Big Data in Healthcare Market
Big Data in Healthcare Market Size, Share & Trends Analysis Report, by Portal (Integrated Big data in healthcare and Standalone Big data in healthcare), Deployment Mode (Cloud-based and Web-based), End-User (Hospitals and Clinics, Pharmacies), Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Big data in healthcare market is anticipated to grow at a significant CAGR of 15.5% during the forecast period. The rise in the number of healthcare facilities adopting big data in healthcare to generate revenues has driven the global market. Moreover, the increasing demand for Electronic Health Records (EHR) and mandatory federal norms are responsible for the increased usage of big data analytics in healthcares. The increasing demands for big data solutions for managing population health and increased demand for business intelligence to optimize healthcare operations and strategy have been contributing to the market expansion.
In August 2023, A survey conducted by the Healthcare Information and Management Systems Society (HIMSS) and healthcare data analytics company Arcadia about the current state of healthcare analytics platforms demonstrates that less than 60 percent of health systems’ data is used to inform intelligent business decisions, but stakeholders underscore the importance of data access. Every facet of patient care and operational management in the healthcare industry can benefit from the use of data analytics. Its usage can offer better clinical care, enhance illness prevention, and measure the efficacy of various treatment choices.
A healthcare services and technology provider in the market for risk-adjustment services might analyze claims data and e-health records to create patient-level risk profiles and then combine SDoH and behavioral-health data to create even more comprehensive risk profiles for individual patients. In case of payment or financial integrity issues, many providers look into the claims process for payment issues. Integrating medical data analytics in healthcare to a payer's claims stream in this assessment entails translating physician advice to detect ineffective therapies or incorrect prescription doses. The high application of big data analytics at different stages of treatment and post treatment has driven its adoption across the globe. The security issues regarding private patient medical information and the high implementation and deployment costs to restrain the market growth.
Segmental Outlook
The global big data in healthcare market is segmented based on portal, deployment mode, and end-user. Based on portal, the market is segmented into standalone and integrated. Based on deployment mode, the market is segmented into clod-based and web based. Based on end-user, the market is segmented into hospitals & clinics, and pharmacies.
Cloud-based To Exhibit Significant Growth
The cloud-based is anticipated to register the fastest CAGR during the forecast period. The ease of storage, economic, and increased flexibility and efficiency of this deployment mode is a key factor driving its market growth. Cloud based storage can also be on-premises, but the issue of scalability comes into picture, even though public cloud storage solutions are a key factor for the growth of cloud-based storage solutions becoming the fastest growing segment. However, the limitations of the cloud based model including less privacy, more security concerns regarding loss of data are restraining its market growth.
Regional Outlooks
The global big data in healthcare market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America).
Global Big data in healthcare Market Growth, by Region 2023-2030
North America Held Major Share in the Global Big Data in Healthcare Market
North America held major share in the global market. The US held major share in the North American market. The regional market is driven the high adoption of big data analytics in healthcare across the region. According to HealthIT.Gov, as of 2021, nearly 4 in 5 office-based physicians (78%) and nearly all non-federal acute care hospitals (96%) adopted a certified EHR. This marks substantial 10-year progress since 2016 when 96% of hospitals and 78% of physicians had adopted an EHR. Owing to EHR adoption, the market for big data is witnessing high growth in the US.
Percentage of National Hospitals & Office-Based Physicians that Adopted EHRs
Source: HealthIT.Gov
Market Players Outlook
The major companies serving the global big data in healthcare market include Allscripts Healthcare, LLC, IBM Corp., General Electric Company (GE Healthcare), Epic Systems Corp., and Oracle (Cerner Corp.) among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
For instance, in March 2023, Fifth Third Bancorp., announced a definitive agreement to acquire Big Data Healthcare, a technology solutions provider for healthcare payments and remittance. This transaction adds national healthcare revenue cycle capabilities, addressing the complex and complicated needs of clients, while building on Fifth Third’s legacy of digital innovation and focus on the healthcare sector
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global big data in healthcare market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Allscripts Healthcare Solutions Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Epic Systems Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. GE Healthcare
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Oracle (Cerner Corp.)
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Big Data in Healthcare Market by Deployment Mode
4.1.1. On-Premises
4.1.2. Cloud-Based
4.2. Global Big Data in Healthcare Market by Component
4.2.1. Software
4.2.2. Services
4.3. Global Big Data in Healthcare Market by Application
4.3.1. Financial Analytics
4.3.2. Clinical Data Analytics
4.3.3. Operational Analytics
4.3.4. Population Health Analytics
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Apixio
6.2. Cognizant Inc.
6.3. DELL EMC
6.4. ExlService Holdings Inc.
6.5. Flatiron Health Inc.
6.6. Google Inc.
6.7. Health catalyst Inc.
6.8. Health Fidelity Inc.
6.9. Innovaccer Inc.
6.10. McKesson Corp.
6.11. Medanalytics
6.12. Merative L.P.
6.13. Microsoft Corp.
6.14. Optum Inc.
6.15. SAS INSTITUTE INC.
1. GLOBAL BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2022-2030 ($ MILLION)
2. GLOBAL ON-PREMISES BASED BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL CLOUD-BASED BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
5. GLOBAL BIG DATA IN HEALTHCARE SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL BIG DATA IN HEALTHCARE SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
8. GLOBAL BIG DATA IN HEALTHCARE FOR FINANCIAL ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL BIG DATA IN HEALTHCARE FOR CLINICAL DATA ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL BIG DATA IN HEALTHCARE FOR OPERATIONAL DATA ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL BIG DATA IN HEALTHCARE FOR POPULATION HEALTH ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. NORTH AMERICAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
14. NORTH AMERICAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2022-2030 ($ MILLION)
15. NORTH AMERICAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
16. NORTH AMERICAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
17. EUROPEAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. EUROPEAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2022-2030 ($ MILLION)
19. EUROPEAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
20. EUROPEAN BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
21. ASIA-PACIFIC BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)O
22. ASIA-PACIFIC BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2022-2030 ($ MILLION)
23. ASIA-PACIFIC BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
24. ASIA-PACIFIC BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
25. REST OF THE WORLD BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODE, 2022-2030 ($ MILLION)
26. REST OF THE WORLD BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
27. REST OF THE WORLD BIG DATA IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL BIG DATA IN HEALTHCARE MARKET SHARE BY DEPLOYMENT MODE, 2022 VS 2030 (%)
2. GLOBAL ON-PREMISES BASED BIG DATA IN HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL CLOUD-BASED BIG DATA IN HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL BIG DATA IN HEALTHCARE MARKET SHARE BY COMPONENT, 2022 VS 2030 (%)
5. GLOBAL BIG DATA IN HEALTHCARE SOFTWARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
6. GLOBAL BIG DATA IN HEALTHCARE SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL BIG DATA IN HEALTHCARE MARKET SHARE BY APPLICATION, 2022 VS 2030 (%)
8. GLOBAL BIG DATA IN HEALTHCARE FOR FINANCIAL ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL BIG DATA IN HEALTHCARE FOR CLINICAL DATA ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL BIG DATA IN HEALTHCARE FOR OPERATIONAL ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL BIG DATA IN HEALTHCARE FOR POPULATION HEALTH ANALYTICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL BIG DATA IN HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. US BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
14. CANADA BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
15. UK BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
16. FRANCE BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
17. GERMANY BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
18. ITALY BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
19. SPAIN BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
20. REST OF EUROPE BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
21. INDIA BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
22. CHINA BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
23. JAPAN BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
24. SOUTH KOREA BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
25. REST OF ASIA-PACIFIC BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF THE WORLD BIG DATA IN HEALTHCARE MARKET SIZE, 2022-2030 ($ MILLION)
