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The global big data in healthcare market size was valued at USD 34 billion in 2023, driven by the increasing geriatric population and integration of technological advancements in the healthcare sector. The market size is anticipated to grow at a CAGR of 14% during the forecast period of 2024-2032 to achieve a value of USD 110.4 billion by 2032.
Big data in healthcare refers to the practice of collecting and processing large amounts of data. Big data has wide applications in healthcare, including large amounts of data such as patient records, treatment history, allergies, and treatment progress, among others. The focus of the modern healthcare system is to prioritize the patient's needs and consider the physician as a partner in achieving successful therapeutic outcomes. To achieve this goal, Electronic Health Records (EHRs) and other digital patient data are collected in large quantities every day. Analyzing such a massive amount of data requires the assistance of technology, especially advancements in big data analysis. Big data refers to the vast amount of information that comes from various sources, such as EHRs, pharmaceutical research, medical devices, and wearables.
Big data has a significant impact on the healthcare industry and offers numerous growth opportunities. The rise in demand for analytics solutions for patient health management, the need for big data to optimize health administration and strategy, and the increasing adoption of big data in healthcare are among the various driving factors for market growth. The rising geriatric population and preference for personalized treatment among people is propelling the market growth. Additionally, the increasing interest of market players is involved in strategic initiatives like product launches, partnerships, and research and development investment, which are also contributing to the global big data in healthcare market growth. The increasing advancements in technology, coupled with increased adaptation, are further expected to drive the market growth in the forecast period.
Integration of Smart Technologies and Tools
Healthcare, just like all the other industries, is a full-fledged industry integrated with advanced technologies such as big data, AI, machine learning, among others. The increased adoption of these technologies is a major factor influencing market growth. For instance, Epic, a software company announced the integration of Abridge’s clinical documentation tool into its EHR workflow. Abridge's AI tool listens to patient visits and generates an instant summary that follows a typical structure that a physician follows while noting it down.
Abridge, a Pittsburgh-based startup, is automating clinical documentation in healthcare. Helping them focus more on the patient rather than on documenting or transcribing the conversation later to make notes. Such advancements and their convenience and increased adaptation by healthcare facilities are expected to further contribute to the global big data in healthcare market share.
Increasing Fundings to Significantly Support the Market Growth
The market growth is expected to be influenced by the increased funding events among key players. For instance, in February 2023, ShiftMed, a mobile app that connects healthcare workers and providers, confirmed USD 200 million in fresh funding to fuel growth as investors continue to invest more in healthcare staffing companies . Such investments are expected to influence the market growth in the forecast period as these software apps use advanced technologies such as big data to process all the data of every worker they are employing and process it regularly. These approaches are anticipated to boost market growth in the forecast period.
Strategic Acquisitions to Play a Pivotal Role
The market is highly influenced by the increasing interest, investments, and adaptation of advanced technologies in the healthcare sector, bolstering the global big data in healthcare market growth. For instance, In November 2023, Thoma Bravo, a leading software investment firm acquired NextGen Healthcare, Inc. ("NextGen Healthcare" or the "Company"), a leading provider of innovative, cloud-based healthcare technology solutions, for USD 1.8 billion. With the completion of the transaction, NextGen Healthcare shareholders are entitled to receive USD 23.95 per share in cash. This investment by Thoma Bravo may enable NextGen Healthcare to share resources and develop better software solutions in healthcare such as enhancing data analytics capabilities within their platforms and leveraging big data to drive insights and improvements in patient care, operational efficiency, and decision-making.
Market Breakup by Components
Market Breakup by Mode of Deployment
Market Breakup by Analytics Type
Market Breakup by Applications
Market Breakup by End User
Market Breakup by Region
Geographically, North America is expected to dominate the big data healthcare market due to the rise in advancements in the Internet of Things (IoT). The market is further driven by the increase in demand for analytical models on patient information for better service delivery and government policies on the use of telemedicine and EHRs. The regional market is expected to keep an upward trajectory in the forecast period driven by the presence of an advanced and robust healthcare system, convenient in the adoption of advanced technologies such as big data and artificial intelligence AI.
Market players are investing heavily in technologically advanced healthcare solution companies, which is likely to drive the big data in healthcare market size further. In February 2023, Valant, a Seattle, WA-based provider of a cloud-based EHR for behavioral health practices, received an investment from Resurgens Technology Partners. The amount of the deal was not disclosed. The company intends to use the funds to expand how serves its customers and accelerate its new client acquisition in support of its purpose.
In September 2023, Oracle rolled out a press release about introducing new healthcare-specific capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations increase financial visibility, build more resilient supply chains, and improve patient care. The new capabilities will enable healthcare organizations to increase productivity, reduce costs, embrace new business models, enhance decision making, and better serve patient needs.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Components |
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Breakup by Mode of Deployment |
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Breakup by Analytics Type |
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Breakup by Applications |
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Breakup by End User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Big Data in Healthcare Market Overview
3.1 Global Big Data in Healthcare Market Historical Value (2017-2023)
3.2 Global Big Data in Healthcare Market Forecast Value (2024-2032)
4 Global Big Data in Healthcare Market Landscape
4.1 Global Big Data in Healthcare Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Big Data in Healthcare Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Component
4.2.3 Analysis by Applications
5 Global Big Data in Healthcare Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Big Data in Healthcare Market Segmentation
6.1 Global Big Data in Healthcare Market by Components
6.1.1 Market Overview
6.1.2 Software
6.1.2.1 Electronic Health Record Software
6.1.2.2 Practice Management
6.1.2.3 Workforce Management
6.1.3 Services
6.2 Global Big Data in Healthcare Market by Mode of Deployment
6.2.1 Market Overview
6.2.2 On - Premises
6.2.3 Cloud
6.3 Global Big Data in Healthcare Market by Analytics Type
6.3.1 Market Overview
6.3.2 Descriptive
6.3.3 Predictive
6.3.4 Prescriptive
6.4 Global Big Data in Healthcare Market by Applications
6.4.1 Market Overview
6.4.2 Clinical Data Analytics
6.4.3 Financial Analytics
6.4.4 Operational Analytics
6.5 Global Big Data in Healthcare Market by End User
6.5.1 Market Overview
6.5.2 Hospitals and Clinics
6.5.3 Finance and Insurance Agencies
6.5.4 Research Organizations
6.5.5 Others
6.6 Global Big Data in Healthcare Market by Region
6.6.1 Market Overview
6.6.2 North America
6.6.3 Europe
6.6.4 Asia Pacific
6.6.5 Latin America
6.6.6 Middle East and Africa
7 North America Big Data in Healthcare Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Big Data in Healthcare Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Big Data in Healthcare Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Others
10 Latin America Big Data in Healthcare Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Big Data in Healthcare Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Funding and Investment Analysis
12.1 Analysis by Funding Instances
12.2 Analysis by Type of Funding
12.3 Analysis by Funding Amount
12.4 Analysis by Leading Players
12.5 Analysis by Leading Investors
12.6 Analysis by Geography
13 Partnership and Collaborations Analysis
13.1 Analysis by Partnership Instances
13.2 Analysis by Type of Partnership
13.3 Analysis by Leading Players
13.4 Analysis by Geography
14 Regulatory Framework
15 Supplier Landscape
15.1 Allscripts Healthcare Solutions, Inc.
15.1.1 Financial Analysis
15.1.2 Product Portfolio
15.1.3 Demographic Reach and Achievements
15.1.4 Mergers and Acquisition
15.1.5 Certifications
15.2 Cerner Corp.
15.2.1 Financial Analysis
15.2.2 Product Portfolio
15.2.3 Demographic Reach and Achievements
15.2.4 Mergers and Acquisition
15.2.5 Certifications
15.3 Optum Inc.
15.3.1 Financial Analysis
15.3.2 Product Portfolio
15.3.3 Demographic Reach and Achievements
15.3.4 Mergers and Acquisition
15.3.5 Certifications
15.4 Premier, Inc.
15.4.1 Financial Analysis
15.4.2 Product Portfolio
15.4.3 Demographic Reach and Achievements
15.4.4 Mergers and Acquisition
15.4.5 Certifications
15.5 McKesson Corporation
15.5.1 Financial Analysis
15.5.2 Product Portfolio
15.5.3 Demographic Reach and Achievements
15.5.4 Mergers and Acquisition
15.5.5 Certifications
15.6 Hewlett Packard Enterprise (HPE)
15.6.1 Financial Analysis
15.6.2 Product Portfolio
15.6.3 Demographic Reach and Achievements
15.6.4 Mergers and Acquisition
15.6.5 Certifications
15.7 International Business Machines Corporation (IBM)
15.7.1 Financial Analysis
15.7.2 Product Portfolio
15.7.3 Demographic Reach and Achievements
15.7.4 Mergers and Acquisition
15.7.5 Certifications
15.8 Microsoft Corporation
15.8.1 Financial Analysis
15.8.2 Product Portfolio
15.8.3 Demographic Reach and Achievements
15.8.4 Mergers and Acquisition
15.8.5 Certifications
15.9 Oracle Corp.
15.9.1 Financial Analysis
15.9.2 Product Portfolio
15.9.3 Demographic Reach and Achievements
15.9.4 Mergers and Acquisition
15.9.5 Certifications
15.10 GE Healthcare
15.10.1 Financial Analysis
15.10.2 Product Portfolio
15.10.3 Demographic Reach and Achievements
15.10.4 Mergers and Acquisition
15.10.5 Certifications
16 Global Big Data in Healthcare Market - Distribution Model (Additional Insight)
16.1 Overview
16.2 Potential Distributors
16.3 Key Parameters for Distribution Partner Assessment
17 Key Opinion Leaders (KOL) Insights (Additional Insight)
18 Company Competitiveness Analysis (Additional Insight)
18.1 Very Small Companies
18.2 Small Companies
18.3 Mid-Sized Companies
18.4 Large Companies
18.5 Very Large Companies
19 Payment Methods (Additional Insight)
19.1 Government Funded
19.2 Private Insurance
19.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
The market attained a value of about USD 34 billion in 2023, driven by increased advancements.
The market is anticipated to grow at a CAGR of 14% during the forecast period of 2024-2032 and is likely to reach a market value of USD 110.4 billion by 2032.
The rising demand for analytics solutions for patient health management, the need for big data to optimize health administration and strategy, the increasing adoption of big data in healthcare, the rising geriatric population, the preference for personalized treatment, product launches, increasing technological advancement in the healthcare sector is a major factor driving the market growth.
The increasing acquisitions between market players, such as Thoma Bravo acquiring NextGen Healthcare, is a major trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
The components include software such as electronic health record software, practice management, workforce management, and services.
There are two modes of deployment on-premises and cloud.
Types of analytics include descriptive, predictive, and prescriptive.
Big data in healthcare finds wide applications in clinical data analytics, financial analytics, and operational analytics.
End users in the market include hospitals, clinics, finance and insurance agencies, and research organizations, among others.
Key players involved in the market include Allscripts Healthcare Solutions, Inc., Cerner Corp., Optum Inc., Premier, Inc., McKesson Corporation, Hewlett Packard Enterprise (HPE), International Business Machines Corporation (IBM), Microsoft Corporation, Oracle Corp., GE Healthcare.
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