Press release
North America Big Data Analytics in Healthcare Market Size Reach USD 34.16 Billion by 2025
Increase in the demand for analytics solutions for population health management and rise in need for business intelligence to optimize health administration and strategy are expected to drive the market growth. In addition, inclination toward cloud-based analytics solutions in the market is expected to provide North America big data analytics in healthcare market opportunity for the market expansion.
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The North America big data analytics in healthcare market size was valued at USD 9.36 billion in 2017, and is projected to reach USD 34.16 billion by 2025, growing at a CAGR of 17.7% from 2018 to 2025.
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, which can help organizations to make informed clinical and business decisions. The field of healthcare analytics is enormous, spanning multiple diverse areas, particularly clinical analytics, operational efficiency, and personalized medicine. In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by improving the population health, integrating performance modeling with financial and predictive care monitoring, and others.
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The North America big data analytics in healthcare market is segmented based on 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, it is analyzed across the U.S. and Canada.
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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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Key Findings of theBig Data Analytics in Healthcare Market:
● By component, the services segment is expected to exhibit significant growth during North America big data analytics in healthcare market forecast period.
● In 2017, the on-premise segment accounted for the highest revenue in the deployment type category.
● Based on application, the clinical analytics segment generated the highest revenue in 2017.
● Based on end user, the hospitals & clinics segment generated the highest revenue in 2017.
● Based on region, the U.S. led the North America big data analytics in healthcare market in terms of revenue in 2017.
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