Press release
Healthcare Data Monetization Market Size Projected To Reach $2.04 Billion By 2034 With A Cagr Of 19.7%
Healthcare Data Monetization
What Is the Projected Growth of the Healthcare Data Monetization Market?
The dimension of the healthcare data monetization market has accelerated in growth over the past few years. Its expansion from $0.83 billion in 2024 to $0.99 billion in 2025 will occur with a compound annual growth rate (CAGR) of 19.9%. The growth during the historic period can be associated with a heightened emphasis on data privacy and security, alongside a rise in the utilization of external data sources.
The market size for healthcare data monetization is anticipated to experience a swift expansion in the upcoming years. It is projected to reach $2.04 billion by 2029, growing at a compound annual growth rate (CAGR) of 19.7%. This impressive growth over the predicted period can be credited to a more extensive adoption of electronic health records (EHR), heightened regulatory compliance, and standards. The period will also witness several significant trends including intensifying focus on data privacy and security, the emergence of data exchange platforms, widening of value-based care models, assimilation of artificial intelligence and machine learning, as well as the rise of data monetization partnerships.
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What Are the Different Healthcare Data Monetization Market Segments?
The healthcare data monetization market covered in this report is segmented -
1) By Type: Direct Data Monetization, Indirect Data Monetization
2) By Deployment: On-Premise, Cloud
3) By End User: Pharmaceutical And Biotechnology Companies, Healthcare Providers, Healthcare Payers, Medical Technology Companies
Subsegments:
1) By Direct Data Monetization: Data Licensing And Sales, Data Sharing Agreements, Subscription-Based Access To Data
2) By Indirect Data Monetization: Enhanced Patient Care Services, Improved Operational Efficiency, Targeted marketing And Advertising, Research And Development Collaborations
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What Are the Primary Drivers Shaping the Healthcare Data Monetization Market?
The healthcare data monetization market is set to experience significant growth driven by the increasing use of electronic health records. These digital records of patients' health backgrounds, diagnoses, medications, and therapies serve as a critical resource for healthcare data monetization. They find application in medical research, drug creation, and clinical tests, aiding in the enhancement of treatments and personalization of medicine. For example, a survey conducted by Munich Re Group, a Germany-based insurance enterprise, in June 2023 found that close to 90% of 32 surveyed companies are currently leveraging EHRs. The survey also revealed a 38% increase in EHR adoption since 2020. As such, the surge in the adoption of electronic health records is a key factor propelling the growth of the healthcare data monetization market.
Which Companies Are Leading in the Healthcare Data Monetization Market?
Major companies operating in the healthcare data monetization market report are Google LLC, McKesson Corporation, Microsoft Corporation, Siemens AG, accenture* PLC, Oracle Corporation, SAP SE, Salesforce Inc., GE Healthcare, Infosys Limited, Cerner Corporation, OpenText Corporation, Epic Systems Corporation, Snowflake Inc., Informatica Inc., TIBCO Software Inc., QlikTech International AB, Innovaccer Inc., Sisense Inc., H1.Co, Infor, SAS Institute Inc., Virtusa Corp., John Snow Labs Inc., HTEC Group
What Trends Are Expected to Dominate the Healthcare Data Monetization Market in the Next 5 Years?
Leading corporations within the healthcare data monetization market are bringing forth new digital transformation innovations like Software as a Service (SaaS) to better enhance patient experiences through personalization. SaaS is a software distribution model that locates applications in the cloud for user access via the internet, usually through a web browser or mobile app. To illustrate, Salesforce, an American cloud-based software firm, announced new Customer 360 for Health abilities in April 2023. These abilities were designed to enable healthcare providers to provide unparalleled patient experiences. The goal of these innovations is to make processes more efficient, lower costs, and boost patient care by utilizing real-time data, AI, and automation. These enhancements permit healthcare and life sciences organizations to elevate the quality of care using the complete strength of Salesforce technology, which includes real-time data from Data Cloud, Einstein AI, and automation with Flow.
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What Are the Top Revenue-Generating Geographies in the Healthcare Data Monetization Market?
North America was the largest region in the healthcare data monetization market in 2024. The regions covered in the healthcare data monetization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Healthcare Data Monetization Market?
2. What is the CAGR expected in the Healthcare Data Monetization Market?
3. What Are the Key Innovations Transforming the Healthcare Data Monetization Industry?
4. Which Region Is Leading the Healthcare Data Monetization Market?
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