Press release
Global Healthcare Data Monetization Market Projected to Grow at 19.6% CAGR, Reaching $2.03 Billion by 2029
Healthcare Data Monetization
What Will the Healthcare Data Monetization Industry Market Size Be by 2025?
The healthcare data monetization sector has witnessed accelerated expansion lately, projecting an increase from a valuation of $0.83 billion in 2024 to a substantially larger $0.99 billion by 2025, reflecting a robust compound annual growth rate of 19.6%; this upward momentum observed during the past period stemmed largely from heightened attention toward safeguarding data privacy and security measures, coupled with a growing utilization of external datasets.
What's the Long-Term Growth Forecast for the Healthcare Data Monetization Market Size Through 2029?
Anticipation surrounds the swift expansion of the healthcare data monetization sector, which is projected to reach a valuation of $2.03 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 19.6% throughout the projection timeframe; this upswing is fundamentally driven by the broad integration of electronic health records (EHR) systems and the tightening of regulatory mandates and established standards.
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What Are the Key Growth Drivers Fueling the Healthcare Data Monetization Market Expansion?
The increasing prevalence of electronic health records is anticipated to be the primary catalyst behind the expansion of the healthcare data monetization sector in the near future. These digital representations of patient medical histories, encompassing details on past health status, diagnoses, prescribed drugs, and administered therapies, are proving instrumental; specifically within healthcare data monetization efforts aimed at advancing medical studies, pharmaceutical innovation, and clinical testing to ultimately refine patient care and tailor treatments. Illustratively, data from a June 2023 assessment conducted by Munich Re Group, an insurer headquartered in Germany, involving 32 participating entities, revealed that in the vicinity of 90 percent of insurance providers currently utilize EHRs, marking a substantial 38 percent surge in EHR implementation since the year 2020, thereby confirming that the broad uptake of electronic health records is powering the momentum of the healthcare data monetization market.
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What Are the Key Trends Driving Healthcare Data Monetization Market Growth?
Leading entities within the healthcare data monetization sector are rolling out diverse advancements related to digital metamorphosis, particularly Software as a Service (SaaS) solutions, which empower medical establishments to furnish patients with highly tailored interactions. This SaaS delivery framework involves cloud-hosted applications accessible over the web, generally via mobile applications or standard web browsers. As an illustration, in the month of April 2023, the United States-based cloud software specialist, Salesforce, unveiled enhanced Customer 360 for Health functionalities meticulously crafted to enable healthcare organizations to offer increasingly individualized patient journeys. Such novelties strive to optimize operational workflows, curtail expenditures, and elevate the standard of patient treatment by harnessing the latest in artificial intelligence, automation, and immediate data access. These incorporated elements enable life sciences and healthcare groups to significantly upgrade the comprehensive care provision by fully utilizing Salesforce's technological suite, encompassing real-time insights from Data Cloud, the intelligence offered by Einstein AI, and workflow streamlining through Flow.
How Is the Healthcare Data Monetization Market Segmented?
The healthcare data monetizationmarket 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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Which Companies Are Leading the Charge in Healthcare Data Monetization Market Innovation?
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
Which Regions Are Leading the Global Healthcare Data Monetization Market in Revenue?
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.
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