Overview and Scope
Big data healthcare refers to big data analytics solutions for the healthcare industry, which helps organizations to make informed decisions and optimize healthcare management by use of big data solutions. Big data analytics allows for examining massive datasets from thousands of patients, identifying clusters and correlations across datasets, and developing predictive models using data mining techniques. In the healthcare market, big data analytics combines research from various fields, including bioinformatics, medical imaging, sensor informatics, medical informatics, and health informatics.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The big data healthcare market report table of contents includes:
1. Executive Summary
2. Big Data Healthcare Market Characteristics
3.Big Data Healthcare Market Trends And Strategies
4. Big Data Healthcare market analysis
5. Big Data Healthcare Market Size And Growth
6. Big Data Healthcare Segmentation
7.Big Data Healthcare Regional And Country Analysis
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27. Big Data Healthcare Competitive Landscape And Company Profiles
28.Big Data Healthcare Key Mergers And Acquisitions
29.Big Data Healthcare Future Outlook and Potential Analysis
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