Big Data in Healthcare Market To Go Through A Profound Growth By 2026, A Conclusion By Market Leaders Hewlett-Packard Co., Teradata Corporation, Opera Solutions, Cognizant Technology Solutions, Siemens Healthcare Gmbh

Big data in healthcare market revenue is expected to grow at lucrative rate over the forecast period primarily due to increased digitalization in industrial process. Digitization is transforming industrial processes, functions, products, and services. Advent of e-commerce has resulted in a sudden spurt in data being generated by various companies. Also, with decades of research and development activities across the healthcare industry, there is a large amount of data, referred to as 'big data', piled up with host organizations. It is therefore essential to ensure optimum utilization of this data for reducing costs, providing targeted products and services, and avoiding duplication of work.

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Big data solution helps simplifying and analyze complex and diverse data, a task that cannot be achieved using conventional software and hardware. Moreover, such kind of data cannot be managed with trivial data management tools and methods. Various tools such as Pentaho, Hadoop, Cloudera, and MongoDB are available in the market for the same. These tools help in data cleaning, mining, and analyzing of big data. There are also various data visualization tools such as Tableau, Silk, and Chartio that help in presenting the data in a more convenient and readable form.

Big Data in Healthcare Market, by Analytics Type
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
by Application
Clinical Analytics
Financial Analytics

Operational and Administrative Analytics
Population Health Analytics
by Delivery Model
On-premise
On-demand
by End User
Payers
Providers
Third party care organizations

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Pharmaceutical companies, payers, and experts are using big data analytics/solutions to analyze and obtain insights about industry trends and accordingly make detailed and accurate projections about the market. Based on the insights from big data solutions, various recipients can make informed decisions to improve their products or services.

Fragmented Market

There are various small and global players offering big data software and services. The small regional players offer big data services at low costs, which creates a high entry barrier for global players looking to establish their footprint in emerging markets. The market is highly fragmented, with various players offering services differentiated in terms of pricing and inclusions. Some of the key companies in the global big data in healthcare market include Hewlett-Packard Co., Teradata Corporation, Opera Solutions, Cognizant Technology Solutions, Siemens Healthcare Gmbh, Mu Sigma, Splunk Inc., Cloudera, EMC, IBM, Calpont Corporation, and Oracle Corporation.

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