22 February 2021
Visiongain has published a new report on Big Data Analytics in Healthcare Market Report to 2031. Profiles of Leading Big Data Analytics in Healthcare Market players, Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Big Data Analytics in Healthcare Market Report Market was valued at US$ XXbillion in 2021 and is projected to reach at a market value of US$XX billion by 2031. The global Big Data Analytics in Healthcare market has been growing considerably owing to the rising technological advancement, growing investment, and cohesive government policies. Further, the rising adoption of cloud technology in healthcare is expected to drive the market. Cohesive government policies will further boost the growth of the global Big Data Analytics in Healthcare market. However, the high cost of Big Data Analytics in Healthcare and security concern will act as a barrier to the growth of the market.
COVID-19 Impact on the Global Big Data Analytics in Healthcare Market
The global Big Data Analytics in Healthcare market was growing considerably before the COVID-19 pandemic. However, the sudden outbreak shook the global economy since January 2021. Initially, the COVID-19 emerged in Wuhan city of China in December 2019. Within few months, the epidemic turned into global pandemic with positive cases rising across the globe. According to worldometers, over 45 million positive cases of COVID-19 were registered till 30thOctober 2020, around the globe with around 1.2 million fatalities.
Rising investment/funding in the big data analytics in healthcare market
Globally, there is significant rise in the funding and investment in big data startups in healthcare domain. For instance, Flatiron Health bagged $313 million till 2020, owing to the strong portfolio of product and services that gathers and analyzes data on cancer treatments and sells software based on those insights.
Technological advancement and innovation in big data analytics in healthcare
Big data analytics technologies are revolutionizing the healthcare domain coupled with enhancing multiple areas of care, from patient care to precision medicine. Additionally, health tracking through innovative big data analytical software and services are also creating significant scope for the market. These algorithms have increased the efficiency treatment and reduced the overall cost of healthcare. Advent of Internet of Things (IoT), machine learning and Artificial Intelligence in healthcare domain created growth opportunities for the healthcare domain.
New Entrants in Big data analytics in healthcare to create scope
Various new entrants are gaining traction in healthcare sector owing to innovative technologies and rising funding from government and private ventures. For instance, iCarbonX aims to build an ecosystem of digital life based on a combination of biological, behavioral and psychological data of individuals, through the Internet and AI.iCarbonX is contributing significantly into the post-genomic era by creating the platform that amalgamates life science and cloud technology.
Rising healthcare spending and growing disposable income
Emerging economies such as China, India, Brazil, Korea, among other economies are contributing significantly into the growth of the global Big Data Analytics in Healthcare market. The healthcare expenditure in the emerging economies is increasing significantly creating massive scope for the Big Data Analytics in Healthcare market. The rising disposable income is further boosting the scope for the global big data analytics market.
Visiongain report covers detailed competitive landscape which includes overview of key players operating, extensive product portfolios, recent developments, among others. The key players contributing into the global Big Data Analytics in Healthcare market include All scripts, Cerner, Dell EMC, Epic System Corporation, General Electric Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, Oracle Corporation, Mu Sigma Analytics, Fractal Analytics, among others. The global Big Data Analytics in Healthcare market players adopt various strategies to milk the available opportunities in the market. Mergers & acquisitions, partnerships, collaborations, investments, new product launches, new product developments,among others, are the key strategies adopted by the market players. For instance, On 08thJune 2020, Wipro and IBM collaborated to help clients accelerate their cloud journey. The launch of Wipro IBM Novus Lounge in India will promote innovation and build industry solutions leveraging Cloud, AI, ML (Machine Learning) and IoT.
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