Visiongain Research Inc. recently published a report on the role of ‘Big Data Analytics in the Healthcare Market’. In its findings, the research firm highlighted the impressive growth of technology in the healthcare sector. Global Big Data Analytics in healthcare which was valued at USD 23.94 Billion in 2020, is expected to cross USD 45.64 Billion by 2026. Visiongain further states in its report that by 2030, its market share may touch a whopping USD 101.07 Billion.

Increased usage of electronic devices for the execution of regular medical work has led to enhanced adoption of big data technologies in the healthcare sector. Big Data technologies play a critical role in integrating and managing data from multiple sources for more efficient working and better decision making. Whether it is about managing operations related to electronic medical records, patient monitoring, laboratory data, automatic fraud detection, exploration of new business models, or any other thing, Big Data provides a competitive edge to healthcare providers. It does not just prove beneficial for hospitals and pharma companies but patients as well.

The report also highlights the importance of North America in leading from the front in this sector. This region accounts for the majority of the market share across the globe. The technology prowess of America along with business-friendly legislation also contribute towards the positive growth of Big Data Analytics in the healthcare sector.

The involvement of corporate giants like Microsoft, NVIDIA, IBM, Oracle, Cognizant, etc. in the Big Data Analytics sector has fueled greater innovation and resulted in the advanced usage of Big Data in various sectors. Healthcare is one amongst them.