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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Healthcare Big Data Analytics Market Outlook
The global healthcare big data analytics market value was USD 99.55 billion in 2023, driven by the increasing demand for effective healthcare solutions across the globe. The market size is anticipated to grow at a CAGR of 21.7% during the forecast period of 2024-2032 to achieve a value of USD 582.99 billion by 2032.
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The market is being driven by the rapid technological advancements and the growing need tenhance productivity in the healthcare sector. The software segment, among other components, dominates the industry. By analytics-type, descriptive analytics segment leads the global industry. Currently, the on-premise delivery model is mostly preferred by organisations. Among different application sectors, big data is most commonly used for financial analytics.
Region-wise, North America dominates the global healthcare big data analytics industry, accounting for the majority of the total market share. The growth of the market in the region can be attributed tthe factors like increased acceptance of technology, availability of advanced services, and growing investment in the healthcare sector by the government and private organisations.
Market Segmentation
Big data analytics is an advanced type of analytics that consists of a range of computational algorithms and predictive models powered by high-performance analytics systems. Such technologies provide many competitive advantages in the healthcare sector with high-powered computing systems, such as efficient marketing, new sales opportunities, increased operating performance, and enhanced patient care.
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On the basis of component, the global healthcare big data analytics industry is divided into:
- Services
- Software
- Electronic Health Record
- Practice Management
- Workforce Management
- Hardware
- Data Storage
- Routers
- Firewalls
- Virtual Private Networks
- E-Mail Servers
On the basis of analytics type, the industry can be further segmented into:
- Descriptive
- Predictive
- Prescriptive
- Cognitive
- Others
Based on delivery model, the industry has been bifurcated into:
- On-Premise Delivery Model
- On-Demand Delivery Model
It finds applications in sectors such as:
- Financial
- Clinical
- Operational
- Others
On the basis of end use, the industry is divided into:
- Hospitals and Clinics
- Finance and Insurance Agencies
- Research Organisations
The report alscovers the regional markets for healthcare big data analytics like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The healthcare big data analytics industry has been witnessing a healthy growth with the rising acceptance of technology in the healthcare sector and the growing focus tenhance productivity in hospitals and clinics. The generation of a large volume of data, owing tthe growing patient pool, has resulted in the rapid digitisation of healthcare information. The compliance and regulatory requirements, coupled with the growing demand for improved patient care and record-keeping services, are further supporting the industry growth.
With the advancement in technology, the healthcare big data analytics industry has been experiencing a continuous evolution. At present, multiple healthcare companies, ranging from multi-provider groups and single-physician offices tlarge hospital networks, are rapidly embracing big data analytics tmaximise revenues, and offer personalised patient care services. The growing demand for big data analytics can be ascribed tthe many benefits offered by such services, which include quick and effective detection of healthcare fraud, and the study of clinical trials and medical records. In addition tthis, the growing number of competitors and increased investment in the industry with evolving legislative regulations is expected tfurther drive the industry growth over the forecast period.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global healthcare big data analytics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Allscripts Healthcare, LLC
- Cerner Corporation.
- Health Catalyst.
- MedeAnalytics, Inc.
- Cognizant
- SAS Institute Inc.
- WIPRO LIMITED
- TAKE SOLUTIONS LIMITED
- Exl Service Holdings, Inc.
- McKesson Corporation
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Analytics Type |
|
| Breakup by Component |
|
| Breakup by Application |
|
| Breakup by Delivery Model |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The healthcare big data Market was valued at USD 99.55 billion in 2023.
The market is expected to grow at a CAGR of 21.7% from 2024 to 2032 to reach a value of USD 582.99 billion by 2032.
The major drivers of the industry include rising disposable incomes, increasing population, rapid technological advancements, increased acceptance of technology, availability of advanced services, and the rising need tenhance productivity.
The increasing number of competitors and the rising investment in the industry with evolving legislative regulations are expected tbe the key trends guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with North America accounting for the largest market share.
The software segment is the dominant component of the product in the market.
Descriptive analytics is the leading analytics type of the product in the industry.
The on-premise delivery model accounts for the largest market share, among other delivery models in the industry.
The industry is dominated by the financial analytics segment, among other application segments.
The major end-uses in the industry include hospitals and clinics, finance and insurance agencies, and research organisations.
The leading players in the market are Allscripts Healthcare, LLC, Health Catalyst., Cerner Corporation., MedeAnalytics, Inc., and Cognizant, among others.
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