Healthcare Big Data Analytics Market Outlook 2024, Share, Size, Key Players and Forecast By 2032

Written by Elena Anderson  »  Updated on: July 09th, 2024

Healthcare Big Data Analytics Market Outlook 2024, Share, Size, Key Players and Forecast By 2032

IMARC Group’s latest research report, titled “Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the healthcare big data analytics market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global healthcare big data analytics market size reached US$ 41.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 118.2 Billion by 2032, exhibiting a growth rate (CAGR) of 11.9% during 2024-2032.

Healthcare big data analytics refers to the process of analyzing large volumes of healthcare-related data to derive meaningful insights and improve decision-making in the medical field. This data encompasses various sources such as electronic health records (EHRs), medical imaging, clinical trials, patient demographics, insurance claims, and wearable devices. Manufacturing healthcare big data involves collecting, storing, and processing massive amounts of structured and unstructured data using advanced technologies like artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). The importance of healthcare big data analytics lies in its potential to enhance clinical outcomes, optimize healthcare operations, reduce costs, personalize patient care, and support medical research.

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Leading Key Players in the Healthcare Big Data Analytics Industry:

• CitiusTech Inc.

• Cognizant

• Cotiviti, Inc.

• ExlService Holdings, Inc.

• Gainwell Technologies LLC

• Health Catalyst

• Hewlett Packard Enterprise Development LP

• Inovalon

• Koninklijke Philips N.V.

• McKesson Corporation

• MedeAnalytics, Inc.

• Optum, Inc.

• Oracle Corporation

• SAS Institute Inc.

• Veradigm LLC

• Wipro Limited

Healthcare Big Data Analytics Market Trends:

The global market is primarily driven by the increasing digitization of healthcare records and the proliferation of IoT devices are generating vast amounts of data, driving the demand for robust analytics solutions to derive actionable insights. Additionally, the growing emphasis on value-based care and population health management, prompting healthcare organizations to invest in analytics tools for better patient outcomes and cost containment is impelling market growth. Moreover, the rise of precision medicine and personalized healthcare approaches necessitates sophisticated analytics capabilities to analyze genetic, clinical, and lifestyle data is further driving market growth. Furthermore, the rising stringent regulatory requirements and compliance standards are driving adoption, as healthcare providers seek to ensure data security and privacy while leveraging analytics for regulatory reporting and risk management is further contributing to market growth. In line with this, the increasing investments in research and development initiatives focused on healthcare analytics technologies, coupled with government initiatives to promote interoperability and data sharing, fueling market demand.

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Market Segmentation :

Breakup by Component:

• Services

• Software

o Electronic Health Record Software

o Practice Management

o Workforce Management

• Hardware

o Data Storage

o Routers

o Firewalls

o Virtual Private Networks

o E-Mail Servers

o 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 (United States, Canada)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

About Us:

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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