GLOBAL BIG DATA IN HEALTHCARE MARKET Focus on Hardware, Software Type, Deployment Model, Analytic Service Type, Analytic Service Applications, and Geography – Estimation & Forecast, 2015–2022
Several forces are triggering the boost in the overall demand for Big Data integration in the healthcare industry. Governmental agencies are encouraging the use of Big Data in the healthcare sector. The Department of Health and Human Services (HHS) under the Health Data Initiative (HDI) is starting to release data from agencies like Food and Drug Administration (FDA) and the Centers for Disease Control (CDC) in order to access public data of patients for clinical trials and other research activities. To ensure adequate access to information in a standard format, the Federal Government announced the Big Data Research and Development Initiative in March 2012, to support the release and usability of the data stores.
The integration of Big Data Analytics in the healthcare sector will, in turn, keep the patients and the healthcare ecosystem aware of what is appropriate for them. Big Data analytics will ensure that the patient gets the most appropriate treatment by connecting the patient with the right kind of care provider. Data could also be utilized to provide improved clinical trials accuracy. Physicians at Harvard Medical School and Harvard Pilgrim Healthcare analyzed the 4 years of Electronic Healthcare Record (EHR) data to detect and classify patients with diabetes for public health surveillance.
Our market study includes an overview and analysis of the Big Data analytics in the healthcare sector by components and services, applications and geographical regions, in turn, providing a comprehensive outlook of the market. The report provides an extensive insight of the major developments, trends and key participants. All of the above mentioned report coverage parameters are discussed across different regions like North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Along with emphasizing on the key driving and challenging forces for this market, the report also provides a comprehensive section of the notable regulations, consortiums, patents and standards for the Big Data Analytics in the healthcare sector.
The answers to the following key questions can be found in the report:
The healthcare industry is in a period of rapid change. Advancements in the fields of genetics, biomedical, and information technology are paving a way towards effective personalized treatments in accordance to the individual characteristics of the patients. Exploiting these opportunities requires effective usage of Big Data. Over time, healthcare data has been created and accumulated continuously through patient records, radiology images, clinical trials and genomic sequences. With new technological advancements like mhealth and internet of things (IOT), patients are now able to track their personal health data and share it with their respective physicians for any further remedies. The more data is collected and analyzed, the better medical insights are gained.
With healthcare industry generating zetta bytes of data, Big Data Analytic solutions aims to improve quality care of patients and the overall healthcare ecosystem. The market growth is gaining momentum with government initiatives for Big Data integration in the healthcare sector during recent years. Physicians at Harvard Medical School and Harvard Pilgrim Healthcare analyzed the 4 years Electronic Healthcare Record (EHR) data to detect and classify patients with diabetes for public health surveillance.
The Big Data Analytics in the healthcare sector is estimated to grow over $34.27 billion by the end of 2022. Currently, financial analytics is acquiring a major share of the market in order to reduce frauds in healthcare claims and help healthcare organizations understand their cost structure and maintain their revenue. Clinical analytics is foreseen to have high growth potential by 2020 due to the implementation of innovative technologies like Precision Medicine, mHealth, and sensors in the healthcare industry. Big Data analytics will play a huge role in the evolution of new forms of treatments to treat different therapeutics and will also provide many opportunities to various organizations to skillfully take part in Big Data technology in the present scenario as well as for the future.
North America, Europe, Asia Pacific (APAC), ROW (Middle East, North Africa)
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