01-07-2019 06:13 PM CET - IT, New Media & Software

Big Data Analytics in Healthcare Market 2018-2023 Trends and Opportunities With Key Players - McKesson, Cognizant, Epic, Cerner Corporation, Dell, GE Healthcare, Philips and Xerox

Press release from: P&S Intelligence

Global big data analytics in healthcare market is expected to reach $22,743.1 million by 2023 and witness a CAGR of 21.8% during 2019–2023. The global big data analytics in healthcare market is also gaining interest due to the introduction of personalized healthcare systems and demand for high quality healthcare services.

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Through the adoption of big data, healthcare payers and providers are enhancing their capabilities by studying patient behavior towards a particular treatment and the diagnostic patterns, in order to provide them with customized and highly cost-effective services.

Factors driving the growth of big data analytics in healthcare market include significant increase in demand for financial analytics in healthcare, surge in demand for exploring structured and unstructured data present in the healthcare industry, decreasing costs and availability of big data software and services, along with amplified adoption of new technologies for data analytics in healthcare business transformations, globally.

Geographically, North America has been the largest big data analytics in healthcare market; however, the fastest growth during the forecast period is expected from Asia-Pacific. This can be attributed to factors such as advancement in big data technologies, growing digitalization, expanding data analytics software industry, and increasing adoption of big data analytics services by healthcare providers in the region.

Some of the key players operating in the big data analytics in healthcare market are McKesson Corporation, Cognizant Technology Solutions Corporation, Epic System Corporation, Cerner Corporation, Dell Inc., GE Healthcare, Siemens AG, Koninklijke Philips N.V. and Xerox Corporation.

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Global Big Data Analytics in Healthcare Market Segmentation -
Market Segmentation by Component
• Software
o Electronic Health Record Software
o Practice Management
o Workforce Management
• Hardware
o Data Storage
o Routers
o Firewalls
o Virtual Private Network
o E-mail Servers
o Others (includes Data Centers Hardware and On-Premise and On-Cloud Hardware)
• Services

Market Segmentation by Deployment Type
• On-Demand
• On-Premise

Market Segmentation by Analytics Type
• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics

Market Segmentation by Application
• Financial Analytics
o Claim Processing
o Revenue Cycle Management
o Risk Adjustment & Assessment
o Others (includes Payment Integrity and Fraud, Waste and Abuse
• Clinical Data Analytics
o Quality Control
o Population Health Management
o Clinical Decision Support
o Reporting and Compliance
o Precision Health
• Others (includes Operational Analytics and Population Health Analytics)

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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