InsightAce Analytic Pvt. Ltd. has released a report on the Global Big Data in Healthcare Market, predicting significant growth in the market. The report estimates the market to be worth US$22.02 billion in 2021, with a projected value of US$84.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of 16.20% between 2024 and 2031.
Big data in healthcare refers to large and complex datasets, including structured and unstructured information. By analyzing this data, healthcare organizations can uncover patterns and trends to inform future decisions. The market includes various analytical services such as descriptive, prescriptive, and predictive analytics, used to evaluate patient healthcare information and improve financial performance.
The demand for high-quality healthcare is driving market expansion, with a growing amount of unstructured and heterogeneous data in various formats. The market growth is also attributed to big data analytics in the healthcare sector, driven by the need to analyze and manage massive amounts of data from patient biological information and electronic health records.
The COVID-19 pandemic has further increased the need for cutting-edge technologies and advancements in public health, driving the market for big data analytics in healthcare. Advancements in proteomics, epigenomics, transcriptomics, metabolomics, genomics, and pharmacogenomics are expected to drive market expansion and improve patient care during the projection period.
North America is expected to be a significant contributor to the Big Data in Healthcare market, with the region quick to embrace digitalization in the healthcare sector. The region has shown a significant increase in demand for big data analytics for population health management, further strengthening its market position.
The Asia Pacific region is also expected to see significant growth in the Big Data in Healthcare market due to the increasing popularity of the internet and mobile devices. The region has experienced a rise in the use of wearable technology and mobile health apps, driving demand for big data analytics in the healthcare sector.
Major players in the market include eClinicalWorks, DELL, GE Healthcare, Health Catalyst, IBM Corporation, Siemens Healthineers, and others. Recent collaborations and agreements in the market include the unveiling of a big data platform for hospitals in Thailand and a collaboration between Medanets and Enovacom to improve patient data access for nursing personnel.
In conclusion, the Global Big Data in Healthcare Market is poised for significant growth, driven by advancements in technology, increasing demand for high-quality healthcare, and the need for efficient data analysis in the healthcare sector.