Market Overview: Big Data Analytics and its Impact on the Healthcare Industry

Abstract

The healthcare industry is witnessing incredible challenges, and overcoming these plays a pivotal role in its growth. Integration of big data technology in the healthcare systems is expected to revolutionise the industry, with businesses exploring and rediscovering different ways to be beneficial. The convergence of wireless information, advanced databases and influential computing technologies ensures easy processing and an increase in the probability to process big data (Hamilton, 2012, September). To analyse the vast array of information, market players nowadays, are focusing on digitising the records and augmenting their research & development segment. The article illustrates the competitive advantages and initiatives offered and implemented by different market players to streamline their services. The article also contemplates the factors propelling the market demand for big data analytics in the healthcare industry along with the different challenges and opportunities impacting the same. Further, it also emphasises the latest trends and technologies transforming and escalating the market dynamics across the globe.

Keywords: Big Data, Analytics, Healthcare, Technology, Market

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