Big Data In Healthcare Market Analysis, Revenue Share, Company Profiles, Launches, & Forecast Till 2030Posted by sneha j on July 22nd, 2022  Big data analytics in healthcare is the complicated process of analyzing big data to discover information, including unknown correlations, market trends, customer preferences, and hidden patterns, assisting organizations to make informed clinical and business decisions. Healthcare analytics is a huge field, spanning many different areas, especially operational efficiency, personalized medicine, and clinical delivery. In addition, big data analytics optimizes process-oriented expenditures in the healthcare industry by combining performance modeling with financial and predictive care monitoring, improving population health, and others. Growth in regulatory compliance in the healthcare sector, rise in the demand for big data solutions for population health management, surge in need for business intelligence to optimize health administration and strategy, anticipated to drive the market growth.
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COVID-19 Impact analysis COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. The global outbreak of COVID-19 leads to an ongoing downturn of the healthcare market. Apart from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategies to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat. Technological progress, cost containment, and increased access are projected to be an integral part of healthcare reforms in the near future. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care, and consultation. Over the past few years, regulatory and behavioral barriers have slowed Telehealth growth. However, since many healthcare providers are currently working on video conferencing and telephone calls, the segment is anticipated to experience growth over the next two years. The social distancing measures also mandated online consultation of patients with moderate symptoms. In addition, it greatly reduced the burden on hospitals already swamped by counts of COVID-19 patients. Medical IoT devices that live at home with patients are now being used for optimizing outpatient treatment and minimizing repeat visits, and these devices can be further used in a crisis situation. The pandemic led to severe resource constraints. This is expected to result in the development of competitive pricing and value-based pricing models, which boosts the growth of the big data in the healthcare market. Top Impacting Factors
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