Big data analytics in healthcare includes the collection of patient’s medical data and analyzing the data for strategic decision-making, improving care delivery, and reducing costs. Huge volumes of data are analyzed at high speeds with the use of appropriate software tools to convert the data into useful information. Big data analytics uses large amounts of patient data to find solutions to various diseases within seconds. It can also give customized solutions for unique health-related problems. Market Industry Reports (MIR) has published a new report titled “Big Data Analytics in Healthcare Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Big Data Analytics in Healthcare Market was estimated to be over US$16 billion in 2019. It is anticipated to grow at a substantial CAGR between 2019 and 2030.
The significant growth of big data analytics in healthcare market can be attributed to benefits such as use of Electronic Health Records (EHRs) for digital information of patients that include medical history, demographics, allergies, laboratory test results, etc. Big data analytics also assists in finding frauds in claim processing, thus helping insurance companies to prevent losses. Moreover, big data analytics also helps hospitals with staff management. Generating real-time alerts regarding the patients’ health conditions for doctors with big data analytics is also contributing significantly toward market growth.
Major Key Players of the Big Data Analytics in Healthcare Market are:Allscripts Healthcare, Cerner Corporation, Dell, Epic System Corporation, GENERAL ELECTRIC COMPANY, Hewlett Packard Enterprise (Hpe), International Business Machines Corporation (IBM), Microsoft, Optum, inc and Oracle, among others.
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