Healthcare and Pharmaceutical Big Data in Healthcare Industry Analysis by Techno

Big Data in Healthcare Market - Size, Share, Emerging
Trends, Outlook, and Opportunity Analysis, 2018 –
2026
Big Data in Healthcare Market – Global Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2018-2026
Big data in healthcare market revenue is expected to grow at lucrative rate over the forecast period
primarily due to increased digitalization in industrial process. Digitization is transforming industrial
processes, functions, products, and services. Advent of e-commerce has resulted in a sudden spurt
in data being generated by various companies. Also, with decades of research and development
activities across the healthcare industry, there is a large amount of data, referred to as 'big data', piled
up with host organizations. It is therefore essential to ensure optimum utilization of this data for
reducing costs, providing targeted products and services, and avoiding duplication of work. Big data
solution helps simplifying and analyze complex and diverse data, a task that cannot be achieved
using conventional software and hardware. Moreover, such kind of data cannot be managed with
trivial data management tools and methods. Various tools such as Pentaho, Hadoop, Cloudera, and
MongoDB are available in the market for the same. These tools help in data cleaning, mining, and
analyzing of big data. There are also various data visualization tools such as Tableau, Silk, and
Chartio that help in presenting the data in a more convenient and readable form.
Big data helps healthcare companies to mitigate the risk of losing millions of dollars in revenue and
profits through their conventional strategic decision making methods. Globally, big data in healthcare
market scenario can be segmented on the basis of application, analytics type, delivery model, and
end users.
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Key Vendors of Big Data in Healthcare Market:
There are various small and global players offering big data software and services. The small regional
players offer big data services at low costs, which creates a high entry barrier for global players
looking to establish their footprint in emerging markets. The market is highly fragmented, with various
players offering services differentiated in terms of pricing and inclusions. Some of the key companies