Big Data a $4 Billion opportunity in the healthcare & pharmaceutical industry
Big Data originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years.
Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
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Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors.
The healthcare and pharmaceutical industry is no exception to this trend, where Big Data has found a host of applications ranging from drug discovery and precision medicine to clinical decision support and population health management.
SNS Research estimates that Big Data investments in the healthcare and pharmaceutical industry will account for nearly $4 Billion in 2017 alone. Led by a plethora of business opportunities for healthcare providers, insurers, payers, government agencies, pharmaceutical companies and other stakeholders, these investments are further expected to grow at a CAGR of more than 15% over the next three years.
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The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
The report covers the following topics:
- Big Data ecosystem
- Market drivers and barriers
- Enabling technologies, standardization and regulatory initiatives
- Big Data analytics and implementation models
- Business case, application areas and use cases in the healthcare and pharmaceutical industry
- 34 case studies of Big Data investments by healthcare providers, insurers, payers, pharmaceutical companies and other stakeholders
- Future roadmap and value chain
- Company profiles and strategies of over 240 Big Data vendors
- Strategic recommendations for Big Data vendors, and healthcare and pharmaceutical industry stakeholders
- Market analysis and forecasts from 2017 till 2030
Market forecasts are provided for each of the following submarkets and their subcategories:
Hardware, Software & Professional Services
- Professional Services
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