Big Data in Healthcare Market Set to Expand Saliently at a Robust CAGR during the Forecast Period 2018-2026


Posted October 23, 2018 by coherent3

Big data in healthcare market revenue is expected to grow at lucrative rate over the forecast period primarily due to increased digitalization in industrial process

 
Major depressive disorder (MDD) also known as clinical depression is a mental health disorder which affects mood, behavior as well as appetite and sleep. The exact cause of MDD is not known, however, several factors which can increase its risk is combination of genes and stress that affects brain chemistry and reduce the ability to maintain mood stability. Imbalanced hormone, alcohol or drug abuse, certain medical conditions such as cancer or hypothyroidism, and some adverse effects of medication such as steroids can also lead to MDD. Changing lifestyles such as work pressure, alcohol abuse, and others has resulted in increasing prevalence of MDD, which is expected to drive market growth over the forecast period. For instance, according to an article published in National Center for Biotechnology Information 2015, MDD is the most common psychiatric disorder in India and the lifetime prevalence of MDD is 10–25% for women, and 5–12% for men.

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Dearth of Skilled Manpower to Inhibit Growth of Big Data in Healthcare
Although, the market is huge in the developed nations, particularly in the U.S., dearth of trained personnel for analyzing big data is projected to limit the growth of this market in North America. Moreover, factors such as decreasing profit margins, slowdown in the global economy, and lack of skilled manpower is inhibiting growth of big data implementation in the healthcare industry. Some of the other challenges for big data in healthcare include data fragmentation, security issues, and lack of standardization. Furthermore, big data solution providers need to ensure compliance with regulations laid by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). These factors are especially prevalent in developing economies of Asia Pacific and Latin America due to lack of effective healthcare infrastructure and inadequate supportive government regulations. Increasing cost pressure and lack of trained professionals dissuades healthcare providers from implementing expensive systems supporting big data solutions. However, improvement in IT infrastructure in developing economies over the near future is expected to be a major contributor for increase in demand for big data.

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Big Data in Healthcare Market, by Analytics Type
◦ Descriptive Analytics
◦ Predictive Analytics
◦ Prescriptive Analytics
• by Application
◦ Clinical Analytics
◦ Financial Analytics
◦ Operational and Administrative Analytics
◦ Population Health Analytics
• by Delivery Model
◦ On-premise
◦ On-demand

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Issued By coherent
Country Angola
Categories Fitness , Health
Tags big data in healthcare market growth , big data in healthcare market share , data in healthcare market analysis
Last Updated October 23, 2018