North America Big Data Analytics in Healthcare Market Insights
The North American big data analytics in healthcare market is being driven by healthcare organisations’ growing need to enhance patient outcomes and cut costs.
PORTLAND, PORTLAND, OR, UNITED STATES, May 15, 2023 /EINPresswire.com/ — Big data analytics in healthcare in North America had a market size of $9.36 billion in 2017 and is anticipated to rise to $34.16 billion by 2025, with a CAGR of 17.7% from 2018 to 2025.
One of the main factors that is anticipated to propel the growth of the North American big data analytics in healthcare market is the rise in demand for analytics solutions for population health management, increase in adoption of big data in the healthcare industry, the emerging trend of eHealth, and shifting preference from a pay-for-service model, which financially rewards carers for performing procedures, to a value-based care model, rewarding them based on the health of their patient.
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The North America Big Data Analytics in Healthcare market has been experiencing significant growth in recent years, driven by several key factors. One of the primary drivers is the increasing need for healthcare organizations to improve patient outcomes and reduce costs. Big data analytics provides a way to analyze large amounts of healthcare data to identify patterns and insights that can improve patient care and reduce healthcare costs.
Another important driver is the increasing adoption of electronic health records (EHRs). EHRs generate large amounts of data that can be analyzed using big data analytics tools to provide insights into patient health, treatment efficacy, and healthcare operations. This has led to a growing demand for big data analytics solutions that can process and analyze large amounts of healthcare data.
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In addition, the rise of personalized medicine has fueled the growth of the North America Big Data Analytics in Healthcare market. Personalized medicine involves tailoring healthcare treatments and interventions to individual patients based on their unique characteristics, including genetics, lifestyle, and medical history. Big data analytics provides a way to analyze large amounts of patient data to identify patterns and insights that can inform personalized treatments and interventions.
Finally, the trend towards value-based healthcare has also contributed to the growth of the North America Big Data Analytics in Healthcare market. Value-based healthcare focuses on improving patient outcomes while also reducing healthcare costs. Big data analytics provides a way to analyze healthcare data to identify areas where improvements can be made to both patient outcomes and healthcare costs.
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Some of the key players operating in the North America big data analytics in healthcare industry include All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation.
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