Market Overview

Global Big Data Spending in Healthcare Market - Future Growth Prospects

Press Release   •   Jan 18, 2018 05:37 EST

After being a crucial agent of change in many industries, big data is now becoming popular in the global healthcare market. Over the past decade, pharmaceutical organizations have been consolidating years of data into multiple medical records and databases. Pharmaceutical service providers have been digitizing the records of their patients by using automated software. Consolidating information from clinical trials and patient records has also become easy because of the advent of big data services and applications.

Considering the many benefits of big data, healthcare organizations are focusing on increasing their big data spending. In parallel, technological advancements have assisted organizations in collecting and analyzing data from multiple sources, which is benefiting the healthcare industry. These are the findings of a new report added by to its wide repository of research reports. The report, titled ‘Global Big Data Spending in Healthcare Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021,’ states that the use of big data is expected to increase in hospitals, physician offices, laboratories, and other medical care centers.

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The report defines big data and briefs readers about the many applications, specifications, and classifications of big data. The use of big data hardware, software, and services has benefited the healthcare industry in minimizing healthcare costs. Consistently rising healthcare costs have driven the demand for big data solutions. Easy access to patient records, efficiency, quality, and reduction in operational costs are some of the benefits offered by big data to the healthcare industry. Pharmaceutical companies are benefiting from the use of big data services to get easy access to clinical data, lab results, financial data, medical devices, imaging reports, doctor’s notes, and other valuable information.

The research also highlights the hardware, software, and services of big data offered by key manufacturers. As per the findings of the research, key companies in the healthcare market are focusing on improving their research and development avenues so as to introduce new big data services. With this, they aim to maintain their dominance in the global market.

Dell, HP, SAP, IBM, Accenture, Amazon Web Services, Cerner, CareFusion, Cognizant Technologies, Epic Systems, EMC, Explorys, Google, GNS Healthcare, Humedica, InterSystems, NTT Data, Microsoft, McKesson, Oracle, Palantir, PwC, Philips Healthcare, SAS Institute, Siemens, Teradata, UnitedHealth Group, and Sogeti Healthcare are a few of the key companies operating in the big data market in healthcare.

Industry-standard tools such as SWOT analysis are used by analysts to measure the strengths, weaknesses, opportunities, and threats of prominent companies operating in the market. The report further analyzes the feasibility of new projects in the report.

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The developments in technology are encouraging many healthcare companies to use the full potential of big data services. For a competitive analysis, the use of big data services in many regions is evaluated by the analysts. The rising number of new hospitals and laboratories is expected to boost the demand for big data services in the years to come, thus contributing towards the growth of the market.

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