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How Much Larger Is The Healthcare Data Monetization Market Expected To Become By 2029 Compared With Its 2025 Level?
The healthcare data monetization market has seen rapid expansion in recent years. This market is expected to increase from $0.83 billion in 2024 to $0.99 billion in 2025, achieving a compound annual growth rate (CAGR) of 19.6%. The historical growth of this market can be attributed to a heightened focus on data privacy and security, as well as an increase in the utilization of external data sources.
The healthcare data monetization market size is projected to undergo substantial growth in the coming years. It is anticipated to expand to $2.03 billion in 2029, achieving a compound annual growth rate (CAGR) of 19.6%. The expansion during the forecast period is attributed to the extensive adoption of electronic health records (EHR), alongside rising regulatory compliance and standards. Prominent trends expected in this period include an increased emphasis on data privacy and security, the rise of data exchange platforms, the broadening of value-based care models, the integration of artificial intelligence and machine learning, and the formation of data monetization partnerships.
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Which Industry Drivers Are Expected To Accelerate The Healthcare Data Monetization Market From 2025 To 2029?
The widespread integration of electronic health records is set to drive the expansion of the healthcare data monetization market moving forward. Electronic health records are digital renditions of patients’ medical information, detailing their health history, diagnoses, medications, and therapeutic procedures. In the context of healthcare data monetization, EHRs find application in medical research, drug development, and clinical trials, aiding in the advancement of treatments and personalized medicine. As an illustration, a June 2023 survey of 32 companies by Munich Re Group, an insurance company based in Germany, indicated that about 90% of carriers are presently utilizing EHRs, and EHR adoption has seen a 38% increase since 2020. Hence, the extensive uptake of electronic health records is a primary factor in the growth of the healthcare data monetization market.
What Are The Segment Types Shaping The Healthcare Data Monetization Market?
The healthcare data monetizationmarket covered in this report is segmented –
1) By Type: Direct Data Monetization; Indirect Data Monetization
2) By Deployment: On-Premise; Cloud
3) By End User: Pharmaceutical And Biotechnology Companies; Healthcare Providers; Healthcare Payers; Medical Technology Companies
Subsegments:
1) By Direct Data Monetization: Data Licensing And Sales; Data Sharing Agreements; Subscription-Based Access To Data
2) By Indirect Data Monetization: Enhanced Patient Care Services; Improved Operational Efficiency; Targeted Marketing And Advertising; Research And Development Collaborations
What Trends Are Expected To Drive The Healthcare Data Monetization Market?
Major companies active in the healthcare data monetization market are introducing various digital transformation innovations, such as Software as a Service, to help healthcare providers offer more personalized patient experiences. SaaS, or Software as a Service, is defined as 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 example, in April 2023, Salesforce, a US-based cloud-based software company, announced new Customer 360 for Health capabilities aimed at assisting healthcare providers in delivering more personalized patient experiences. These innovations strive to streamline processes, reduce costs, and enhance patient care by utilizing real-time data, AI, and automation. Such features empower healthcare and life sciences organizations to elevate the overall care experience using the comprehensive power of Salesforce technology, including real-time data from Data Cloud, Einstein AI, and automation with Flow.
Who Are The Primary Competitors In The Global Healthcare Data Monetization Market?
Major companies operating in the healthcare data monetization market report are Google LLC, McKesson Corporation, Microsoft Corporation, Siemens AG, Accenture 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
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Which Global Regions Are Influencing The Competitive Landscape Of The Healthcare Data Monetization Market?
North America was the largest region in the healthcare data monetization market in 2024. The regions covered in the healthcare data monetization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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