Meticulous Research®, a renowned global market research firm, has unveiled a detailed research report titled "Big Data Analytics in Healthcare Market by Component (Software, Hardware, Services [Descriptive, Prescriptive, Diagnostic]), Deployment (On-premise, Cloud), Application (Clinical, Financial, Operational, Population Health), and End User - Global Forecast to 2030."

As per the latest findings from Meticulous Research®, the big data analytics in healthcare market is anticipated to soar to $95.2 billion by 2030, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 13.8% throughout the forecast period. Factors propelling this growth include the increasing adoption of Electronic Medical Records (EMR) & Electronic Health Records (EHR), augmented investments in the healthcare IT sector, and a shift towards value-based care from volume-based care. However, infrastructural limitations in developing nations pose a challenge to market expansion. Nonetheless, the growing preference for cloud-based analytics solutions presents significant growth prospects. Nevertheless, the market faces challenges such as security concerns and a shortage of skilled data professionals.

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Future Outlook of Big Data Analytics in Healthcare Market:
The big data analytics in healthcare market is segmented based on component (hardware, software, and services including descriptive, prescriptive, predictive, and diagnostic), deployment (on-premise and cloud-based), application (clinical, financial, operational, population health analysis, and other applications), and end user (hospitals & clinics, research organizations, and finance & insurance agencies). The report also includes an evaluation of industry competitors and a comprehensive analysis of the market at regional and country levels.

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Among all components studied, the services segment is projected to hold the largest share in the big data analytics in healthcare market in 2023. Particularly, the prescriptive services segment is anticipated to lead the services market, offering insights for optimal future outcomes.

Cloud-based deployment is expected to witness the highest CAGR during the forecast period due to its cost-effectiveness, real-time analysis capabilities, and scalability.

In terms of applications, financial analysis is expected to dominate the market in 2023, driven by healthcare industry focus on revenue cycle management and cost management.

Hospitals & clinics are anticipated to witness the highest CAGR among end users, attributed to the widespread adoption of big data analytics for data analysis and quick decision-making.

Geographic Review:
North America is expected to lead the big data analytics in healthcare market, followed by Europe and Asia-Pacific. The U.S. is anticipated to hold the largest market share in North America in 2023, owing to advanced technology and a high number of research studies.

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Key Players:
Key players in the big data analytics in healthcare market include GE HealthCare Technologies Inc., Optum, Inc., CSL Limited, Veradigm LLC, Inovalon, The International Business Machines Corporation (IBM), McKesson Corporation, KT Corporation, Epic Systems Corporation, and Cerner Corporation.

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