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The current market landscape features the presence of close to 405 big data service providers in healthcare. The majority of the big data in healthcare service providers offer both data warehouses and data lakes as storage and management solution for healthcare big data. Further, the maximum of the service providers caters to the needs of healthcare providers, including hospitals, and clinics, followed by companies that offer big data in healthcare services for contract research organizations and pharmaceutical companies.
The global big
data in healthcare market size is estimated to grow from USD 78 billion in
2024 to USD 540 billion by 2035, representing a CAGR of 19.20% during the
forecast period till 2035.
Notably, the maximum number of companies are engaged in
offering big data analytics as a part of their big data services. This
indicates significant demand for data analysis and insights across various
healthcare segments. This is followed by companies that provide big data
management services to effectively organize and store both unstructured and
structured healthcare big data.
Most of the services providers are offering operational
management services for big data in healthcare. It is worth noting that
operational management in healthcare involves optimizing processes and
improving efficiency in areas, including resource allocation, workflow
management, and supply chain management.
The big data in healthcare market is anticipated to grow at
a healthy pace, till 2035. The different driving factors for the big data in
healthcare market include the growing volume of healthcare data arising from
various sources including patient health records, medical imaging, genomic
sequencing, pharmaceutical research, wearables, and medical devices. Our
estimates suggest that currently, the maximum revenue generated in this domain
is likely to be driven by the hardware segment; this trend is likely to change
in the foreseen future, as software is expected to lead the market in future.
Based on primary and secondary research, our estimates
suggest that the hardware segment of the big data in healthcare market is
likely to be driven by storage devices. This can be attributed to the
increasing volume of data generated in the healthcare industry, including
electronic health records and medical imaging.
In terms of type of service segment, the big data in
healthcare market is likely to be driven by diagnostic analytics. Furthermore,
most of the market share is captured by electronic health records, followed by
revenue cycle management software, and practice management software. This trend
is unlikely to change in the foreseeable future. Presently, our estimates
suggest that initiatives focused on operational management are likely to drive
the current big data in healthcare market. This can be attributed to the fact
that operational data is one of the largest sources of data in the healthcare
industry and given the complexity of the healthcare industry. It is important
to highlight that low-middle income countries are expected to grow with the
fastest CAGR in the near future.
According to our primary and secondary research presently,
the majority of the big data market in healthcare is occupied by hospitals,
followed by health insurance agencies. Further, this trend is unlikely to
change in the foreseeable future as well.
It is worth highlighting
that the big data in healthcare market
is dominated by North America and this trend is unlikely to change in the
foreseeable future. On the other hand, the big data in healthcare market in
Asia is expected to grow at a fastest pace, during the forecast period.
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