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New study: Big data analytics in healthcare market forecast to 2022

The global big data analytics in healthcare market is expected to witness a high growth rate during the forecast period, owing to a rise in ICT expenditure by governments in several developed and the developing regions including North America, Europe, and Asia-Pacific. In addition, surge in digitalization of medical procedures and demand for analytic solutions to derive patient-centric insights on treatment procedures are anticipated to fuel the big data analytics in healthcare market growth.

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Big Data Analytics in Healthcare Market By Solution (Software, Service), Deployment(On-premise, Cloud) and By End User (Hospitals & Clinics, Finance & Insurance Agencies, Research Organization) - Global Opportunity Analysis and Industry Forecast, 2017-2022

Big data analytics in healthcare is an analytic solution that derives insights on patient information and improves treatment techniques by enabling evidence-based disease prevention modeling and diagnostic analysis. The key players, such as IBM Corporation, Cognizant, Health Catalyst, Mede analytics, Inc., and others, provide analytic solutions for healthcare end users through innovative analytical solutions such as finance & risk management, population health management, biometric analysis, value-based analytics, and others.

In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by improving the population health, integrating performance modeling with financial and predictive care monitoring, and others. In the recent past, big data analytics in healthcare has changed the business and operation process of end users including hospitals & clinics, insurance agencies, and research organizations by providing solutions on workforce planning, performance management, and patient cost analysis, which in turn is expected to augment big data analytics adoption in the healthcare domain.

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The global big data analytics in healthcare market is expected to witness a high growth rate during the forecast period, owing to a rise in ICT expenditure by governments in several developed and the developing regions including North America, Europe, and Asia-Pacific. In addition, surge in digitalization of medical procedures and demand for analytic solutions to derive patient-centric insights on treatment procedures are anticipated to fuel the big data analytics in healthcare market growth.

However, security concerns over patient information among end users and slow adoption of healthcare analytic solutions in the underdeveloped regions, including Latin America and Africa, obstruct the big data analytics in healthcare market growth.

The global big data analytics in healthcare market is segmented based on solution, deployment, end user, and geography. Based on solution, it is categorized into software and service.

Considering deployment, it is bifurcated into on-premise and cloud deployment. Based on end user, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations.

Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to hold a major share of the market share due to advancements in IoT and increase in the demand for analytical models on patient information for better service delivery.

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