Big Data Analytics In Healthcare is projected to be growing at a CAGR of 19.1% from 2018 to 2025.

 


Market review:

In healthcare, big data analytics is the difficult process of analyzing large amounts of data to uncover information such as hidden patterns, market trends, unknown correlations, and customer preferences that can aid businesses in making better clinical and business decisions. The discipline of healthcare analytics is vast, encompassing a wide range of topics, including clinical delivery, operational efficiency, and financial performance. Furthermore, big data analytics helps the healthcare business save money by increasing population health, combining performance modeling with financial and predictive care monitoring, and more. Increased regulatory compliance in the healthcare sector, increased demand for data analytics solutions for population health management, increased expenditure on technologically advanced solutions by healthcare providers, and continuous growth in the enormous amount of medical data generation in the form of electronic health records (EHR), biometric data, and sensor data all contribute to the global big data analytic market's growth. The global big data analytics in healthcare market size was valued at $16.87 billion in 2017 and is projected to reach $67.82 billion by 2025, growing at a CAGR of 19.1% from 2018 to 2025.

Because of improvements in IoT and increased demand for analytical models on patient data for better service delivery and government regulations, the North American region dominated the total big data analytics in the healthcare market share in 2017.

The report focuses on the growth prospects, restraints, and big data analytics in healthcare market trends. The report uses Porter's five forces analysis to examine the impact of several factors on the growth of big data analytics in the healthcare market, including supplier bargaining power, competitor competitive intensity, the threat of new entrants, threat of substitutes, and buyer bargaining power..

Segment review

Component, deployment, analytics type, application, end user, and geography are all used to segment the global big data analytics in healthcare market. The market is divided into two components: software and services. It is divided into two types of deployments: on-premise and cloud. It is divided into descriptive analytics, predictive analytics, and prescriptive analytics, depending on the type of analytics.. Clinical analytics, financial analytics, and operational analytics are the three types of analytics. Hospitals & clinics, finance & insurance agencies, and research institutions are the three end-user segments. North America, Europe, Asia-Pacific, and LAMEA are the regions studied.

All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation are among the top participants in the global big data analytics in healthcare market study.


Increase in the demand for analytics solutions for population health management

Population health management necessitates the integration of clinical and claims data on the same platform for data analysis, resulting in complete patient care with cost-effective pharmaceutical practices. The global big data analytics in the health market is expected to develop due to an increase in demand for better care management, early sickness prediction, and the healthcare market in the future. Furthermore, citizen health is a top priority for healthcare administration in the industry, which necessitates predictive population health analysis and is likely to boost the use of big data analytics during the projection period.

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