Big Data in Healthcare Market Size Expected to Reach USD 78.03 Billion by 2027 | Emerging Research Study
Market Size – USD 19.93 Billion in 2019, Market Growth – CAGR of 19.6%
— Emerging Research
VANCOUER, BC, CANADA, June 22, 2022 /EINPresswire.com/ — The global Big Data in Healthcare Market is forecasted to be worth USD 78.03 Billion by 2027, according to a current analysis by Emergen Research. An increasing cost of healthcare, a rise in chronic diseases, a growing geriatric population, and a fall in reimbursement cost will propel the demand for the market. Healthcare sectors are under immense pressure to focus on investment improving resource and outcomes management. Deployment of analytical tools, artificial intelligence, and machine learning techniques on the growing amount of data to enhance revenue, reduce healthcare costs, and personalized medicine, which will propel the demand for the market.
The report is updated with the impact of the COVID-19 pandemic on the Big Data in Healthcare market. Every industry vertical across the globe has been affected by the pandemic, and the report assesses if the impact of the pandemic on the Big Data in Healthcare market has been positive or negative. It also sheds light on the effect of the financial difficulties and supply disruption caused by the pandemic in the overall growth of the market. Furthermore, the report covers a current and future impact assessment of the pandemic on the overall growth of the Big Data in Healthcare market.
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The report on the Global Big Data in Healthcare Market is an investigative study on the key features of the business landscape along with an analysis of the growth opportunities, challenges, threats, drivers and restraints, and limitations of the market. The report also offers insights into the segments, sub-segments, and regions exhibiting promising growth.
Some Key Highlights from the Report
In October 2020, Wuhan Run He De Kang (RHDK) and Bianjie partnered to implement a blockchain technology-enabled “Epidemic Early Warning System” to help fight against the Covid-19 virus. Wuhan RHDK is a healthcare-focused Big Data firm established in 2017 to focus on creating advanced medical healthcare and safety risk management system.
The software segment held the largest share due to the growing need for analysis of electronic patient data, which is increasing at a rapid pace. By leveraging the appropriate software tools, big data is propelling the movement toward value-based healthcare, which is opening the door to innovative advancements while reducing the costs.
Uptime is very crucial in the healthcare industry, and they cannot afford to have the system go down, which will propel the demand for the on-premises segment. On-premises storage does not require a wireless internet connection to collect medical data, which makes it less risky.
Predictive analytics helps in estimating the future outcome based on past patterns. This allows clinicians to stay a step ahead and make an informed choice on how to move forward. It is extremely useful in surgery, surgery, intensive care, or emergency care, where a patient’s life might depend on quick reaction time.
North America held the largest market share owing to a rise in advancement in the Internet of Things (IoT) and an increase in demand for analytical models for better service delivery and government policies. Technical advancement has made it easier to collect and analyze information, which is benefitting the healthcare industry in the region.
The report further sheds light on the competitive landscape of the Big Data in Healthcare market to offer the readers an advantage over others. The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
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The prominent players profiled in the report are:
Cerner Corporation, GE Healthcare, IBM Corporation, Allscripts, DELL EMC, Microsoft Corporation, Optum Inc., Oracle Corporation, Cognizant, and Mckesson, among others.
Furthermore, the report covers a comprehensive overview of the key regions and market segmentation into types and applications. The regional analysis of the global Big Data in Healthcare market considers key geographical regions of the world to study different aspects of the market. The market is segmented into key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Based on types, the market is segmented into Component Outlook (Revenue, USD Billion; 2017-2027)
Deployment Outlook (Revenue, USD Billion; 2017-2027)
Analytics Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals and Clinics
Finance and Insurance Agents
The report also segments the market based on end-user industries and technologies.
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The report covers the analysis of the factors anticipated to drive the Global Big Data in Healthcare Market growth over the forecast period of 2020-2027. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report considers 2019 as the base year and 2017-2018 as the historical years. It puts examines drivers and restraints of the Big Data in Healthcare market and analyzes their impact on the industry throughout the forecast period.
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