PUBLISHER: Allied Market Research | PRODUCT CODE: 1414908
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414908
According to a new report published by Allied Market Research, titled, "Big Data Analytics in Healthcare Market," The big data analytics in healthcare market was valued at $29.7 billion in 2022, and is estimated to reach $134.9 billion by 2032, growing at a CAGR of 16.7% from 2023 to 2032.
Rise in demand for analytics for population health management solution and increase in adoption of cloud analytics among several end users are some of the major factors that drive the global big data analytics in the healthcare market growth. In addition, rise in government initiatives for supporting the adoption of healthcare analytics is expected to fuel the growth of the market. However, security concerns over patient information among end users and slow adoption of healthcare analytic solutions in the underdeveloped regions are the major factors that impede the market growth. Conversely, technological advancements and rise in application areas among various industry verticals are expected to provide lucrative opportunities for the growth of the global market.
The Big data analytics in healthcare market is segmented on the basis of component, deployment mode, application, end user, and region. On the basis of the component, the market is divided into software and service. By deployment mode, it is bifurcated into on-premises and cloud. On the basis of the application, the market is categorized into clinical analytics, financial analytics, and operational analytics. By end user, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In April 2023, Arista Networks Inc. launched new big data analytics in healthcare or NAC service on the opening day of this week's RSA Conference in San Francisco. The vendor is best known as a high-performance network vendor but moved into the security industry when it acquired Awake Security, which brought network detection and response or NDR. Since then, the company has added wireless intrusion prevention, edge threat management, and other services. In January 2023, IQVIA, a leading global provider of advanced analytics, technology solutions and clinical research services to the pharmaceutical and broader life sciences industry, announced the first life sciences industry collaboration with Alibaba Cloud in China. IQVIA and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, will be providing solutions hosted in Mainland China leveraging Salesforce on Alibaba Cloud. This will enable customers with a path to begin using or extending their investments on the best-in-class platform for engaging with their customers.
The market players operating in big data analytics in healthcare market are Cisco Systems, Inc., Dell Inc., EPIC Systems Corporation, Hewlett Packard Enterprise, IBM Corporation, Infosys, Microsoft Corporation, Optum, Inc., Oracle Corporation, SAP SE, and SAS Institute inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the big data analytics in healthcare market globally.
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