Market Overview:

The global healthcare big data analytics market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028.

Big data analytics is a type of advanced analytics which consists of a set of statistical algorithms and predictive models supported by high-performance analytics systems. With high-powered computing systems, these solutions offer several business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency and improved patient care. At present, various healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are increasingly adopting big data analytics. This rise can be attributed to the multiple advantages of this service which include detecting healthcare fraud quickly and efficiently, and analyzing clinical trials and patient records.

In the coming years, the existing healthcare data volume is expected to grow significantly owing to the rapid change in healthcare reimbursement models. Owing to this, organizations in the industry are leveraging big data analytics to reduce inefficiency in clinical operations, research and development, and public healthcare. In clinical activities, these solutions help in conducting comparative effectiveness research for defining more cost-effective and clinically relevant ways for diagnosing and treating patients. Similarly, in research and development, big data analytics enables operators to create predictive models for lowering attrition and producing more targeted R&D pipeline in drugs and devices. Moreover, big data analytics helps in analyzing and tracking disease patterns, outbreaks and transmission for improving public health surveillance. Such benefits and advantages are currently driving the demand for big data analytics market in the healthcare industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare big data analytics market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component, analytics type, delivery model, application and end-user.

Breakup by Component:

• Services
• Software
  • Electronic Health Record Software
  • Practice Management
  • Workforce Management
• Hardware
  • Data Storage
  • Routers
  • Firewalls
  • Virtual Private Networks
  • E-Mail Servers
  • Others
     

Breakup by Analytics Type:

• Descriptive Analytics
• Predictive Analytics
• Prescriptive Analytics
• Cognitive Analytics
   

Breakup by Delivery Model:

• On-Premise Delivery Model
• On-Demand Delivery Model
   

Breakup by Application:

• Financial Analytics
• Clinical Analytics
• Operational Analytics
• Others
   

Breakup by End-User:

• Hospitals and Clinics
• Finance and Insurance Agencies
• Research Organizations
   

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Allscripts Healthcare, LLC, Cerner Corporation, International Business Machines Corporation (IBM), COTIVITI, INC., Oracle Corporation, Health Catalyst, Inovalon, Optum, Inc., CitiusTech Inc., McKesson Corporation, MEDEANALYTICS, INC., SAS Institute Inc., SCIO Health Analytics, Vitreoshealth, Wipro Limited, Cognizant Technology Solutions Corporation, Siemens Healthcare Private Limited, Hewlett-Packard Inc., Koninklijke Philips N.V., and GE Healthcare.

Report Coverage: