SNS Telecom & IT’s latest report indicates that big data investments in the healthcare and pharmaceutical industry are expected to reach nearly $4.7 billion by the end of 2018.
Originally used as a term to describe datasets with sizes beyond the ability of traditional databases, the scope of big data 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 analyse large and variable collections of data, to solve complex problems.
Amid the proliferation of real-time 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.
SNS Telecom & IT estimates that big data investments in the healthcare and pharmaceutical industry will account for nearly $4.7 billion in 2018 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 approximately 12% over the next three years.
The Big Data in the Healthcare & Pharmaceutical Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts report presents an in-depth 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 2018 through to 2030.
The forecasts are segmented for 8 horizontal submarkets, 5 application areas, 37 use cases, 6 regions and 35 countries.
The report will be of value to current and future potential investors into the big data sector, as well as big data vendors, healthcare providers, insurers, payers, pharmaceutical companies and other stakeholders who wish to broaden their knowledge of the ecosystem.