Big Data Analytics in Healthcare Market Fueling Up To A CAGR of 19.1% - Microsoft Corporation, Oracle Corporation, Cisco Systems Inc., SAS Institute Inc., IBM Corporation, Cognizant, Health Catalyst, Medeanalytics, Inc.

The cloud deployment is anticipated to exhibit highest CAGR from 2017-2023. Cloud analytics possesses high growth potential with pay per use costing. Moreover, big data analytics in healthcare adoption is expected to witness high growth rate, owing to primary consideration of analytical modelling to manage various clinical applications, such as patient correlation in longitudinal records, process of diagnostic cycle, and predictive modelling on patients‐ involvement with medical administration.

According to a new report by Allied Market Research, titled, Big data Analytics in Healthcare Market by Solution, Deployment, and End User : Global Opportunity Analysis and Industry Forecast, 2016-2023, the global big data analytics in healthcare market was valued at $10,725 million in 2016, and is projected to reach $36,093 million by 2023, growing at a CAGR of 19.1% from 2017 to 2023.

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The service market in solution segment, including professional and managed services, is expected to witness high demand, due to increase in need to manage data throughout the lifespan, from conception and storage to data analysis at the point of requirement. Moreover, cost savings on total cost of ownership through cloud deployment fuels the big data analytics in healthcare market growth.

The key players profiled in the report are Microsoft Corporation, Oracle Corporation, Cisco Systems Inc., SAS Institute Inc., IBM Corporation, Cognizant, Health Catalyst, Medeanalytics, Inc., McKesson Corporation, and Vizient, Inc. These players have adopted geographical expansion, mergers & acquisitions, product portfolio expansion, and collaborations as their key strategies to enhance their penetration in the big data analytics in healthcare market.

The global big data analytics in healthcare market is segmented based on solution, deployment, end user, and geography. Based on solution, it is categorized into software and service. Considering deployment, it is bifurcated into on-premise and cloud deployment. Based on end user, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Industry participants have realized the importance of strengthening the overall big data analytics in healthcare market due to rise in the demand for pattern recognition of medical procedures, diseases, and their origins. The key players aim to target end users such as health organizations, research institutes, hospitals, and others, to offer customized solutions for big data analytics in healthcare market. The LAMEA market has the least share in the global big data analytics in healthcare market. However, with the provision of the right information and communication technology (ICT) and government initiatives in healthcare analytics, LAMEA is expected to provide opportunities for market investments in future.

Key Findings of the Big Data Analytics in Healthcare Market:

• Cloud deployment is anticipated to grow at highest CAGR of 19.7% from 2017 to 2023.
• North America generated the highest revenue in 2016, valued at $6,121 million.
• Europe dominated the market, in terms of growth, during the forecast period.
• U.S. led in terms of big data analytics in healthcare market in 2016. In addition, Canada, UK, China, Japan, and the other emerging markets are estimated to provide significant opportunities for major players.

Big Data Analytics In Healthcare Market Key Segments:

By Solution

• Software
• Service

By Deployment

• On-premise
• Cloud

By End User

• Hospitals & Clinics
• Finance & Insurance Agencies
• Research Organization

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The Key Players Profiled in the Report are as follows:

• Cisco Systems Inc.
• Cognizant
• Health Catalyst
• IBM Corporation
• McKesson Corporation
• MEDEANALYTICS, Inc.
• Microsoft Corportion
• Oracle Corporation
• SAS Institute Inc.
• Vizient, Inc.

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