PUNE, India, June 13, 2017 /PRNewswire/ -- Market Research Future published a cooked research report on "Global Big Data in Healthcare Market" – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2021
Global Big Data in Healthcare Market - Overview:
Big data refers to the enormous amount of structured as well as unstructured data which help organizations to improve their decision-making processes. Healthcare industry is at a stage of rapid change. Advancements in genetics, biomedical, and information technology are ushering towards effective personalized treatments according to the individual characteristics of the patients. Therefore, exploiting these opportunities requires effective use of big data.
According to a recent study report published by the Market Research Future, the global market of Big Data in Healthcare is forecasted to reach at ~$35 billion by 2021, at a striking rate of CAGR; during the forecasted period (2016 – 2021).
Increasing government initiatives, pressure to curb healthcare costs, new technological advancement like mHealth, Internet of Things (IOT) and wearables are major factors driving the growth of the big data in healthcare market. Government initiatives like release of data from the agencies like FDA and CDC are helping in the research activities. These data are available publicly and helping the researchers to deeply understand the cause of the disease and other causes. Technological advancement talks about the key developments like mHealth, IOT and wearable devices. A study shows that in the US more than 60% of people want wearable devices and more than 30% people want healthcare application to self-monitor their health conditions. Going ahead pressure to curb healthcare costs are also playing very important role in the overall development of big data.
Global Big Data in Healthcare Market – Key Players
The global healthcare big data market is dominated by big players such as Dell and GE Healthcare. Competition in this market is expected to increase due to partnerships and mergers during the forecast period. High deployment cost and rapid innovations in Big Data analytics are the major barriers for new vendors in the market.
Profiled in MRFR Analysis some of the major players in Global Market of Big Data in Healthcare include Cerner Corporation (U.S.), Cognizant(U.S.), Dell (U.S.), Epic system Corporation (U.S.), GE Healthcare(U.K.), Mckesson (U.S.), and 'Optum (U.S.)'.
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Global Big Data in Healthcare Market - Report Segments
The Big Data Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Components: Comprises Hardware, Software, and Services.
Segmentation by Mode Of Deployment: Comprises On premise, web based/cloud based among others.
Segmentation by Application: Comprises Clinical data analytics, financial analytics, operational analytics, and other applications.
Global Big Data in Healthcare Market – Synopsis
Healthcare industry is at a stage of rapid change. Advancements in genetics, biomedical, and information technology are ushering towards effective personalized treatments according to the individual characteristics of the patients. Therefore, exploiting these opportunities requires effective use of big data.
The market for global big data in healthcare is expected to reach at ~$35 billion by 2021.
The network equipment segment is expected to witness a healthy growth at a sizable CAGR rate over the forecast period, owing to the reinforcement of new network infrastructures in order to offer enhanced security.
The visualization segment emerged as the fastest growing software segment over the forecast period, which is ascribed to the elevating demand for visuals to represent the analyzed data and convey exact interpretation to consumers.
The applications of big data in healthcare are clinical data analytics, financial analytics and operational analytics. Clinical data analytics comprises the quality care, clinical decision support, population health management, precision health and reporting and compliance. The financial analytics application comprises various claims processing, revenue cycle management and risk management of various divisions of healthcare industry. The last application is operational analytics which comprise the workforce analysis and supply chain analysis.
Big Data in Healthcare Market – Regional Analysis
Globally, North America is the largest market for big data healthcare; large share of this market is attributed to availability of advanced IT infrastructure, and increasing technological developments. The North American market for big data in healthcare is expected to grow at a considerable rate of CAGR and is expected to grow to a substantial high in terms of economy by the end of the forecasted period.
Europe is the second-largest market for big data in healthcare, which is expected to grow at significant rate of CAGR.
Browse Related Report
The Global Healthcare Big Data Analytics market of is expected to reach US$ 9.5 billion in 2023 from US$ 5.5 billion in 2016 with a CAGR of approximately 11.5%
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