U.S (New York) – New research study titled “Big Data Analytics in Healthcare Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Big data analytics in healthcare is an analytic solution that derives insights on patient information and improves treatment techniques by enabling evidence-based disease prevention modeling and diagnostic analysis. The key players, such as IBM Corporation, Cognizant, Health Catalyst, Mede analytics, Inc., and others, provide analytic solutions for healthcare end users through innovative analytical solutions such as finance & risk management, population health management, biometric analysis, value-based analytics, and others.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by improving the population health, integrating performance modeling with financial and predictive care monitoring, and others. In the recent past, big data analytics in healthcare has changed the business and operation process of end users including hospitals & clinics, insurance agencies, and research organizations by providing solutions on workforce planning, performance management, and patient cost analysis, which in turn is expected to augment big data analytics adoption in the healthcare domain.
The global big data analytics in healthcare market is expected to witness a high growth rate during the forecast period, owing to a rise in ICT expenditure by governments in several developed and the developing regions including North America, Europe, and Asia-Pacific. In addition, surge in digitalization of medical procedures and demand for analytic solutions to derive patient-centric insights on treatment procedures are anticipated to fuel the big data analytics in healthcare market growth. However, security concerns over patient information among end users and slow adoption of healthcare analytic solutions in the underdeveloped regions, including Latin America and Africa, obstruct the big data analytics in healthcare market growth.
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The global big data analytics in healthcare market is segmented based on solution, deployment, end user, and geography. Based on solution, it is categorized into software and service. Considering deployment, it is bifurcated into on-premise and cloud deployment. Based on end user, it is divided into hospitals & clinics, finance & insurance agencies, and research organizations. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to hold a major share of the market share due to advancements in IoT and increase in the demand for analytical models on patient information for better service delivery.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth market analysis of big data analytics in healthcare globally, outlining the current trends, key driving factors, and potential areas for product investments.
Key players are analyzed with respect to their primary offerings, recent investments, and future developmental strategies.
A holistic approach of segmentation is carried out through an in-depth market study and discussions with several industry experts globally.
The report provides highlights of the top investment pockets, key impacting factors, and winning strategies for the global big data analytics in the healthcare market.
Market share of the key players is derived from a thorough analysis of respective players’ segment revenues and insights from industry leaders through guided discussions.
The key players profiled in the report are as follows:
Cisco Systems Inc.
Cognizant
Health Catalyst
IBM Corporation
McKesson Corporation
MEDEANALYTICS, Inc.
Microsoft Corportion
Oracle Corporation
SAS Institute Inc.
Vizient, Inc.
KEY MARKET SEGMENTS
BY SOLUTION
Software
Service
BY DEPLOYMENT
On-premise
Cloud
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BY END USER
Hospitals & Clinics
Finance & Insurance Agencies
Research Organization
BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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