Big Data in Healthcare Market Projected to Reach CAGR of 19.6% Forecast by 2028, Trends, Future Scope and Top Key Player | By Emergen Research
The global Big Data in Healthcare Market is forecasted to be worth USD 78.03 Billion by 2027, according to a current analysis by Emergen Research. An increasing cost of healthcare, a rise in chronic diseases, a growing geriatric population, and a fall in reimbursement cost will propel the demand for the market. Healthcare sectors are under immense pressure to focus on investment improving resource and outcomes management. Deployment of analytical tools, artificial intelligence, and machine learning techniques on the growing amount of data to enhance revenue, reduce healthcare costs, and personalized medicine, which will propel the demand for the market.
A surge in the adoption of healthcare information systems promoting the usage of electronic health records (EHRs) to build a more collaborative research environment will play an important role in the growth of Big Data in the Healthcare market. Moreover, the presence of unstructured data in the healthcare industry is anticipated to drive big data in the healthcare market.
The Global big data in healthcare Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2027. The report studies the historical data of the big data in healthcare market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the big data in healthcare industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the big data in healthcare market.
The Global big data in healthcare Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
Advancement in epigenomics, genomics, proteomics, transcriptomics, pharmacogenomics, and metabolomics, coupled with the digitalization of healthcare systems globally, has led to a generation of a vast amount of medical data in different formats. The growing usage of big data analytics in healthcare provides new opportunities for providing the analytical capability for reducing waste, care, medicines, and research and development.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Some Key Highlights from the Report:
- In October 2020, Wuhan Run He De Kang (RHDK) and Bianjie partnered to implement a blockchain technology-enabled “Epidemic Early Warning System” to help fight against the Covid-19 virus. Wuhan RHDK is a healthcare-focused Big Data firm established in 2017 to focus on creating advanced medical healthcare and safety risk management system.
- The software segment held the largest share due to the growing need for analysis of electronic patient data, which is increasing at a rapid pace. By leveraging the appropriate software tools, big data is propelling the movement toward value-based healthcare, which is opening the door to innovative advancements while reducing the costs.
- Uptime is very crucial in the healthcare industry, and they cannot afford to have the system go down, which will propel the demand for the on-premises segment. On-premises storage does not require a wireless internet connection to collect medical data, which makes it less risky.
- Predictive analytics helps in estimating the future outcome based on past patterns. This allows clinicians to stay a step ahead and make an informed choice on how to move forward. It is extremely useful in surgery, surgery, intensive care, or emergency care, where a patient’s life might depend on quick reaction time.
Top competitors of the big data in healthcare Market profiled in the report include:
Cerner Corporation, GE Healthcare, IBM Corporation, Allscripts, DELL EMC, Microsoft Corporation, Optum Inc., Oracle Corporation, Cognizant, and Mckesson, among others.
Regional Analysis of the big data in healthcare Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the big data in healthcare market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the big data in healthcare business sphere.
For the purpose of this report, Emergen Research has segmented into the global Big Data in Healthcare Market on the basis of component, deployment, analytics type, application, end-user:
Component Outlook (Revenue, USD Billion; 2017-2027)
Deployment Outlook (Revenue, USD Billion; 2017-2027)
Analytics Type Outlook (Revenue, USD Billion; 2017-2027)
- Predictive Analytics
- Descriptive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
Application Outlook (Revenue, USD Billion; 2017-2027)
- Clinical Analytics
- Financial Analytics
- Operational Analytics
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals and Clinics
- Finance and Insurance Agents
- Research Organization
In conclusion, the big data in healthcare Market report is an exhaustive database that will help readers formulate lucrative strategies. The big data in healthcare Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
Key Objectives of the Report:
- Analysis and estimation of the big data in healthcare market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global big data in healthcare market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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