According to the report from Zion Market Research, Global Big Data Analytics in healthcare market was valued around USD 19.72 billion in the year 2017 and is predicted to produce revenue of around USD 68.03 billion by 2024, with growing CAGR of around 19.34 percent during 2018 to 2024.
Big data in the healthcare will be constructive for health data of a particular population or individual and probably abet to cure diseases, shun epidemics, and reduce costs, and so on. A bounteous health data from the healthcare sector is accumulated from different sources such as genomic payor records, EHRs (Electronic Health Records), wearable, medical imaging, pharmaceutical research, medical devices, and others. Big data in healthcare and medicine refers to these varied large and compound data, complex to evaluate and handle with the traditional software or hardware. Big data analytics wraps the blend of heterogeneous data, analysis, data quality control, modeling, interpretation, and validation.
In the healthcare, Global Big Data analytics market is principally driven by wide-reaching growing demand for financial analytics in healthcare joined with moribund costs and availability of big data software and services. The big data analytics market is categorized on the basis of the component, deployment type, application, analytics type, and region. The big data analytics market, on the basis of the component, is segmented into the software, hardware, and services. On the basis of the deployment type, the market is divided into On-Demand and On-Premise. The market, on the basis of the analytic type, is segment into descriptive, predictive, and prescriptive. On the basis of the application, the big data analytics market is classified into financial analytics, clinical data analytics, and others. The United States is the leading market by country in global big data analytics in the healthcare market as well as the North American region.