Global big data analytics in healthcare market was valued at $16.79 billion in 2017, and is projected to reach $67.69 billion by 2025, growing at a CAGR of 19.27% from 2018 to 2025. Big data analytics in healthcare is evolving and a promising field with respect to healthcare as it will be useful for collecting health data of particular population/particular individual and help to cure diseases, avoid epidemics, cut down overall health costs etc. Big data analytics offers various benefits such as advanced patient care, improve operational efficiency, finding a cure for diseases, increasing life expectancy of patient, help organizations to make informed clinical and business decision, develop new healthcare plans for hospitals to prevent hospitalization and so on.
These benefits are rapidly contributing in boost the growth of the global Big Data Analytics in healthcare market. The major driving factors of global Big Data Analytics in Healthcare market are surging adoption of cloud analytics and rise in need for business intelligence to optimize health administration. In addition, rise in digitalization of medical procedures, escalating demand for analytic solution and growing regulatory mandates are also some other factor which contributing in enhancement of market growth of big data analytics in healthcare. However, lack of infrastructure in semi & under developed countries and higher maintenance cost associated with this system are some factors which limiting the market growth of global Big Data Analytics in Healthcare market.
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The regional analysis of Global Big Data Analytics in Healthcare Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to well developed healthcare IT infrastructure. Europe is anticipated to follow the global Big Data Analytics in Healthcare market regional growth due to growing digitalization of medical procedure in the region. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to advancement in big data technologies and rapidly growing software data analytics industry in the region. Although, Latin America and Africa are currently witnessing sluggish growth owing to less awareness and lack of healthcare IT infrastructure.
The global big data analytics in healthcare market is segmented based on component, deployment, analytics type, application, end user, and region. In terms of component, the market is bifurcated into software and services. On the basis of deployment, it is fragmented into on-premise and cloud. Depending on analytics type, it is segregated into descriptive analytics, predictive analytics, prescriptive analytics, and diagnostic analytics. By application, it is classified into clinical analytics, financial analytics, and operational analytics. By end user segment, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations.
Market players included in this report are:
Cisco Systems Inc.
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• SAS Institute
The objective of the study is to define market size of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the region and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Hospitals & Clinics
Finance & Insurance Agencies
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Big Data Analytics in Healthcare Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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