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North America Big Data Analytics in Healthcare Market is Expected to Reach $34.16 Billion by 2025: Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), IBM Corporation, Microsoft and More.

04-10-2019 04:59 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Big Data Analytics in Healthcare

Big Data Analytics in Healthcare

The North America big data analytics in healthcare market size was valued at $9.36 billion in 2017, and is projected to reach $34.16 billion by 2025, growing at a CAGR of 17.7% from 2018 to 2025.

Rise in demand for analytics solution for population health management, increase in adoption of big data in the healthcare industry, the emerging trend of eHealth, shifting preference from a pay-for-service model, which financially rewards caregivers for performing procedures, to a value-based care model, rewarding them based on the health of their patient are some of the key factors that are expected to fuel the growth of the North America big data analytics in healthcare market. However, lack of skilled & expert staff and patient data security issues are expected to hamper the growth of the market.

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North America big data analytics in healthcare market trends include adopting data warehouse optimization, customer analysis, fraud detection which is expected to create large number of opportunities during the forecast period. In addition, major players in this market are also enhancing their product portfolios by integrating machine learning (ML) and Artificial Intelligence (AI) technologies to make the analytics more advanced and effective. Further, big data and analytics is attracting support mostly in financial, retail and insurance industries, where there is an emphasis on engaging with the customer and understanding social perspectives of customers. Predictive analytics is emerging as a capability which permits organizations to make models that can predict customer behavior and other critical business information.

According to deployment mode, cloud deployment segment is anticipated to register highest growth rate during the forecast period owing to greater prospect to facilitate real business value to the organization through reduced cost and improved ability to focus on innovation and differentiation. In addition, direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this model, which in turn are anticipated to boost the North America big data analytics in the healthcare market growth. Maintaining compliance for managing patient data, lifting legacy technology, and shifting to cloud are further contributing to the growth of cloud deployment segment in North America big data analytics in healthcare market.

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The clinical application type segment dominated the North America big data analytics in healthcare market share in 2017, and is anticipated to maintain its dominance during the forecast period owing to its applications in population health management, radiology, surgery and others. However, financial analytics segment is anticipated to witness the highest growth rate during the forecast period due to the need for preventing or detection of frauds, revenue management.

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Some of the key players operating in the North America big data analytics in healthcare industry include All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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