Our world is rapidly growing and enhancing in terms of both, competition and population. A proper infrastructure to efficiently cater to the needs and also in order to facilitate and maintain perfect harmony is vital. This infrastructure can be maintained with the help of Data. And, when it comes to healthcare, extraction, and use of data becomes infinite times more vital as it involves structuring human sustenance. Big Data as the name suggests does not necessarily always mean a large set of data but information and analytics, both structured as well as unstructured, including hidden patterns, market trends, unknown correlations, and customer preferences, which can help organizations and firms to make better decisions and strategic business moves. The potential for data-driven organizational growth in the hospitality sector is phenomenal. Global Healthcare Big Data Market is expected to reach around $67.82 billion by 2025 at an enormous CAGR of 19.1%.
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HEALTHCARE BIG DATA MARKET SEGMENTATION:
By Intended Audience:
- Global Big data in healthcare manufacturers & suppliers
- Research and development (R&D) companies
- Hospitals and clinics
- Academic institutes and universities
By Analytics Type:
- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics
- Diagnostic Analytics
- Clinical Analytics
- Financial Analytics
- Operational Analytics
By End User:
- Hospitals & Clinics
- Finance & Insurance Agencies
- Research Organizations
- North America
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- The majority of the key players involved in the research of Big Data healthcare are established in developed countries.
- North America holds a large share of the Big Data Healthcare Market. Owing to the vast array of patient information ,early adoption of technology and presence of major players, rise in advancements in IoT increase in the demand for analytical models on patient information for better service delivery, government policies, aggregation of data from multiple sources, this region is likely to continue its dominance in the coming years as well.
- Europe is known to be the second-largest market in the globe due to its high expenditure in this sector.
- Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness, which has helped the market to grow. Countries like India and China are likely to lead the market due to unmet needs. APAC is expected to grow at a higher CAGR because of increasing clinical trials and aging population in this region.
- Gulf nations such as Saudi Arabia and the UAE drive the Middle East & African market. The African region is expected to witness moderate growth because of the poor economic and political conditions and also poor healthcare development.
- Regionally, the market for big data in healthcare is expected to gain massive traction and expansion.
FEW KEY PLAYERS IN HEALTHCARE BIG DATA MARKET:
- Cerner Corporation
- Dell EMC
- Epic System Corporation
- Optum Inc
- International Business Machines (IBM) Corporation
- Oracle Corporation
- Hewlett Packard Enterprise Development LP
- GE Healthcare
- Other Key & Niche Players
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