The global Big Data Healthcare Market Growth Accelerated by Need for Improving Patient Outcomes

Big data in healthcare refers to large and complex datasets that are difficult to process and analyze using traditional database and software techniques. Various products associated with the big data healthcare market include services, hardware, software, and analytics solutions. These solutions help healthcare providers to improve population health management, precision medicine, patient outcomes, and clinical decision-making.

The global Big Data Healthcare Market is estimated to be valued at US$ 52,629.8 Mn in 2023 and is expected to exhibit a CAGR of 25.30% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing need of healthcare organizations to improve patient outcomes is accelerating the growth of the big data healthcare market. Big data analytics enables healthcare providers to gather deeper insights from medical imaging records, electronic health records, insurance claims, and sensor data collected from wearable/mobile health devices. This helps doctors and clinicians to provide personalized treatment and predict the risk of diseases more precisely based on previous patient cases. Big data solutions also aid in reducing hospital readmissions and improving quality of care by recognizing patterns and making evidence-based treatment decisions. This trend is expected to continue during the forecast period.

Segment Analysis
The global big data healthcare market is segmented on the basis of component, deployment, analytics type, application, and end user. The services subsegment is expected to dominate the market over the forecast period. This is because services such as support and maintenance are required continuously to ensure effective functioning of software and deployments.

Key Takeaways
The global big data healthcare market is expected to witness high growth over the forecast period. The global Big Data Healthcare Market is estimated to be valued at US$ 52,629.8 Mn in 2023 and is expected to exhibit a CAGR of 25.30% over the forecast period 2023-2030.


Regional analysis
North America is expected to continue dominating the global big data healthcare market during the forecast period. Presence of advanced healthcare infrastructure and growing adoption of big data analytics by healthcare agencies and institutions to reduce costs and improve patient outcomes are driving the market in the region.

Key players related content

Key players operating in the big data healthcare market are Innovaccer Inc., SAS Institute Inc., Optum Inc., Oracle Corporation, Dell Technologies Inc., Epic Systems Corporation, GE Healthcare (GE Company), Cerner Corporation, Allscripts Healthcare Solutions Inc., and International Business Machines Corporation (IBM), among others. Innovaccer Inc. offers a data activation platform to help providers collect, integrate and activate healthcare data. 

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