Big Data Analytics in Healthcare Market Expects Us$ 194.7 Billion

According to a report by Fact.MR, the global big data analytics in healthcare market was valued at US$ 16.3 billion in 2020 and is expected to reach US$ 68.6 billion by 2031, with a CAGR of 15.8% during the forecast period (2021-2031). The market growth can be attributed to the increasing adoption of big data analytics in healthcare to improve patient outcomes, reduce costs, and enhance operational efficiency.

The report suggests that the descriptive analytics segment dominated the market in 2020 and is expected to continue to hold a significant market share during the forecast period due to the high demand for descriptive analytics in healthcare to gain insights into patient behavior and preferences. Regionally, North America is expected to hold the largest market share due to the high adoption of big data analytics in healthcare, advanced healthcare infrastructure, and the presence of major players in the region.

The report also highlights some of the key players operating in the global big data analytics in healthcare market, including Allscripts Healthcare Solutions, Inc., Cerner Corporation, Epic Systems Corporation, Health Catalyst, IBM Corporation, McKesson Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute Inc., and SAP SE. These companies are focusing on partnerships, collaborations, and product innovations to improve their market position and expand their product portfolio.

Furthermore, the report suggests that the COVID-19 pandemic has accelerated the adoption of big data analytics in healthcare as healthcare providers seek to gain insights into patient behavior and preferences, monitor disease outbreaks, and track the effectiveness of treatment options. This trend is expected to continue during the forecast period, driving the growth of the big data analytics in healthcare market

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