Personalization of Patient Care and Effective Claims Processing Can Boost the Global Big Data Analytics in the Healthcare Sector by 2022
A market study by BIS Research, titled, "Global Big Data Analytics in the Healthcare Sector - Estimation & Forecast (2014-2022)" has acknowledged the implementation of Big Data Analytics technology in the healthcare sector.
Bloomington, MN, January 22, 2016 (Newswire.com) - Big Data in the healthcare sector holds immense potential for improving the quality care for patients to enhance population health management to ameliorate the efficiency of the healthcare providers. Recently, the NYU School of Medicine announced a new project “healthcare by numbers” that requires students to understand population health management through Big Data Analytics to meet the future needs of the evolving healthcare sector. The project is financed by American Medical Association in order to bridge the gap between technology and healthcare.
A market study by BIS Research, titled, “Global Big Data Analytics in the Healthcare Sector – Estimation & Forecast (2014-2022)” has acknowledged the implementation of Big Data Analytics technology in the healthcare sector. With healthcare industry generating zettabytes of data, Big Data Analytics aim to improve the overall healthcare ecosystem. The report draws inferences that with new technological advancements like mHealth and Internet of Things (IOT), more data will become available at a higher velocity. The analysis of such data will provide actionable insights to avoid inefficiencies and enhance healthcare outcomes for patients.
The analysts at BIS Research have estimated that the Global Big Data Analytics in the healthcare sector will increase to $34.27 billion in 2022.
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The analysts at BIS Research have estimated that the Global Big Data Analytics in the healthcare sector will increase to $34.27 billion in 2022.The market is foreseen to have high growth potential by the end of 2022 in order to curb the increasing healthcare expenses and government initiatives for the implementation of Big Data in the healthcare sector. The study also incorporates Porter’s Five Forces Analysis to provide an in-depth analysis of the market. The report aims to help decision makers take sound investment related decisions by providing substantial answers to the major aspects of the industry including market drivers and opportunities, important hardware and software components of Big Data in the healthcare sector, analytics services and its applications, and geographical analysis to understand key factors and various regulatory reforms required for the industry.
However the market currently is facing some major challenges. Issues like data collection and privacy, interoperability and regulatory compliances are impacting the healthcare providers for effective Big Data Analytics implementation. But these issues are deemed as temporary and the benefits of the Big Data Analytics in the healthcare sector will not be ignored for too long and opportunities like precision medicine and value based care are awaiting the healthcare industry. The report also includes profiles of Optum, Cerner, McKesson, Dell, Cognizant and GE Healthcare among others in the market players section. The report answers all the major aspects which include market dynamics and breakthroughs which may lead to the dominance of Big Data Analytics technology in the healthcare sector.
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