$11.45 Bn Big Data in Healthcare Market, 2025

DUBLIN, April 3, 2018 /PRNewswire/ --

The "Global Big Data in Healthcare Market: Analysis and Forecast, 2017-2025 (Focus on Components and Services, Applications, Competitive Landscape and Country Analysis)" report has been added to ResearchAndMarkets.com's offering.

The global big data in healthcare market amounted to $11.45 billion in 2016 and is expected to witness a double-digit growth throughout the forecast period of 2017-2025.

Amid rising healthcare costs, increasing rates of chronic diseases, aging population and declining reimbursement costs, hospitals and other healthcare organizations are under considerable pressure to prioritize investments focusing on improving outcomes and resource management. The increasing supply of health-related data from various sources has the potential to transform the healthcare delivery system, reduce costs, improve patient outcomes and provide value-based care.

The volume of healthcare data accounted for over 700 exabytes in 2017 from 153 million in 2013 and is projected to grow to 2,314 exabytes by 2020. Falling storage costs, emergence of cloud-based services and subscription models, government initiatives and regulatory mandates to encourage adoption of healthcare information systems and increasing adoption of mHealth, eHealth and wearable technologies among consumers are expected to drive the growth of the market.

Organizations are employing analytical tools and artificial intelligence and machine learning techniques on this growing pool of data to derive data-driven insights to reduce healthcare costs, enhance revenue streams, develop personalized medicine, and manage proactive patient care. Among, components and services, analytics services contributed the dominant share of $5.80 billion in 2017 and are expected to be the fastest growing segment throughout the forecast period.

Financial analytics is the most prominent application of big data and contributed a market share of $2.38 billion 2016, due to early application of analytics for improving financial outcomes by analysing performance across revenue cycle management, insurance claims handling and fraud detection. However, clinical analytics is the priority investment for most of the organizations and is thus expected to witness the highest CAGR of 23.77% from 2017 to 2025, to reach the value of $11.35 billion by 2025.

The access to large volumes of medical data has paved way for massive advances in clinical research, development of precision medicine and clinical decision support tools, speedier drug discovery and opened new arrays for managing chronic diseases.

While North America has been the leading market for big data in healthcare due to early adoption of the technology in the region, APAC is anticipated to grow at the fastest rate in the forecast period as development of big data infrastructure, and applications has become a priority field of investment for governments of the emerging economies of India and China. However, challenges must be overcome to improve connectivity and linkage between existing databases is to realize the complete potential of data-driven health care systems. National and international platforms need to be established that can consolidate patient data over time and across different clinics.

Encouraging adoption of healthcare information systems, promoting usage of interoperable shared electronic health records (EHRs) and appropriate security measures to protect sensitive information, adoption of standard clinical terminologies, and building a more collaborative research environment will play a key role in improving the use of data analytics tools among the healthcare organizations. Substantial commitment and collaboration is demanded from all the stakeholders, along with a strong governance framework to ensure effective use of big data.

Key Topics Covered:

Executive Summary

1 Report Scope and Methodology
1.1 Scope of the Report
1.2 Key Objectives
1.3 Research Methodology
1.3.1 Key Data Points From Primary Sources
1.3.2 Key Data Points from Secondary Sources
1.3.3 Data Triangulation
1.3.4 Bottom-Up Approach (Segmental Analysis)
1.3.5 Top-Down Approach (Segmental Analysis)
1.3.6 Assumptions and Limitations
1.3.7 Assumptions and Limitations for Market Estimation and Forecast

2 Market Overview
2.1 Big Data Overview
2.3 Big Data Users in Healthcare

3 Market Dynamics
3.1 Impact Analysis of Market Drivers and Challenges
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities

4 Competitive Landscape
4.1 Market Share Analysis
4.2 Key Developments and Strategies
4.2.1 Product Launches
4.2.2 Mergers and Acquisitions
4.2.3 Collaborations, Partnerships and Agreements

5 Industry Analysis
5.1 Regulatory Scenario
5.2 Consortiums and Associations
5.3 Standards

6 Global Big Data in Healthcare Market by Components and Services
6.1 Overview
6.2 Hardware
6.2.1 Data Storage
6.2.2 Servers
6.2.3 Networking
6.3 Software
6.3.1 Electronic Health Records
6.3.2 Practice Management Software
6.3.3 Revenue Cycle Management Software
6.3.4 Workforce Management Software
6.4 Analytics Services
6.4.1 Descriptive Analytics
6.4.2 Prescriptive Analytics
6.4.3 Predictive Analytics

7 Global Big Data in Healthcare Market by Application
7.1 Overview
7.2 Clincial Data Analytics
7.2.1 Quality Care
7.2.2 Population Health Management
7.2.3 Clinical Decision Support
7.2.4 Precision Medicine
7.2.5 Reporting Compliance
7.3 Financial Analytics
7.3.1 Claims Processing
7.3.2 Revenue Cycle Management Software
7.3.3 Risk Assesment
7.4 Operational Analytics
7.4.1 Workforce Analytics
7.4.2 Supply Chain Analytics

8 Global Big Data in Healthcare Market by Region

9 Company Profiles

• Aetna, Inc.
• Allscripts Healthcare Solutions, Inc.
• Cerner Corporation
• Cognization Technology Solutions Corporation
• Computer Programs and Systems
• DELL
• eClinicalWorks
• Epic Systems
• GE Healthcare
• Health Catalyst
• IBM Corporation
• McKesson Corporation
• MedeAnalytics, Inc.
• Optum
• Oracle Corporation
• Philips Healthcare
• Premier, Inc.
• SAP
• SAS
• Siemens Healthineer
• Tableau Software, Inc.
• Truven Health Analytics
• United Health Group
• Xerox

For more information about this report visit https://www.researchandmarkets.com/research/wbhh4n/11_45_bn_big?w=5

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