Big Data Healthcare Market Growth And Overview Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Big Data Healthcare Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The big data healthcare market size has grown exponentially in recent years. It will grow from $23.93 billion in 2023 to $28.98 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to increased adoption of electronic health records (ehrs), rise in health data generation, demand for data-driven insights, shift towards value-based care, early adopters and success stories..

The big data healthcare market size is expected to see exponential growth in the next few years. It will grow to $61.91 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to regulatory frameworks and compliance, improved healthcare delivery and operational efficiency, global expansion and market penetration, value-based care and population health management initiatives.. Major trends in the forecast period include increasing health data volume, advancements in analytics and ai, demand for predictive and preventive healthcare, value-based care and population health management, rise of personalized medicine..

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Market Drivers and Trends:

The adoption of healthcare information systems is expected to drive the growth of the big data healthcare market. A healthcare information system refers to a system that manages healthcare data. This comprises the operational administration of a hospital or a system that supports the formulation of healthcare policy, systems that gather, store, manage, and transmit a patient's electronic medical record (EMR). These electronic records are analyzed using big data in healthcare to save healthcare expenditures and aid in population health management. The examination of healthcare data can then enhance patient care. According to a survey by the American Hospital Association, a US-based health care industry trade group, as of 2021, 78% of office-based physicians and 96% of all non-federal acute care hospitals adopted a certified EHR. Increasing the adoption of healthcare information systems will drive the need for big data in healthcare market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

McKesson Corporation, Cognizant, Epic Systems Corporation, Cerner Corporation, Dell Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Splunk Inc., Alteryx Inc., BigPanda Inc., Health Catalyst Inc., Optum Inc., Koninklijke Philips N. V., SAS Institute Inc., Allscripts Healthcare Solutions Inc., General Electric Company, Hewlett Packard Enterprise Company LP, Microsoft Corporation, Siemens Healthineers, Teradata, Amazon Web Services Inc., Cloudera Inc., Hortonworks Inc., MapR Technologies Inc., MongoDB Inc., Palantir Technologies Inc., QlikTech International AB, Tableau Software Inc., Talend Inc., TIBCO Software Inc.

Big Data Healthcare Market 2024 Key Insights:

• The big data healthcare market size is expected to see exponential growth in the next few years. It will grow to $61.91 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%.
• Rising Adoption Of Healthcare Information Systems Drives Big Data Healthcare Market
• Technological Advancements Fuel Innovation In The Big Data Healthcare Market
• North America was the largest region in the big data healthcare market in 2023

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