Data Monetization In Healthcare Market Size & Share, By Method (Data As A Service, Insight As A Service, Embedded Analytics), Organization Size, End Users, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Data Monetization In Healthcare Market crossed USD 488.74 Million in 2023 and is predicted to reach USD 2.32 Billion by end of the year 2032, witnessing more than 18.9% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 488.74 Million
• CAGR (2024-2032): 18.9%
• Forecast Year Value (2032): USD 2.32 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing adoption of electronic health records (EHR) and the growing emphasis on data-driven decision-making in healthcare organizations are driving the demand for data monetization solutions in the healthcare market. The ability to extract valuable insights from the vast amount of data generated in the healthcare industry is proving to be crucial for improving patient outcomes and reducing costs.

Another major growth driver for the data monetization in healthcare market is the rise of value-based care models. Value-based care incentivizes healthcare providers to focus on delivering better outcomes for patients rather than simply providing more services. Data monetization solutions enable healthcare organizations to leverage data analytics to identify areas for improvement and track progress towards achieving value-based care goals.

The increasing focus on personalized medicine and precision healthcare is also contributing to the growth of the data monetization market in healthcare. By analyzing individual patient data, healthcare providers can tailor treatment plans to meet the specific needs of each patient, leading to better outcomes and experiences.

Report Scope

Report Coverage	Details
Segments Covered	Method, Organization Size, End User
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Accenture Plc, H1, Infor, Informatica, Infosys Limited, Innovaccer,, Microsoft, OpenText, Oracle, Salesforce,, SAP SE, SAS Institute, Siemens, TIBCO Software, and Virtusa Corp.

Industry Restraints:

A primary hindrance for the data monetization in healthcare market is concerns around data privacy and security. The healthcare industry is highly regulated and organizations must comply with strict data protection laws to ensure patient information is kept confidential and secure. This can create barriers to the adoption of data monetization solutions, as healthcare organizations must balance the need for data-driven insights with the need to protect patient privacy.

Another restraint for the data monetization market in healthcare is the lack of interoperability between different healthcare systems and data sources. Healthcare data is often siloed in various systems and formats, making it challenging for organizations to aggregate and analyze data from multiple sources. This lack of interoperability can hinder the effectiveness of data monetization solutions and limit the ability of healthcare providers to derive meaningful insights from their data.

Regional Forecast:

North America:

The North America region dominates the data monetization in healthcare market, with the U.S. and Canada being the key countries driving growth in this sector. The presence of advanced healthcare infrastructure, increasing adoption of digital technologies, and government initiatives promoting data analytics are some of the factors contributing to the market growth in this region.

Asia Pacific:

Asia Pacific is also witnessing significant growth in the data monetization in healthcare market, with countries like China, Japan, and South Korea leading the way. The increasing focus on precision medicine, rising healthcare expenditure, and efforts to improve patient outcomes through data analytics are driving the market growth in this region.

Europe:

In Europe, countries like the United Kingdom, Germany, and France are experiencing growth in the data monetization in healthcare market. The presence of a well-established healthcare system, increasing demand for personalized healthcare solutions, and collaborations between healthcare providers and technology companies are some of the factors fueling market growth in this region.

Segmentation Analysis:

In terms of segmentation, the global Data Monetization In Healthcare market is analyzed on the basis of Method, Organization Size, End User.

Data As A Service:

The data as a service method in the healthcare market involves providing access to data sets on a subscription basis. This method allows healthcare organizations to access valuable data without the need to invest in infrastructure or maintain a data warehouse. By leveraging data as a service, healthcare providers can make more informed decisions, improve care quality, and streamline operations.

Insight As A Service:

Insight as a service is another method of data monetization in the healthcare market. This approach involves offering data-driven insights and recommendations to healthcare organizations to help them optimize their processes and improve patient outcomes. By providing actionable insights based on data analytics, organizations can gain a competitive edge and deliver better care to their patients.

Embedded Analytics:

Embedded analytics is a method that integrates data analytics capabilities into existing healthcare applications and workflows. This approach enables healthcare organizations to access real-time analytics within their existing systems, allowing for more informed decision-making and enhanced data visibility. By embedding analytics into their workflows, organizations can drive innovation, improve efficiency, and deliver personalized care to patients.

Organization Size:

In terms of organization size, data monetization in the healthcare market is accessible to organizations of all sizes. Large healthcare systems may leverage data monetization methods to improve care coordination and population health management, while smaller organizations can use data monetization to enhance decision-making and optimize resource allocation. Regardless of size, organizations can benefit from data monetization by harnessing the power of data to drive improvements in patient care and operational efficiency.

End Users:

End users of data monetization in the healthcare market include healthcare providers, payers, pharmaceutical companies, and medical device manufacturers. Healthcare providers can use data monetization to improve care delivery, patient outcomes, and population health management. Payers can leverage data monetization to optimize reimbursement models and identify cost-saving opportunities. Pharmaceutical companies and medical device manufacturers can use data monetization to drive product innovation, improve patient outcomes, and gain a competitive edge in the market.

Competitive Landscape:

The competitive landscape in the Data Monetization in Healthcare Market is increasingly dynamic, characterized by the emergence of diverse players ranging from established tech giants to innovative startups. Companies are competing on various fronts including the development of cutting-edge analytics solutions, robust data security measures, and strategic partnerships with healthcare providers and payers. The trend towards value-based care and the rising adoption of digital health technologies are driving the demand for comprehensive data monetization strategies, prompting companies to enhance their capabilities in data integration and real-time analytics. As regulatory frameworks evolve, firms are also focused on ensuring compliance with data privacy laws while unlocking new revenue streams through data insights.

Top Market Players

- IBM

- Oracle

- Microsoft

- Philips

- Google Cloud

- SAS Institute

- Cerner Corporation

- HealthVerity

- Merative (formerly IBM Watson Health)

- Optum Insights