Big Data in Healthcare Market – Promises a Striking Fortune of US$ 17,278.13 Million By 2022

Big Data in Healthcare Market

MarketResearchFuture.com adds a cooked research report on“Big Data in Healthcare Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2022” reports to its database.

The report titled “Big Data in Healthcare Market -Forecast to 2022″ is a direct appreciation by Market Research Future of the market potential of the Big Data in Healthcare Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market! The global big data in the healthcare market is expected to reach US$ 17,278.13 million by 2022, and the market is projected to grow at a CAGR of ~20.69 % during the forecast period 2015-2022.

Global Big Data in Healthcare Market – Overview:

Big data refers to the enormous amount of structured as well as unstructured data, which help organizations to improve their decision making processes. The term big data might seem to refer to huge volume of data, but that is not necessarily the case. It may also refer to the technology services (descriptive, predictive or prescriptive) any organization is utilizing to handle the data sets. Unstructured data refers to the data which does not have a standardized form. Around 80% of the data in the business organizations is unstructured and around 60% of the patient care information is in the unstructured format.

The global big data analytics market in the healthcare sector is at $8.49 billion in 2015 and is expected to grow at a CAGR 20.69 % due to several forces, for instance, government initiatives, pressure to curb healthcare costs, new technological advancement such as mHealth, Internet of Things (IOT), and wearables among others.

With the implementation of innovative technologies such as precision medicine, mHealth, and sensors in the healthcare industry, clinical analytics will play a huge role in the evolution of new forms of treatments to treat with different therapeutics and provide better population and precision health management.

Global Big Data in Healthcare Market – Key Players:

The global healthcare big data market is dominated by big players such as Dell and GE Healthcare. Competition in this market is expected to increase due to partnerships and mergers during the forecast period. High deployment cost and rapid innovations in Big Data analytics are the major barriers for new vendors in the market.

Profiled in MRFR Analysis some of the major players in Global Market of Big Data in Healthcare include Cerner Corporation (U.S.), Cognizant (U.S.), Dell (U.S..), Epic system Corporation (U.S.), GE Healthcare(U.K.), Mckesson (U.S.), and ‘Optum (U.S.).

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Global Big Data in Healthcare Market – Report Segments:

The global big data in healthcare market has been segmented on the basis of components and services. The components is segmented into hardware and software type. The hardware segment is further sub-segmented into routers firewalls, virtual private network (VPN), data storage (data centers/storage on premise, storage on cloud/storage on demand), email servers, and wireless & access points. The software type is sub-segmented into electronic health record (EHR) software, practice management software, revenue cycle management software, workforce management software, and others. The software deployment type is sub-segmented into software on premise and software on demand.

On the basis of analytic service type, the market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. On the basis of analytic service applications, the market is segmented into clinical data analytics, financial analytics, and operational analytics. The clinical data analytics is sub-segmented into quality care, population health management, clinical decision support, precision health, reporting, and compliance. The financial analytics is sub-segmented into claims processing, revenue cycle, management, and risk assessment. The operational analytics is sub-segmented into workforce analytics and supply chain analytics.

Big Data in Healthcare Market – Regional Analysis:

Globally, North America is the largest market for big data healthcare; large share of this market is attributed to availability of advanced IT infrastructure, and increasing technological developments. The North American market for big data in healthcare is expected to grow at a considerable rate of CAGR and is expected to grow to a substantial high in terms of economy by the end of the forecasted period.

Europe is the second-largest market for big data in healthcare, which is expected to grow at significant rate of CAGR.

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