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By Jennifer Bresnick
– They seem to be rosy days for investors and sellers with interests in offering some of the most talked about technologies to healthcare organizations.
The market of products and services rooted in blockchain, deep learning and other innovative ways to manage and analyze big data is expected to see significant growth, according to recent market reports.
Suppliers, payers and other stakeholders seem to be very keen to invest in tools, strategies and systems that will help them cope with many new challenges in the months and years to come. Suppliers and service providers will have unprecedented opportunities to compete for the attention of healthcare organizations seeking to achieve ambitious clinical and financial goals.
Health care will help push $ 18 billion into learning expenses by 2024
Deep learning, one of the most promising sectors of artificial intelligence, provides an impressive annual growth rate of 42% (CAGR) until 2024, according to the Market Research Engine.
By the middle of the decade, healthcare organizations will join colleagues in other industries to spend $ 18 billion on deep learning technologies to analyze images, extract meaning from unstructured data, and support decision making.
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Organizations will need to invest in hardware and software to support deep learning tools, report notes, and companies that offer cutting-edge computing capabilities will likely benefit from the focus on infrastructure development.
Chip makers with a well-established reputation and a growing presence in the healthcare sector, such as NVIDIA, Intel and Qualcomm Technologies, may be of particular interest to healthcare organizations wishing to increase the processing power of the IA.
A separate report from the Market Research Engine predicts that the demand for artificial intelligence chipsets will exceed $ 59 billion by the same year, representing a 36% CAGR for the entire forecast period.
In the meantime, from the point of view of archiving and archiving, companies like IBM, Microsoft and Google will probably attract attention as they develop more options for in-depth learning and artificial intelligence.
However, health entities will have to overcome the challenges of data silos and poor data quality if they want to make the most of what in-depth learning has to offer, the report adds.
The big data analytics market in the global healthcare sector will exceed $ 68 billion by mid-2020
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In-depth learning is only a small part of the overall big data analytics market, says Zion Market Research.
Globally, the big data analytics segment is expected to reach over $ 68.03 billion by 2024, mainly thanks to ongoing North American investments in electronic health records, practical management tools and workforce management solutions.
This represents a CAGR of 19.72% more than the 2017 valuation of $ 19.72 billion.
To achieve their long-term goals, organizations will invest heavily in data aggregation, analysis, modeling, quality improvement, validation and reporting, the report says.
In 2016, organizations focused on financial analysis tools, but are expected to move on to skills development in clinical decision support, precision medicine and population health management.
READ MORE: Big data to see explosive growth, challenges for health organizations
Stakeholders will also increase the volume of infrastructures to support their analytics efforts: data archiving, firewalls, routers, virtual private networks and other basic core systems will continue to drive growth in the market segment.
The thirst for business intelligence will support $ 8.9 billion of global spending
Health organizations wishing to gain visibility on their financial and operational opportunities will spend nearly $ 9 billion on business intelligence tools by 2023, predicts Research and Markets.
"The growth in the health intelligence business market is primarily driven by the implementation of government initiatives to increase the adoption of EHR, increasing adoption of data-driven decisions, increasing pressure to reduce health spending and improve the results of patients, big data in the healthcare sector and an increasing number of patients' registries, "says the report.
Once again, North America should account for most of this investment, with 62% of the potential market and a CAGR of 16.2%, attributable to North American expenses.
The market is highly competitive, notes the report, with companies such as IBM, Oracle, SAP, Tableau, Information Builders, Sisense and Microsoft looking for business in the healthcare sector.
Although these vendors are likely to offer a range of new and updated products to meet the high demand, the significant initial investments required to achieve a ground-based business intelligence initiative could limit some of the industry's expected growth.
Suppliers will need to create attractive pricing structures and offers of exclusive products to ensure the market share in this segment of the analysis industry.
An incredible 70% CAGR is in store for health blockchain technologies
It is expected that the interest in blockchain health care technologies will explode over the next six years, according to Zion Market Research.
In 2017, the global health blockchain market stood at $ 34.47 million.
However, it is expected that the segment will see a CAGR of 70.45% until 2024, resulting in an opportunity for $ 1.4 billion for blockchain suppliers.
Distributed register technology is just starting to take hold with healthcare professionals and payers looking for safer and more reliable ways to manage and exchange sensitive data.
But if high-profile entities like IBM, PokitDok, Hashed Health and Patientory have something to say about it, blockchain will meet the expectations set by the report within the expected time frame.
"The supply chain management segment holds the highest share in the application segment," notes Zion Market Research. "Based on the end-user, blockchain technology in the health market has been divided into health payers, pharmaceutical companies and healthcare professionals."
Other key use cases include medical research, interoperability, claims management and billing.
Blockchain can be particularly powerful in combination with other analytical and artificial intelligence strategies that find a home in the healthcare industry. The use of the blockchain to free and share key data sets used for business intelligence and clinical analysis could support a larger, more fluid data ecosystem.
Health organizations will need to develop a large roadmap for big data to ensure they are investing in a seamless suite of technologies that will support their goals.
As the markets for these technologies expand and vendors continue to offer innovative tools and technologies, healthcare professionals will likely be well placed to implement the infrastructure and applications needed to succeed with their data-driven initiatives. .
