Big data analytics is a form of advanced analytics which includes a set of statistical algorithms and predictive models supported by high-performance analytics systems. With the high-powered computing systems, these solutions provide various business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency and enhanced patient care. At present, several healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are highly adopting big data analytics. The surge in the demand for financial analytics in the healthcare sector is a major factor accelerating the growth of the big data analytics in healthcare market, across the world. In the healthcare sector, the demand for financial analytics is on the rise, since it offers healthcare organizations with greater visibility into various factors which propel revenues and minimize the operational cost. In addition to this, the big data analytics uses advanced software technologies, such as specialized billing process and knowledge, to keep the track of claims processed and revenue accumulated from various operations. This decreases the fraud, extra spending and helps in proper usage of resources provided by healthcare service providers. The organizations from healthcare sectors in the recent past are realizing the advantages of cloud solutions and preferring using cloud analytics tools over traditional on-premise BI (business intelligence) solutions. Improved planning, insightful decision-making and predictive analysis have become mainstream needs among business leaders, due to the increasing need for client and customer management. These factors are projected to create lucrative opportunities for the analytics providers during the healthcare big data analytics market forecast period. On contrary, the factors such as inadequate skilled & expert workforce and patient data security problems will likely to hamper market growth.

Moreover, the rising adoption of internet of things (IoT) devices in the healthcare industry is creating immense growth opportunities to the players of healthcare big data analytics market. In the sector, these devices monitor a wide spectrum of patient health parameters, from heart function to blood pressure and produce a huge volume of unorganized data. Big data analytics has the potential to analyze these data sets and help healthcare institutions provide higher-quality and more-effective care to patients.

The global Healthcare Big Data Analytics Market is segregated on the basis of Application as Clinical Analytics, Financial Analytics and Operational Analytics. Based on Component the global Healthcare Big Data Analytics Market is segmented in Software and Services. Based on Deployment the global Healthcare Big Data Analytics Market is segmented in On-Premise and Cloud. Based on End User the global Healthcare Big Data Analytics Market is segmented in Hospitals & Clinics, Finance & Insurance Agencies and Research Organizations.

The global Healthcare Big Data Analytics Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Healthcare Big Data Analytics Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Dell EMC, Epic System Corporation, General Electric Healthcare, Hewlett Packard Enterprise, International Business Machines Corporation and others are among the major players in the global Healthcare Big Data Analytics Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In December 2019, GE Healthcare which offers transformational medical technologies and services which are shaping a new age of patient care acquired Decisio Health.
• In November 2017, Koninklijke Philips N.V. acquired a U.S.-based start-up company named Analytical Informatics Inc. This acquisition helps improve the performance and address the gaps in Philips’s Performance Bridge, an operational performance enhancement solution for healthcare service providers.
• In March 2018, Koninklijke Philips N.V. introduced HealthSuite Insights, an AI-powered healthcare platform, which supports the deployment of big data analytics and artificial intelligence (AI) in the healthcare sector. This platform offers access to advanced analytical abilities, to analyze healthcare data, and provides tools and technologies to build, maintain, deploy and scale AI-based solutions.
• In December 2020, MedArrive introduced a new care management platform which allows healthcare providers and payers to extend services into the home, scaling access to high-quality healthcare and considerably minimizing costs for providers and their patients.

The global Healthcare Big Data Analytics Market has been segmented as below:

Healthcare Big Data Analytics Market, By Application

• Clinical Analytics
• Financial Analytics
• Operational Analytics

Healthcare Big Data Analytics Market, By Component

• Software
• Services

Healthcare Big Data Analytics Market, By Deployment

• On-Premise
• Cloud

Healthcare Big Data Analytics Market, By End User

• Hospitals & Clinics
• Finance & Insurance Agencies
• Research Organizations

Healthcare Big Data Analytics Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Healthcare Big Data Analytics Market, By Company

• Dell EMC
• Epic System Corporation
• General Electric Healthcare
• Hewlett Packard Enterprise
• International Business Machines Corporation
• Microsoft Optum
• Pentaho Corporation
• Splunk Inc.
• SAP AG
• Google Inc.
• EMC Corp.
• Couchbase Inc.
• Cloudera, Inc
• Oracle Corp.
• Teradata Corp.
• Amazon Web Services, Inc.
• Allscripts Healthcare Solutions
• Cerner
• Cotiviti
• Health Catalyst
• Inovalon
  

The report covers the below scope:

• Global Healthcare Big Data Analytics Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Healthcare Big Data Analytics Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Healthcare Big Data Analytics Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Healthcare Big Data Analytics Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Healthcare Big Data Analytics Market share. Major industry players with significant revenue share include Dell EMC, Epic System Corporation, General Electric Healthcare, Hewlett Packard Enterprise, International Business Machines Corporation and others.

Why to Buy this Report:

• Gain detailed insights on the Healthcare Big Data Analytics industry trends
• Find complete analysis on the market status
• Identify the Healthcare Big Data Analytics Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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