Pune, India -- (SBWIRE) -- 03/08/2018 -- Global Healthcare Big Data Analytics Market – Competitive Landscape:

The market of Healthcare Big Data appears to be fiercely competitive & fragmented owing to the presence of numerous matured & small key players accounting for a substantial market share. These market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch. They invest heavily in the R&D to develop a technology that is completely on a different level compared to their competition.

Worldwide Healthcare Big Data Analytics Market – Synopsis:

Big Data Analytics offers truly personalized and cost-effective Big Data management solutions to burgeoning Healthcare Sector to meet a couple of burning issues the sector is witnessing currently including - Big Data management and Healthcare Consumerism among others. Worldwide, the Healthcare organizations are over whelmed with the accretions of big data rising every minute with the connecting, wearable & sensors technology prevailing throughout the healthcare industry.

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The analysis over the good data collected helps these organizations address critical challenges, improving their decision making processes and hence, the collection and storage of a data is equally important in order to perform effective analysis. Besides, rapidly undergoing transformations with the advancements in genetics, biomedical, and information technology Healthcare sector is ushering towards offering effective personalized treatments to the patients, accepting the customer centric approach to create a positive consumer (Patients) experience adding value by enabling them to gain competitive advantage.

The sector very well understands the importance of these processes (Data Collection, Storing & Analysis) therefore adopting the Big Data Analytics extensively. Healthcare sector is evolving rapidly with the Wide adoption of Big Data Analytics is one of the predominant driving factors for the growth of the Healthcare Big Data Analytics market.

Acknowledging the exponential growth the market of Healthcare Big Data Analytics is perceiving currently and the growth prospects the market is demonstrating globally; Market Research Future (MRFR) recently published a brilliant study report giving out the complete market insights up till 2023. In its report MRFR asserts that the global Healthcare Big Data Analytics market of is forecasted to reach US$ 9.5 billion in 2023 growing at a CAGR of ~ 11.5%.

Increasing government initiatives, pressure to curb healthcare costs, new technological advancement like mHealth, Internet of Things (IoT) and wearable are major factors driving the growth of the Healthcare Big Data Analytics market. Government initiatives like release of data from the agencies like FDA and CDC are helping in the research activities. These data's are available publically and helping the researchers to deeply understand the cause of the disease and other causes. Technological advancement talks about the key developments like mHealth, IoT and wearable devices. A study shows that in the US more than 60% of people want wearable devices and more than 30% people want healthcare application to self-monitor their health conditions. Going ahead pressure to curb healthcare costs are also playing very important role in the overall development of big data.

Worldwide Healthcare Big Data Analytics Market - Report Segments:

For the convenience of the report and enhanced understanding; the report is segmented in to 6 key dynamics

By Components: Comprises Hardware & Software.

By Deployment: On-premise & on demand software.

By Applications: Clinical Analytics, Operational Analytic and Financial Analytics,

By Software Types: Software for Practice Management, Electronic Health Record, Revenue Cycle Management, Workforce Management and others.

By End Users: Clinics, Hospital, Diagnostic Centers and other.

By Regions: Europe, North America, APAC and Rest of the World.

Industry/Innovation/Related News:

November 27, 2017 – Optum the health services and analytics arm of UnitedHealthcare announced the $250 million fund the company will offer to an innovative big data and artificial intelligence start-ups; the joint venture will prove to be an opportunity to grow quickly in a crowded, highly competitive market.

October 16, 2017 - The American Medical Association (AMA) announced that partnering with the companies like IBM, Cerner Corporation, Intermountain Healthcare, AMIA, SNOMED and PCORI; AMA is developing integrated big data analytics and clinical informatics platform to offer a common data model delivering the highest quality of coordinated care. The IHMI (Integrated Health Model Initiative) will prioritize a collaborative approach bettering the chronic disease care & population health management.

Worldwide Healthcare Big Data Analytics Market – Geographical Analysis:

North America market dominates the global Healthcare Big Data Analytics market with the significant market share. Factors that drive the regional growth include; early emergence of Healthcare Big Data Analytics, increased focus on big data management and analysis for better healthcare facilities establishment of healthcare policies by federal government, and rapid technological advancement like m health and precision medicines. The market is further expected to reach US$ 4.25 billion growing at a CAGR of 6.1% throughout the forecast period (2017-2023)

Europe & Asia Pacific is the second & third largest market respectively in the global Healthcare Big Data Analytics Market. APAC market is driven by the increasing patient pool coupled with the demand for the healthcare data analytics to manage the healthcare data generated at a large scale. MEA Region (Middle East & Africa) will perceive a steady growth during the forecast period.

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