Big data has tremendous potential in healthcare. As per the latest report published by Market Research Future (MRFR), the global big data in healthcare market is set to demonstrate 20.69% CAGR during the assessment period (2015-2022).
Healthcare companies are realizing the advantages of healthcare data (patient history, drug information, customer record, etc.) Such data can help caregivers deliver improve car delivery, streamline process, and drive revenue growth. Big data analytics in healthcare is also growing in life science R&D, which is emerging as an attractive segment. Combining big data with healthcare applications is viewed as a major step towards making healthcare more dynamic.
Companies are leveraging big data for achieving operational efficiency across regulatory compliance management, financial risk management, and product cross selling. With the help of big data in pharmaceutical companies can better gauge demand growth, improve client support, etc. Big data analytics is witnessing a fast adoption in the pharmaceutical manufacturing sector.
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Competitive Landscape
The global big data in healthcare market includes various key players like Optum, Cognizant, Philips, Dell, Cerner Corporation, Siemens, Xerox, GE Healthcare, Mckesson, and others.
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Segmentation Analysis
The segmental analysis of the market has been conducted based on services and components. software deployment type, analytic service applications and analytic service type.
Regional Analysis
The global big data in healthcare market is geographically studied across the following regions: Europe, Americas, Asia Pacific, and the Middle East & Africa.
The American market holds the highest share in the global standings and is expected to only ameliorate in the near future. The American segment divides into two regions, Latin America and North America. North America holds a majority of the share due to extensive usage of IT and high rate of expenditure in the healthcare sector. Additionally, the high rate of adoption of some of the latest technologies and the presence of key players in the region also aids the market growth in this region.
Europe holds the second largest share of the global big data in healthcare market. The market herein is driven by the high volume of expenditure spent on the healthcare industry. The Asia Pacific regional market is forecasted to grow in a fast-paced manner due to factors such as high adoption rate of the latest technologies, economic upsurge in the region, and a determined focus upon the healthcare sector.
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Lastly, the Middle East and Africa is expected to garner a modest growth in the forthcoming years. The African market is anticipated to experience limited growth owing to the low development of the healthcare industry and weak economic situation. Whereas, the Gulf region is expected to primarily drive the Middle Eastern market.
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