HealthcareMar 8, 2023

Healthcare Big Data Analytics Market

By Segment, By Region, And Segment Forecasts, 2018 – 2030

Vertical: HealthcareBase Year: 202112 Sections

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Executive Summary

Healthcare Big Data Analytics Market — Snapshot

Market Size (2018)
2018
$23.32B
Projected (2030)
2030
$287.78B
CAGR (2018–2030)
23.3%
23.3%
Key Players
102+

Healthcare big data analytics is the process of examining vast amounts of data related to healthcare to gain insights that can aid organizations in enhancing quality and efficiency. Businesses can use healthcare big data analytics to make wise choices in a variety of areas, including customer segmentation, treatment, marketing, operations management, product development, etc. The growth of the healthcare big data analytics market is attributed to the increasing adoption of Electronic Health Records (EHRs), the rise in demand for data analytics in healthcare, and the increasing focus on value-based care. However, the data privacy concerns, and the high cost of analytics solutions might hamper the market's growth in the forecast period.

Key Insight

The Healthcare Big Data Analytics Market market is projected to grow at a CAGR of 23.3% from 2018 to 2030.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

Geographic Coverage: This analysis covers 4 regions: North America, Europe, Asia Pacific, Rest of the World.
Market Segmentation: The market is analyzed across 4 segments: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Others. Forecasts are provided for each segment from 2018 to 2030.
Competitive Landscape: 102 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Healthcare Big Data Analytics Market — Growth Trajectory

Healthcare big data analytics is a type of advanced analytics that consists of a set of statistical algorithms and predictive models supported by high-performance analytics systems. With high-powered computing systems, these solutions offer several business benefits in the healthcare industry such as effective marketing, new revenue opportunities, better operational efficiency, and improved patient care. At present, various healthcare organizations ranging from multi-provider groups and single-physician offices to large hospital networks are increasingly adopting big data analytics. Factors, such as the sudden emphasis on improved quality of healthcare, reduced length-of-stay at hospitals, lower costs of healthcare & medicine, and fraud detection, are some of the primary needs of the payers of this big data technology.

Healthcare Big Data Analytics Market — Growth Trajectory

Descriptive Analytics

Predictive Analytics

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

By Type is broken down into: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Others.
By Product is broken down into: Hardware, Software, Service.
By Mode of Deployment is broken down into: On-Premise Model, Cloud-Based Model.
By Application is broken down into: Financial Analytics, Clinical Analytics, Operational & Administrative Analytics, Population Health Analytics, By Application_Others.
By End User is broken down into: Healthcare Provider, Pharmaceutical Industry, Biotechnology Industry, Academic Organizations, By End User_Others.

Geographic Analysis

Regional market breakdown

North America North America market size reached $9.30B in 2018 and is projected to reach $125.44B by 2030, growing at a CAGR of 24.2%.
Europe Europe market size reached $6.86B in 2018 and is projected to reach $75.17B by 2030, growing at a CAGR of 22.1%.

Asia Pacific Asia Pacific market size reached $4.15B in 2018 and is projected to reach $62.62B by 2030, growing at a CAGR of 25.4%.
Rest of the World Rest of the World market size reached $3.02B in 2018 and is projected to reach $24.55B by 2030, growing at a CAGR of 19.1%.

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Research Methodology

Healthcare Big Data Analytics Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

Base Year
2021
Historical Period
2018 – 2021
Forecast Period
2021 – 2030
Primary Interviews
150+

Research Process

Historical data (2018–2021) and forecast period (2021–2030)

Problem Definition

Market scoping
Objective setting
Framework design

Secondary Research

Literature review
Data mining
Trend analysis

Primary Research

Expert interviews
Field visits
Surveys

Data Analysis

Quantitative modeling
Statistical testing
Validation

Insights & Reporting

Synthesis
Recommendations
Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)

Forecast (modelled)

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Competitive Landscape & Porter's Five Forces

Healthcare Big Data Analytics Market — Competitive Analysis

Threat of New Entrants

The threat of new entrants is high for the global healthcare data analytics market. This is because big data analytics is a new and upcoming field, especially in the healthcare industry. New players are seen entering the lucrative market and driving significant innovations. Some of the leading startups in the healthcare big data analytics include Sema4 (US) with USD 791 million funding, Exscientia (US) with USD 474.4 million funding, and Insilico Medicine (China) with USD 401.3 million in funding. The threat is expected to increase further in the coming years.

Bargaining Power of Suppliers

The bargaining power of suppliers is a crucial factor in the market and determines the industry's strength. The concentration of suppliers is currently moderate in the global market. These suppliers offer services to a number of customers worldwide. The high cost of setting up healthcare data analytics capabilities improves the power of supplier as then can customize and offer services according to customer needs. Thus, the overall bargaining power of suppliers in the global healthcare big data analytics market is expected to be moderate to high during the study period.

Threat of Substitutes

The threat of substitutes in the global healthcare big data analytics market is expected to be low during the forecast period. The advantages and capabilities that healthcare big data analytics provides to healthcare end users cannot be substituted with anything else. It aids the institutes to provide efficient care and function better. Hence, the threat of substitutes is low for the global healthcare big data analytics market.

Bargaining Power of Buyers

The major buyers in the market are pharmaceutical companies, hospitals & clinics, payers, CROs, and clinical labs. Moreover, these buyers currently have limited options for buying their effective services/solutions from service providers. Therefore, the high concentration of buyers and the moderate number of suppliers are decreasing the bargaining power of buyers to some extent. Thus, the bargaining power of buyers is expected to be low-to-moderate in the global healthcare big data analytics market during the forecast period.

Intensity of Rivalry

The global healthcare big data analytics market is characterized by the presence of an increasing number of service providers offering various solutions & services. These service providers provide customized solutions and services to their customers to cater their specific needs. The demand for data analytics in healthcare is gradually increasing, consequently accelerating the competition among the market players. Moreover, in the COVID-19 pandemic as well as the post-COVID phase, the demand for such services has surged, and the market is estimated to grow rapidly in the coming years. Therefore, the intensity of rivalry in the global healthcare big data analytics market is expected to be high during the forecast period.

Quantitative Analysis

Regional Breakdown

Regional market breakdown for Healthcare Big Data Analytics Market.

Regional Market Size (USD Mn)

Market estimates by geography (2030)

USD Mn

InsightNorth America leads with $125.44B by 2030, while Asia Pacific is projected to grow fastest at a 25.4% CAGR.

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Regional Market Data

REGION	2018	2021	2030	CAGR	SHARE
North America	$9.30B	$28.79B	$125.44B	24.2%	44%
Europe	$6.86B	$19.16B	$75.17B	22.1%	26%
Asia Pacific	$4.15B	$13.63B	$62.62B	25.4%	22%
Rest of the World	$3.02B	$7.43B	$24.55B	19.1%	9%
Total	$23.32B	$69.00B	$287.78B	23.3%	100%

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Segment Revenue (2030)

Descriptive Analytics

Predictive Analytics

Prescriptive Analytics

Others

0326896537898066130755

Descriptive Analytics41%
Predictive Analytics34%
Prescriptive Analytics16%
Others9%

Total Market Size

$287.78B

Market by Segment (2030)

APPLICATION	REVENUE ($B)	GROWTH RATE	MARKET PENETRATION
Descriptive Analytics	$118.87B	23.3%	81%
Predictive Analytics	$97.66B	23.3%	85%
Prescriptive Analytics	$46.25B	23.3%	40%
Others	$25.00B	23.3%	53%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Healthcare Big Data Analytics Market — Key Findings

Analytical insights on Healthcare Big Data Analytics Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Healthcare Big Data Analytics Market market is projected to reach $287.78B by 2030, growing at 23.3% CAGR. The Descriptive Analytics segment holds the largest share.

Market Dynamics

The global healthcare big data analytics market is emerging due to factors like the increasing adoption of Electronic Health Records (EHRs) and rising demand for data analytics in healthcare. Additionally, increasing focus on value-based care is expected to provide growth opportunities for the market in the future. However, healthcare data privacy concerns, and high cost of analytics solutions might hamper the market's growth in the forecast period.

Market Drivers

An EHR is a digital version of all the information in a provider's paper chart: medical history, diagnosis, prescriptions, immunization dates, allergies, lab reports, and doctor's notes. These contain standard medical and clinical data from a single provider's office and are mostly utilized by doctors for diagnosis and treatment. In addition, concerning the point of care, healthcare information technology encompasses EHR. It improves the quality and coordination of medical care services. Moreover, patient and healthcare information are digitally stored in EHRs, which may subsequently be shared with healthcare practitioners to discover the best care for the patient. The implementation of EHR leads to several benefits for patients and healthcare practitioners, such as better health care quality/reduced errors, improved diagnoses and treatments, faster healthcare decisions, increased information exchange among health care workers, decreases in expense & time, and enhancement of the safety culture among primary care providers. According to the Centers for Disease Control and Prevention (CDC) in 2019, 89.9% of in-office physicians were using EMR/EHR systems in the US. Similarly, most EU countries use EHR systems whith countries like Denmark and Netherlands showing almost a 100% usage of EHR systems.

The rapid adoption of EHRs is leading to the generation of large amounts of data where big data analytics can be applied to gain valuable insights. Big data analytics can be used for the extracting, cleansing, and analsing pateint data in order to provide better pateint care. For instance, big data naltics can be used to identify pattens of disease prognosis that can help in early detection of the disease. Similarly, it can be used in nursing homes to analyze long term patient data and cater efficient treatment plans. Apart from these, big data analytics can be employed to reduce medical errors, track mass spread of disease, predicting cost of treatment, efficient staff management, and cost reductions. Hence, the increasing adoption of EHR capabilities is leading to generation of large data points that can be analyzed using big data analytics increasing its demand.

Market Opportunities

As time progresses, there has been a shift towards value-based care from volume-based care which can be a potential growth opportunity for the global big data analytics market. Value-based care referred to the aim of providing value to the patients in terms of health outcomes per unt cost spent. Factors such as the stakeholders’ demand for value, unsustainable prices, and government policies for new payment approaches are driving this shift. For instance, according to the e Department of Health & Human Services (HHS) US, up to 50% of Medicare benefits was shifted to value-based payment models by end of 2018.

Big data analytics can help in the effective analysis of patient data enabling providers in better decision-making about the patient’s diagnosis and treatment. It also aids to providing preventive care to patients, improving patient outcomes. It can also be used to analyse the patient genome in order to provide personalised treatment to further improve patient outcomes. The effective treatment provided also leads to cost reductions for both the providers and the patients. Hence, the shift towards value-based care is an important growth opportunity for the market.

Market Restraints

The possibility of data breaches and concerns regarding data privacy is hampering growth of the healthcare big data analytics market. Medical professionals who access the digital patient data cannot share information regarding the patient with anyone who is not directly related to the patient’s treatment. Hence, the maintenance of data confidentiality is important.

Recent cases of data breaches have led to the damage of trust of the end users on the products. For instance, according to the Healthcare Data Breach Report 2020, over 500 healthcare data records were breached in 2020 which was the highest recorded number of data breaches up till 2020. Additionally, surveys show that a large portion of patients are fearful of data breaches and privacy concerns for which they do not opt for digital healthcare services. Therefore, such data privacy and safekeeping concerns may negatively impact market growth.

Strategic Outlook and Future Directions

The demand for big data analytics capabilities had increased during the COVID-19 pandemic, positively impacting the market growth. The capabilities of big data analytics of predictive analysis and prescriptive analysis had been rigorously employed during the pandemic. Predictive models created using big data analytics were used to predict subsequent waves of viral spread in different regions during the pandemic. The demand was further boosted by the increased adoption of EHR systems by healthcare providers where big data analytics is employed. Hence, the COVID-19 pandemic had positively impacted on the demand for healthcare big data analytics solutions.

As the Coronavirus outbreak continues, the majority of pharmaceutical companies experienced significant losses.. As a result of the COVID-19 crisis and the subsequent global disruptions to supply and demand, world GDP fell sharply during 2020. According to the World Bank, there was a 4.3% decrease in global GDP in 2020. Moreover, every region was subjected to considerable growth downgrades; the US by 3.6%, Euro area by 3.6%, the Middle East & North Africa by 5.0%, Europe & Central Asia by 2.9%, South Asia will contract by 6.7%, and Latin America and the Caribbean by 6.9%. However, East Asia & the Pacific region was estimated to grow by 0.9%. The COVID-19 has adversely affected the manufacturing, supply chain, and distribution channel due to decreased demand and supply, delay, availability of labor, and trade barriers in place. In such situations, the use of data analytics had been boosted due to its capabilities such as descriptive, diagnostic, predictive, and prescriptive analysis which aided the stakeholders in efficient decision-making and cost reductions. It allowed providers to provide treatment more effectively and manage supply chains accordingly. These downturns are expected to reverse back as the restrictions were lifted and vaccines were made available across the globe.

The COVID-19 pandemic has had a positive growth impact on the global healthcare big data analytics market. This was aggravated by restrictions such as lockdowns, social distancing, and other restrictions. Due to this there was a significant shift towards digitalization in healthcare. This included remote patient monitoring, telehealth services, HER adoption and more. Such a shift caused the generation of data which can be analyzed using data analytics tools to obtain valuable insights. Big data analytics was also used to predict virus spread and was also employed in vaccine deployment & contact tracing. Further, healthcare administrators used data analytics to predict the requirement of services and supplies which helped them plan efforts accordingly. Moreover, insurance companies also got aid through healthcare big data analytics to efficiently manage settlement claims, track ongoing claims, and identify fraudulent cases. Hence, the COVID-19 pandemic had a positive impact on the overall market growth.

Market Value by Segment (2030)

Value (USD Mn)

Descriptive Analytics

Predictive Analytics

Prescriptive Analytics

Others

Companies

Key companies profiled in Healthcare Big Data Analytics Market

Profiles of 102 companies operating in the Healthcare Big Data Analytics Market market, including revenue, employee count, and market positioning where available.

Region

Industry

Founded Year

Showing 102 of 102 companies

Internatio

International Business Machines Corporation

Healthcare

Company Headquarters: US Founded: 1911 Workforce: ~2,88,300 Company Working: International Business Machines Corporation (IBM) is a technology company. The Company segments include Cloud & Cognitive Software, Global Business Services (GBS), Systems and Global Financing. The Cloud & Cognitive Software Solutions segment delivers integrated and secure cloud, data and artificial intelligence (AI) solutions to its clients. It comprises three business areas: cognitive applications, cloud & data platforms, and transaction processing platforms. The GBS segment provides consulting, business process and application management services. The Global Financing segment is engaged in financing, which is primarily conducted through IBM Credit LLC, and remanufacturing and remarketing. The Systems segment provides clients with infrastructure platforms to help meet the requirements of hybrid multi-cloud and enterprise AI workloads. It also provides telco consulting services and solutions to help communications service providers (CSP) and media on multiple cloud platforms. Geographically, the company classifies its operations into three segments, namely, the Americas, Europe, the Middle East & Africa, and Asia-Pacific.

Health Catalyst

Company Headquarters: Utah, US Founded: 2008 Workforce: ~1,000 Company Working: Health Catalyst provides healthcare organizations with data and analytics technology and services. The company primarily offers healthcare providers a cloud-based data platform, analytics software, and professional services expertise. It company offers solutions such as a data and analytics platform, population health management, clinical quality improvement, cost management, clinical development, and others. It operates various subsidiaries, such as Twistle, Inc., Vitalware, LLC, and others.

ExlService Holdings Inc

Healthcare

Company Headquarters: New York, US Founded: 1999 Workforce: ~40,000 Company Working: ExlService Holdings Inc (ExlService) is a business process management service provider. The company offers domain expertise, operations management, data analytics, digital technology platforms, and various services such as insurance, healthcare, and banking solutions. It also provides financial, travel, transportation, and logistics solutions, finance and accounting solutions, consulting services, analytics solutions, and digital solutions. It serves the insurance, healthcare, travel and leisure, transportation and logistics, banking and financial, and utility industries. It has a business presence in the US, Europe, Latin America, South Africa, Australia, and Asia.

Oracle Corporation

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Franklin Gothic Medium",sans-serif;} Oracle Corporation was established in 1977, with its headquarters in California, U.S. The company manufactures application software, hardware systems and provides solutions for other services. The company offers services in three major areas such as software as a service, platform as a service and infrastructure as a service. Under homomorphic encryption, the company provides IT infrastructure solutions such as data encryption. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Franklin Gothic Medium",sans-serif;} The company has production centres, research and development engineers, personalization & data centres across the globe in regions such as U.S., India, Japan, U.K., Germany, New Zealand, Canada and Russia. The main strategy of the company is to invest more in research & development to innovate new products which can be offered through cloud and on premise software. It reported revenue of USD 37,047 million in FY2016.

United States, North America

Equipment & Machinery

United States, North America

Novavax, I

Novavax, Inc.

Healthcare

Company Headquarters: Maryland, US Founded: 1987 Workforce: ~2,500 Company Working: Novavax, Inc. is a biotechnology company that commercializes and develops vaccines to prevent a wide range of infectious diseases. It designs recombinant nanoparticle vaccine technology that produces a strong immune response against a variety of pathogens. It is partnered with leading biopharma organizations, government agencies, research institutions, and foundations, namely the Coalition for Epidemic Preparedness Innovations (US), the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (US), the Serum Institute of India Pvt. Ltd. (India), SK Bioscience (South Korea), CPL Biological (India), and Takeda Pharmaceuticals (US). It has seven research and manufacturing facilities. It has presence in regions namely North America, Europe, and the Middle East and Africa

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About the Author

Healthcare IT Research Team

Healthcare · Healthcare IT

Wantstats' healthcare coverage comes from a small, focused team that spends as much time talking to clinicians and payers as it does modeling data. What's in this report reflects that mix — grounded in proprietary market data, cross-checked against public filings, and reviewed internally before publication. This report specifically covers the Healthcare IT space within that portfolio.

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Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

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We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.

Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Healthcare Big Data Analytics Market

By Segment, By Region, And Segment Forecasts, 2018 – 2030

Starting from

$4,950

Healthcare Big Data Analytics Market

By Segment, By Region, And Segment Forecasts, 2018 – 2030

Key Insight

Market Performance Trend

Market Scope & Coverage

What this report covers

Healthcare Big Data Analytics Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Healthcare Big Data Analytics Market — Competitive Analysis

Regional Market Data

Segment Revenue (2030)

Segment Market Share

Market by Segment (2030)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2030)

About the Author

Healthcare IT Research Team

Market Performance Trend

Healthcare Big Data Analytics Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Healthcare Big Data Analytics Market — Competitive Analysis

Regional Market Data

Segment Revenue (2030)

Segment Market Share

Market by Segment (2030)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2030)

About the Author

Healthcare IT Research Team

Save over 20% on
Annual Subscription

Save over 20% on
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