Report Description

Global Big Data in Healthcare Market is expected to show a robust growth during the forecast period. The growth is attributed to an increase in the complexity of big data analytics management, an increase in analytics services, and the availability of low-cost big data solutions and services to end users. The fundamental driver for the expansion of the big data sector is the volume of data created across several industries as a result of changes in the business environment. Gaining knowledge from complex heterogeneous patient sources, averaging the patient records, understanding unmanaged clinical notes correctly, efficiently handling a large volume of medical imaging data, and relating with standard clinical data adds additional layers of difficulty, understanding the patient's behavioral data and personal data, social information through various sources.

Continuous technological advances in large analytics tools are necessary to deal with such massive data, creating a favorable opportunity for industry leaders to design and deliver new data analytics systems and software. Clinical data analytics is essential in the healthcare sector for treating, preventing, and forecasting disease, as well as enhancing treatment quality. Many healthcare organizations and companies are adopting clinical analytics into their operations to provide preventative treatment. This is accomplished by efficiently monitoring the patient's data and focusing on enhancing the efficacy of their services. Big data healthcare also gives greater insights into those who are at a higher risk of disease, allowing healthcare providers to prescribe medications and make more accurate clinical decisions.

Factors driving the growth of global big data in the healthcare market include the rise in demand for analytics solutions for population health management, the rise in demand for business intelligence to optimize health administration and strategy, and the surge in market preference for cloud-based analytics solutions. Other factors that contribute to the market expansion for global big data in healthcare market include an increase in healthcare spending, collaborations, and partnerships between major players to assist development, and technical developments. These advantages are expected to favor big data analytics in the healthcare business in the upcoming years.


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Growing Demand for Analytics Solutions for Population Health Management

The demand for the deployment of big data in the healthcare sector for disease trend and analysis prediction has resulted in recent years due to emergence of healthcare challenges related to the analysis of massive data amount. The market has been stabilizing in recent years as digital transformation of healthcare settings has increased, which is expected to drive market growth over the projected period.

An increase in demand for analytics solutions for population health management, an increase in the need for business intelligence to optimize health administration and strategy, are the main driving factors in the global big data in healthcare market growth. The use of big data analytics can help medical facilities in numerous ways, according to a research article published in Nature Public Health Emergency Collection Journal in January 2022, which performed a survey of 217 medical facilities in Poland. According to firsthand study, Poland's medical institutions are embracing big data, using both structured and unstructured data, and reaching for analytics in the administrative, business, and clinical domains. These developments are leading to a shift in Poland's healthcare system towards one that is data-based. In addressing social determinants of health, enhancing care management, and improving patient outcomes, data analytics is playing a major role in assisting population health management which is expected to boost the demand of big data in healthcare in the upcoming years.

Increased Use of Big Data in the Healthcare Sector

Big data analytics in healthcare refers to the intricate process of examining over large amounts of data to explore information such as hidden patterns, market trends, unknown correlations, and consumer preferences. Organizations can use this to make smart clinical and business decisions. Healthcare is a complex industry with a wide range of stakeholders, including patients, physicians, hospitals, pharmaceutical firms, and decision-makers. Strict laws and regulations also place restrictions on this industry. However, there may be a global shift away from the standard doctor-patient relationship. The healthcare system could possibly undergo a change due to health monitoring and collaboration with medical professionals to avoid diseases. By placing the patient at the center of the system is one of the most crucial components of the shift that healthcare needs to undergo. Technology is insufficient to accomplish these goals.

Companies are using big data analytics more and more frequently. However, medical enterprises are still unable to meet the demands of patients, doctors, administrators, and the creator's policy in terms of information. The use of personalized and accurate medicine based on personalized information, supplied in real time and customized to particular patients, would be made possible by the adoption of a big data strategy. Additionally, a number of market participants are investing in research and development while also launching new products and forming collaborations, all of which are driving market expansion. For instance, Healthcare Triangle Inc., a provider of managed services, data analytics platforms, and cloud transformation for the healthcare and life sciences, launched its software in Singapore in July 2022 to advance digital healthcare in the city, the state, and across the Asia Pacific region. Over the next five years, the company plans to invest USD 25 million in Singapore.

 Global big data in healthcare market is therefore expected to increase during the course of the analysis period as a result of the increasing adoption and business expansion of companies across the globe. However, security issues involving private patient medical information and expensive implementation and deployment costs are expected to hinder the global big data in healthcare market expansion.

Growing Demand for Cost-Effective Big Data Software and Services

One of the factors propelling the market for big data in healthcare is the rising demand for affordable big data software and services because digitalization is occurring more often, healthcare providers are implementing big data solutions with a focus on reducing clinical errors. The need for big data solutions in healthcare has expanded as a result of the greater affordability of high-quality big data services and software. The demand for cost-effective big data software and services has also increased due to the necessity to manage disorganized data and eliminate on-premises contact in medical hospitals, pharmacies, vaccine depots, and research facilities to avoid overcrowding in small spaces.

 

New Product Lunches:In March 2022, big data portal for healthcare facilities was launched by the Thai government. Recently, the National Reforms Committee on Public Health teamed up with 12 government organizations to enhance the standard of healthcare services through the application of digital technologIn November 2020, Change Healthcare launched an innovative national data resource solution called Social Determinants of Health (SDoH) Analytics. This resource assists life sciences organizations, health systems, and insurers to study how geo-demographic factors influence patient’s outcomes.

In October 2020, GE Healthcare launched Edison HealthLink. It is a modern computing technology that provides a set of healthcare-specific services such as advanced visualization, AI & non-AI algorithm orchestration, connectivity, and HIPAA compliant data aggregation, that developers can leverage to build and deploy clinical applications and workflows.

In June 2020, the UK government teamed up with Palantir, a US-based large information firm to explore the patient information to additionally answer the Coronavirus pandemic.

In May 2020, Blue Wellbeing Knowledge (BHI) teamed up with Datavant to empower large information and examination to further develop the medical care area.

In February 2020, Ottawa emergency clinic in Canada partnered with Israeli information examination supplier (MDClone). This partnership will democratize the information across the association and will give more visibility.

Market Segmentation

 Global big data in healthcare market is segmented by component, application, end user, competitional landscape, and regional distribution. Based on component, the global big data in healthcare market is fragmented into hardware, software, and analytics services. The hardware is further sub-segmented into data storage, servers, and networking. The software is further sub-segmented into electronic health records, practice management software, revenue cycle management software, workforce management software, and others. The analytics service is further sub-segmented into descriptive analytics, prescriptive analytics, and predictive analytics. Based on application, the global big data in healthcare market is segmented into financial analytics, clinical analytics, operational analytics, and population health analytics. Based on end user, the global big data in healthcare market is segmented into hospitals & clinics, academic & research organizations, and others.

Market Players

GE Healthcare, IBM Corporation, McKesson Corporation, MedeAnalytics, Inc., Oracle Corporation, Premier, Inc., Koninklijke Philips N.V., Siemens Healthineers, Tableau Software, Inc., Optum Inc., Cerner Corporation, Hewlett-Packard Co., KT Corporation, Cognizant Technology Solutions, SAP SE are among the major market players operating in the Global Big Data in Healthcare Market.

Attribute

Details

Base Year

2022

Historical Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         By Component

·         By Application

·         By End User

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa

Country scope

United States, Canada, Mexico, France, United Kingdom, Italy, Germany, Spain, China, India, Japan, Australia, South Korea, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Kuwait, Turkey, Egypt

Key companies profiled

GE Healthcare, IBM Corporation, McKesson Corporation, MedeAnalytics, Inc., Oracle Corporation, Premier, Inc., Koninklijke Philips N.V., Siemens Healthineers, Tableau Software, Inc., Optum Inc., Cerner Corporation, Hewlett-Packard Co., KT Corporation, Cognizant Technology Solutions, SAP SE

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, global big data in healthcare market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Big Data in Healthcare Market, By Component:
    • Hardware
      • Data Storage
      • Servers
      • Networking
    • Software
      • Electronic Health Records
      • Practice Management Software
      • Revenue Cycle Management Software
      • Workforce Management Software
      • Others
    • Analytics Service
      • Descriptive Analytics
      • Prescriptive Analytics
      • Predictive Analytics
  • Big Data in Healthcare Market, By Application:
    • Financial Analytics
    • Clinical Analytics
    • Operational Analytics
    • Population Health Analytics
  • Big Data in Healthcare Market, By End User:
    • Hospitals & Clinics
    • Academic & Research Organizations
    • Others
  • Big Data in Healthcare Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • United Kingdom
      • Italy
      • Germany
      • Spain
    • Asia-Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Kuwait
      • Turkey
      • Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Big Data in Healthcare market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Big Data in Healthcare market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Big Data in Healthcare Market Outlook

4.1.  Market Size & Forecast

4.1.1.    By Value

4.2.  Market Share & Forecast

4.2.1.    By Component (Hardware, Software, Analytics Services)

4.2.1.1.        By Hardware (Data Storage, Servers, Networking)

4.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

4.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

4.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

4.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

4.2.4.    By Region

4.2.5.    By Company (2022)

4.3.  Market Map

4.3.1.    By Component

4.3.2.    By Application

4.3.3.    By End User

4.3.4.    By Region

5.    North America Big Data in Healthcare Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Component (Hardware, Software, Analytics Services)

5.2.1.1.        By Hardware (Data Storage, Servers, Networking)

5.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

5.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

5.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

5.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

5.2.4.    By Country

5.3.  North America: Country Analysis

5.3.1.    United States Big Data in Healthcare Market Outlook

5.3.1.1.        Market Size & Forecast

5.3.1.1.1.           By Value

5.3.1.2.        Market Share & Forecast

5.3.1.2.1.           By Component

5.3.1.2.2.           By Application

5.3.1.2.3.           By End User

5.3.2.    Canada Big Data in Healthcare Market Outlook

5.3.2.1.        Market Size & Forecast

5.3.2.1.1.           By Value

5.3.2.2.        Market Share & Forecast

5.3.2.2.1.           By Component

5.3.2.2.2.           By Application

5.3.2.2.3.           By End User

5.3.3.    Mexico Big Data in Healthcare Market Outlook

5.3.3.1.        Market Size & Forecast

5.3.3.1.1.           By Value

5.3.3.2.        Market Share & Forecast

5.3.3.2.1.           By Component

5.3.3.2.2.           By Application

5.3.3.2.3.           By End User

6.    Europe Big Data in Healthcare Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Component (Hardware, Software, Analytics Services)

6.2.1.1.        By Hardware (Data Storage, Servers, Networking)

6.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

6.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

6.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

6.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

6.2.4.    By Country

6.3.  Europe: Country Analysis

6.3.1.    France Big Data in Healthcare Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Component

6.3.1.2.2.           By Application

6.3.1.2.3.           By End User

6.3.2.    United Kingdom Big Data in Healthcare Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Component

6.3.2.2.2.           By Application

6.3.2.2.3.           By End User

6.3.3.    Italy Big Data in Healthcare Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Component

6.3.3.2.2.           By Application

6.3.3.2.3.           By End User

6.3.4.    Germany Big Data in Healthcare Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Component

6.3.4.2.2.           By Application

6.3.4.2.3.           By End User

6.3.5.    Spain Big Data in Healthcare Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Component

6.3.5.2.2.           By Application

6.3.5.2.3.           By End User

7.    Asia-Pacific Big Data in Healthcare Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Component (Hardware, Software, Analytics Services)

7.2.1.1.        By Hardware (Data Storage, Servers, Networking)

7.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

7.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

7.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

7.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

7.2.4.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Big Data in Healthcare Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Component

7.3.1.2.2.           By Application

7.3.1.2.3.           By End User

7.3.2.    India Big Data in Healthcare Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Component

7.3.2.2.2.           By Application

7.3.2.2.3.           By End User

7.3.3.    Japan Big Data in Healthcare Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Component

7.3.3.2.2.           By Application

7.3.3.2.3.           By End User

7.3.4.    Australia Big Data in Healthcare Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Component

7.3.4.2.2.           By Application

7.3.4.2.3.           By End User

7.3.5.    South Korea Big Data in Healthcare Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Component

7.3.5.2.2.           By Application

7.3.5.2.3.           By End User

8.    South America Big Data in Healthcare Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Component (Hardware, Software, Analytics Services)

8.2.1.1.        By Hardware (Data Storage, Servers, Networking)

8.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

8.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

8.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

8.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

8.2.4.    By Country

8.3.  South America: Country Analysis

8.3.1.    Brazil Big Data in Healthcare Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Component

8.3.1.2.2.           By Application

8.3.1.2.3.           By End User

8.3.2.    Argentina Big Data in Healthcare Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Component

8.3.2.2.2.           By Application

8.3.2.2.3.           By End User

8.3.3.    Colombia Big Data in Healthcare Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Component

8.3.3.2.2.           By Application

8.3.3.2.3.           By End User

9.    Middle East and Africa Big Data in Healthcare Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Component (Hardware, Software, Analytics Services)

9.2.1.1.        By Hardware (Data Storage, Servers, Networking)

9.2.1.2.        By Software (Electronic Health Records, Practice Management Software, Revenue Cycle Management Software, Workforce Management Software, Others)

9.2.1.3.        By Analytics Service (Descriptive Analytics, Prescriptive Analytics, Predictive Analytics)

9.2.2.    By Application (Financial Analytics, Clinical Analytics, Operational Analytics, Population Health Analytics)

9.2.3.    By End User (Hospitals & Clinics, Academic & Research Organizations, Others)

9.2.4.    By Country

9.3.  MEA: Country Analysis

9.3.1.    South Africa Big Data in Healthcare Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Component

9.3.1.2.2.           By Application

9.3.1.2.3.           By End User

9.3.2.    Saudi Arabia Big Data in Healthcare Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Component

9.3.2.2.2.           By Application

9.3.2.2.3.           By End User

9.3.3.    UAE Big Data in Healthcare Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Component

9.3.3.2.2.           By Application

9.3.3.2.3.           By End User

9.3.4.    Kuwait Big Data in Healthcare Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Component

9.3.4.2.2.           By Application

9.3.4.2.3.           By End User

9.3.5.    Turkey Big Data in Healthcare Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.           By Value

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.           By Component

9.3.5.2.2.           By Application

9.3.5.2.3.