Big Data in Healthcare Market Growth and Restrain Factors Analysis Report

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Big Data in Healthcare Market - Components 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, clinical decision support, population health management, 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)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the most recent research by InsightAce Analytics, the global market for Big Data in Healthcare Market Size is valued at 25.23 Billion in 2022 and is predicted to reach 98.64 Billion by the year 2031 at a 16.5 % CAGR during the forecast period for 2023-2031.

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Cutting-edge technologies are essential for advancing disease treatment and enhancing medical understanding. In this landscape, big data analytics plays a transformative role in healthcare by processing extensive clinical datasets. These techniques empower healthcare providers and organizations to make more informed clinical and strategic decisions. By integrating diverse big data solutions, healthcare systems can better organize, interpret, and leverage large volumes of patient and operational data. This approach supports improved patient outcomes, optimized workflows, and more efficient resource management across the healthcare sector.

Multiple factors, such as the increasing government initiatives to develop healthcare facilities, advances in medical and digital technologies, the adoption of mobile healthcare applications, and the rising prevalence of chronic diseases, are anticipated to drive market growth over the forecast period. In addition, rising healthcare expenditures, rising adoption of cloud-based healthcare applications, and rising government funding for technological implementations in the healthcare sector are anticipated to create lucrative opportunities over the forecast period. Healthcare organizations have begun employing digital, cloud-based solutions to enhance the management, comprehension, and analysis of clinical and life science data, which is anticipated to increase the demand for big data in healthcare in the coming years. On the other hand, costly big data techniques, a lack of skilled labor, and data privacy and security concerns may hinder the market's growth in the coming years.

Regionally, North America held a substantial market share in 2021 and is anticipated to dominate the big data in healthcare market in the coming years (2022-2030) due to rising healthcare expenditures and the rapid adoption of digital technologies by healthcare companies. Due to the growing demand for medical data management tools and the increasing innovation of cloud-based, AI-based tools and platforms for healthcare data management by pharmaceutical and information technology companies, Asia-Pacific is expected to experience significant growth over the next few years.

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

Key developments in the market:
• In January 2022, PINC AI, the technology and services platform of Premier, Inc, launched INsights, an enhanced self-service healthcare solution to create customized, on-demand analytics.
• In December 2021, Oracle Corp. acquired medical-records systems provider Cerner Corp. for about $28.3 billion to add a broad customer base in the healthcare industry to bolster the software maker's cloud-computing and database businesses.
• In July 2021, Royal Philips, a global leader in health technology, collaborated with Cognizant, a world-leading professional services firm, to develop end-to-end digital health solutions. This collaboration enables healthcare organizations and life sciences companies to improve patient care and accelerate clinical trials.
• In March 2021, Health Catalyst, Inc., a provider of data and analytics technology and services to healthcare organizations, launched the new Healthcare.AI. It was created to deliver augmented intelligence (AI) products and services to the healthcare industry.
• In January 2018, Allscripts acquired Practice Fusion, a health IT vendor offering cloud-based EHR and data analytics tools for life science companies.

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Market Segments
Global Big Data in Healthcare Market Analysis, by Components 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 Predictive Analytics
o Prescriptive Analytics
Global Big Data in Healthcare Market Analysis, by Application, 2023-2031 (Value US$ Mn)
• Clinical Data Analytics
o Quality Care
o Population Health Management
o Clinical Decision Support
o Precision Medicine
o Reporting Compliance
• Financial Analytics
o Claims Processing
o Revenue Cycle Management Software
o Risk Assessment
• Operational Analytics
o Workforce Analytics
o Supply Chain Analytics
Global Big Data in Healthcare Market Analysis, by Delivery Model, 2023-2031 (Value US$ Mn)
• Cloud
• On-Demand
Global Big Data in Healthcare Market Analysis, by Healthcare Vertical, 2023-2031 (Value US$ Mn)
• Pharmaceutical
• Medical Devices
• Healthcare Services
• Other Verticals
Global Big Data in Healthcare Market Analysis, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Big Data in Healthcare Market Analysis, by Country 2023-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Big Data in Healthcare Market Analysis, 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 Analysis, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Big Data in Healthcare Market Analysis, 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 for the global big data in healthcare market
 To receive an industry key insights and future trends of the big data in healthcare market
 To analyze the big data in healthcare industry drivers and challenges
 To get information on the big data in healthcare market size (Value US$ Mn) forecast to 2031
 Significant investments, mergers & acquisitions in the big data in healthcare market industry

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