A study by Triton Market Research with the title ‘Global Big Data Analytics in Healthcare Market,’ covers the Global Analysis and Forecast for 2019-2028 by Deployment (Cloud, On-premise), by Offering (Software, Services), by End-user (Research Organizations, Finance & Research Agencies, Hospitals & Clinics), by Analytics Type (Diagnostic, Descriptive, Predictive, Prescriptive), by Application (Operational, Financial, Clinical), and by Geographical Region (Middle East and Africa, Asia-Pacific, North America, Europe, Latin America).
Big Data analytics is an advanced tool used to cumulate a very large set of data and analyzing it to identify hidden patterns and consumer behaviors. It finds its application in the healthcare sector to offers various services like monitoring the quality of the healthcare companies and aiding them in improving their efficiency.
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According to per the report, the global Big Data analytics in healthcare market is estimated to reap $148.34 billion by 2028. The industry is progressing at a CAGR of 23.35% in the estimated years 2019-2028.
With the use of real-time tracking devices, it has become very easy to collect key patient information and, consequently, the patient behaviors. The increasing adoption of smartphones with the expansion of wearable devices, for heart rate monitoring and step counting, is also serving as a major driver of the growth of the global Big Data in healthcare market. Cloud technology can facilitate healthcare institutions to easily handle large information, thus driving the growth of the global market. However, dealing with a large volume of heterogeneous unstructured data is hampering the growth of the global Big Data in healthcare market. Data collected may be in the form of narrative text, images, audio or video, which cannot be easily aggregated.
The market for Big Data analytics in healthcare is divided into five parts, deployment, offering, end-user, analytics type and application. The first segment, deployment, bifurcates into cloud and on-premise. The second segment, offering, is divided into services and software. The third segment, end-user, is segmented into research organizations, finance & research agencies and hospitals & clinics. The fourth segment, analytics type, is divided into diagnostic, descriptive, predictive and prescriptive. The last segment, application, is sub-segmented as operational, financial and clinical.
According to the geographical outlook, Europe is expected to be the fastest-growing region for Big Data analytics in healthcare market over the forecasted years. The increasing demand for customer pattern recognition in the healthcare industry is primarily driving the regional market growth. The potential benefits of Electronic Health Records (EHR) in countries like Italy and Spain is expected to favour the market growth in this region.
Some eminent firms engaged in Big Data analytics in healthcare market are SAS Institute Inc, Oracle, McKesson Corporation, Philips NV, CPSI (Computer Programs And Systems Inc), Dell Technologies Inc, General Electric Company, Epic Systems Corporation, Allscripts Healthcare LLC, Siemens Healthcare Private Limited, International Business Machines Corporation, eClinicalworks, Premier, Health Catalyst, SAP SE, Tableau Software LLC, Aetna Inc, Cognizant and Cerner Corporation.
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Question & Answer: Big Data Analytics In Healthcare market
Question 1: Which are the major drivers of the growth of the global Big Data analytics in healthcare market?
Answer: With the use of real-time tracking devices, it has become very easy to collect key patient information and, consequently, the patient behaviors. The increasing adoption of smartphones with the expansion of wearable devices, for heart rate monitoring and step counting, is also serving as a major driver of the growth of the global Big Data in healthcare market. Cloud technology can facilitate healthcare institutions to easily handle large information, thus driving the growth of the global market.
Question 2: What is hampering the growth of the global Big Data analytics in healthcare market growth?
Answer: Dealing with a large volume of heterogeneous unstructured data is hampering the growth of the global Big Data in healthcare market. Data collected may be in the form of narrative text, images, audio or video, which cannot be easily aggregated.
Question 3: How is Europe influencing Big Data analytics in healthcare market outlook?
Answer: According to the geographical outlook, Europe is expected to be the fastest-growing region for Big Data analytics in healthcare market over the forecasted years. The increasing demand for customer pattern recognition in the healthcare industry is primarily driving the regional market growth. The potential benefits of Electronic Health Records (EHR) in countries like Italy and Spain are expected to favor the market growth in this region.
Question 4: Which are some of the eminent firms engaged in Big Data analytics in healthcare market?
Answer: Some eminent firms engaged in Big Data analytics in healthcare market are SAS Institute Inc, Oracle, McKesson Corporation, Philips NV, CPSI (Computer Programs And Systems Inc), Dell Technologies Inc, General Electric Company, Epic Systems Corporation, Allscripts Healthcare LLC, Siemens Healthcare Private Limited, International Business Machines Corporation, eClinicalworks, Premier, Health Catalyst, SAP SE, Tableau Software LLC, Aetna Inc, Cognizant and Cerner Corporation.
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