The healthcare data monetization market is projected to grow significantly, with estimates indicating a compound annual growth rate of 19.7% from 2024 to 2033.
The growth of the healthcare data monetization market is driven by the widespread implementation of electronic health records (EHRs). EHRs not only improve healthcare delivery but also enable the monetization of healthcare data for various purposes such as medical research and drug development.
Recent surveys show that approximately 90% of insurance carriers are currently using EHRs, marking a 38% increase in adoption since 2020. This highlights the increasing recognition of EHRs as a valuable resource for improving patient outcomes and personalized medicine.
Major players in the healthcare data monetization market include Google, Microsoft, and Oracle. Oracle's acquisition of Cerner for $28.3 billion in April 2021 is a notable example of strategic moves to enhance healthcare delivery.
The market is segmented by type, deployment methods, and end users, reflecting its multifaceted nature.
While North America currently dominates the market, other regions such as Asia-Pacific and Western Europe are also emerging as significant players.
Technological advancements in data analytics, artificial intelligence, and machine learning are driving growth in the market, enabling healthcare organizations to extract valuable insights from data.
Emerging trends such as the integration of blockchain technology and the rise of telehealth services are expected to shape the landscape of healthcare data monetization.
Companies in this sector are exploring growth strategies such as partnerships and collaborations to enhance their service offerings and expand their market reach.
The demand for customized research services and market entry packages is increasing as organizations navigate the complexities of this evolving market. The healthcare data monetization market is experiencing a transformative phase, presenting opportunities for stakeholders in the industry to capitalize on.