Press release
Big Data in the Healthcare & Pharmaceutical Industry: 2017 - 2030 - Opportunities, Challenges, Strategies & Forecasts
Big Data in the Healthcare & Pharmaceutical Market
“Big Data" originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The healthcare and pharmaceutical industry is no exception to this trend, where Big Data has found a host of applications ranging from drug discovery and precision medicine to clinical decision support and population health management.
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The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2017 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 5 application areas, 36 use cases, 6 regions and 35 countries.
Big Data investments in the healthcare and pharmaceutical industry will account for nearly $4 Billion in 2017 alone. Led by a plethora of business opportunities for healthcare providers, insurers, payers, government agencies, pharmaceutical companies and other stakeholders, these investments are further expected to grow at a CAGR of more than 15% over the next three years.
Key Questions Answered
- How big is the Big Data opportunity in the healthcare and pharmaceutical industry?
- How is the market evolving by segment and region?
- What will the market size be in 2020 and at what rate will it grow?
- What trends, challenges and barriers are influencing its growth?
- Who are the key Big Data software, hardware and services vendors and what are their strategies?
- How much are healthcare providers, insurers, payers, pharmaceutical companies and other stakeholders investing in Big Data?
- What opportunities exist for Big Data analytics in the healthcare and pharmaceutical industry?
- Which countries, application areas and use cases will see the highest percentage of Big Data investments in the healthcare and pharmaceutical industry?
Browse detail report with in-depth TOC @ https://www.marketresearchnest.com/big-data-in-the-healthcare-and-pharmaceutical-industry-2017---2030---opportunities-challenges-strategies-and-forecasts.html
Top manufacturers/players:
1010data, Absolutdata, Accenture, ACR (American College of Radiology), Actian Corporation, Adaptive Insights, Advizor Solutions, AeroSpike, Aetna, AFS Technologies, Alation, Algorithmia, Alluxio, Alphabet, Alpine Data..
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The report covers the following topics:
• - Big Data ecosystem
• - Market drivers and barriers
• - Enabling technologies, standardization and regulatory initiatives
• - Big Data analytics and implementation models
• - Business case, application areas and use cases in the healthcare and pharmaceutical industry
• - 34 case studies of Big Data investments by healthcare providers, insurers, payers, pharmaceutical companies and other stakeholders
• - Future roadmap and value chain
• - Company profiles and strategies of over 240 Big Data vendors
• - Strategic recommendations for Big Data vendors, and healthcare and pharmaceutical industry stakeholders
• - Market analysis and forecasts from 2017 till 2030
Forecast Segmentation
Market forecasts are provided for each of the following submarkets and their subcategories:
Hardware, Software and Professional Services
- Hardware
- Software
- Professional Services
Horizontal Submarkets
- Storage and Compute Infrastructure
- Networking Infrastructure
- Hadoop and Infrastructure Software
- SQL
- NoSQL
- Analytic Platforms and Applications
- Cloud Platforms
- Professional Services
Application Areas
- Pharmaceutical and Medical Products
- Core Healthcare Operations
- Healthcare Support, Awareness and Disease Prevention
- Health Insurance and Payer Services
- Marketing, Sales and Other Applications
Key Findings:
- In 2017, Big Data vendors will pocket nearly $4 Billion from hardware, software and professional services revenues in the healthcare and pharmaceutical industry. These investments are further expected to grow at a CAGR of more than 15% over the next three years, eventually accounting for over $5.8 Billion by the end of 2020.
- Through the use of Big Data technologies, hospitals and other healthcare facilities have been able to achieve cost reductions of more than 10%, improvements in outcomes by as much as 20% for certain conditions, growth in revenue by 30%, and increase in patient access to services by more than 35%.
- Big Data technologies are playing a pivotal role in accelerating the transition towards accountable and value-based care models, by enabling the continuous collection, consolidation and analysis of clinical and operational data from healthcare facilities and other available data sources.
- Addressing privacy and security concerns is necessary in order to fully leverage the benefits of Big Data in the healthcare and pharmaceutical industry. Therefore, it is essential for key stakeholders to make significant investments in data encryption and cybersecurity, in addition to adopting defensible de-identification techniques and implementing strict restrictions on data use.
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