According to the latest report by IMARC Group, titled “Healthcare Big Data Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global healthcare big data analytics market reached a value of US$ 25.9 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 12.5% during 2021-2026.

Big data analytics refers to the structured process of collecting and analyzing significant information by adopting digital technologies, such as correlations, hidden patterns, customer preferences, and market trends. This advanced analytics technique supports predictive models and statistical algorithms. Deployment of big data analytics in the healthcare industry offers several benefits, such as improving patient-based services, detecting the early spread of diseases, gaining new insights into disease mechanisms, monitoring the quality of healthcare institutions, and providing better treatment methods.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Global Healthcare Big Data Analytics Market Trends:

The global market growth is majorly being driven by the increasing need to provide quality medical services. This is further supported by rising healthcare expenditure and widespread adoption of electronic health records (EHR) to effectively allocate resources, manage extensive medical data and maintain operational costs. Additionally, the enhanced focus of healthcare workers toward eliminating the effects of adverse drug events (ADEs) is further contributing to the market growth. Apart from this, big data analytics is increasingly being used amidst the coronavirus disease (COVID-19) outbreak for public health surveillance and disease tracking, which is creating a positive outlook for the market.

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Healthcare Big Data Analytics Market 2021-2026 and Segmentation:

Competitive Landscape with Key Player:

Allscripts Healthcare, LLCCerner CorporationInternational Business Machines Corporation (IBM)COTIVITI, INC.Oracle CorporationHealth CatalystInovalonOptum, Inc.CitiusTech Inc.McKesson CorporationMEDEANALYTICS, INC.SAS Institute Inc.SCIO Health AnalyticsVitreoshealthWipro LimitedCognizant Technology Solutions CorporationSiemens Healthcare Private LimitedHewlett-Packard Inc.Koninklijke Philips N.V.GE Healthcare.

Market Breakup by Analytics Type :

Descriptive AnalyticsPredictive AnalyticsPrescriptive AnalyticsCognitive Analytics

Market Breakup by Component:

ServiceSoftwareHardware

Market Breakup by End-User :

Hospitals and ClinicsFinance and Insurance AgenciesResearch Organizations

Market Breakup by Delivery Model:

On-Premise Delivery ModelOn-Demand Delivery Model

Market Breakup by Application:

Financial AnalyticsClinical AnalyticsOperational AnalyticsOthers

Market Breakup by Region:

North AmericaEuropeAsia PacificMiddle East and AfricaLatin America

Key Highlights of the Report:

Market Performance (2015-2020)Market Outlook (2021- 2026)Porter’s Five Forces AnalysisMarket Drivers and Success FactorsSWOT AnalysisValue ChainComprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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