Healthcare Big Data Analytics Market Research Report - Global Forecast till 2027

Healthcare Big Data Analytics Market Research Report: By Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, and Others), Product (Hardware, Software, and Service), Application (Financial Analytics, Clinical Analytics, Operational & Administrative Analytics, Population Health Analytics, and Others), Mode of Delivery (On-Premise Model, Cloud-Based Model), End User (Healthcare Provider, Pharmaceutical Industry, Biotechnology Industry, Academic Organizations, and Others), and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa)—Global Forecast till 2027

ID: MRFR/HCIT/0255-HCR | February 2021 | Region: Global | 80 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data

Market Scenario The global healthcare big data analytics market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 12,800.6 million in 2018 and is projected to register a valuation of USD 60,966.8 million by 2025, at a CAGR of 24.98% over the forecast period. The increasing adoption of electronic health record (EHR) and electronic medical record (EMR) in healthcare, rising investments in the healthcare IT sector, and increasing government initiatives for the development of the healthcare sector are likely to provide favorable conditions for the growth of the market during the forecast period. Various other factors, such as the increasing variety and volume of healthcare data generated from various sources, are also expected to propel the growth of the market. However, a lack of skilled in-house resources and technical complexity involved in the process can hamper market growth over the forecast period. Segmentation The global healthcare big data analytics market has been segmented based on type, product, application, mode of delivery, end user, and region. The global market for healthcare big data analytics, by type, has been segmented into descriptive analytics, predictive analytics, prescriptive analytics, and others. Based on product, the market has been segmented into hardware, software, and service. Based on application, the market has been categorized as financial analytics, clinical analytics, operational & administrative analytics, population health analytics, and others. By mode of delivery, the market has been divided into on-premise model and cloud-based model. Based on end user, the market has been classified as financial analytics, clinical analytics, operational & administrative analytics, population health analytics, and others In the current scope of the study, the segments mentioned above are covered into the four global regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The healthcare big data analytics market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European healthcare big data analytics market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The healthcare big data analytics market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The healthcare big data analytics market in the Middle East & Africa has been segmented into the Middle East and Africa. Regional Market Summary Global Healthcare Big Data Analytics Market Share (%), by Region, 2018 Sources: MRFR Analysis The Americas dominated the global market for healthcare big data analytics owing to the rising adoption of big data and analytics solutions by healthcare organizations to make their business more data-driven, increasing healthcare expenditure, and the presence of a well-established healthcare sector in the region. According to the report published by Centre for Medicaid and Medicare Services, in 2017, the US spending on healthcare for year 2016-17 was close to USD 3500 billion, which is approximately USD 10,739 per person. Moreover, presence of major players such as Allscripts Healthcare Solutions, IBM, McKesson Corporation, and Oracle in the region is also likely to provide favorable conditions for the growth of the market. In 2018, Europe stood second in the healthcare big data analytics market. The increasing adoption of healthcare insurance, rising strategic collaborations and partnerships in the healthcare sector for data management along with growing investments in the healthcare industry in the region is expected to drive the growth of the market. For instance, in 2018 The European Federation of Pharmaceutical Industries and A.T. Kearney entered into strategic partnership to collect oncology-related data in Europe. Germany held the largest share of the market for Healthcare Big Data Analytics in the region. Asia-Pacific (APAC) is expected to witness the fastest growth in the healthcare big data analytics market throughout the forecast period due to the presence of a large patient pool, increasing demand for improved healthcare facilities, and a rise in government support for healthcare IT in the region. Countries in Asia-Pacific are adopting advanced technology in healthcare sector, which, in turn, fuels the market growth in this region. Moreover, presence of developing countries, such as China, India, and Japan, is expected to drive the market growth in the region. On the other hand, the Middle East & Africa is expected to hold the least share of the healthcare big data analytics market due to the low economic development, especially in Africa. Key Players Some of the key players operating in the Global Healthcare Big Data Analytics Market are Allscripts Healthcare Solutions, Cerner, Cotiviti (Verscend Technologies), Citiustech, Health Catalyst, IBM, Inovalon, McKesson Corporation, Medeanalytics, Optum, 3M, Oracle, SAS Institute Inc., and SCIO Health Analytics (An EXL Company). Market Segmentation Global Healthcare Big Data Analytics Market, by Type

Descriptive Analytics

Predictive Analytics

Prescriptive Analytics

Others

Global Healthcare Big Data Analytics Market, by Product

Hardware

Software

Service

Global Healthcare Big Data Analytics Market, by Application

Financial Analytics

Clinical Analytics

Operational & Administrative Analytics

Population Health Analytics

Others

Global Healthcare Big Data Analytics Market, by Mode of Delivery

On-Premise Model

Cloud-Based Model

Global Healthcare Big Data Analytics Market, by End User

Healthcare Provider

Pharmaceutical Industry

Biotechnology Industry

Academic Organizations

Others

Intended Audience

Healthcare Big Data Analytics Developing Companies

Healthcare organizations

Healthcare providers

Government organizations

Biotechnology companies

Research and development (R&D) companie

Report Scope:

Report Attribute/Metric	Details
Market Size	2025: USD 60,966.8 Million 2027: Significant value
CAGR	24.98% (2019-2025)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, Product, Application, Mode of Deliver, End User and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Allscripts Healthcare Solutions, Cerner, Cotiviti (Verscend Technologies), Citiustech, Health Catalyst, IBM, Inovalon, McKesson Corporation, Medeanalytics, Optum, 3M, Oracle, SAS Institute Inc., and SCIO Health Analytics (An EXL Company)
Key Market Opportunities	A lack of skilled in-house resources and technical complexity involved in the process can hamper market growth
Key Market Drivers	The increasing adoption of electronic health record (EHR) and electronic medical record (EMR) in healthcare Rising investments in the healthcare IT sector

Frequently Asked Questions (FAQ) :

What will be the possible market valuation of the healthcare big data analytics market?

The global healthcare big data analytics market is predicted to touch USD 60,966.8 million by 2025.

At what CAGR is the healthcare big data analytics market expected to grow over the forecast period?

The healthcare big data analytics market is predicted to grow at an 24.98% CAGR between 2019-2025.

Which region is predicted to have lions share in the healthcare big data analytics market?

The Americas is predicted to have lions share in the healthcare big data analytics market during the forecast period.

What are the key factors driving the growth of healthcare big data analytics market?

Increasing use of EHR and EMR in healthcare, increasing government initiatives, and increasing investments in healthcare IT sector are boosting market growth.

Which factors may hamper healthcare big data analytics market growth?

Technical complexity and scarcity of skilled in-house resources may hamper market growth.

Table of Contents

1. REPORT PROLOGUE

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

3. RESEARCH METHODOLOGY

3.1. Overview

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

4. MARKET DYNAMICS

4.1. Overview

4.2. Drivers

4.3. Restraints

4.4. Opportunities

5. MARKET FACTOR ANALYSIS

5.1. Porter’s Five Forces Analysis

5.1.1. Bargaining Power of Suppliers

5.1.2. Bargaining Power of Buyers

5.1.3. Threat of New Entrants

5.1.4. Threat of Substitutes

5.1.5. Intensity of Rivalry

5.2. Value Chain Analysis

6. GLOBAL HEALTHCARE BIG DATA ANALYTICS MARKET, BY TYPE

6.1. Overview

6.2. Descriptive Analytics