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(Medical-NewsWire.com, November 16, 2017 ) Market Outlook:
"Big Data” originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Amid the proliferation of realtime and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The healthcare and pharmaceutical industry is no exception to this trend, where Big Data has found a host of applications ranging from drug discovery and precision medicine to clinical decision support and population health management.
The “Big Data in the Healthcare & Pharmaceutical Industry: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an indepth assessment of Big Data in the healthcare and pharmaceutical industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2017 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 5 application areas, 36 use cases, 6 regions and 35 countries.
Precise Market Reports estimates that Big Data investments in the healthcare and pharmaceutical industry will account for nearly $4 Billion in 2017 alone. Led by a plethora of business opportunities for healthcare providers, insurers, payers, government agencies, pharmaceutical companies and other stakeholders, these investments are further expected to grow at a CAGR of more than 15% over the next three years.
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Key Players of Big Data in the Healthcare & Pharmaceutical Market:
GoodData Corporation, Google, 1010data, Absolutdata, Accenture, Bangkok Hospital Group, Basho Technologies, Bayer, BCG (Boston Consulting Group), Bedrock Data, CSA (Cloud Security Alliance), CSCC (Cloud Standards Customer Council), CSIRO (Commonwealth Scientific and Industrial Research Organization), Huawei, IBM Corporation, iDashboards, IEEE (Institute of Electrical and Electronics Engineers), IHE (Integrating the Healthcare Enterprise), Illumina, Linux Foundation, Logi Analytics, Longview Solutions, WiPro, Workday, X12
Key Findings
The report has the following key findings:
• In 2017, Big Data vendors will pocket nearly $4 Billion from hardware, software and professional services revenues in the healthcare and pharmaceutical industry. These investments are further expected to grow at a CAGR of more than 15% over the next three years, eventually accounting for over $5.8 Billion by the end of 2020.
• Through the use of Big Data technologies, hospitals and other healthcare facilities have been able to achieve cost reductions of more than 10%, improvements in outcomes by as much as 20% for certain conditions, growth in revenue by 30%, and increase in patient access to services by more than 35%.
• Big Data technologies are playing a pivotal role in accelerating the transition towards accountable and valuebased care models, by enabling the continuous collection, consolidation and analysis of clinical and operational data from healthcare facilities and other available data sources.
• Addressing privacy and security concerns is necessary in order to fully leverage the benefits of Big Data in the healthcare and pharmaceutical industry. Therefore, it is essential for key stakeholders to make significant investments in data encryption and cybersecurity, in addition to adopting defensible deidentification techniques and implementing strict restrictions on data use.
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Market Segmentation:
Market forecasts are provided for each of the following submarkets and their subcategories:
- Hardware, Software & Professional Services:
Hardware, Software, Professional Services
- Horizontal Submarkets:
Storage & Compute Infrastructure, Networking Infrastructure, Hadoop & Infrastructure Software, SQL, NoSQL, Analytic Platforms & Applications, Cloud Platforms, Professional Services
- Application Areas:
Pharmaceutical & Medical Products, Core Healthcare Operations
- Use Cases:
Drug Discovery, Design & Development, Medical Product Design & Development, Clinical Development & Trials, Precision Medicine & Genomics, Manufacturing & Supply Chain Management, PostMarket Surveillance & Pharmacovigilance, Medical Product Fault Monitoring, Clinical Decision Support, Care Coordination & Delivery Management, CER (Comparative Effectiveness Research) & Observational Evidence
- Regional Analysis:
• Asia Pacific
• Eastern Europe
• Latin & Central America
• Middle East & Africa
• North America
• Western Europe
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About us:
Precise market reports, a onestop research platform designed to help key decision makers and dynamic thought leaders across various industry verticals worldwide by making them aware of the past, current and future market scenario.
Tier 1's, SME's startups, top management consultants, have clearly visualized their environment using our analysis, thus enabling them to make critical business decisions and in devising a strategic plan.
Contact us:
Precise Market Reports
Office No. 48, Akshya Complex, Dhole Patil road,
Maharashtra, Pune – 411001
India.
sales@precisemarketreports.com
+1 (323) 744 6588
https://www.precisemarketreports.com
Precise Market Reports
Ashish M
+1 (323) 744 6588
sales@precisemarketreports.com
Source: EmailWire.Com 
Source: EmailWire.com
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