LONDON--(BUSINESS WIRE)--The growing concern over the accumulation and management of huge amounts of data in the healthcare industry along with increasing treatment costs, prevalence of diseases, and a need to improve the quality of life have sparked up a need to adopt big data to cater to all these problems.
The growing need for innovation in patient monitoring, and the convergence of several changes in the healthcare industry are the two major reasons that have driven the need for adopting big data. Infiniti Research says other reasons which have triggered the need for big data in this industry include: high demand for better data, availability of relevant data in the form of EHRs, adoption of analytical tools for patient care, and levying of market-friendly policies by governments across the globe.
Many hospitals and health care providing units have adopted the use of electronic health records (EHRs). EHRs makes use of big data in a huge scale. These digital records are responsible for storing crucial patient information like their medical history, results of lab tests, demographic detail, among others. By the help of the data which gets collected in these electronic documents, doctors can get a clear picture of the patient history which in-turn facilitates better and timely delivery of the healthcare services. Also, by using big data, patients can easily keep track of their prescriptions and lab tests. This has helped in reducing the patient’s unnecessary hospital visits and lab tests.
Another market trend is the technological advancements in telemedicine. Digitization, smartphones, wireless devices, and online video conferences have set the ball rolling for delivery of remote clinical services. The data collected from these devices can be easily shared which makes diagnosis much easier.
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Massive growth is expected for big data spending in the healthcare industry until the year 2019. Healthcare organizations are increasingly leveraging technology trends such as cloud computing, social networking, and big data analytics to reduce medical costs and help in effective remote patient monitoring.
The adoption of health technologies and the large number of data being generated is putting an increased emphasis on market intelligence. Healthcare intelligence solutions are helping organizations cope with the changing market landscape, so they can tackle key challenges and cater to changing demands to remain competitive.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 14 years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.