Big Data Analytics in Healthcare Market Electronic Health Record Software has been the largest reven

From: P&S Market Research
Published: Thu Aug 24 2017

Due to significant growth in big data technologies such as tools for data orchestration, data mining and analysing volumes of structured and unstructured data, adoption of big data in various industries has increased significantly. This has led to rapid increase in demand for big data analytics integration in healthcare services, on the back of which, the global big data analytics in healthcare market is gaining huge traction. As per findings of the research, on-demand deployment generated larger revenue as compared to on-premise software deployment, in the global big data analytics in healthcare market. Further, on the basis of hardware, data storage segment has been the largest contributor to the global market. However, virtual private network segment is expected to witness fastest growth during the forecast period. Among various applications, financial analytics segment was the largest contributor to revenue during 2013 - 2016; however, clinical data analytics is expected to grow at the fastest rate during the forecast period.
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Geographically, North America has been the largest big data analytics in healthcare market; however, Asia-Pacific is expected to witness the fastest growth among all regions, during the forecast period. This anticipated market growth can be attributed to factors such as advancement in big data technologies, growing digitalization, expanding data analytics software industry, and increasing adoption of big data analytics services by healthcare players and providers in the region. Further, due to various initiatives undertaken by the government to integrate big data in healthcare industry, for making more sophisticated and cheap healthcare services available to people, the market in the region is expected to witness the fastest growth during the forecast period.
Factors driving growth in the global big data analytics in healthcare market include significant increase in demand for financial analytics in healthcare, surge in demand for exploring structured and unstructured data present in healthcare industry, decreasing costs and availability of big data software and services, along with amplified adoption of new technologies for data analytics in healthcare business transformations, globally.
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The research states that the global big data analytics in healthcare market is moderately competitive, where data analytics providers are partnering with healthcare providers to increase their market share. The major players are also developing new solutions for healthcare data analytics. Some of the key players operating in the big data analytics in healthcare market are McKesson Corporation, Cognizant, Epic System Corporation, Cerner Corporation, Dell, GE Healthcare, Siemens, Philips, and Xerox.
Most of the major vendors in the global big data analytics in healthcare market are actively focused on enhancing their offerings to meet the surging demand for advanced healthcare solutions. This includes software development, hardware integration, and big data analytics learning.

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