Depending on component, the healthcare market of big data analytics is divided into software and hardware. Between the two, the software category is predicted to demonstrate faster growth in the market in the forthcoming years. This will be because of the growing requirement for electronic medical records (EMR). When deployment type is taken into consideration, the market is classified into on-demand and on-premise. Of these, the on-demand category will exhibit faster growth in the market in the future years.
This will be due to the rising popularity of the on-demand deployment method, on account of its various advantages such as easier replicability, faster deployment, and easier scalability over the on-premises deployment mode. Globally, the big data analytics in healthcare market is predicted to register huge expansion in the European and North American regions in the upcoming years. This will be due to the rapid technological advancements, the increasing digitalization, and existence of big healthcare companies in these regions.
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Additionally, the soaring information technology (IT) spending in the healthcare sector is fueling the market advancement in these regions. On the other hand, the market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the coming years. This is attributed to the growing requirement for better healthcare services and solutions in the emerging economies and the surging investments being made in healthcare IT infrastructure in the region.
Hence, it is safe to say that the market will register huge growth all over the world in the coming years, primarily because of the rising requirement for financial analytics solutions in the healthcare sector and the mushrooming usage of electronic health records in healthcare facilities, on account of the implementation of favorable government initiatives.
