Healthcare Data Monetization Market by Type (Direct, Indirect), Deployment (On-premise, Cloud), End User (Pharmaceutical & Biotechnology Companies, Healthcare Payers, Healthcare Providers, Medical Technology Companies), Region - Global Forecast to 2028

Healthcare Data Monetization Market - Global Forecast To 2028

The healthcare data monetization market is anticipated to grow from an estimated USD 0.4 billion in 2023 to USD 0.9 billion in 2028, at a CAGR of 18.5% during the forecast period. The market has a promising growth potential due to the increase in use of external data sources and exponentially increasing data volume and generation of large and complex healthcare datasets among other factors. However, data privacy security and concerns are expected to limit the growth of this market to a certain extent.

“Direct data monetization: The fastest-growing segment of the healthcare data monetization market, by type“

The direct data monetization segment is expected to witness the fastest growth in the healthcare data monetization market during the forecast. Direct data monetization in healthcare involves selling or licensing patient data to third-party organizations to generate revenue. This practice is driven by increasing demand for healthcare data, advancements in technology, regulatory changes, and financial pressures. The emergence of data marketplaces and platforms, where organizations can directly sell and exchange healthcare data is driving the growth of this market. Furthermore, blockchain technology is gaining traction for secure and transparent data transactions. The demand for highly specific and granular datasets, such as genomics and wearables data, is driving the adoption of these solutions.

“The healthcare payers segment is anticipated to be the second largest healthcare data monetization market, by end-user, during the forecast period”

Based on end user, the market is segmented into pharmaceutical & biotechnology companies, healthcare payers, healthcare providers, medical technology companies, and other end users. The healthcare payers segment accounted for the second-largest share of the healthcare data monetization market. Payers use data to better predict risk and better manage consumers’ health through behavioral insights that they may not capture from in-house data. The healthcare industry is moving from volume-based care to value-based care, because of which payers are faced with challenges to shift their business models. Payers need data analytics tools to overcome the challenges and enable better revenue recognition, new payment models, better options to patients, and fraud detection.

“Europe accounted for the second-largest share in the healthcare data monetization market during the forecast period”

Europe accounted for the second-largest share of the healthcare data monetization market during the forecast period. The major drivers of market growth are the increasing adoption of AI-based tools, favorable government initiatives, growing EMR adoption, increasing patient data volume, raising venture capital funding, rising healthcare expenditure, and growing geriatric population. Moreover, the potential for AI in advancing R&D activities has also attracted attention to this sector.

Break of primary participants was as mentioned below:

By Company Type – Tier 1–40%, Tier 2–35%, and Tier 3–25%

By Designation – C-level–35%, Director-level–25%, Others–40%

By Region – North America–45%, Europe–30%, Asia Pacific–20%, Middle East & Africa–3% and Latin America–2%

Key players in the Healthcare data monetization Market

The key players operating in the healthcare data monetization market include Oracle Corporation (US), Microsoft Corporation (US), Google (US), Salesforce, Inc. (US), SAS Institute Inc. (US), SAP SE (Germany), TIBCO Software Inc. (US), Sisense Inc. (US), Snowflake Inc. (US), QlikTech International AB (US), HealthVerity, Inc. (US), Accenture (Ireland), Availity, LLC (US), Domo, Inc. (US), Komodo Health, Inc. (US), ThoughtSpot Inc. (US), Datavant (US), Verato (US), Infor, Inc. (US), Virtusa (US), Infosys (India), Particle Health, Inc. (US), Innovaccer, Inc. (US), H1 (US), and Medoble Inc. (US).

Research Coverage:

The report analyzes the healthcare data monetization market and aims at estimating the market size and future growth potential of this market based on various segments such as type, deployment, end user, and region. The report also includes a product portfolio matrix of various healthcare data monetization products & services available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global healthcare data monetization market. The report analyzes this market by type, deployment, and end user.

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global healthcare data monetization market

Market Development: Comprehensive information on the lucrative emerging markets by type, deployment, and end user

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global healthcare data monetization market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global healthcare data monetization market.