The Global Big Data in Healthcare Sector by Component and Services is Expected to Grow Rapidly at a Rate of 22.07%

The Global Big Data in Healthcare Sector by component and services is expected to grow rapidly at a rate of 22.07% during the forecasted period. In the year 2014 the analytics services generated the largest revenue of $3.75 billion as to provide insights into the big data generated in the healthcare sector.

Big data mainly refers to a large set of data, both structured and unstructured, which can be effectively weighed to reveal certain trends and patterns, in order to provide some significant information. It refers to the use of analytic services (descriptive, predictive and prescriptive) to gain significant insights of the patient healthcare data in order to improve the clinical results of patients (clinical analytics); improve business revenue of the healthcare service providers and payers (financial analytics); and utilizing healthcare service providers workforce data in order to drive their productivity (operational analytics). The big data analytics in the healthcare industry is segmented on the basis of components which include: hardware and software; and services: Descriptive, Predictive and Prescriptive analytics.

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Hardware in healthcare sector refers to components which target to provide security and storage to the protected health information (PHI) of the patients through their compliance towards data protection regulations. Healthcare software helps healthcare providers in automating workflows and provides cost effective and high quality patient care. The software is broadly classified into software type and software deployment type. The analytics services analyze the present business situation and estimate the future trend. It helps them to minimize costs and improve quality of care. Also in healthcare it helps to detect diseases at earlier stages, detects healthcare frauds rapidly.

Software components are expected to grow at highest CAGR 24.27% to provide management to zettabytes of big data being generated in the healthcare sector. Whereas hardware components is expected to grow fast in Asia pacific region during the forecasted period.

The Global Big Data in Healthcare Sector market statistical report published by Market Research future contains a brief overview of component and service market. Analytics services commands the largest share and is expected to grow continuously during the forecasted period of 2013-2022. The report analyzed the Global Big Data in Healthcare Sector market by component and service and presents systematic data of market share its growth rate for 2015 along with forecast till 2022.

Key Questions Answered In This Report:

What will the market size and what will the growth rate be?

What is driving this market?

What are the key market trends?

What are the challenges to market growth?

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Market Research future through this report aims to provide understanding of the Global Big Data in Healthcare Sector market by component and service and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Global Big Data in Healthcare Sector market.

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