Global Big Data in the Healthcare & Pharmaceutical Industry Market Overview:
Big data in healthcare is a term used to describe massive volumes of information created by the adoption of digital technologies that collect patients' records and help in managing hospital performance; otherwise too large and complex for traditional technologies to follow. Increasing government initiatives to promote healthcare information technology systems adoption drives big data in the healthcare & pharmaceutical industry market.
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Increasing Demand Drug Developers are Making Substantial Investments in Big Data and Artificial Intelligence
Market Growth Drivers:
Increasing Government Initiatives to Promote Adoption of Healthcare Information Technology Systems. and Surge in the Adoption of Big Data in the Healthcare and Pharmaceutical Industry
High Challenge for Adoption of Transition from Old Methods of Data Processing to Newer Technologies by Healthcare & Pharmaceutical Industries
Rising Concern regarding Data Privacy and Security or Cyberattacks on Industries
Increasing Demand by Healthcare & Pharmaceutical Industry for Artificial Intelligence (AI), Additive Manufacturing, Blockchain, and Other Industry 4.0 Technologies
Big Data in the Healthcare & Pharmaceutical Industry is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Some of the key players profiled in the report are Allscripts Healthcare Solutions Inc. (United States), Dell EMC (United States), Epic Systems Corporation (United States), General Electric Company (United States), SAS Institute Inc. (United States), International Business Machines Corporation (United States), Innovaccer Inc. (United States), Optum Inc. (United States), ExlService Holdings Inc. (United States) and Health Fidelity Inc. (United States). Considering Market by Deployment Mode , the sub-segment i.e. On-Premise will boost the Big Data in the Healthcare & Pharmaceutical Industry market. Considering Market by Types, the sub-segment i.e. Electronic Health Records (EHR) will boost the Big Data in the Healthcare & Pharmaceutical Industry market. Considering Market by Components Type, the sub-segment i.e. Software will boost the Big Data in the Healthcare & Pharmaceutical Industry market.
Latest Market Insights:
In June 2023 Microsoft's OpenAI-powered app acquires Epic Systems to save doctors time. Epic is a healthcare software company that enables hospitals and other healthcare systems to store, share and access electronic medical records. More than 500,000 doctors and 306 million patients worldwide use Epic's products, and the company has long-standing partnerships with Microsoft and Nuance.
What Can be Explored with the Big Data in the Healthcare & Pharmaceutical Industry Market Study Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Big Data in the Healthcare & Pharmaceutical Industry Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Big Data in the Healthcare & Pharmaceutical Industry
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:The top-down and bottom-up approaches are used to estimate and validate the size of the Global Big Data in the Healthcare & Pharmaceutical Industry market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Big Data in the Healthcare & Pharmaceutical Industry market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Healthcare & Pharmaceutical Industry, Research & Development Centers and Government Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.