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According to the latest report by IMARC Group, titled “Europe Healthcare Big Data Analytics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Europe healthcare big data analytics market reached a value of US$ 20.0 Billion in 2022. Healthcare big data analytics refers to the structured process of collecting and analyzing significant patient, consumer, and clinical information. It leverages various digital techniques, including correlations, hidden patterns, consumer preferences, and market trends, which supports predictive models and statistical algorithms. Deployment of healthcare big data analytics offer several benefits, such as improving patient-based services, detecting the early spread of diseases, generating new insights into disease mechanism, monitoring the quality of healthcare institutions, and providing better treatment methods.
Europe Healthcare Big Data Analytics Market Trends:
The Europe healthcare big data analytics market is majorly being driven by the increasing healthcare data volumes and the rising need to provide quality medical services. This is further supported by the increasing healthcare expenditure and the widespread adoption of electronic health record (EHR) systems to effectively allocate resources, manage extensive medical data, and maintain operational costs. Moreover, the enhanced focus of healthcare workers toward eliminating the harmful effects of adverse drug events (ADEs) is contributing to the market growth. Other than this, big data analytics is increasingly being used amidst the nation-wide coronavirus disease (COVID-19) outbreak for public health surveillance and disease tracking, which is positively influencing the market growth across the region. Looking forward, the market is expected to grow at a CAGR of 21.4% during 2023-2028.
Market Summary:
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