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 exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global healthcare big data analytics market to grow at a CAGR of 12.5% during 2021-2026. The healthcare industry generates a large volume of data, driven by patient care, record keeping, and compliance and regulatory requirements. While the majority of this data is stored in the form of hard copies, the rise of value-based care and rapid digitization of healthcare information has prompted the industry to switch to big data analytics for making strategic decisions. Big data is generally processed by data scientists and machine learning algorithms. It helps in identifying geographic markets with high growth potential and boosting healthcare marketing efforts by providing information about the needs and preference of physicians and patients. Big data is expected to grow faster in healthcare as compared to the other sectors, including media, manufacturing and financial services.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Healthcare Big Data Analytics Market Trends:
Over the past few years, healthcare organizations have invested heavily in the market on account of the various benefits offered by big data analytics and artificial intelligence (AI). This increase is driven by the rising number of industry competitors and a massive influx of information. Besides this, with changing legislative regulations, healthcare management software solutions are rapidly being utilized for increasing profits, improving quality of life and personalizing patient care. These solutions also use predictive analysis to foresee the admission rate, which helps hospitals to allocate resources and manage operational costs accordingly while adequately utilizing the existing staff. Moreover, the need for eliminating incidences related to adverse drug events (ADEs) is another factor escalating the demand for big data analytics in the healthcare sector as these systems help in identifying fatal prescription errors before they occur.
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Insights on Market Segmentation:
Competitive Landscape with Key Player:Coagulation Analyzer Market
- Allscripts Healthcare, LLC
- 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.
Market Breakup by Component:
Market Breakup by Analytics Type :
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Cognitive Analytics
Market Breakup by Delivery Model:
- On-Premise Delivery Model
- On-Demand Delivery Model
Market Breakup by Application:
- Financial Analytics
- Clinical Analytics
- Operational Analytics
Market Breakup by End-User :
- Hospitals and Clinics
- Finance and Insurance Agencies
- Research Organizations
Market Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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