Pune, April 25, 2023 (GLOBE NEWSWIRE) -- A global Healthcare business consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the “Healthcare Big Data Analytics Market”. The report is a combination of primary data and secondary data and domain expert has analyzed Healthcare Big Data Analytics Market from a global point and regional standpoint. According to the MMR analysis, Global Healthcare Big Data Analytics Market expected to hit USD 82.3 Bn. by 2029 from USD 22.3 Bn. in 2022 at a CAGR of 20.5 percent during the forecast period.
Healthcare Big Data Analytics Market Report Scope and Research Methodology
| Market Size in 2022 | USD 22.3 Bn. |
| Market Size in 2029 | USD 82.3 Bn. |
| CAGR | 20.5 percent |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 281 |
| No. of Tables | 127 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Type, Application, Component, Deployment Model, and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The Healthcare Big Data Analytics Market report is an in-depth analysis of the industry, focusing on emerging trends, growth drivers, market opportunities, and major challenges. The report follows a bottom-up approach to estimate the global and regional market size, using data triangulation techniques such as data mining and primary validation by industry experts. The report extensively uses secondary sources such as directories, databases, and government associations, as well as company and private websites for data collection.
To assess the competitive landscape, the report conducts a SWOT analysis for key players and uses a PESTLE analysis to understand the potential impact of microeconomic and macroeconomic factors on the market. Regional market analysis is provided at global, regional, and national levels, offering insights on market penetration, prominent companies, and growth plans.
In addition, the report offers a comprehensive and detailed overview of the Healthcare Big Data Analytics Market, aimed at helping readers understand its current status and future prospects. The report provides a comprehensive analysis of the industry, utilizing data triangulation, secondary sources, SWOT analysis, and PESTLE analysis to offer insights into the market's trends, growth opportunities, and challenges. The report's regional market analysis helps readers understand the market's penetration, key players, and growth strategies at global, regional, and national levels.
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Healthcare Big Data Analytics Market Dynamics
The growing demand for data-driven insights in the healthcare industry, as healthcare providers and payers seek to optimize operations, improve patient outcomes, and reduce costs is expected to be the major growth driver for the Healthcare Big Data Analytics market. In addition, advancements in technology, including artificial intelligence, machine learning, and natural language processing, are enabling healthcare organizations to process and analyze large volumes of data in real time, extract meaningful insights, and automate routine tasks, leading to faster and more accurate decision-making, increasing demand for Healthcare Big Data Analytics. Besides that, favorable government initiatives are driving the growth of the healthcare big data analytics market, as governments invest in healthcare IT infrastructure and promote the adoption of big data analytics solutions in the healthcare industry.
Healthcare Big Data Analytics Market Regional Insights
North America is expected to dominate the healthcare big data analytics market during the forecast period. The region has a highly developed healthcare system and a significant number of healthcare providers and payers that are investing heavily in big data analytics solutions to improve patient outcomes, reduce costs, and optimize operations. Europe is also a significant market for healthcare big data analytics, driven by increasing demand for healthcare data analytics solutions, favorable government initiatives, and the presence of major market players. In addition, The Middle East & Africa region is expected to see moderate growth in the healthcare big data analytics market during the forecast period, driven by increasing government initiatives and growing demand for advanced healthcare services in the region.
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Healthcare Big Data Analytics Market Segmentation
By Type
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Cognitive Analysis
By Application
- Financial Analysis
- Operational & Administrative Analysis
- Clinical Analysis
- Population Health Analytics
By Component
- Hardware
- Software
- Service
By Deployment Model
- On-premise
- On-Demand
By End User
- Healthcare Payers
- Healthcare Providers
- ACOs, HIEs, MCOs, and TPAs
The healthcare payers segment is expected to grow significantly during the forecast period. Private insurance companies, government agencies, employers, and private exchanges are all considered payers in the market. The growth of the payers segment is closely linked to the growth of the providers in the market. As provider networks expand, there is an increasing demand for healthcare data analytics to optimize operations, improve patient outcomes, and reduce costs. This demand is driving the growth of the payers' segment as healthcare payers invest in data analytics solutions to help them manage their networks more effectively.
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Healthcare Big Data Analytics Market Key Competitors include:
- ALLSCRIPTS HEALTHCARE LLC.
- Cerner Corporation
- HEALTH CATALYST
- HMS (VITREOSHEALTH)
- INTERNATIONAL BUSINESS MACHINES CORPORATION
- MEDEANALYTICS INC.
- OPTUM INC.
- ORACLE CORPORATION
- SAS INSTITUTE INC.
- Cotiviti Inc.
- Citius Tech Inc.
- Komodo Health Inc.
- Sema4 OpCo Inc.
- Evidation Health Inc.
- Insilico Medicine
- Exscientia
- Aetion Inc.
- Premier
- McKesson Corporation
- Gainwell
- ExlService Holdings Inc.
- Flatiron
- Apixio
- Inovalon
- Wipro
Key Offerings:
- Past Market Size and Market Competitiveness (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Challenges, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type, Application, Component, Deployment Model, End User and Region
- Competitive Landscape –A detailed scenario of the competitive environment in the global market
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- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region based on product Portfolio, End-Users, Revenues, Manufacturing Locations, etc.
- Market Consolidations – Mergers, Acquisitions, Joint Ventures, Partnerships.
- Company Profiles – Business Overview, Financial Overview, Business Strategy, SWOT Analysis, Recent Development.
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- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Key Takeaways
- Industry Recommendations
Key questions answered in the Healthcare Big Data Analytics Market are:
- What is the growth potential of the Healthcare Big Data Analytics Market?
- What was the Healthcare Big Data Analytics Market Size in 2022?
- What are the global drives in Healthcare Big Data Analytics Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Healthcare Big Data Analytics Market?
- How the intervention from regulatory authority is shaping Healthcare Big Data Analytics Market?
- What growth strategies are the players considering to increase their global presence in the Healthcare Big Data Analytics Market?
- Who are the leading companies in Healthcare Big Data Analytics Market?
- What are the major challenges posed by Healthcare Big Data Analytics Market?
- Which segment held the largest market share in Healthcare Big Data Analytics Market?
Maximize Market Research is leading research firm, has also published the following reports:
Supply Chain Big Data Analytics Market: Supply Chain Big Data Analytics Market is expected to reach USD 14.83 Bn. by 2029, at a CAGR of 17.3 percent throughout the forecast period. The use of Big Data Analytics in a collection of such data sets can cultivate a proactive decision-making approach for predicting key opportunities and risks in the Supply Chain, which acts as the driving factor for the growth of the Global Supply Chain Big Data Analytics Market.
Hadoop Big Data Analytics Market: Hadoop Big Data Analytics Market size was valued at USD 14.1 Billion in 2021 and the global Hadoop Big Data Analytics revenue is expected to grow at 12.8 percent from 2021 to 2029, reaching USD 36.95 Billion. A major driver of the global Hadoop big data analytics market is the need for highly trained data professionals in various industries e.g. Education.
Big Data in Automotive Industry Market: The Market size is expected to reach USD 13.52 Bn by 2029, at a CAGR of 16.88 percent during the forecast period. Big Data in Automotive Industry is capable of processing and interpreting data from other software in an acceptable manner to streamline business processes. Thus the demand for big data in automotive industry increased significantly.
Surface and Field Analytics Market: The market was valued at USD 21.4 Billion in 2021 and is expected to reach USD 43.91 Billion by 2029, exhibiting a CAGR of 9.4 percent during the forecast period (2022-2029). 3D Modeling and Digital Twin are expected to boost the growth of the Surface and Field Analytics market.
AI in Video Analytics Market: AI in Video Analytics Market is expected to reach USD 82.64 Bn. by 2029, at a CAGR of 31.92 percent throughout the forecast period. The increased adoption of video surveillance in commercial buildings such as malls, airports, railway stations, ports, etc., and residential buildings has raised the demand for visual analytics.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
