Global big data analytics in healthcare market is expected to reach $22,743.1 million by 2023.
The global big data analytics in healthcare market is also gaining interest due to the introduction of personalized healthcare systems and demand for high quality healthcare services. Through the adoption of big data, healthcare payers and providers are enhancing their capabilities by studying patient behavior towards a particular treatment and the diagnostic patterns, in order to provide them with customized and highly cost-effective services.
Geographically, North America has been the largest big data analytics in healthcare market; however, the fastest growth during the forecast period is expected from Asia-Pacific. This can be attributed to factors such as advancement in big data technologies, growing digitalization, expanding data analytics software industry, and increasing adoption of big data analytics services by healthcare providers in the region. Further, due to various initiatives undertaken by the government to integrate big data in the healthcare industry, for making more sophisticated and cheap healthcare services available to people, the market in the region is expected to grow significantly in the coming years.
Factors driving the growth of big data analytics in healthcare market include significant increase in demand for financial analytics in healthcare, surge in demand for exploring structured and unstructured data present in the healthcare industry, decreasing costs and availability of big data software and services, along with amplified adoption of new technologies for data analytics in healthcare business transformations, globally.
Market Segmentation by Component
Electronic Health Record Software
Virtual Private Network
Others (includes Data Centers Hardware and On-Premise and On-Cloud Hardware)
By Analytics Type
Data analytics providers are partnering with healthcare providers to increase their market share. The major players are also developing new solutions for healthcare data analytics.
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Some of the key players operating in the big data analytics in healthcare market are McKesson Corporation, Cognizant Technology Solutions Corporation, Epic System Corporation, Cerner Corporation, Dell Inc., GE Healthcare, Siemens AG, Koninklijke Philips N.V., and Xerox Corporation.
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