The Big Data Analytics in Healthcare Market is to Touch $67.38 Billion by 2030; Expansion of healthcare IT infrastructure and cloud computing adoption, increasing digitization of healthcare records and data sources propels market growth.

The Big Data Analytics in Healthcare Market size is estimated to reach $67.38  billion by 2030, growing at a CAGR of 9.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Big Data Analytics in Healthcare Market – By Analytics Type (Investigative/Diagnostic, Descriptive, Prescriptive, and Analytical/Predictive), By Deployment (Cloud and On-Premise), By Application (Supply chain analytics, Transactional data assessment, Risk management analytics, Clinical data analytics, financial analytics, Operational Analytics, and others), By End User (Clinics, Hospitals, Insurance agencies, Research Facilities, and Other medical facilities), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Advances in machine learning and artificial intelligence technologies and Increasing adoption of wearable devices and health monitoring tools are the main drivers of market expansion and are fueling the growth of the Big Data Analytics in Healthcare industry during the forecast period.

North America accounted for the largest share of 37% of the Big Data Analytics in Healthcare Market in 2023 followed by Europe and Latin America. According to the McKinsey estimates in 2024, that big data analytics can save $300 billion annually in U.S. healthcare, equating to 8% of national expenditures. These savings stem from enhanced diagnostics, fraud reduction, and improved patient outcomes. As the adoption of advanced analytics grows, the healthcare sector is poised for substantial efficiency and effectiveness gains. 

The growing demand for personalized medicine and treatment plans in healthcare is driven by advancements in big data analytics. This technology enables the analysis of patient-specific data, allowing healthcare providers to develop tailored treatment strategies that enhance patient outcomes. Additionally, integrating AI and machine learning facilitates identifying patterns and correlations in large datasets, improving medical intervention precision. According to the Precision Medicine Industry Association of Taiwan (PMIA), Taiwan's aging population is expected to exceed 30% by 2039, significantly increasing healthcare costs. Leveraging precision health can optimize medical resource allocation and improve access to precision medicine, thereby enhancing public health. These trends underscore the critical role of big data analytics in driving healthcare efficiency and effectiveness.

Rising healthcare costs are driving the need for efficiency and cost reduction through big data analytics. According to federal data in 2023, U.S. healthcare spending surged by 7.5% to $4.8 trillion, surpassing the 6.1% GDP growth rate. Advanced analytics help providers optimize resource use, streamline operations, and enhance patient care. Predictive analytics reduce unnecessary procedures and improve diagnostic accuracy, while big data aids in fraud detection, curbing financial losses. Consequently, big data analytics is crucial for healthcare organizations striving to balance financial sustainability with high-quality care. The increasing integration of these technologies is expected to drive significant market growth. 

Key companies profiled in the Big Data Analytics in Healthcare Market are GE Healthcare, Dell EMC, IBM Technology Company, Epic System Corporation, Hewlett Packard Enterprise, Microsoft Corporation, Optum Inc, Allscripts Healthcare Solutions, Inc., Oracle Corporation, Stryker Corporation, SAS Institute Inc., SAP SE, Cisco System, Inc., Infosys Limited, Cognizant Technology Solutions and others.