Big Data in Healthcare Market | Size, Share and Scope Analysis to 2031

"Global Big Data in Healthcare Market- by Component and Services (Hardware (Data Servers And Storage, Servers, and Networking), Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, and Workforce Management Software), and Analytical Services (Descriptive Analytics, Prescriptive Analytics, and Predictive Analytics)) Application (Clinical Data Analytics (Quality Care, Population Health Management, Clinical Decision Support, Precision Medicine, and Reporting Compliance), Financial Analytics (Claims Processing, Revenue Cycle Management Software, and Risk Assessment), and Operational Analytics (Workforce Analytics and Supply Chain Analytics)), Delivery Model (On-Demand and Cloud), Healthcare Vertical (Pharmaceutical, Medical Devices, Healthcare Services, and Other Verticals), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

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According to the latest research by InsightAce Analytic, the global Big Data in Healthcare market is valued at US$ 22.02 Billion in 2021, and it is expected to reach US$ 84.5 Billion by 2030, with a CAGR of 16.20% during a forecast period of 2023-2031.

Big data is a sizable database that can be structured and unstructured to reveal patterns and trends for future use. Big data refers to analytical services such as prescriptive, predictive, and descriptive for assessing patient healthcare information to make healthcare organizations' business operations more profitable. It maintains the use of healthcare service providers for productivity and financial analytics.

The demand for high-quality healthcare is driving the market's expansion-the growth of unstructured and complex heterogeneous data in various formats. The market is being driven by big data analytics in the healthcare sector due to the demand for analysis and management of massive amounts of data. These data were gathered from patient biological information and electronic health records. The need for cutting-edge technologies and advancements in public health and wellness has increased due to the COVID-19 pandemic, which will drive the market for big data analytics in healthcare during the pandemic. Proteomics, epigenomics, transcriptomics, metabolomics, genomics, and pharmacogenomics advancements will all help drive market expansion. These facts help us comprehend the enormous scope of patient care. During the projection period, the market will be driven by the demand for big data analytics in developing predictive models.

North America is anticipated to be a significant contributor to big data in the Healthcare market over the forecast years. One of the first regions to embrace digitalization was North America, particularly the healthcare sector, which produces enormous amounts of unstructured raw data. The area has been utilizing the advantages of big data in healthcare while embracing AI and IoT quickly. Over time, there has been a significant increase in the demand for big data analytics for population health management, and the new eHealth trend has further strengthened the market position. In addition, the Asia Pacific Big Data in the Healthcare market is expected to grow significantly during the forecast period. Due to the growing popularity of the internet and mobile devices, big data analytics has substantially impacted the mobile healthcare business and generated sizable revenues. In addition, the region has seen a remarkable increase in the use of wearable technology and mobile health apps, increasing demand for big data in the healthcare sector.

Major market players operating in the Big Data in the Healthcare market include eClinicalWorks, DELL, GE Healthcare, Health Catalyst, Epic Systems, IBM Corporation, Siemens Healthineers, Xerox Holdings Corporation, Oracle Corporation, Allscripts Healthcare Solutions, Inc., Aetna, Inc., Cerner Corporation, Cognization Technology Solutions Corporation, Computer Programs and Systems, McKesson Corporation, MedeAnalytics, Inc., Optum, Philips Healthcare, Tableau Software, Inc., Premier, Inc., SAP ERP, SAS, and other.

Recent collaborations and agreements in the market:
• In March 2022, Thailand's government unveiled a big data platform for hospitals. Recently, the National Reform Committee on Public Health collaborated with 12 government entities to use digital technology to raise the standard of healthcare services.
• In November 2021, Nursing personnel will be able to access patient data via their mobile devices thanks to a collaboration between Nordic nursing application expert Medanets and worldwide interoperability company Enovacom. Enovacom's Patient Connect interoperability technology will automatically collect medical device data, which will then be transmitted in real-time to the hospital's electronic health record (EHR) and the Medanets mobile nursing app.

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Market Segments
Global Big Data in Healthcare Market, by Component and Services, 2023-2031 (Value US$ Mn)
• Hardware
o Data and Storage
o Servers
o Networking
• Software
o Electronic Health Records
o Practice Management Software
o Revenue Cycle Management Software
o Workforce Management Software
• Analytics Services
o Descriptive Analytics
o Prescriptive Analytics
o Predictive Analytics

Global Big Data in Healthcare Market, by Application, 2023-2031 (Value US$ Mn)
• Clinical Data Analytics
• Quality Care
• Population Health Management
• Clinical Decision Support
• Precision Medicine
• Reporting Compliance
• Financial Analytics
• Claims Processing
• Revenue Cycle Management Software
• Risk Assessment
• Operational Analytics
• Workforce Analytics
• Supply Chain Analytics

Global Big Data in Healthcare Market, by Delivery Model, 2023-2031 (Value US$ Mn)
• On-Demand
• Cloud

Global Big Data in Healthcare Market, by Healthcare Vertical, 2023-2031 (Value US$ Mn)
• Pharmaceutical
• Medical Devices
• Healthcare Services
• Other Verticals

Global Big Data in Healthcare Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Big Data in Healthcare Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Big Data in Healthcare Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Big Data in Healthcare Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Big Data in Healthcare Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Big Data in Healthcare Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for global Big Data in the Healthcare market
 To receive an industry overview and future trends of big data in the Healthcare market
 To analyze the Big Data in Healthcare market drivers and challenges
 To get information on the Big Data in Healthcare market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Big Data in the Healthcare market industry

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