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Healthcare Data Monetization Market Trends

Report ID: GMI12159
Published Date: Nov 2024
Report Format: PDF

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Healthcare Data Monetization Market Trends

Advanced tools such as artificial intelligence (AI), machine learning, and big data analytics allow healthcare organizations to extract more precise, actionable insights from their data, unlocking new revenue streams and optimizing healthcare outcomes.

With machine learning and predictive analytics, healthcare providers can forecast patient outcomes, identify high-risk cases, and optimize treatment plans. This capability has increased demand for monetized healthcare data that can train AI models and refine predictions, driving partnerships and investments in data analytics.
Additionally, big data analytics enables healthcare providers to segment populations based on health needs and trends, allowing for more effective population health management. Such insights are invaluable for public health agencies and insurers, creating monetization potential as they seek high-quality data sources for these predictive models
Moreover, natural language processing (NLP) is transforming unstructured data like clinical notes and medical records into structured, analyzable data. This capability makes vast datasets more accessible for research, clinical decisions, and market analysis, leading to greater demand for curated, monetized healthcare data compatible with NLP applications, thereby aforementioned factors are expected to drive the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global healthcare data monetization industry was valued at USD 516.2 million in 2023 and is expected to grow at a 17.1% CAGR from 2024 to 2032, driven by the increased adoption of digital health solutions.

The direct monetization segment generated USD 353 million in 2023, as it allows healthcare organizations to sell or license their datasets directly to third parties, such as pharmaceutical companies and insurers.

The North America healthcare data monetization market recorded USD 235.6 million in 2023 and is anticipated to grow at a 16.6% CAGR from 2024 to 2032, led by a mature digital health ecosystem and substantial investments in healthcare IT.

Key players in the industry include Accenture, Change Healthcare, H1, IBM, Infor, Innovaccer, LexisNexis Risk Solutions, McKesson Medical-Surgical, Open Text Corporation, and Optum.