Portland, OR, March 22, 2019 (GLOBE NEWSWIRE) -- According to this latest research study, titled, "Big Data Analytics in Healthcare Market by Component, Deployment, Analytics Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global big data analytics in healthcare market was valued at $16.87 billion in 2017, and is projected to reach $67.82 billion by 2025, growing at a CAGR of 19.1% from 2018 to 2025.
Big data analytics in healthcare is an analytic solution that derives insights on patient information and improves treatment techniques by enabling evidence-based disease prevention modeling and diagnostic analysis. The key players, such as IBM Corporation, Optum, Microsoft, and others, provide innovative analytical solutions such as population health management, biometric analysis, clinical decision support, revenue cycle management, risk assessment, value-based analytics, and others to healthcare end users. In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by improving the population health, integrating performance modeling with financial and predictive care monitoring, and others
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The global big data analytics in healthcare market is segmented based on component, deployment, analytics type, application, end user, and region. In terms of component, the market is bifurcated into software and services. On the basis of deployment, it is fragmented into on-premise and cloud. Depending on analytics type, it is segregated into descriptive analytics, predictive analytics, prescriptive analytics, and diagnostic analytics. By application, it is classified into clinical analytics, financial analytics, and operational analytics. By end user segment, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations. Region wise, big data analytics in healthcare market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The clinical application type segment dominated Big Data Analytics in the Healthcare Market share in 2017, and is projected to maintain its dominance during the forecast period. However, financial analytics type is anticipated to witness the highest growth rate during the forecast period.
The cloud deployment segment is expected to grow at the highest CAGR during the forecast period due to greater prospect to facilitate real business value to the organization through reduced cost and improved ability to focus on innovation and differentiation. In addition, direct IT control, internal data delivery & handling, faster data processing, efficient resource utilization, and cost-effectiveness of cloud deployment are some of the advantages offered by this model, which in turn are anticipated to boost the big data analytics in the healthcare market growth.
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The global big data analytics in healthcare market is dominated by key players such as All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation.
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