Big Data in Healthcare Market Trends, Applications and Competitive Landscape By 2030
Big Data in Healthcare Market Overview
Big data in healthcare refers to the technological analytics services such as descriptive, predictive or prescriptive that are used by healthcare organizations to handle the data sets. Big data provides insights that improve learning outcomes of research by comparing different data sets and thus helps these organizations to understand pattern and make predictions. This further enables these organizations to address critical challenges, improving their decision-making processes.
Acknowledging the exponential growth, the market perceives currently Market Research Future (MRFR) in its recently published analysis asserts that the global Big Data in healthcare is forecasted to reach USD 17,278.13 MN by 2022, registering a CAGR of 18.2% % during the forecast period (2022-2030).
Further, the government initiatives such as the releases of data from the agencies like FDA and CDC are accounting for major factors driving the growth of the big data in the healthcare market, helping and expediting research activities to understand the cause of the disease and other causes deeply.
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Big Data in Healthcare Market Segmentation
MRFR has segmented the analysis into four key dynamics for the convenience of understanding;
By Component : Comprises Hardware, Software, and Services.
By Mode of Deployment : On-premise, web-based/cloud-based among others.
By Application : Clinical data analytics, financial analytics, and operational analytics, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World.
Big Data in Healthcare Market Regional Analysis
Globally, the North American region is the largest market for big data healthcare. The significant share of this market is attributed to the availability of advanced IT infrastructure and increasing technological developments. Furthermore, factors such as the high expenditure on health care widened uptake of new technologies and the presence of strong big data companies in the healthcare foster the market growth in the region.
In the year 2015, the big data in the healthcare market in North America had valued at USD 4.61 BN. The market is further expected to create a large revenue pocket in the global big data in the healthcare market.
The European region is the second-largest market for big data in healthcare, which is expected to grow at a significant rate of CAGR. Factors such as the increased research and development activities heading with government support and a well-established healthcare sector drive the market growth in the region. Also, the increasing number of healthcare infrastructures alongside the proliferation of smart connected devices are fueling the market growth in the region.
The Asia Pacific region is rapidly emerging as a promising market for big data in healthcare. China and India among other APAC countries, backed by the huge patients’ pool will lead the regional market. The big data in healthcare in this region is anticipated to grow at a CAGR of 24.75% throughout the forecast period.
Big Data in Healthcare Market Players
- Mckesson
- Cognizant
- Epic System Corporation
- Cerner Corporation
- Dell
- GE Healthcare
- Optum
- Siemens
- Philips
- Xerox
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