Healthcare Big Data Analytics Market Size, Share, Industry Trends 2021-2026

Press Release:

Global Healthcare Big Data Analytics Market to Reach US$ 47.7 Billion by 2024, Augmented by Increasing Investments

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global healthcare big data analytics market grew at a CAGR of around 12% during 2015-2020. 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. Looking forward, IMARC Group expects the global healthcare big data analytics market to continue its strong growth during the next five years.

Report Coverage:

Historical, Current and Future Market Trends
Market 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
Market Breakup by Analytics Type:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Cognitive Analytics
Market Breakup by Delivery Model:
- On-Premise Delivery Model
- On-Demand Delivery Model
Market Breakup by Application:
- Financial Analytics
- Clinical Analytics
- Operational Analytics
- Others
Market Breakup by End-User:
- Hospitals and Clinics
- Finance and Insurance Agencies
- Research Organizations
Market 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 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.

Key Questions Answered in This Report:

How has the global healthcare big data analytics market performed so far and how will it perform in the coming years?
What are the key regional markets in the global healthcare big data analytics industry?
What has been the impact of COVID-19 on the global healthcare big data analytics market?
What is the breakup of the market based on the component?
What is the breakup of the market based on the analytics type?
What is the breakup of the market based on the delivery model?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the global big data analytics in healthcare industry?
What are the key driving factors and challenges in the global big data analytics in healthcare industry?
What is the structure of the global big data analytics in healthcare industry and who are the key players?
What is the degree of competition in the global big data analytics in healthcare industry?