Healthcare Data Monetization Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Healthcare Data Monetization Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The healthcare data monetization market size has grown exponentially in recent years. It will grow from $0.69 billion in 2023 to $0.83 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to increased focus on data privacy and security, increase in use of external data sources.

The healthcare data monetization market size is expected to see rapid growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to widespread adoption of electronic health records (ehr), increasing regulatory compliance and standards. Major trends in the forecast period include increased focus on data privacy and security, rise of data exchange platforms, expansion of value-based care models, integration of artificial intelligence and machine learning, emergence of data monetization partnerships.

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Market Drivers and Trends:

The widespread adoption of electronic health records is expected to propel the growth of the healthcare data monetization market going forward. Electronic health records are digital versions of patients' medical records that contain information about their health history, diagnoses, medications, and treatments. EHRs (Electronic Health Records) are used in healthcare data monetization for medical research, drug development, and clinical trials, to better treatments and personalized medicine. For instance, in June 2023, according to a survey of 32 companies by Munich Re Group, a Germany-based insurance company, around 90% of carriers are currently using EHRs, and EHR adoption has increased by 38% since 2020. Therefore, the widespread adoption of electronic health records is driving the growth of the healthcare data monetization market.

Major companies operating in the healthcare data monetization market are introducing various innovations in digital transformation, such as Software as a Service, that helps healthcare providers deliver more personalized patient experiences. SaaS, or Software as a Service, is a software delivery model where applications are hosted in the cloud and accessed by users over the internet, typically through a web browser or mobile app. For instance, in April 2023, Salesforce, a US-based cloud-based software company, announced new Customer 360 for Health capabilities designed to help healthcare providers deliver more personalized patient experiences. The innovations aim to streamline processes, reduce costs, and improve patient care by leveraging real-time data, AI, and automation. These features help healthcare and life sciences organizations enhance the overall care experience with the full power of Salesforce technology, including real-time data from Data Cloud, Einstein AI, and automation with Flow.

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Major Key Players of the Market:

Major companies operating in the healthcare data monetization market report are Google LLC, McKesson Corporation, Microsoft Corporation, Siemens AG, Plc, Oracle Corporation, SAP SE, Salesforce Inc., GE Healthcare, Infosys Limited, Cerner Corporation, OpenText Corporation, Epic Systems Corporation, Snowflake Inc., Informatica Inc., TIBCO Software Inc., QlikTech International AB, Innovaccer Inc., Sisense Inc., H1.Co, Infor, SAS Institute Inc., Virtusa Corp., John Snow Labs Inc., HTEC Group

Healthcare Data Monetization Market 2024 Key Insights:

• The healthcare data monetization market is expected to grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%.
• Electronic Health Records Fueling Growth In Healthcare Data Monetization
• Healthcare Innovations For Personalized Patient Experiences
• North America was the largest region in the healthcare data monetization market in 2023

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