The United Kingdom data exchange in healthcare market is set to generate $631.75 million by 2028, surging with a 28.64% CAGR during the estimated period 2022 and 2028.

The United Kingdom is the fastest-growing market in health data exchange in Europe. In 2022, the United Kingdom government announced a $230.08 million investment for enhancing access to NHS (National Health Service) data via Trusted Research Environments (TREs) and digital clinical trial services. Further, the United Kingdom health secretary announced $28.76 million for rapid digitization of social care to meet the commitment for at least 80% of social care providers to have digitized care records by 2024, closing the digital divide between social care and the NHS.

To know more about this report, request a free sample copy

The United Kingdom’s big data market would grow faster than the global market due to the strong underlying base that the United Kingdom has developed, provided recent government initiatives to overcome the barriers have proved successful. Multiple government organizations operate in the analytics and data sector, including the Clinical Practice Research Datalink (CPRD), the Health and Social Care Information Centre (HSCIC), and the Farr Institutes.

The United Kingdom data exchange in healthcare market is segmented into setup, type, implementation model, and deployment. Market by type includes biotech, pharma, payer, provider, and other types.

Modern biotechnology focuses primarily on medicine. In this field, government research agencies, multinational pharmaceutical companies, and small startups develop new treatment options for genetic tests to identify inherited diseases, including complex and rare ones. Technology has always been at the heart of biotech. The development of cutting-edge computing techniques like machine learning and artificial intelligence enables businesses to increase the scope and scale of their research and boost manufacturing efficiency, both of which shorten the time it takes for biotech companies to introduce new products to the market.

One major advantage data sharing brings for biotechnology is that data sharing can enhance the understanding of the results by enabling the pooling of data from multiple trials as well as individual clinical trials, extending scientific discoveries beyond those derivable from single studies. Further, based on the disease cause, analyzing large data sets helps drugmakers identify treatments.

Additionally, pharmaceutical companies have relied on empirical data to understand the efficacy of treatments and identify patterns and test theories. Data analytics, or the bigger term Big Data, is an evolution in the trend that has been continuing for years. In healthcare, data growth is generated from various sources like research and development processes, pharma retailers or distributors, and caregivers. The effective use of this data assists pharmaceutical companies in identifying new prospective drug candidates and rapidly developing them into approved and reimbursed medicines.

Leading players in the United Kingdom data exchange in healthcare market include Siemens Healthineers, Amazon Web Services Inc (AWS), CloudTag Inc, Cerner Corporation, etc.

Amazon Web Services Inc (AWS), a subsidiary of Amazon.com Inc, provides cloud computing services. The company offers a comprehensive range of cloud infrastructure services, including augmented and virtual reality, computing, storage, networking, mobile, developer tools, databases, analytics, robotics, etc. The company operates in the United States, the United Kingdom, Japan, Korea, India, Brazil, Canada, Ireland, Singapore, Australia, China, France, and Germany. Amazon Web Services Inc is headquartered in Seattle, Washington State.

AWS Data Exchange makes it easy to find, subscribe to, and use third-party data in the cloud. It also helps in processing and anonymizing big healthcare transactions. On the other hand, Amazon Simple Storage Service (Amazon S3) offers data availability, industry-leading scalability, performance, and security.

Report Synopsis

To request a free sample copy of this report, please complete the form below:

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.