Big Data in Healthcare Market 2018-2026 With Strategic Trends Growth, Revenue, Demand & Future Potential Of Industry Appraised By Global Players Hewlett-Packard Co., Opera Solutions, Cognizant Technology Solutions
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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.
Big Data in Healthcare Market, by Analytics Type
Operational and Administrative Analytics
Population Health Analytics
by Delivery Model
by End User
Third party care organizations
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.
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Dearth of Skilled Manpower to Inhibit Growth of Big Data in Healthcare
Although, the market is huge in the developed nations, particularly in the U.S., dearth of trained personnel for analyzing big data is projected to limit the growth of this market in North America. Moreover, factors such as decreasing profit margins, slowdown in the global economy, and lack of skilled manpower is inhibiting growth of big data implementation in the healthcare industry. Some of the other challenges for big data in healthcare include data fragmentation, security issues, and lack of standardization. Furthermore, big data solution providers need to ensure compliance with regulations laid by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). These factors are especially prevalent in developing economies of Asia Pacific and Latin America due to lack of effective healthcare infrastructure and inadequate supportive government regulations. Increasing cost pressure and lack of trained professionals dissuades healthcare providers from implementing expensive systems supporting big data solutions. However, improvement in IT infrastructure in developing economies over the near future is expected to be a major contributor for increase in demand for big data.
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