Emerging Trends to Drive Big Data Healthcare Market Growth at 22.3% CAGR Through 2029

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Big Data Healthcare Market Size Growth Forecast: What to Expect by 2025?
The size of the big data healthcare market has seen a swift expansion in the past few years. This market is set to increase from $28.39 billion in 2024 to $34.04 billion in 2025, showcasing a compound annual growth rate (CAGR) of 19.9%. Factors fueling this growth during the historical period include the greater acceptance of electronic health records (EHRs), a surge in health-related data generation, the need for data-informed insights, a transition towards value-focused care, early adopters, and successful results.

How Will the Big Data Healthcare Market Size Evolve and Grow by 2029?
Anticipated exponential growth is projected for the big data healthcare market in the coming years, with an increase to $76.1 billion in 2029. This constitutes a compound annual growth rate (CAGR) of 22.3%. Contributing factors to this expected growth during the projected period include regulatory frameworks and compliance, enhanced healthcare delivery and operational efficiency, global expansion and market penetration, initiatives focusing on value-based care and population health management. Key trends during this period will encompass an upsurge in health data volume, innovations in analytics and AI, a growing call for predictive and preventive healthcare, population health management and value-based care, and the emergent field of personalized medicine.

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What Drivers Are Propelling the Growth of Big Data Healthcare Market Forward?
The growth of the big data healthcare market is anticipated to be bolstered by the increased adoption of healthcare information systems. These systems, which are essentially used to manage healthcare data, can range from those used in handling the operational administration of a hospital to others that play an integral part in crafting healthcare policies. They also function in collecting, storing, governing, and dispatching a patient's electronic medical record (EMR), which are analyzed with big data in healthcare for the purpose of economizing on healthcare costs and facilitating population health management. Analysis of the healthcare data can significantly amplify patient care. As an illustration, the Office of the National Coordinator for Health Information Technology, a governmental agency from the US, noted that patient portal usage experienced a significant upswing from 2020-2022, shooting up by 50%, as seen in December 2023. By 2022, more than half the individuals across the country claimed to use either an app or patient portal given by their healthcare provider or insurer for accessing their health information digitally, with 64% of patients utilizing these portals to regularly message their providers. Consequently, the big data healthcare market is projected to be propelled further by the increasing adoption of healthcare information systems.

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Which Emerging Trends Are Transforming the Big Data Healthcare Market in 2025?
The adoption of cutting-edge technology is a leading trend in the big data healthcare sector that's gaining significant traction. Many firms in big data healthcare are innovating new products and technologies to bolster their market stance. For instance, Microsoft Corporation, an American technology company, introduced Azure Health Data Services in March 2022. This service is conceptualized to unify data management in healthcare, enabling organizations to upload, preserve, administer, and scrutinize health data using open norms such as FHIR and DICOM. Azure Health Data Services caters to both transactional and analytical loads from the same data reservoir. This function enables organizations to utilize sophisticated analytics and machine learning instruments to extract insights from health data, enhancing patient results and improving operational effectiveness.

What Are the Key Segments in the Big Data Healthcare Market?
The big data healthcare market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment: On-Premise, Cloud
3) By Analytics Type: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics
4) By Application: Financial Analytics, Clinical Data Analytics, Operational Analytics, Population Health Analytics

Subsegments:
1) By Software: Data Analytics Software, Data Management Software, Visualization Tools, Electronic Health Record (EHR) Systems, Clinical Decision Support Systems (CDSS)
2) By Services: Consulting Services, Data Integration Services, Data Security Services, Managed Services, Training And Support Services

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Who Are the Key Players Shaping the Big Data Healthcare Market's Competitive Landscape?
Major companies operating in the big data healthcare market include 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.

What Geographic Markets Are Powering Growth in the Big Data Healthcare Market?
North America was the largest region in the big data healthcare market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the big data healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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