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Big Data in Healthcare Market 2023 | North America is Expected to Witness the Highest Growth across the Globe

Big Data in Healthcare Market

Big Data in Healthcare Market

Big Data in Healthcare Market Segments

Big Data in Healthcare Market Segments

Major driving factors of the market are the advancements in healthcare technologies, increasing funding to improve healthcare services, rising patient pool.

JERSEY, NJ, US, January 25, 2023 / -- According to the latest research by InsightAce Analytics, the global big data in the healthcare market is valued at US$ 22.02 billion in 2021, and it is expected to reach US$ 84.5 billion by 2030, with a CAGR of 16.20% during the forecast period of 2022-2030.

Modern technologies are necessary to find solutions for disease treatment and enhance clinical knowledge. Big data techniques for healthcare examine extensive clinical databases and help organizations make clinical and business decisions. Adopting different big data solutions can make healthcare data analysis and management faster and easier.

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Multiple factors such as the increasing government initiatives to develop healthcare facilities, advancements in medical and digital technologies, adoption of mobile healthcare applications, rising prevalence of chronic diseases are projected to propel the market growth during the estimated timeframe. Moreover, growing healthcare expenditure, increasing use of cloud-based healthcare applications, and the rising government funding for technological implementations in the healthcare sector is expected to witness lucrative opportunities during the forecast period. Healthcare organizations started implementing digital, cloud-based solutions to improve the management, understanding and analysis of clinical and life science data, likely to boost the demand for big data in healthcare market growth in the forthcoming years. On the other side, the expensive big data techniques, lack of skilled labour, and data privacy and security concerns may restrain the market development over the forecast years.

Regionally, North America held a significant market share in 2021 and is expected to lead the big data in healthcare market in the upcoming year (2022-2030), owing to the increasing healthcare expenditure and rapid adoption of digital technologies by healthcare companies. Asia-Pacific is anticipated to register considerable growth over the forecast years due to the rising demand for medical data management tools and growing innovations of cloud-based, AI-based tools and platforms for healthcare data management by the pharma and IT companies.

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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 2022-2030 (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, 2022-2030 (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

Other Related Reports Published by InsightAce Analytic:

Global Clinical Trial Imaging Services Market
Global Clinical Trials Software Market

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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Priyanka Tilekar
Insightace Analytic Pvt. Ltd.
+1 551-226-6109
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