Big Data Analytics in Healthcare Market is anticipated to grow at a substantial CAGR between 2019 and 2030

Market Industry Reports (MIR) has published a new report titled “Big Data Analytics in Healthcare Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Big Data Analytics in Healthcare Market was estimated to be over US$16 billion in 2019. It is anticipated to grow at a substantial CAGR between 2019 and 2030.

The significant growth of big data analytics in healthcare market can be attributed to benefits such as use of Electronic Health Records (EHRs) for digital information of patients that include medical history, demographics, allergies, laboratory test results, etc. Big data analytics also assists in finding frauds in claim processing, thus helping insurance companies to prevent losses. Moreover, big data analytics also helps hospitals with staff management. Generating real-time alerts regarding the patients’ health conditions for doctors with big data analytics is also contributing significantly toward market growth.

Other factors including governments’ regulations to intensifying healthcare expenditure, an ever increasing number of hospitals and growing healthcare demand in developing countries is further fueling the growth of big data analytics in the healthcare market.

The factors impacting the market negatively include security and confidentiality concerns of the patient’s data. Patients are reluctant about disclosing their data that might affect their privacy, further hampering market growth.

Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Big Data Analytics in Healthcare Market by Component (Software, Services and Hardware), Deployment (On-Premise and Cloud), Analytics Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, and Diagnostic Analytics), Application (Clinical Analytics, Financial Analytics, and Operational Analytics), and End User (Hospitals & Clinics, and Finance & Insurance Agencies): Global Opportunity Analysis and Industry Forecast, 2019 – 2030 in detail along with the table of contents:

Asia Pacific is estimated to account for the highest CAGR in big data analytics in healthcare market over the forecast period. Due to increasing adoption trends of big data analytics in healthcare in countries such as India, China, Japan, and others, the market is showing promising growth rates in these regions. In addition to this, growing medical tourism, rising awareness, and increasing disposable income are positively impacting market growth in these countries. As a result, the big data analytics in healthcare market is likely to expand in these regions during the forecast period.

Some prominent players in the global big data analytics in healthcare market include Allscripts Healthcare, LLC, Cerner Corporation., Dell Inc., Epic System Corporation, GENERAL ELECTRIC COMPANY, Hewlett Packard Enterprise (Hpe), International Business Machines Corporation (IBM), Microsoft, Optum, inc and Oracle, among others.

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