Product Code: PM4071
The global healthcare data monetization market size is expected to reach USD 2,370.63 million by 2032, according to a new study by Polaris Market Research. The report "Healthcare Data Monetization Market Share, Size, Trends, Industry Analysis Report, By Method (Insight as a service, Data as a service, Analytics enabled platform as a service, Embedded Analytics); By Organization Size; By End-User; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Healthcare Data Monetization is the process of extracting value or generating revenue from the massive amounts of data collected and stored within the healthcare industry. This data includes electronic health records (EHRs), clinical notes, medical images, billing information, patient demographics, and more.
Embracing the latest advancements in technologies such as Artificial Intelligence, Blockchain, cloud computing, big data analytics, and Machine Learning (ML) is crucial for driving the growth of data monetization in the healthcare industry. These cutting-edge tools and services enable pharmaceutical, healthcare, and medical technology companies to unlock valuable insights, powering their business progress.
The healthcare data monetization market is growing due to the rising use of Electronic Health Records (EHRs), significant investments in advanced analytics, and the need to reduce healthcare costs.
Additionally, these software and services play a pivotal role in optimizing the operational efficiency of diverse business models by predicting potential risks and anomalies, thereby nurturing the expansion of the healthcare data monetization market.
COVID-19 has significantly impacted the healthcare data monetization market. The need for real-time data has accelerated data-sharing initiatives, leading to more collaboration and growth in data monetization. However, concerns around privacy and security have increased regulatory inspection. The pandemic has emphasized responsible data handling and the potential for data-driven innovations to improve healthcare outcomes.
Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective coronary stent devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for coronary stents throughout the forecast period.
Healthcare Data Monetization Market Report Highlights
The Analytics-enabled platform as a service segment held the largest revenue share in healthcare data monetization market. Analytics-enabled platform services in healthcare are rising due to the need for consistent data pattern assessment. Improving statistical and computational capabilities is the focus, and the pharmaceutical industry's demand sensing drives data monetization in healthcare.
The pharmaceutical and biotechnology segment accounted for the highest market share during the forecast period. Pharmaceutical and biotech companies, including contract research and manufacturing organizations, play a critical role in healthcare. They rely on comprehensive health data to make informed decisions, prioritize research, and forecast growth potential for medications.
North America dominated the largest market North America's healthcare industry is experiencing growth in data monetization due to big data analytics and digital transformation. The U.S. government's emphasis on digitization is creating opportunities for healthcare data monetization. North America's healthcare analytics market is currently focused on population health management, with significant investments from venture capitalists due to an increased demand for cost reduction. Technological advancements have led to a wide range of available products and services.
The Asia-Pacific region accounted for the fastest growth in the healthcare data monetization market. The market is anticipated for fast growth, driven by several positive factors. These include the rising popularity of cloud computing, increased integration of AI, and substantial investments in data centers by major industry players. Moreover, the growing accessibility of healthcare services and the increasing commitment of healthcare firms to implementing data management solutions in the region are likely to fuel market expansion during the forecast period.
The global key market players include: Accenture Plc, H1, Infor, Informatica Inc., Infosys Limited, Innovaccer, Inc., Microsoft Corporation, OpenText Corporation, Oracle Corporation, Salesforce, Inc., SAP SE, SAS Institute Inc., Siemens, TIBCO Software Inc., and Virtusa Corp.
Polaris Market Research has segmented the healthcare data monetization market report based on method, organization size, end-user, and region:
Healthcare Data Monetization, Method Outlook (Revenue - USD Billion, 2019 - 2032)
- Insight as a service
- Data as a service
- Analytics-enabled Platform as a service
- Embedded Analytics
Healthcare Data Monetization, Organization Size Outlook (Revenue - USD Billion, 2019 - 2032)
- Large Enterprises
- Small & Medium Enterprises (SMEs)
Healthcare Data Monetization, End-User Outlook (Revenue - USD Billion, 2019 - 2032)
- Healthcare Players
- Medical Technology Companies
- Pharmaceutical and Biotechnology Companies
- Others
Healthcare Data Monetization, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Healthcare Data Monetization Market Insights
- 4.1. Healthcare Data Monetization Market - End-User Snapshot
- 4.2. Healthcare Data Monetization Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing acceptance of Electronic Health Records (Ehrs) will drive the market growth
- 4.2.1.2. Rising need to cut down the growing healthcare costs
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Lack of Data Standardization and Interactivity
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Healthcare Data Monetization Market End-User Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Healthcare Data Monetization Market, by Method
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 5.3. Insight as a service
- 5.3.1. Global Healthcare Data Monetization Market, by Insight as a service, by Region, 2019-2032 (USD Million)
- 5.4. Data as a service
- 5.4.1. Global Healthcare Data Monetization Market, by Data as a service, by Region, 2019-2032 (USD Million)
- 5.5. Analytics-enabled Platform as a service
- 5.5.1. Global Healthcare Data Monetization Market, by Analytics-enabled Platform as a service, by Region, 2019-2032 (USD Million)
- 5.6. Embedded Analytics
- 5.6.1. Global Healthcare Data Monetization Market, by Embedded Analytics, by Region, 2019-2032 (USD Million)
6. Global Healthcare Data Monetization Market, by Organization Size
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 6.3. Large Enterprises
- 6.3.1. Global Healthcare Data Monetization Market, by Large Enterprises, by Region, 2019-2032 (USD Million)
- 6.4. Small & Medium Enterprises (SMEs)
- 6.4.1. Global Healthcare Data Monetization Market, by Small & Medium Enterprises (SMEs), by Region, 2019-2032 (USD Million)
7. Global Healthcare Data Monetization Market, by End-User
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 7.3. Healthcare Players
- 7.3.1. Global Healthcare Data Monetization Market, by Healthcare Players, By Region, 2019-2032 (USD Million)
- 7.4. Medical Technology Companies
- 7.4.1. Global Healthcare Data Monetization Market, by Medical Technology Companies, By Region, 2019-2032 (USD Million)
- 7.5. Pharmaceutical and Biotechnology Companies
- 7.5.1. Global Healthcare Data Monetization Market, by Pharmaceutical and Biotechnology Companies, By Region, 2019-2032 (USD Million)
- 7.6. Others
- 7.6.1. Global Healthcare Data Monetization Market, by Others, By Region, 2019-2032 (USD Million)
8. Global Healthcare Data Monetization Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Healthcare Data Monetization Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Healthcare Data Monetization Market - North America
- 8.3.1. North America: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.3.2. North America: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.3.3. North America: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.3.4. Healthcare Data Monetization Market - U.S.
- 8.3.4.1. U.S.: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.3.5. Healthcare Data Monetization Market - Canada
- 8.3.5.1. Canada: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4. Healthcare Data Monetization Market - Europe
- 8.4.1. Europe: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.2. Europe.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.3. Europe: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.4. Healthcare Data Monetization Market - UK
- 8.4.4.1. UK: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.4.3. UK: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.5. Healthcare Data Monetization Market - France
- 8.4.5.1. France: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.5.2. France.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.5.3. France: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.6. Healthcare Data Monetization Market - Germany
- 8.4.6.1. Germany: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.7. Healthcare Data Monetization Market - Italy
- 8.4.7.1. Italy: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.8. Healthcare Data Monetization Market - Spain
- 8.4.8.1. Spain: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.9. Healthcare Data Monetization Market - Netherlands
- 8.4.9.1. Netherlands: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.4.10. Healthcare Data Monetization Market - Russia
- 8.4.10.1. Russia: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5. Healthcare Data Monetization Market - Asia Pacific
- 8.5.1. Asia Pacific: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.4. Healthcare Data Monetization Market - China
- 8.5.4.1. China: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.4.2. China.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.4.3. China: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.5. Healthcare Data Monetization Market - India
- 8.5.5.1. India: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.5.2. India.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.5.3. India: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.6. Healthcare Data Monetization Market - Malaysia
- 8.5.6.1. Malaysia: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.7. Healthcare Data Monetization Market - Japan
- 8.5.7.1. Japan: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.8. Healthcare Data Monetization Market - Indonesia
- 8.5.8.1. Indonesia: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.5.9. Healthcare Data Monetization Market - South Korea
- 8.5.9.1. South Korea: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.6. Healthcare Data Monetization Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.6.4. Healthcare Data Monetization Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.6.5. Healthcare Data Monetization Market - UAE
- 8.6.5.1. UAE: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.6.6. Healthcare Data Monetization Market - Israel
- 8.6.6.1. Israel: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.6.7. Healthcare Data Monetization Market - South Africa
- 8.6.7.1. South Africa: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.7. Healthcare Data Monetization Market - Latin America
- 8.7.1. Latin America: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.7.3. Latin America: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.7.4. Healthcare Data Monetization Market - Mexico
- 8.7.4.1. Mexico: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.7.5. Healthcare Data Monetization Market - Brazil
- 8.7.5.1. Brazil: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
- 8.7.6. Healthcare Data Monetization Market - Argentina
- 8.7.6.1. Argentina: Healthcare Data Monetization Market, by Method, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Healthcare Data Monetization Market, by End-User, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Healthcare Data Monetization Market, by Organization Size, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Accenture Plc
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. H1
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Infor
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Informatica Inc.
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Infosys Limited
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Innovaccer, Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Microsoft Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. OpenText Corporation
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Oracle Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Salesforce, Inc.
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. SAP SE
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. SAS Institute Inc.
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Siemens
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. TIBCO Software Inc.
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Virtusa Corp
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development