Market Overview:
The global big data spending in healthcare market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into hardware, software, and IT services. The hardware segment is expected to hold the largest share in terms of revenue in 2018 and is also projected to grow at a higher CAGR during the forecast period as compared to other segments. This can be attributed to increasing demand for big data-enabled healthcare solutions among hospitals and clinics across different regions worldwide. On the basis of application, hospitals.
Product Definition:
Big data spending in healthcare is the investment of resources in order to collect, process and analyze large data sets with the goal of deriving insights that can improve patient care. The importance of big data spending in healthcare is that it can help providers make better decisions about how to treat patients, identify trends and develop new treatments.
Hardware:
Hardware is the part of IT infrastructure that helps in storing and processing data. Hardware is used for implementing software solutions such as Hadoop, which help in managing unstructured data. The growth factor for hardware in big data spending in healthcare market is due to its ability to store large amount of patient’s health-related information along with their medical history.
Software:
Software is the Solution or Service which helps in managing and analyzing data. It can be used for various applications such as fraud detection, predictive analytics, clinical decision support systems, patient record management and population health management among others. In big data spending in healthcare market software is used to manage huge amounts of clinical information generated every day from electronic medical records (EMR), laboratory results to financial transactions.
Software solutions are widely adopted by hospitals.
Application Insights:
The finance and insurance agencies segment dominated the global big data spending in healthcare market, accounting for over 25.0% share of the overall revenue in 2017. This is owing to a rising need for managing large volumes of patient information that are generated through electronic health records (EHRs) and other sources, such as lab tests, radiology images/imaging studies, prescription drugs dispensing systems among others. The growing volume and complexity of data collected from various sources require effective management solutions that can help reduce costs while improving services delivery.
The research organizations segment is expected to witness lucrative growth over the forecast period due to an increasing number of R&D activities related to medical informatics applications including EHRs implementation across various settings within hospitals as well as clinics or primary care centers (PCPs).
Regional Analysis:
North America dominated the market in 2017 owing to the presence of major players, such as IBM Corporation; Google LLC; and Microsoft Corporation. The region is expected to maintain its dominance over the forecast period due to increasing government funding for big data projects and growing adoption of cloud computing.
Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period owing to rising investments by governments in developing economies, such as India and China. In addition, increasing penetration rates for smartphones are expected drive demand for mobile applications that consume significant amounts of data thereby driving growth across this region.
Growth Factors:
- Increasing demand for personalized medicine and precision healthcare
- Growing use of big data analytics in healthcare sector for population health management and clinical decision support
- Proliferation of connected devices and wearables that generate massive amounts of data
- Emergence of new technologies such as artificial intelligence, machine learning, natural language processing etc., that can help make sense of big data and drive better outcomes
- Rising concerns over cybersecurity and privacy issues in the healthcare sector
Scope Of The Report
Report Attributes
Report Details
Report Title
Big Data Spending in Healthcare Market Research Report
By Type
Hardware, Software, IT Services
By Application
Hospitals and Clinics, Finance and Insurance Agencies, Research Organizations
By Companies
IBM, Microsoft, Oracle, SAP, SAS Institute
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global Big Data Spending in Healthcare Market Report Segments:
The global Big Data Spending in Healthcare market is segmented on the basis of:
Types
Hardware, Software, IT Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals and Clinics, Finance and Insurance Agencies, Research Organizations
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- Microsoft
- Oracle
- SAP
- SAS Institute
Highlights of The Big Data Spending in Healthcare Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- IT Services
- By Application:
- Hospitals and Clinics
- Finance and Insurance Agencies
- Research Organizations
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Big Data Spending in Healthcare Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Big data spending in healthcare refers to the growing trend of organizations using big data analytics and machine learning techniques to improve patient care. By understanding patientsu2019 health histories, patterns, and behaviors, hospitals can better predict which patients are at risk for complications and make more informed decisions about treatment. In addition, big data can help doctors diagnose diseases earlier by tracking patient symptoms.
Some of the key players operating in the big data spending in healthcare market are IBM, Microsoft, Oracle, SAP, SAS Institute.
The big data spending in healthcare market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Big Data Spending in Healthcare Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Big Data Spending in Healthcare Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Big Data Spending in Healthcare Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Big Data Spending in Healthcare Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Big Data Spending in Healthcare Market Size & Forecast, 2018-2028
4.5.1 Big Data Spending in Healthcare Market Size and Y-o-Y Growth
4.5.2 Big Data Spending in Healthcare Market Absolute $ Opportunity
Chapter 5 Global Big Data Spending in Healthcare Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Big Data Spending in Healthcare Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 IT Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Big Data Spending in Healthcare Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Big Data Spending in Healthcare Market Size Forecast by Applications
6.2.1 Hospitals and Clinics
6.2.2 Finance and Insurance Agencies
6.2.3 Research Organizations
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Big Data Spending in Healthcare Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Big Data Spending in Healthcare Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Big Data Spending in Healthcare Analysis and Forecast
9.1 Introduction
9.2 North America Big Data Spending in Healthcare Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Big Data Spending in Healthcare Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 IT Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Big Data Spending in Healthcare Market Size Forecast by Applications
9.10.1 Hospitals and Clinics
9.10.2 Finance and Insurance Agencies
9.10.3 Research Organizations
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Big Data Spending in Healthcare Analysis and Forecast
10.1 Introduction
10.2 Europe Big Data Spending in Healthcare Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Big Data Spending in Healthcare Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 IT Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Big Data Spending in Healthcare Market Size Forecast by Applications
10.10.1 Hospitals and Clinics
10.10.2 Finance and Insurance Agencies
10.10.3 Research Organizations
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Big Data Spending in Healthcare Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Big Data Spending in Healthcare Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Big Data Spending in Healthcare Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 IT Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Big Data Spending in Healthcare Market Size Forecast by Applications
11.10.1 Hospitals and Clinics
11.10.2 Finance and Insurance Agencies
11.10.3 Research Organizations
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Big Data Spending in Healthcare Analysis and Forecast
12.1 Introduction
12.2 Latin America Big Data Spending in Healthcare Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Big Data Spending in Healthcare Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 IT Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Big Data Spending in Healthcare Market Size Forecast by Applications
12.10.1 Hospitals and Clinics
12.10.2 Finance and Insurance Agencies
12.10.3 Research Organizations
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Big Data Spending in Healthcare Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Big Data Spending in Healthcare Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Big Data Spending in Healthcare Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 IT Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Big Data Spending in Healthcare Market Size Forecast by Applications
13.10.1 Hospitals and Clinics
13.10.2 Finance and Insurance Agencies
13.10.3 Research Organizations
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Big Data Spending in Healthcare Market: Competitive Dashboard
14.2 Global Big Data Spending in Healthcare Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Microsoft
14.3.3 Oracle
14.3.4 SAP
14.3.5 SAS Institute
