According to the latest report by IMARC Group, titled “Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global healthcare big data analytics market reached a value of US$ 25.9 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 12.5% during 2021-2026.
Big data analytics refers to the advanced analytical solutions that consist of a set of statistical predictive models and algorithms that examine data to discover hidden patterns, unknown correlations, customer preferences, etc. Healthcare Big Data analytics assists in collecting, analyzing, and utilizing the biological and clinical data of patients. It is gaining traction in the healthcare industry as it offers accurate data handling, focuses on consumer interests, minimizes healthcare costs, etc. Additionally, healthcare Big Data analytics also aids in detecting healthcare frauds and examining clinical trials and patient records. As a result, it is widely used by hospitals, insurance agencies, research organizations, etc.
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The escalating demand for automated solutions and the expanding digitalization of the healthcare industry are primarily driving the healthcare Big Data analytics market. Besides this, the rising adoption of these solutions for customizing treatment plans and enhancing overall clinical operations is also propelling the market growth. Furthermore, the growing demand for predictive analytics, prescriptive analytics, and descriptive analytics in the healthcare sector is augmenting the global market. Apart from this, the elevating need for technological solutions to assist hospital personnel in processing sensor data in order to determine the condition of a patient is acting as another significant growth-inducing factor. Moreover, the inflating utilization of these systems in analyzing and tracking disease patterns and outbreaks to improve public health surveillance is projected to bolster the healthcare Big Data analytics market over the forecasted period.
Some of Top Players in the Healthcare Big Data Analytics Market Key Players are:
- Allscripts Healthcare Solutions
- Cerner Corporation
- International Business Machines Corporation (IBM)
- COTIVITI, INC.
- Oracle Corporation
- Health Catalyst
- Optum, Inc.
- CitiusTech Inc.
- McKesson Corporation
- MEDEANALYTICS, INC.
- SAS Institute Inc.
- SCIO Health Analytics
- Wipro Limited
- Cognizant Technology Solutions Corporation
- Siemens Healthcare Private Limited
- Hewlett-Packard Inc.
- Koninklijke Philips N.V.
- GE Healthcare.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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