With 19.2% CAGR, Big Data Analytics In Healthcare Market Is Reaching A Value of US$ 194.7 Billion by 2032

The global big data analytics in healthcare market is expected to be worth US$ 39.7 billion in fiscal year 2022, up from US$ 33.8 billion in fiscal year 2021. From 2022 to 2032, the market is expected to grow at a 19.2% CAGR, reaching a value of US$ 194.7 billion by the end of 2032.

According to the current situation, the worldwide big data analytics industry accounts for almost 14.2% of the healthcare sector, as per Fact. MR, a market research and competitive intelligence provider.

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Key Takeaways:

  • Based on spender type, the healthcare provider segment is projected to account for 72.8% of the total market share over the assessment period.
  • In terms of deployment type, sales in the cloud-based segment are forecast to command 65% of the total market share.
  • Demand for predictive analytics is expected to increase at a 21.6% CAGR through 2032.
  • Applications in the transactional data segment are projected to hold nearly 50% of the total market share.
  • The U.S. will continue to dominate the North America market, with sales growing at a 18.9% CAGR through 2032.
  • China is expected to emerge as an attractive pocket, commanding a lion’s share in the East Asia market.

Growth Drivers:

  • Rapid adoption of technologically advanced data backup services and tools in emerging economies will boost the market.
  • Increasing deployment of on-premise services as a part of sustainability drive in chemist shops, local medical wholesalers, and other healthcare facilities will propel sales in the market.

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Competitive Landscape

Leading players operating in the global big data analytics in healthcare market are focusing on research and development to diversify their product portfolios. Besides this, players are investing in mergers, acquisitions, collaborations and, partnerships to expand their global presence and distribution networks.

For instance, in October 2020, a global leader in software solutions, launched a new service known as Microsoft Cloud for Healthcare. The new service improves collaboration between healthcare providers and patients, improves health data insights, and protects patient data effectively.

Key Players in the Big Data Analytics in Healthcare Market Include:

  • IBM Corporation
  • OptumHealth Care Solutions
  • Microsoft Corp
  • McKesson
  • MedeAnalytics
  • Verisk Analytics
  • Allscripts Healthcare Solutions
  • Oracle Corp
  • Zephyr Health
  • Cisco Systems Inc.
  • Infosys
  • SAS Institute
  • Alteryx
  • SAP SE
  • Denodo Technologies Inc.

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More Valuable Insights on Big Data Analytics in Healthcare Market

Fact.MR provides an unbiased analysis of the big data analytics in healthcare market, presenting historical demand data (2016-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global big data analytics in healthcare market with a detailed segmentation on the basis of:

Spender Type:

  • Healthcare Payer
  • Healthcare Provider

Tool Type:

  • Data Warehouse Analytics
  • Financial Analytics
  • Production Reporting
  • CRM Analytics
  • Predictive Analytics
  • Visual Analytics
  • Risk Management Analytics
  • Supply chain Analytics
  • Test Analytics

Application:

  • Access Clinical Information
  • Access Operational Information
  • Access Transactional Data

Deployment:

  • Cloud-based
  • On-premises

Regions:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Questions Covered in Big Data Analytics in Healthcare Market Report

  • The report offers insight into the big data analytics in healthcare market demand outlook for 2022-2032.
  • The market study also highlights projected sales growth for big data analytics in healthcare market between 2022 and 2032.
  • Big data analytics in healthcare market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
  • Big data analytics in healthcare market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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