Healthcare Data Monetization Global Market Report 2024

The healthcare data monetization market size has grown exponentially in recent years. It will grow from $0.69 billion in 2023 to $0.83 billion in 2024 at a compound annual growth rate (CAGR) of 20%. The growth observed in the historic period can be attributed to an increased emphasis on data privacy and security, along with a rise in the use of external data sources. These factors played a significant role in shaping the landscape of healthcare data monetization during that period.

The healthcare data monetization market size is expected to see rapid growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The anticipated growth in the forecast period can be attributed to the widespread adoption of electronic health records (EHR), a rising emphasis on regulatory compliance and standards. Major trends expected in the forecast period include an increased focus on data privacy and security, the rise of data exchange platforms, the expansion of value-based care models, the integration of artificial intelligence and machine learning, and the emergence of data monetization partnerships. These trends are poised to influence and shape the dynamics of the healthcare data monetization landscape.

The widespread adoption of electronic health records (EHRs) is anticipated to drive the growth of the healthcare data monetization market. EHRs, digital versions of patients' medical records containing information about their health history, diagnoses, medications, and treatments, play a crucial role in healthcare data monetization for applications such as medical research, drug development, and clinical trials. In June 2023, a survey conducted by Munich Re Group, a Germany-based insurance company, reported that approximately 90% of carriers are currently using EHRs, indicating a 38% increase in EHR adoption since 2020. This surge in electronic health record adoption serves as a key driver for the expansion of the healthcare data monetization market.

Prominent companies in the healthcare data monetization market are actively introducing innovations in digital transformation, such as Software as a Service (SaaS), to enable healthcare providers to deliver more personalized patient experiences. SaaS is 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 helping healthcare providers enhance patient experiences. These innovations streamline processes, reduce costs, and improve patient care by leveraging real-time data, artificial intelligence (AI), and automation. The features, incorporating real-time data from Data Cloud, Einstein AI, and automation with Flow, empower healthcare and life sciences organizations to enhance the overall care experience using Salesforce technology.

In April 2021, Oracle Corporation, a US-based computer technology company, completed the acquisition of Cerner for $28.3 billion. This strategic acquisition is expected to transform healthcare delivery by providing medical information systems that promise to reduce administrative workload, enhance patient privacy and outcomes, and lower overall healthcare costs. Cerner, a US-based provider of health information technologies, offers a range of solutions, including medical devices and electronic health records (EHR), contributing to Oracle's comprehensive approach to revolutionizing healthcare.

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.

North America was the largest region in the healthcare data monetization market in 2023. The regions covered in the healthcare data monetization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare data monetization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The healthcare data monetization market consists of revenues earned by entities by providing various services such as data collection and translation, data analysis, and digital health solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The healthcare data monetization market also includes sales of wearable devices, diagnostic equipment, and connected medical devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Healthcare data monetization refers to the process of leveraging healthcare data to attain measurable economic benefits. This involves either selling or licensing patient data to third-party organizations, directly generating revenue, or utilizing healthcare data to enhance existing products or create new ones, indirectly generating revenue.

The primary types of healthcare data monetization include direct data monetization and indirect data monetization. Direct data monetization in the healthcare data monetization market involves the practice of selling or licensing patient data to third-party organizations with the goal of generating revenue. This process can be deployed on-premise or in the cloud, and it serves various end-users such as pharmaceutical and biotechnology companies, healthcare providers, healthcare payers, and medical technology companies.

The healthcare data monetization market research report is one of a series of new reports that provides healthcare data monetization market statistics, including healthcare data monetization industry global market size, regional shares, competitors with a healthcare data monetization market share, detailed healthcare data monetization market segments, market trends, and opportunities, and any further data you may need to thrive in the healthcare data monetization industry. This healthcare data monetization market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.