• Insights
  • Market Briefs
  • Data-Driven Healthcare: Market State of Play and the Next Wave of Data Innovation

Data-Driven Healthcare: Market State of Play and the Next Wave of Data Innovation

By Keith Figlioli, Karen Au Yeung & Lise Courtney D'Amico

Executive Summary

The average patient generates close to 80MB of health data each year in imaging and electronic health records. The healthcare industry generates approximately 30% of the world’s data volume today. By 2025, the compounded annual growth rate of data for healthcare will reach 36%, which is higher than industries like manufacturing, financial services, and media & entertainment.

Over the past two decades, a wave of investments has gone into building our healthcare data infrastructure to support capturing these data assets with the vision that, in doing so, we could harness them to improve our health system and outcomes. The explosive launches of ChatGPT and other large language models (LLM) have demonstrated that the time to act is now. We believe we are at the precipice of the second wave of data innovation. This wave will involve applying intelligence on top of our data foundation to unleash productivity and insights across business, clinical, and research use cases, and unlock true returns on our data infrastructure investments. We also believe organizations (healthcare systems, payers, life sciences, innovators) that do not have a clear strategy for how they intend to leverage data meaningfully in their businesses will be left behind.

In this report, we will explore three use cases for data and intelligence where we are seeing significant momentum and potential:

  • Business intelligence
  • Clinical intelligence
  • Data networks and commercialization