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, 2016-2023
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, Medeanalytics, 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.
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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.
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.
The key players that operate in the big data analytics in healthcare market include Microsoft Corporation, Oracle Corporation, Cisco Systems Inc., SAS Institute Inc., IBM Corporation, Cognizant, Health Catalyst, Medeanalytics, Inc., McKesson Corporation, and Vizient, Inc. These players have adopted strategies such as geographical expansion, mergers & acquisitions, product portfolio expansion, and collaborations to enhance their penetration in the global big data analytics in healthcare market.
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KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth market analysis of big data analytics in healthcare globally, outlining the current trends, key driving factors, and potential areas for product investments.
- Key players are analyzed with respect to their primary offerings, recent investments, and future developmental strategies.
- A holistic approach of segmentation is carried out through an in-depth market study and discussions with several industry experts globally.
- The report provides highlights of the top investment pockets, key impacting factors, and winning strategies for the global big data analytics in the healthcare market.
- Market share of the key players is derived from a thorough analysis of respective players’ segment revenues and insights from industry leaders through guided discussions.
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