Big Data in Healthcare Market Size to Hit USD 540 Billion by 2035 | Exclusive Report by Roots Analysis

The big data in healthcare market size was valued at USD 67 billion in 2023 and likely to hit over USD 540 billion by 2035, growing at a CAGR of 19.06% during the forecast period 2023 to 2035

The significant growth of big data in the healthcare market can be attributed to several factors. One of the primary drivers is the increasing volume of healthcare data from diverse sources such as patient records, medical imaging, genomic sequencing, and wearable devices. This surge in unstructured healthcare data has created a strong demand for advanced analytics solutions. Additionally, the shift towards value-based care highlights the importance of data-driven decision-making and outcomes measurement. Consequently, there has been an increased demand for big data software solutions, including electronic health records, revenue cycle management software, practice management software, and workforce management software. Moreover, the necessity for real-time data analysis, predictive modeling, and disease spread monitoring, as exemplified during the COVID-19 pandemic, has further amplified the need for these solutions.

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By type of component, hardware is expected to account for the largest share of the global big data in healthcare market

This significant share is mainly attributed to the extensive investments required to establish a robust infrastructure capable of storing, processing, and analyzing vast amounts of healthcare data. Notably, the hardware segment includes critical components, such as servers, storage devices, and networking which are essential for ensuring efficient data handling and enabling advanced analytics to enhance healthcare outcomes. On the other hand, the software segment is anticipated to witness relatively faster growth rate over the forecast period.

By deployment option, cloud-based solutions are expected to account for the largest share of the global big data in healthcare market

The dominant share of this segment can be attributed to the to the fact that cloud-based deployment options enable reduced startup costs, lower data management requirements, and increased agility. This trend is expected to continue, as the cloud-based solutions are expected to store around 49% of the global data by the year 2025.

By application area, operational management is expected to account for the largest share of the global big data in healthcare market

The large share of this segment is attributed to fact that operational data is one of the largest sources of data in the healthcare industry, and given the complexity of the healthcare industry, which involves numerous stakeholders, there is a paramount need for efficient data management and analysis to efficiently drive the operational decision-making within the healthcare sector. On the other hand, clinical data management segment is anticipated to witness relatively faster growth rate over the forecast period.

By healthcare vertical, healthcare services are expected to account for the largest share of the global big data in healthcare market

This significant share is mainly attributed to the fact that healthcare service providers generate a significant amount of data, with an average hospital producing more than 50 petabytes of data every year. On the other hand, big data in healthcare market for medical devices is expected to grow at the fastest pace due to the increasing adoption of connected medical devices and wearable technology.

Big Data in Healthcare Market – Regional Analysis

North America is expected to dominate the big data in healthcare market. This can be attributed to strong government support for big data initiatives in the healthcare sector, particularly in the US, which has accelerated the big data adoption across the healthcare industry.

Asia is a key region for the big data in healthcare market, with countries like China, and India playing a vital role. It is worth highlighting that, in the coming years, owing to the rising prevalence of chronic disorders and the need for personalized medicine, the market in Asia is likely to grow at a relatively higher CAGR as compared to other regions.

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Key Market Players

  • Accenture
  • Akka Technologies
  • ai
  • Amazon Web Services
  • Athena Global Technologies
  • atom Consultancy Services (ACS)
  • Avenga
  • Happiest Minds
  • InData Labs
  • Itransition
  • Kellton
  • Keyrus
  • Lutech
  • Microsoft
  • Nagarro
  • Nous Infosystems
  • NTT data
  • Oracle
  • Orange Mantra
  • Oxagile
  • Scalefocus
  • Softweb Solutions
  • Solix Technologies
  • Spindox
  • Tata Elxsi
  • Teradata
  • Trianz (formerly CBIG Consulting)
  • Trigyn Technologies
  • XenonStack

Big Data in Healthcare Market – Key Segments

Big Data in Healthcare Market, by Component

  • Hardware
  • Software
  • Services

Big Data in Healthcare Market, by Type of Hardware

  • Storage Devices
  • Servers
  • Networking Infrastructure

Big Data in Healthcare Market, by Type of Software

  • Electronic Health Record
  • Revenue Cycle Management Software
  • Practice Management Software
  • Workforce Management Software

Big Data in Healthcare Market, by Type of Service

  • Diagnostic Analytics
  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics

Big Data in Healthcare Market, by Deployment Option

  • Cloud-based Deployment
  • On-premises Deployment

Big Data in Healthcare Market, by Application Area

  • Operational Management
  • Clinical Data Management
  • Financial Management
  • Population Health Management

Big Data in Healthcare Market, by Healthcare Vertical

  • Healthcare Services
  • Pharmaceutical
  • Medical Devices
  • Other Verticals

Big Data in Healthcare Market, by End User

  • Hospitals
  • Health Insurance Agencies
  • Clinics
  • Other End Users

Big Data in Healthcare Market, by Economic Status

  • High Income Countries
    • US
    • Canada
    • Germany
    • UK
    • UAE
    • South Korea
    • France
    • Australia
    • New Zealand
    • Italy
    • Saudi Arabia
    • Nordic Countries
  • Upper-Middle Income Countries
    • China
    • Russia
    • Brazil
    • Japan
    • South Africa
  • Lower-Middle Income Countries
    • India

 

Big Data in Healthcare Market, by Geography

  • North America
  • Europe
  • Asia
  • Middle East and North Africa
  • Latin America
  • Rest of the World

 

Big Data in Healthcare Market, by Leading Players

  • Leading Player 1
  • Leading Player 2
  • Leading Player 3
  • Leading Player 4
  • Leading Player 5

 

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