The different driving factors for the big data in healthcare market include the growing volume of healthcare data arising from various sources including patient health records, medical imaging, genomic sequencing, pharmaceutical research, wearables, and medical devices. Our estimates suggest that currently, the maximum revenue generated in this domain is likely to be driven by the hardware segment; this trend is likely to change in the foreseen future, as software is expected to lead the market in future.

The global big data in healthcare market size is estimated to grow from USD 78 billion in 2024 to USD 540 billion by 2035, representing a CAGR of 19.20% during the forecast period till 2035.

Based on primary and secondary research, our estimates suggest that the hardware segment of the big data in healthcare market is likely to be driven by storage devices. This can be attributed to the increasing volume of data generated in the healthcare industry, including electronic health records and medical imaging.

In terms of type of service segment, the big data in healthcare market is likely to be driven by diagnostic analytics. Furthermore, most of the market share is captured by electronic health records, followed by revenue cycle management software, and practice management software. This trend is unlikely to change in the foreseeable future. Presently, our estimates suggest that initiatives focused on operational management are likely to drive the current big data in healthcare market. This can be attributed to the fact that operational data is one of the largest sources of data in the healthcare industry and given the complexity of the healthcare industry. It is important to highlight that low-middle income countries are expected to grow with the fastest CAGR in the near future.

According to our primary and secondary research presently, the majority of the big data market in healthcare is occupied by hospitals, followed by health insurance agencies. Further, this trend is unlikely to change in the foreseeable future as well.  It is worth  highlighting that  the big data in healthcare market is dominated by North America and this trend is unlikely to change in the foreseeable future. On the other hand, the big data in healthcare market in Asia is expected to grow at a fastest pace, during the forecast period.

Big Data in Healthcar Market Segmentations Distribution by:

Component

·         Hardware (Storage Devices, Servers, and Networking Infrastructure)

·         Software (Electronic Health Record, Practice Management Software, Revenue Cycle Management Software, and Workforce Management Software)

·         Services (Descriptive Analytics, Diagnostic Analytics, Predictive Analytics, and Prescriptive Analytics)

Application Area

·         Clinical Data Management

·         Financial Management

·         Operational Management

·         Population Health Management

Healthcare Vertical

·         Healthcare Services

·         Medical Devices

·         Pharmaceuticals

·         Other Verticals

End User

·         Clinics

·         Health Insurance Agencies

·         Hospitals

·         Other End Users

Geography

·         North America

·         Europe

·         Asia

·         Latin America

·         Middle East and North Africa

·         Rest of the World

Leading Companies in the Big Data in Healthcare Market: Accenture, Akka Technologies, Altamira.ai, Amazon Web Services. Athena Global Technologies, atom Consultancy Services (ACS), Avenga, Happiest Minds, InData Labs, Itransition, Kellton, Keyrus, Lutech, Microsoft, Nagarro, Nous Infosystems, NTT data, Oracle, Orange Mantra, Oxagile, Scalefocus, Softweb Solutions, Solix Technologies, Spindox, Tata Elxsi, Teradata, Trianz (formerly CBIG Consulting), Trigyn Technologies, and XenonStack.

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