Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Big Data Spending in Healthcare Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global Big Data Spending in Healthcare Market, By Component (Software, Services), By Deployment (On-premise, Cloud), By Analytics Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Diagnostic Analytics), By Application (Clinical Analytics, Financial Analytics, Operational analytics) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global big data spending in healthcare market is accounted for more than US$ 19 Bn and expected to grow at a significant CAGR of 20.0% during the forecast period and expected to reach a value of more than US$ XX Bn in 2025.
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As per the report, the rising technological advancements in the whole healthcare industry is majorly driving the growth of the global Big Data Spending in Healthcare Market. The massive amount of data, both structured and unstructured, that assists the whole framework in enhancing their decision-making processes is referred to as Big Data.
Also, big data does not necessarily consist of gigantic volumes of data as it may also consist of other technology analytics services such as predictive, descriptive, or prescriptive which any organization consumes to manage their data sets.
Big data increases understanding and awareness by analyzing different sets of data in order to enhance learning outcomes, resultantly assists researchers to make predictions with a good understanding of patterns, owing to which the global Big Data Spending in Healthcare Market has observed a rapid growth in recent few years. In addition, in recent years, enhanced data mining techniques and advances in healthcare IT infrastructure has also played a positive role in driving the global market growth.
Attributing to which, the global Big Data Spending in Healthcare Market is expected to grow positively in the near future.
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Moreover, amid the growing expenses of healthcare, rising prevalence of chronic illness, elevating the older population, and decreasing remittances expense, the investments are prioritized by the hospitals and other healthcare facilities across the globe in order to enhance results and management of resources.
Furthermore, big data analytics have been witnessing a huge demand in various applications of biosciences, especially for genomic sequencing and drug discovery, resultantly accelerating the growth of the global Big Data Spending in Healthcare Market.
In addition to that, big data software and services is affordable in recent times, which is another key factor propelling the growth of the global Big Data Spending in Healthcare Market.
Notably, the rise in the global big data spending in the healthcare market is also sustained by the rise in the attention of healthcare policymakers on developing cost-effective models of healthcare services for worldwide populations.
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MMC study identifies some of the key participating players in the big data spending in healthcare market globally are Abzooba, SAP, Fintellix, Siemens, Sogeti Healthcare, Philips Healthcare, Cerner, IBM, HP, SAS Institute, EMC, Google, Microsoft, PwC, UnitedHealth Group, Teradata, McKesson, Dell, GNS Healthcare, Hewlett Packard Enterprise, Humedica, CareFusion, Palantir, Indix, among others.
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