The Healthcare Big Data Analytics Market is expected to grow from USD 25.9 billion in 2020 to USD 73.87 billion by 2026 at a CAGR of 18.34% from 2020 to 2026.
Big data analytics is a form of advanced analytics which includes a set of statistical algorithms and predictive models supported by high-performance analytics systems. With the high-powered computing systems, these solutions provide various business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency and enhanced patient care. At present, several healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are highly adopting big data analytics. The surge in the demand for financial analytics in the healthcare sector is a major factor accelerating the growth of the big data analytics in healthcare market, across the world. In the healthcare sector, the demand for financial analytics is on the rise, since it offers healthcare organizations with greater visibility into various factors which propel revenues and minimize the operational cost. In addition to this, the big data analytics uses advanced software technologies, such as specialized billing process and knowledge, to keep the track of claims processed and revenue accumulated from various operations. This decreases the fraud, extra spending and helps in proper usage of resources provided by healthcare service providers. The organizations from healthcare sectors in the recent past are realizing the advantages of cloud solutions and preferring using cloud analytics tools over traditional on-premise BI (business intelligence) solutions. Improved planning, insightful decision-making and predictive analysis have become mainstream needs among business leaders, due to the increasing need for client and customer management. These factors are projected to create lucrative opportunities for the analytics providers during the healthcare big data analytics market forecast period. On contrary, the factors such as inadequate skilled & expert workforce and patient data security problems will likely to hamper market growth.
Moreover, the rising adoption of internet of things (IoT) devices in the healthcare industry is creating immense growth opportunities to the players of healthcare big data analytics market. In the sector, these devices monitor a wide spectrum of patient health parameters, from heart function to blood pressure and produce a huge volume of unorganized data. Big data analytics has the potential to analyze these data sets and help healthcare institutions provide higher-quality and more-effective care to patients.
The global Healthcare Big Data Analytics Market is segregated on the basis of Application as Clinical Analytics, Financial Analytics and Operational Analytics. Based on Component the global Healthcare Big Data Analytics Market is segmented in Software and Services. Based on Deployment the global Healthcare Big Data Analytics Market is segmented in On-Premise and Cloud. Based on End User the global Healthcare Big Data Analytics Market is segmented in Hospitals & Clinics, Finance & Insurance Agencies and Research Organizations.
The global Healthcare Big Data Analytics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Healthcare Big Data Analytics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Dell EMC, Epic System Corporation, General Electric Healthcare, Hewlett Packard Enterprise, International Business Machines Corporation and others are among the major players in the global Healthcare Big Data Analytics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Healthcare Big Data Analytics Market has been segmented as below:
Healthcare Big Data Analytics Market, By Application
Healthcare Big Data Analytics Market, By Component
Healthcare Big Data Analytics Market, By Deployment
Healthcare Big Data Analytics Market, By End User
Healthcare Big Data Analytics Market, By Region
Healthcare Big Data Analytics Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Healthcare Big Data Analytics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Healthcare Big Data Analytics Market share. Major industry players with significant revenue share include Dell EMC, Epic System Corporation, General Electric Healthcare, Hewlett Packard Enterprise, International Business Machines Corporation and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Healthcare Big Data Analytics Market, By Application
5.1. Key Points
5.2. Clinical Analytics
5.3. Financial Analytics
5.4. Operational Analytics
6. Healthcare Big Data Analytics Market, By Component
6.1. Key Points
6.2. Software
6.3. Services
7. Healthcare Big Data Analytics Market, By Deployment
7.1. Key Points
7.2. On-Premise
7.3. Cloud
8. Healthcare Big Data Analytics Market, By End User
8.1. Key Points
8.2. Hospitals & Clinics
8.3. Finance & Insurance Agencies
8.4. Research Organizations
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- Healthcare Big Data Analytics Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. Dell EMC
10.2. Epic System Corporation
10.3. General Electric Healthcare
10.4. Hewlett Packard Enterprise
10.5. International Business Machines Corporation
10.6. Microsoft
10.7. Optum
10.8. Pentaho Corporation
10.9. Splunk Inc.
10.10.SAP AG
10.11. Google Inc.
10.12. EMC Corp.
10.13. Couchbase Inc.
10.14. Cloudera, Inc
10.15. Oracle Corp.
10.16. Teradata Corp.
10.17. Amazon Web Services, Inc.
10.18. Allscripts Healthcare Solutions
10.19. Cerner
10.20. Cotiviti
10.21. Health Catalyst
10.22. Inovalon
Healthcare Big Data Analytics Market, By Application
Healthcare Big Data Analytics Market, By Component
Healthcare Big Data Analytics Market, By Deployment
Healthcare Big Data Analytics Market, By End User