Big Data Analytics in Healthcare Market is Reaching a Value of US$ 194.7 Billion by 2032

The global big data analytics in healthcare market is expected to be worth US$ 39.7 billion in fiscal year 2022, up from US$ 33.8 billion in fiscal year 2021. From 2022 to 2032, the market is expected to grow at a 19.2% CAGR, reaching a value of US$ 194.7 billion by the end of 2032.

According to the current situation, the worldwide big data analytics industry accounts for almost 14.2% of the healthcare sector, as per Fact. MR, a market research and competitive intelligence provider.

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Attributed to technological advancements in healthcare sector over recent years, 21.6%  CAGR is projected for utilization of predictive analytics tool in healthcare industry.

Predictive analytics tool in healthcare sector is forecast to surpass US$ 13 billion in 2032. Under the fact that COVID-19 impacted almost every business sector in past two years, a significant role was played by this tool to predict upcoming possibilities on global scale. Therefore, a similar sort of assistance is expected from this tool in upcoming decade.

Owing to the aforementioned fact, healthcare provider will consume almost ~72.8% of overall big data analytics technology sold to healthcare industry. Attributed to this, big data management technology sales in medical management structure will generate notable absolute $ opportunity and grow at CAGR of 23.9% globally.

Competitive Landscape

In order to give better services as well as care solutions to healthcare professionals and institutions, key market players are continually developing and introducing new technological methods to more accurately interpret data obtained from patient information, analyze the growth and containment of various diseases, etc. The development of new platforms to better interpret and analyze data has also been facilitated by the usage of big data analytics with AI.

• In 2021, the U.S.-based healthcare company Swedish Health Services created a platform where healthcare professionals may provide real-time insights on the COVID-19 patient numbers and other factors to monitor the condition of facilities throughout hospitals.
• In 2022, Zephyr AI, a health IT behemoth, raised $18.5 million in seed funding to accelerate precision medicine & drug development via machine learning and large data sets. Lerner Group Investments LLC and M-Cor Holdings led the $18.5 million round, which also included AME Cloud Ventures, Allen Y Chao, BoxGroup, Roger W. Ferguson, MedStar Health, Verily, Steve Oristaglio, as well as other significant investors. This successful investment round demonstrates investors’ combined belief in Zephyr AI’s world-class machine learning and future in big data analytics as a much larger company.

Key Companies Profiled:

• IBM Corporation
• OptumHealth Care Solutions
• Microsoft Corp
• McKesson
• MedeAnalytics
• Verisk Analytics
• Allscripts Healthcare Solutions
• Oracle Corp
• Zephyr Health
• Cisco Systems Inc.
• Infosys
• Swedish Health Services
• SAS Institute
• Alteryx
• SAP SE

Key Segments Covered In the Big Data Analytics in Healthcare Market Report

• By Spender :
  • Healthcare Payer
  • Healthcare Provider
• By Tool :
  • Data Warehouse Analytics
  • Financial Analytics
  • Production Reporting
  • Crm Analytics
  • Predictive Analytics
  • Visual Analytics
  • Risk Management Analytics
  • Supply Chain Analytics
  • Test Analytics
• By Application :
  • Access Clinical Information
  • Access Operational Information
  • Access Transactional Data
  • Other Applications
• By Deployment :
  • Cloud-based
  • On-premises

Key Questions Covered in the Big Data Analytics in Healthcare Market Report

• What is the projected value of the Big Data Analytics in Healthcare factors Industry in 2022?
• At what rate will the global Big Data Analytics in Healthcare factors market size grow until 2032?
• Which are the factors hampering the growth of Big Data Analytics in Healthcare factors?
• Which region is expected to lead in the global Big Data Analytics in Healthcare factors market By 2032?
• Which are the factors driving the Big Data Analytics in Healthcare factors Industry during the forecast period?
• What is the expected market value of the Big Data Analytics in Healthcare factors market during the forecast period?

Regional Analysis For Big Data Analytics in Healthcare Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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