- In 2015, analytical services generated the largest revenue of $ 4.63 billion by components and services
- Hardware segment generated highest revenue of $775.26 million in 2015 from the North American region because of the incorporation of federal mandatory acts such as HIPAA and HITECH to safeguard protected health information in North America
- North America accounted for largest revenue of $ 1,317.76 million for healthcare software for big data analytics in 2015, by geography
- The global big data in the healthcare market is expected to reach US$ 17,278.13 million by 2022, and the market is projected to grow at a CAGR of ~ 20.69 % during the forecast period 2015-2022.
Big Data in Healthcare Market Players:
- Cerner Corporation (U.S.),
- Dell (U.S..),
- Epic system Corporation (U.S.),
- GE Healthcare(U.K.),
- Mckesson (U.S.),
- Optum (U.S.),
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The global Big Data In Healthcare Market has been segmented on the basis of components and services. The components is segmented into hardware and software type. The hardware segment is further sub-segmented into routers firewalls, virtual private network (VPN), data storage (data centers/storage on premise, storage on cloud/storage on demand), email servers, and wireless & access points. The software type is sub-segmented into electronic health record (EHR) software, practice management software, revenue cycle management software, workforce management software, and others. The software deployment type is sub-segmented into software on premise and software on demand.
Exclusive Summery About Report:
Big data refers to the enormous amount of structured as well as unstructured data, which help organizations to improve their decision making processes. The term big data might seem to refer to huge volume of data, but that is not necessarily the case. It may also refer to the technology services (descriptive, predictive or prescriptive) any organization is utilizing to handle the data sets. Unstructured data refers to the data which does not have a standardized form. Around 80% of the data in the business organizations is unstructured and around 60% of the patient care information is in the unstructured format.
The global big data analytics market in the healthcare sector is at $8.49 billion in 2015 and is expected to grow at a CAGR 20.69 % due to several forces, for instance, government initiatives, pressure to curb healthcare costs, new technological advancement such as mHealth, Internet of Things (IOT), and wearables among others.
With the implementation of innovative technologies such as precision medicine, mHealth, and sensors in the healthcare industry, clinical analytics will play a huge role in the evolution of new forms of treatments to treat with different therapeutics and provide better population and precision health management.
On the basis of analytic service type, the market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. On the basis of analytic service applications, the market is segmented into clinical data analytics, financial analytics, and operational analytics. The clinical data analytics is sub-segmented into quality care, population health management, clinical decision support, precision health, reporting, and compliance. The financial analytics is sub-segmented into claims processing, revenue cycle, management, and risk assessment. The operational analytics is sub-segmented into workforce analytics and supply chain analytics.
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