North America Big Data Analytics in Healthcare Market Size to reach $34.16 billion by 2025 | Valuates Reports

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.

Big data analytics in healthcare is an analytic solution that derives insights on patient information and improves treatment techniques by enabling evidence-based disease prevention modeling, and diagnostic analysis. The key players, such as Allscripts, IBM Corporation, Optum, Epic, Microsoft, and others, provide innovative analytical solutions such as population health management, biometric analysis, clinical decision support, revenue cycle management, risk assessment, value-based analytics, and others to healthcare end-users. In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by improving population health, integrating performance modeling with financial and predictive care monitoring, and others.

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Initiatives by government, federal policies, and programs for healthcare sector in the North American countries are expected to drive the growth of the big data analytics in healthcare market in this region. For instance, Affordable Care Act (ACA), the crucial healthcare legislation in the U.S., has authorized the Department of Health and Human Services to release data that promotes transparency in the markets for healthcare and medical insurance. The government is providing incentive payments for healthcare providers to adopt Electronic Medical Records (EMRs) and has taken required actions to release data as a part of a program to promote data release and accessibility from agencies such as Centers for Medicare and Medicaid Services, and Centers for Disease Control. Thus, government healthcare policies drive the growth of the North America big data analytics in healthcare market. Furthermore, increase in demand for data analytics solution for population health management, rise in expenditure on technologically advanced solutions by healthcare providers, and continuous growth in enormous amount of medical data generation in form of electronic health record (EHR), biometric data, sensors data fuel the growth of the North America big data analytics in healthcare market.

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Rise in demand for analytics for population health management solution, growth in healthcare expenditure, and increase in adoption of cloud analytics among several end users are some of the major factors that drive the growth of the North America big data analytics in the healthcare market. In addition, rise in government initiatives for supporting the adoption of healthcare analytics and regulatory provisions in the U.S. and Canada are expected to fuel the growth of the market. However, security concerns over patient information among end users and lack of skilled experts in healthcare analytics are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative opportunities for the growth of the North America market.

The North America big data analytics in the healthcare market is segmented into component, deployment, analytics type, application, end user, and country. In terms of component, the market is bifurcated into software and services. Based on deployment, it is fragmented into on-premise and cloud. Depending on analytics type, it is segregated into descriptive analytics, predictive analytics, prescriptive analytics, and diagnostic analytics. By application, it is classified into clinical analytics, financial analytics, and operational analytics. Further, clinical analytics is sub segmented into radiology, surgery and others. By end user segment, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations. Based on country, the big data analytics in healthcare market is analyzed across the U.S. and Canada.

The North America big data analytics in healthcare market is dominated by key players such as All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation.

By Component

Software
Services
By Deployment

o On-premise
o Cloud

By Analytics Type

o Descriptive Analytics
o Predictive Analytics
o Prescriptive Analytics
o Diagnostic Analytics

By Application

o Clinical Analytics
o Radiology
o Surgery
o Others
o Financial Analytics
o Operational Analytics

By End User

o Hospitals & Clinics
o Finance & Insurance Agencies
o Research Organizations

By Country

o U.S.
o Canada

Key Market Players

o All Scripts
o Cerner
o Dell EMC
o Epic System Corporation
o General Electric Healthcare
o Hewlett Packard Enterprise (HPE)
o International Business Machines (IBM) Corporation
o Microsoft
o Optum
o Oracle Corporation

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Healthcare Business Intelligence Market: https://reports.valuates.com/market-reports/QYRE-Othe-4V402/healthcare-business-intelligence

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