Latest Market Developments in Big Data Analytics In Healthcare Industry: Forecast 2025–2029
Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.
Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.
How Much Is the Global Big Data Analytics In Healthcare Market Valued at Present and by 2029?
The market size for big data analytics in healthcare has experienced a fast-paced growth in the recent past. It is anticipated to increase from $44.74 billion in 2024 to $52.25 billion in 2025, representing a compound annual growth rate (CAGR) of 16.8%. Factors such as the extensive use of electronic health records, climbing healthcare expenses, the proliferation of wearables and remote monitoring devices, advancements in genomics and personalized medicine, and an upswing in population health management ventures have all contributed to growth in the historical period.
In the upcoming years, the healthcare big data analytics market is predicted to undergo fast-paced expansion. It is projected to burgeon to $97.56 billion in 2029 with a compound annual growth rate (CAGR) of 16.9%. The acceleration during this forecast period can be credited to factors such as an upsurge in insurance fraud detection and claims, growth of telemedicine, incentivized data sharing regulations, the burgeoning demand for compliance analytics and cybersecurity, the rising global aging population, and the burden of chronic diseases. The forecast period will also witness key trends such as the growth of personalized medicine, the incorporation of AI and machine learning, processing of real-time data, data integration and interoperability, along with the adoption of cloud-based analytics.
Download The Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=23640&type=smp
#What Drivers Are Influencing Growth In The Big Data Analytics In Healthcare Market?
The surge in personalized medicine demand is predicted to drive the big data analytics industry in healthcare. Personalized medicines, customized according to a patient’s genetic profile, lifestyle, and environmental factors, are encouraging their market growth by augmenting treatment efficiency and reducing adverse effects. Progressions in genetic studies and the subsequent ability to devise more accurate treatments based on the patient’s unique genetic structure contribute to better patient results. This, in turn, heightens the demand for personalized medicine. Big data analytics play a critical role in personalized medicine, as they mine through extensive patient data to discern patterns and customize treatments, which amplifies therapeutic efficacy and mitigates risks. As per the Personalized Medicine Coalition, a non-profit organization based in the US, the FDA gave the nod to 16 new personalized treatments for patients suffering from rare diseases in 2023, a stark rise from the six approvals in 2022.This increased demand for personalized medicine fuels the expansion of the big data analytics sector in healthcare.
What Are The Main Segments Identified In The Big Data Analytics In Healthcare Market Research?
The big data analytics in healthcaremarket covered in this report is segmented –
1) By Analytics Type: Descriptive, Predictive, Prescriptive, Diagnostic
2) By Deployment: On-Premise, Cloud-Based, Hybrid
3) By Application: Clinical Analytics, Financial Analytics, Operational Analytics, Research Analytics
4) By End-Users: Hospitals And Clinics, Healthcare Payers, Research Organizations, Pharmaceuticals, Biotechnology Companies
Subsegments:
1) By Descriptive: Clinical Data Reporting, Patient Population Health Management, Historical Trend Analysis, Hospital Readmission Analysis, Claims And Billing Analytics
2) By Predictive: Disease Outbreak Prediction, Risk Stratification And Patient Outcome Forecasting, Hospital Resource Utilization Forecasting, Predictive Modeling For Chronic Diseases, Early Diagnosis Support Systems
3) By Prescriptive: Clinical Decision Support Systems (CDSS), Treatment Optimization And Recommendations, Resource Allocation Planning, Personalized Medicine Planning, Operational Workflow Optimization
4) By Diagnostic: Root Cause Analysis Of Treatment Failures, Medical Error Identification, Diagnostic Test Performance Analysis, Anomaly Detection In Patient Records, Identification Of Care Gaps
What Upcoming Trends Are Expected To Impact The Big Data Analytics In Healthcare Market Globally?
Leading corporations in the big data analytics in healthcare sector are channeling their efforts towards delivering technology forward solutions, such as cloud-centric data and analytical environments, to heighten data accessibility, scalability, and instantaneous decision-making. These cloud-centric data and analytical ecosystems represent integrated platforms located in the cloud, allowing healthcare institutions to securely stow, manipulate, and examine vast data volumes from various sources in real time. This process aids in superior decision-making and patient care. For example, Health Catalyst, an American company specializing in data and analytics technology and services, introduced Health Catalyst Ignite in May 2024. This state-of-the-art, cloud-centric data and analytical environment has been crafted specifically for healthcare institutions. Ignite amalgamates cutting-edge technologies, healthcare-centric data models, and intuitive self-service tools, facilitating uncomplicated data exchange, centralized governance, and artificial intelligence-driven insights. This platform equips healthcare teams of varying skill levels to efficiently utilize and examine data, which facilitates more informed clinical, operational, and financial decision-making.
Which Companies Play A Key Role In The Development Of The Big Data Analytics In Healthcare Market?
Major companies operating in the big data analytics in healthcare market are McKesson Corporation, Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, KT Corporation, GE HealthCare Technologies Inc., Infosys Limited, CSL Technologies Limited, Epic Systems Corporation, SAS Institute Inc., Verisk Analytics Inc., Alteryx Inc., Inovalon Holdings LLC, Veradigm Inc., Denodo Technologies Inc., MedeAnalytics Inc., OptumHealth Care Solutions LLC, Zephyr Health Inc.
Get The Full Report Here:
What Are The Key Regional Developments Shaping The Big Data Analytics In Healthcare Market?
North America was the largest region in the big data analytics in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the big data analytics in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Request For A Customized Report:
https://www.thebusinessresearchcompany.com/customise?id=23640&type=smp
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
