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Big Data Healthcare Market 2021 At A Highest CAGR of 15.24% |Technology, Recent Trends, Future Growth Analysis Forecasts 2028| Allscripts, GE Healthcare, Oracle Corporation, IBM, Epic Systems, Cerner Corporation, and Optum Inc.
Big Data Healthcare Market
Big Data analytics in healthcare is the complex process of examining Big Data to discover information, including hidden patterns, market trends, unknown correlations, and customer preferences, helping organizations make informed clinical and business decisions. The increase in demand for Big Data solutions for population health management and the rise in the need for business intelligence to optimize health administration and strategy are expected to drive market growth. The COVID-19 pandemic is driving the critical need for cutting-edge technological tools and innovation in the areas of public health, medicine, and wellness, which is likely to drive the big data healthcare market during the pandemic.
The “Big Data Healthcare Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.
The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Big Data Healthcare market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.
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Some of the key players operating in the Big Data Healthcare market are Allscripts, GE Healthcare, Oracle Corporation, IBM, Epic Systems, Cerner Corporation, and Optum Inc.
Recent Developments
In November 2020, Change Healthcare launched an innovative national data resource solution called Social Determinants of Health (SDoH) Analytics, a resource to help health systems, insurers, and life sciences organizations explore how geodemographic factors affect patients’ outcomes.
In October 2020, GE Healthcare launched Edison Health Link, a new computing technology that provides a set of healthcare-specific services, including HIPAA compliant data aggregation, connectivity, advanced visualization, AI, and non-AI algorithm orchestration that developers can leverage to build and deploy clinical applications and workflows.
Big Data in healthcare refers to the abundant health data amassed from numerous sources, including electronic health records (EHRs), medical imaging, genomic sequencing, payor records, pharmaceutical research, wearables, and medical devices, to name a few. It is, therefore, a complex process of examining Big Data to discover information, including hidden patterns, market trends, unknown correlations, and customer preferences, which can help organizations to make informed clinical and business decisions.
This report segments the global Big Data Healthcare market on the basis of Types are:
On-premise
Cloud-based
On the basis of Application, the Global Big Data Healthcare market is segmented into:
Financial Analytics
Clinical Data Analytics
Operational Analytics
Population Health Analytics
The report is mainly segmented into several key regions, with sales, revenue, market share, and growth rate in these regions, covering:
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Key Market Trends
The Clinical Data Analytics Segment of Big Data Analytics is Expected to Register a High Growth Rate
Clinical data analytics in the healthcare sector plays a vital role in preventing, treating, and predicting diseases, thereby increasing the quality of care. Several healthcare institutes and enterprises are inclining towards the adoption of clinical analytics as a part of their operations to offer preventive care by efficiently monitoring patient data and offer distinct attention to increasing the effectiveness of their services.
Big Data healthcare also offers better insights to patients who are at high risk of illness, and thus, healthcare providers prescribe treatments and make clinical decisions with greater accuracy.
Various organizations are increasingly investing in clinical data analytics for analyzing patient data to improve patient care. For instance, in January 2020, Health Data Research UK (HDR UK) raised GBP 1 million funding to improve patient care through analyzing large-scale data as part of the Better Care Partnership across the United Kingdom.
The adoption of digital patient records is increasing, as electronic medical records help organizations offer better care and analysis of patient's various conditions.
Furthermore, in 2019, a project funded by JDRF, and led by Wayne Bequette, professor of chemical and biological engineering at Rensselaer Polytechnic Institute, aims to use AI and Big Data analytics to evaluate information from thousands of continuous glucose monitors and insulin pumps. Researchers use this information to improve algorithms that control these devices.
Clinical data analytics is a part of the response to COVID-19, as the healthcare organizations and government are using patients’ data to tackle and enable themselves in better handling of the crisis. For instance, in June 2020, the National Institutes of Health has launched a centralized national data analytics platform to gather COVID-19 patient data to fasten the treatments across the United States.
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Important Questions Answered
What is the growth potential of the Big Data Healthcare market?
Which company is currently leading the Big Data Healthcare market? Will the company continue to lead during the forecast period 2021-2028?
What are the top strategies that players are expected to adopt in the coming years?
Which regional market is anticipated to secure the highest market share?
How will the competitive landscape change in the future?
What do players need to do to adapt to future competitive changes?
What will be the total production and consumption in the Big Data Healthcare market by 2028?
Which are the key upcoming technologies? How will they impact the Big Data Healthcare market?
Which product segment is expected to show the highest CAGR?
Which application is forecast to gain the biggest market share?
The research includes historic data from 2015 to 2021 and forecasts until 2028 which makes the report's an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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Riaana Singh
(Report Consultant)
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Our research reports will give you the most realistic and incomparable experience of revolutionary market solutions. We have effectively steered business all over the world through our market research reports with our predictive nature and are exceptionally positioned to lead digital transformations. Thus, we craft greater value for clients by presenting progressive opportunities in the global futuristic market.
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