In early 2000s, the word ‘data’ had started becoming more prominent in conversations and this was exactly when some said it is the new crude. Over the period of last two decades, data has seriously revolutionized almost every industry. The importance of data in today’s times is at peak. Meanwhile, on the other hand, the healthcare industry today is worth over 3 trillion USD. The number of people suffering from chronic diseases like hypertension and diabetes are constantly rising. Factors like fast-paced work life along with unhealthy eating habits are contributing to it. Global data-driven healthcare market is witnessing rampant changes, most of them are positive.
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The coronavirus pandemic has been path-breaking event for humanity. While the world was left devastated and is still trying to recover from the setback, almost each one of the industries have felt the heat. Despite a collapse and after taking all the toll, the healthcare sector is growing rapidly. The role of data in the global healthcare industry has been extremely pivotal. The introduction of data has not only streamlined all the current working practices in the healthcare industry but also has improved efficiency. As the data in healthcare industry is high in volume and happens to be extremely sensitive, it indeed needs to be handled delicately and properly. Proper segregation of data by using various technologies has proven extremely helpful and is driving the growth of the Global data-driven healthcare market.
Meanwhile, the threat in the form of cyber-attacks and data breach haunts the growth of the global data-driven healthcare market. The data of various patients is utterly sensitive which makes it more vulnerable to such attacks. Irrespective of couple of hiccups, the integration and adoption of latest technologies like the artificial intelligence, Internet of Things (IoT) is forecasted to take the global data-driven healthcare market to new heights.
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Key Takeaways – Global Data-Driven Healthcare Market
- On the basis of deployment, the cloud segment is forecasted to grow at the fastest rate thanks to its easy installment and accessibility from any part of the globe through internet.
- Blockchain, the technology which happens to be the base of cryptocurrency and Non-fungible tokens (NFTs) is rapidly being adopted across the globe and this is exactly why this segment will witness rapid growth in the global data-driven healthcare market.
- On the basis of end-users, medical research and pharma companies are forecasted to grow at the fastest rate. Invention of new medicines and vaccines, especially post COVID pandemic will immensely the drive the growth of this segment.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global data-driven healthcare market. This is majorly because country of China and India, being the most populated countries on the planet are seeing rapid rise in number of new patients suffering from various ailments.
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Few of the major players operating in the global data-driven healthcare market are listed below:
- Health Catalyst
- Innovaccer Inc.
- SAS Institute
- SCIO Health Analytics
- Siemens Healthcare Private Limited
- Other Market Participants
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Global Data-driven Healthcare Market
By Facility Size
- Small and Medium Sized Facilities
- Large Sized Facilities
By Business Function
- Marketing & Sales
- Machine learning
- Artificial intelligence
- Internet of Things (IoT)
- Advanced Analytics
- Hospitals and Clinics
- Physician Practices
- Skilled Nursing Facilities
- Third-Party Healthcare Administrators
- Health Insurance Brokers
- Health Benefits Consultants
- Life science/ Pharma companies
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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