epic Systems Corporation, Cerner Corporation, Dell Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Splunk Inc., Alteryx Inc., BigPanda Inc., Health Catalyst Inc., Optum Inc., Koninklijke Philips N. V., SAS Institute Inc., Allscripts Healthcare Solutions Inc., General Electric Company, Hewlett Packard Enterprise Company LP, Microsoft Corporation, Siemens Healthineers, Teradata, Amazon Web Services Inc., Cloudera Inc., Hortonworks Inc., MapR Technologies Inc., MongoDB Inc., Palantir Technologies Inc., QlikTech International AB, Tableau Software Inc., Talend Inc., TIBCO Software Inc.
Table of Contents
1. Executive Summary
2. Big Data Healthcare Market Report Structure
3. Big Data Healthcare Market Trends And Strategies
4. Big Data Healthcare Market – Macro Economic Scenario
5. Big Data Healthcare Market Size And Growth
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27. Big Data Healthcare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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