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Global Healthcare Big Data Analytics Market to Grow at 14.1% During 2022-2027, Spurred by Increasing Volumes of Healthcare Data

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Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global healthcare big data analytics market reached a value of US$ 31.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 71.6 Billion by 2027, exhibiting at a CAGR of 14.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

 

 
 

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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, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on component, analytics type, delivery model, application, and end-user.

Breakup by Component:

 

 
 

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  • 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:

 

 
 

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  • 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 Solutions, Cerner, IBM, Cotiviti, Oracle, Health Catalyst, Inovalon, Optum, Citiustech, Mckesson, Medeanalytics, SAS Institute, SCIO Health Analytics, Vitreoshealth, Wipro, Cognizant, Siemens Healthcare, Hewlett-Packard, Koninklijke Philips, GE Healthcare, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Analytics Type, Delivery Model, Application, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Allscripts Healthcare Solutions, Cerner, IBM, Cotiviti, Oracle, Health Catalyst, Inovalon, Optum, Citiustech, Mckesson, Medeanalytics, SAS Institute, SCIO Health Analytics, Vitreoshealth, Wipro, Cognizant, Siemens Healthcare, Hewlett-Packard, Koninklijke Philips and GE Healthcare
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Healthcare Big Data Analytics Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Component
    5.5    Market Breakup by Analytics Type
    5.6    Market Breakup by Delivery Model
    5.7    Market Breakup by Application
    5.8    Market Breakup by End-User
    5.9    Market Breakup by Region 
    5.10    Market Forecast
6   Market Breakup by Component 
    6.1    Service
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Software  
        6.2.1    Market Trends 
        6.2.2    Major Types
                 6.2.2.1   Electronic Health Record Software
                 6.2.2.2   Practice Management Software
                 6.2.2.3   Workforce Management Software
        6.2.3    Market Forecast 
    6.3    Hardware 
        6.3.1    Market Trends 
        6.3.2    Major Types
                 6.3.2.1   Data Storage
                 6.3.2.2   Routers
                 6.3.2.3   Firewalls
                 6.3.2.4   Virtual Private Networks
                 6.3.2.5   E-Mail Servers
                 6.3.2.6   Others
        6.3.3    Market Forecast 
7   Market Breakup by Analytics Type 
    7.1    Descriptive Analytics 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Predictive Analytics 
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Prescriptive Analytics 
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Cognitive Analytics 
        7.4.1    Market Trends
        7.4.2    Market Forecast
8   Market Breakup by Delivery Model 
    8.1    On-Premise Delivery Model 
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    On-Demand Delivery Model 
        8.2.1    Market Trends
        8.2.2    Market Forecast
9   Market Breakup by Application 
    9.1    Financial Analytics 
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Clinical Analytics 
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Operational Analytics 
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Others 
        9.4.1    Market Trends
        9.4.2    Market Forecast
10  Market Breakup by End-User 
    10.1    Hospitals and Clinics
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Finance and Insurance Agencies
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Research Organizations
        10.3.1    Market Trends
        10.3.2    Market Forecast
11  Market Breakup by Region
    11.1    North America
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    Europe
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Asia Pacific 
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Middle East and Africa
        11.4.1    Market Trends
        11.4.2    Market Forecast
    11.5    Latin America
        11.5.1    Market Trends
        11.5.2    Market Forecast
12  SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13  Value Chain Analysis
14  Porter’s Five Forces Analysis
    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15  Price Analysis
16  Competitive Landscape
    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Allscripts Healthcare Solutions  
        16.3.2    Cerner  
        16.3.3    IBM  
        16.3.4    Cotiviti 
        16.3.5    Oracle
        16.3.6    Health Catalyst 
        16.3.7    Inovalon 
        16.3.8    Optum 
        16.3.9    Citiustech 
        16.3.10      Mckesson 
        16.3.11      Medeanalytics 
        16.3.12      SAS Institute 
        16.3.13      SCIO Health Analytics 
        16.3.14      Vitreoshealth 
        16.3.15      Wipro 
        16.3.16      Cognizant 
        16.3.17      Siemens Healthcare 
        16.3.18      Hewlett-Packard 
        16.3.19      Koninklijke Philips 
        16.3.20      GE Healthcare
 
List of Figures

Figure 1: Global: Healthcare Big Data Analytics Market: Major Drivers and Challenges
Figure 2: Global: Healthcare Big Data Analytics Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Healthcare Big Data Analytics Market: Breakup by Component (in %), 2021
Figure 4: Global: Healthcare Big Data Analytics Market: Breakup by Analytics Type (in %), 2021
Figure 5: Global: Healthcare Big Data Analytics Market: Breakup by Delivery Model (in %), 2021
Figure 6: Global: Healthcare Big Data Analytics Market: Breakup by Application (in %), 2021
Figure 7: Global: Healthcare Big Data Analytics Market: Breakup by End-User (in %), 2021
Figure 8: Global: Healthcare Big Data Analytics Market: Breakup by Region (in %), 2021
Figure 9: Global: Healthcare Big Data Analytics Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Healthcare Big Data Analytics Industry: SWOT Analysis
Figure 11: Global: Healthcare Big Data Analytics Industry: Value Chain Analysis
Figure 12: Global: Healthcare Big Data Analytics Industry: Porter’s Five Forces Analysis
Figure 13: Global: Healthcare Big Data Analytics (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Healthcare Big Data Analytics (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Healthcare Big Data Analytics (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Healthcare Big Data Analytics (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Healthcare Big Data Analytics (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Healthcare Big Data Analytics (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Healthcare Big Data Analytics (Descriptive Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Healthcare Big Data Analytics (Descriptive Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Healthcare Big Data Analytics (Predictive Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Healthcare Big Data Analytics (Predictive Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Healthcare Big Data Analytics (Prescriptive Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Healthcare Big Data Analytics (Prescriptive Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Healthcare Big Data Analytics (Cognitive Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Healthcare Big Data Analytics (Cognitive Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Healthcare Big Data Analytics (On-Premise Delivery Model) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Healthcare Big Data Analytics (On-Premise Delivery Model) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Healthcare Big Data Analytics (On-Demand Delivery Model) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Healthcare Big Data Analytics (On-Demand Delivery Model) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Healthcare Big Data Analytics (Financial Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Healthcare Big Data Analytics (Financial Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Healthcare Big Data Analytics (Clinical Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Healthcare Big Data Analytics (Clinical Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Healthcare Big Data Analytics (Operational Analytics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Healthcare Big Data Analytics (Operational Analytics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Healthcare Big Data Analytics (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Healthcare Big Data Analytics (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Healthcare Big Data Analytics (Hospitals and Clinics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Healthcare Big Data Analytics (Hospitals and Clinics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Healthcare Big Data Analytics (Finance and Insurance Agencies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Healthcare Big Data Analytics (Finance and Insurance Agencies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Global: Healthcare Big Data Analytics (Research Organizations) Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Global: Healthcare Big Data Analytics (Research Organizations) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: North America: Healthcare Big Data Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: North America: Healthcare Big Data Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Europe: Healthcare Big Data Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Europe: Healthcare Big Data Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Asia Pacific: Healthcare Big Data Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Asia Pacific: Healthcare Big Data Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Middle East and Africa: Healthcare Big Data Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Middle East and Africa: Healthcare Big Data Analytics Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Latin America: Healthcare Big Data Analytics Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Latin America: Healthcare Big Data Analytics Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

Table 1: Global: Healthcare Big Data Analytics Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Healthcare Big Data Analytics Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Healthcare Big Data Analytics Market Forecast: Breakup by Analytics Type (in Million US$), 2022-2027
Table 4: Global: Healthcare Big Data Analytics Market Forecast: Breakup by Delivery Model (in Million US$), 2022-2027
Table 5: Global: Healthcare Big Data Analytics Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Healthcare Big Data Analytics Market Forecast: Breakup by End-User (in Million US$), 2022-2027
Table 7: Global: Healthcare Big Data Analytics Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Healthcare Big Data Analytics Market Structure
Table 9: Global: Healthcare Big Data Analytics Market: Key Players


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Key Questions Answered in This Report

The global healthcare big data analytics market was valued at US$ 31.8 Billion in 2021.

We expect the global healthcare big data analytics market to exhibit a CAGR of 14.1% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic has led to the growing demand for big data analytics to assist hospital-in-charge personnel in processing sensors data to determine critical condition of the coronavirus-infected patients and immediately alert the doctors.

The increasing adoption of automated healthcare solutions for customizing treatment plans and improving overall clinical operations is primarily driving the global healthcare big data analytics market.

Based on the component, the global healthcare big data analytics market can be segmented into services, software, and hardware. Among these, services account for the majority of the global market share.

Based on the analytics type, the global healthcare big data analytics market has been divided into descriptive analytics, predictive analytics, prescriptive analytics, and cognitive analytics. Currently, descriptive analytics exhibit a clear dominance in the market.

Based on the delivery model, the global healthcare big data analytics market can be categorized into on-premise delivery model and on-demand delivery model, where on-demand delivery model holds the majority of the total market share.

Based on the application, the global healthcare big data analytics market has been segregated into financial analytics, clinical analytics, operational analytics, and others. Among these, clinical analytics currently exhibits a clear dominance in the market.

Based on the end-user, the global healthcare big data analytics market can be bifurcated into hospitals and clinics, finance and insurance agencies, and research organizations. Currently, hospitals and clinics account for the largest market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global healthcare big data analytics market include Allscripts Healthcare Solutions, Cerner, IBM, Cotiviti, Oracle, Health Catalyst, Inovalon, Optum, Citiustech, Mckesson, Medeanalytics, SAS Institute, SCIO Health Analytics, Vitreoshealth, Wipro, Cognizant, Siemens Healthcare, Hewlett-Packard, Koninklijke Philips, GE Healthcare, etc.

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