Big Data Analytics in Healthcare Market By Solution (Software, Service), Deployment(On-premise, Cloud) and By End User (Hospitals & Clinics, Finance & Insurance Agencies, Research Organization)
Portland, OR -- (SBWIRE) -- 07/14/2017 -- According to a new report by Allied Market Research, titled, Big data Analytics in Healthcare Market by Solution, Deployment, and End User : Global Opportunity Analysis and Industry Forecast, 2016-2023, the global big data analytics in healthcare market was valued at $10,725 million in 2016, and is projected to reach $36,093 million by 2023, growing at a CAGR of 19.1% from 2017 to 2023.
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Technological advancements and extensive use of cloud deployment platform have contributed to the adoption of big data analytics in healthcare market in North America. Moreover, increase in the adoption of big data analytics for healthcare-related applications, such as cost-effective medication, insurance planning with respect to population health, and diagnostic approaches in Asia-Pacific, have encouraged vendors to invest in product development in big data analytics in healthcare market.
North America was the largest market in 2016, owing to growth in demand for predictive analytics on people healthcare management and efficient diagnostic outcomes. In addition, growth in adoption of big data analytics in healthcare solutions in Europe is observed due to surge in the demand for pattern recognition of medical procedures, diseases, and their origins. The trend of strong cloud adoption in these developed regions has accelerated the growth of the big data analytics in healthcare market.
Key Players of Market
The key players profiled in the study are Microsoft Corporation, Oracle Corporation, Cisco Systems Inc., SAS Institute Inc., IBM Corporation, Cognizant, Health Catalyst, Medeanalytics, Inc., McKesson Corporation, and Vizient, Inc. All these players are involved in competitive strategies including analytics innovation, business expansion, and partnership to augment the growth of the global big data analytics in healthcare market.
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TOP Impacting Factors:
- Surge in the Demand for Analytics Solutions for Citizen Health Management
- Increase in the Adoption of Cloud Analytics Among Several End Users
- Growth in Need for Business Intelligence to Optimize Health Administration and Strategy
- Growth in Inclination Toward Cloud-based Analytics Solutions