Big Data in Healthcare Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

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.

  • Big Data in Healthcare Market, by Analytics Type
    • Descriptive Analytics
    • Predictive Analytics
    • Prescriptive Analytics
  • by Application
    • Clinical Analytics
    • Financial Analytics
    • Operational and Administrative Analytics
    • Population Health Analytics
  • by Delivery Model
    • On-premise
    • On-demand 
  • by End User
    • Payers
    • Providers 
    • Third party care organizations

Pharmaceutical companies, payers, and experts are using big data analytics/solutions to analyze and obtain insights about industry trends and accordingly make detailed and accurate projections about the market. Based on the insights from big data solutions, various recipients can make informed decisions to improve their products or services.

Dearth of Skilled Manpower to Inhibit Growth of Big Data in Healthcare

Although, the market is huge in the developed nations, particularly in the U.S., dearth of trained personnel for analyzing big data is projected to limit the growth of this market in North America. Moreover, factors such as decreasing profit margins, slowdown in the global economy, and lack of skilled manpower is inhibiting growth of big data implementation in the healthcare industry. Some of the other challenges for big data in healthcare include data fragmentation, security issues, and lack of standardization. Furthermore, big data solution providers need to ensure compliance with regulations laid by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). These factors are especially prevalent in developing economies of Asia Pacific and Latin America due to lack of effective healthcare infrastructure and inadequate supportive government regulations. Increasing cost pressure and lack of trained professionals dissuades healthcare providers from implementing expensive systems supporting big data solutions. However, improvement in IT infrastructure in developing economies over the near future is expected to be a major contributor for increase in demand for big data.

Fragmented 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 in the global big data in healthcare market include Hewlett-Packard Co., Teradata Corporation, Opera Solutions, Cognizant Technology Solutions, Siemens Healthcare Gmbh, Mu Sigma, Splunk Inc., Cloudera, EMC, IBM, Calpont Corporation, and Oracle Corporation.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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