Big data analytics in healthcare is the application of big data technology and methods for increasing efficiency of the healthcare sector. Global big data analytics in healthcare market is estimated to grow with 19.39% CAGR during the year 2019 – 2027. The market will grow to $96,844 Million by 2027. The base year considered for the study is 2018, and the estimated period is between 2019 and 2027. The most important driver propagating market growth has been the government regulations which are promoting big data.
The growing adoption of IoT enabled health wearables, growth in the adoption of cloud analytics, government regulations promoting big data, and the technological advancement are majorly driving the growth of the market. The restraints and challenges for big data analytics in healthcare market have been the lack of interoperability among big data sources, dealing with a large volume of unstructured data, privacy concerns and lack of skilled labor. The main challenge for the market growth is that of the privacy concerns. The process of collecting healthcare big data and then securing that information is one of the key issues that are faced by healthcare organizations and data analytics industries.
The report on global big data analytics in healthcare includes segmentation on the basis of geographical regions of Asia Pacific, North America, Europe, and the remaining countries banding together to form the Rest of World regional segment.
Europe is expected to be the fastest growing region in the global big data analytics in healthcare by the end of the forecasting period. The big data analytics in the healthcare technology market is expected to gain momentum in Europe mainly due to the humongous numbers of initiative programs. The region is also anticipated to grow at such rate in near future, owing to the upsurge in the adoption of big data analytics in healthcare solutions in the region.
Aetna, Inc., Philips Healthcare, Computer Programs and Systems, SAS, Tableau Software, Inc., Oracle Corporation, Dell, Health Catalyst, GE Healthcare, eClinicalWorks, Allscripts Healthcare Solutions, Inc., Cerner Corporation, Cognizant Technology Solutions Corporation, Epic Systems, Xerox, IBM Corporation, Premier, Inc., Siemens Healthineers, McKesson Corporation, and SAP are the major compamies operating in the market.