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Big Data Analytics in Healthcare Market to Reach $34.16 Bn in North America by 2025 at 17.7% CAGR: Allied Market Research
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TMCNet:  Big Data Analytics in Healthcare Market to Reach $34.16 Bn in North America by 2025 at 17.7% CAGR: Allied Market Research

[April 22, 2019]

Big Data Analytics in Healthcare Market to Reach $34.16 Bn in North America by 2025 at 17.7% CAGR: Allied Market Research

PORTLAND, Oregon, April 22, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "North America Big Data Analytics in Healthcare Market by Component (Software and Services), Deployment (On-Premise and Cloud), Analytics Type (Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, and Diagnostic Analytics), Application (Clinical Analytics, Financial Analytics, and Operational Analytics), and End User (Hospitals & Clinics, Finance & Insurance Agencies, and Research Organizations): Opportunity Analysis and Industry Forecast, 2018 – 2025." The report provides a detailed analysis of market definition & scope, growing market trends, top investment pockets, and market size & estimations. As per the report, the North America big data analytics in healthcare market was pegged at $9.36 billion in 2017 and is expected to hit $34.16 billion by 2025, registering a CAGR of 17.7% from 2018 to 2025.

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Rise in demand for analytics solutions for population health management, increase in need for business intelligence to optimize health administration & strategy, and surge in adoption of big data among end users in the industry have fueled the growth of North America big data analytics in healthcare market. On the other hand, security concern related to sensitive patients' medical data and lack of skilled staffs have happened to curb the growth to some extent. Nevertheless, growing inclination toward cloud-based analytics solutions, emerging trend in healthcare such as telehealth and innovations in geonomics have created lucrative opportunities in the segment.

Software segment to dominate during the study period-

Based on component, the software segment contributed to more than two-third of the total market in 2017 and is expected to be dominant throughout the forecast period. The growing demand for digitalization in healthcare organizations has driven the need to adopt big data analytcs in healthcare software.

Clinical analytics to rule the roost-

Based on application, the clinical analytics segment accounted for more than half of the total market in 2017 and is anticipated to maintain its top status throughout 2018-2025. Investments in population health and clinical management have spurred the growth in this segment. On the other hand, the financial analytics segment is anticipated to grow at the fastest CAGR of 20.10% during the period.

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U.S. to arrive as the major shareholder-

Based on region, the market is divided across U.S. and Canada. U.S held more than two-third of the total market share in 2017 and is expected to maintain its dominance during the estimate period. Growth in enterprise mobility and widespread wireless connectivity have driven the growth of big data analytics in healthcare in this region.

Major players in the market-

The key players analyzed in the market include Cerner, Epic System Corporation, All Scripts, International Business Machines (IBM) Corporation, Optum, Hewlett Packard Enterprise (HPE), Dell EMC, Oracle Corporation GE Healthcare, and Microsoft. They have adopted a number of stratagems including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to retain a resilient position in the industry.

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Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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SOURCE Allied Market Research

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