Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global healthcare big data analytics market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028.
Big data analytics is a type of advanced analytics which consists of a set of statistical algorithms and predictive models supported by high-performance analytics systems. With high-powered computing systems, these solutions offer several business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency and improved patient care. At present, various healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are increasingly adopting big data analytics. This rise can be attributed to the multiple advantages of this service which include detecting healthcare fraud quickly and efficiently, and analyzing clinical trials and patient records.
In the coming years, the existing healthcare data volume is expected to grow significantly owing to the rapid change in healthcare reimbursement models. Owing to this, organizations in the industry are leveraging big data analytics to reduce inefficiency in clinical operations, research and development, and public healthcare. In clinical activities, these solutions help in conducting comparative effectiveness research for defining more cost-effective and clinically relevant ways for diagnosing and treating patients. Similarly, in research and development, big data analytics enables operators to create predictive models for lowering attrition and producing more targeted R&D pipeline in drugs and devices. Moreover, big data analytics helps in analyzing and tracking disease patterns, outbreaks and transmission for improving public health surveillance. Such benefits and advantages are currently driving the demand for big data analytics market in the healthcare industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare big data analytics market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component, analytics type, delivery model, application and end-user.
Breakup by Component:
Services
Software
Electronic Health Record Software
Practice Management
Workforce Management
Hardware
Data Storage
Routers
Firewalls
Virtual Private Networks
E-Mail Servers
Others
Breakup by Analytics Type:
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Cognitive Analytics
Breakup by Delivery Model:
On-Premise Delivery Model
On-Demand Delivery Model
Breakup by Application:
Financial Analytics
Clinical Analytics
Operational Analytics
Others
Breakup by End-User:
Hospitals and Clinics
Finance and Insurance Agencies
Research Organizations
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Allscripts Healthcare, LLC, Cerner Corporation, International Business Machines Corporation (IBM), COTIVITI, INC., Oracle Corporation, Health Catalyst, Inovalon, Optum, Inc., CitiusTech Inc., McKesson Corporation, MEDEANALYTICS, INC., SAS Institute Inc., SCIO Health Analytics, Vitreoshealth, Wipro Limited, Cognizant Technology Solutions Corporation, Siemens Healthcare Private Limited, Hewlett-Packard Inc., Koninklijke Philips N.V., and GE Healthcare.
Key Questions Answered in This Report
1. What was the size of the global healthcare big data analytics market in 2022?
2. What is the expected growth rate of the global healthcare big data analytics market during 2023-2028?
3. What has been the impact of COVID-19 on the global healthcare big data analytics market?
4. What are the key factors driving the global healthcare big data analytics market?
5. What is the breakup of the global healthcare big data analytics market based on the component?
6. What is the breakup of the global healthcare big data analytics market based on the analytics type?
7. What is the breakup of the global healthcare big data analytics market based on the delivery model?
8. What is the breakup of the global healthcare big data analytics market based on the application?
9. What is the breakup of the global healthcare big data analytics market based on the end-user?
10. What are the key regions in the global healthcare big data analytics market?
11. Who are the key players/companies in the global healthcare big data analytics market?
The global healthcare big data analytics market size reached US$ 36.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028.
Big data analytics is a type of advanced analytics which consists of a set of statistical algorithms and predictive models supported by high-performance analytics systems. With high-powered computing systems, these solutions offer several business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency and improved patient care. At present, various healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are increasingly adopting big data analytics. This rise can be attributed to the multiple advantages of this service which include detecting healthcare fraud quickly and efficiently, and analyzing clinical trials and patient records.
In the coming years, the existing healthcare data volume is expected to grow significantly owing to the rapid change in healthcare reimbursement models. Owing to this, organizations in the industry are leveraging big data analytics to reduce inefficiency in clinical operations, research and development, and public healthcare. In clinical activities, these solutions help in conducting comparative effectiveness research for defining more cost-effective and clinically relevant ways for diagnosing and treating patients. Similarly, in research and development, big data analytics enables operators to create predictive models for lowering attrition and producing more targeted R&D pipeline in drugs and devices. Moreover, big data analytics helps in analyzing and tracking disease patterns, outbreaks and transmission for improving public health surveillance. Such benefits and advantages are currently driving the demand for big data analytics market in the healthcare industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare big data analytics market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on component, analytics type, delivery model, application and end-user.
Breakup by Component:
Services
Software
Electronic Health Record Software
Practice Management
Workforce Management
Hardware
Data Storage
Routers
Firewalls
Virtual Private Networks
E-Mail Servers
Others
Breakup by Analytics Type:
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Cognitive Analytics
Breakup by Delivery Model:
On-Premise Delivery Model
On-Demand Delivery Model
Breakup by Application:
Financial Analytics
Clinical Analytics
Operational Analytics
Others
Breakup by End-User:
Hospitals and Clinics
Finance and Insurance Agencies
Research Organizations
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Allscripts Healthcare, LLC, Cerner Corporation, International Business Machines Corporation (IBM), COTIVITI, INC., Oracle Corporation, Health Catalyst, Inovalon, Optum, Inc., CitiusTech Inc., McKesson Corporation, MEDEANALYTICS, INC., SAS Institute Inc., SCIO Health Analytics, Vitreoshealth, Wipro Limited, Cognizant Technology Solutions Corporation, Siemens Healthcare Private Limited, Hewlett-Packard Inc., Koninklijke Philips N.V., and GE Healthcare.
Key Questions Answered in This Report
1. What was the size of the global healthcare big data analytics market in 2022?
2. What is the expected growth rate of the global healthcare big data analytics market during 2023-2028?
3. What has been the impact of COVID-19 on the global healthcare big data analytics market?
4. What are the key factors driving the global healthcare big data analytics market?
5. What is the breakup of the global healthcare big data analytics market based on the component?
6. What is the breakup of the global healthcare big data analytics market based on the analytics type?
7. What is the breakup of the global healthcare big data analytics market based on the delivery model?
8. What is the breakup of the global healthcare big data analytics market based on the application?
9. What is the breakup of the global healthcare big data analytics market based on the end-user?
10. What are the key regions in the global healthcare big data analytics market?
11. Who are the key players/companies in the global healthcare big data analytics market?
Table of Contents
110 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Healthcare Big Data Analytics Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Component
- 5.5 Market Breakup by Analytics Type
- 5.6 Market Breakup by Delivery Model
- 5.7 Market Breakup by Application
- 5.8 Market Breakup by End-User
- 5.9 Market Breakup by Region
- 5.10 Market Forecast
- 6 Market Breakup by Component
- 6.1 Service
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Software
- 6.2.1 Market Trends
- 6.2.2 Major Types
- 6.2.2.1 Electronic Health Record Software
- 6.2.2.2 Practice Management Software
- 6.2.2.3 Workforce Management Software
- 6.2.3 Market Forecast
- 6.3 Hardware
- 6.3.1 Market Trends
- 6.3.2 Major Types
- 6.3.2.1 Data Storage
- 6.3.2.2 Routers
- 6.3.2.3 Firewalls
- 6.3.2.4 Virtual Private Networks
- 6.3.2.5 E-Mail Servers
- 6.3.2.6 Others
- 6.3.3 Market Forecast
- 7 Market Breakup by Analytics Type
- 7.1 Descriptive Analytics
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Predictive Analytics
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Prescriptive Analytics
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Cognitive Analytics
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 8 Market Breakup by Delivery Model
- 8.1 On-Premise Delivery Model
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 On-Demand Delivery Model
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 9 Market Breakup by Application
- 9.1 Financial Analytics
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Clinical Analytics
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Operational Analytics
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Others
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 10 Market Breakup by End-User
- 10.1 Hospitals and Clinics
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Finance and Insurance Agencies
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Research Organizations
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 11 Market Breakup by Region
- 11.1 North America
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Europe
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Asia Pacific
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Middle East and Africa
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 11.5 Latin America
- 11.5.1 Market Trends
- 11.5.2 Market Forecast
- 12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
- 13 Value Chain Analysis
- 14 Porter’s Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
- 15 Price Analysis
- 16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 Allscripts Healthcare, LLC
- 16.3.2 Cerner Corporation
- 16.3.3 International Business Machines Corporation (IBM)
- 16.3.4 COTIVITI, INC.
- 16.3.5 Oracle Corporation
- 16.3.6 Health Catalyst
- 16.3.7 Inovalon
- 16.3.8 Optum, Inc.
- 16.3.9 CitiusTech Inc.
- 16.3.10 McKesson Corporation
- 16.3.11 MEDEANALYTICS, INC.
- 16.3.12 SAS Institute Inc.
- 16.3.13 SCIO Health Analytics
- 16.3.14 Vitreoshealth
- 16.3.15 Wipro Limited
- 16.3.16 Cognizant Technology Solutions Corporation
- 16.3.17 Siemens Healthcare Private Limited
- 16.3.18 Hewlett-Packard Inc.
- 16.3.19 Koninklijke Philips N.V.
- 16.3.20 GE Healthcare
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