How Data Can Revolutionize Healthcare Research and Innovation
Healthcare providers are racing to harness analytics as the sector's data market approaches $54 billion by 2027
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Key takeaways
Healthcare providers are racing to harness analytics as the sector's data market approaches $54 billion by 2027
Healthcare research and innovation are two critical areas where data can positively impact. As the globe grapples with public health challenges, the need for a robust data-driven approach to healthcare has never been more apparent. According to a recent report, the global big data healthcare market expanded from $20.31 billion in 2022 to $22.73 billion in 2023, marking an 11.9% compound annual growth rate (CAGR). This market trend could reach $53.96 billion by 2027 at a CAGR of 24.1%
This market trend could reach $53.96 billion by 2027 at a CAGR of 24.1%.
But how exactly can data reshape the healthcare landscape, and what are the hurdles in unlocking its full potential?
Healthcare Rethink's Brian Urban examines data's impact on revolutionizing healthcare research and innovation with his guest Shubh Sinha, the CEO and Cofounder of Integral, a company at the forefront of addressing data compliance challenges in healthcare. Their conversation navigates the intricacies of data management, compliance and how these elements play into healthcare innovation.
Highlights from their discussion include the following:
- The current state of healthcare data compliance processes compared to more agile sectors like retail
- Integral's solution in speeding up data compliance processes to accelerate healthcare research and innovation
- An introduction to Robin AI, an innovative tool developed by Integral to enhance internal technical proficiency, showcasing a step towards autonomous data management in healthcare
Shubh Sinha, with his roots in software engineering from Purdue University, transitioned from the ad tech world into healthcare after identifying a significant gap in data compliance processes. His journey saw him play pivotal roles at LiveRamp, a data connectivity platform, before co-founding Integral. Sinha's eclectic experience has positioned him as a thought leader in healthcare data management, and his venture, Integral, is poised to bridge the existing gaps in data compliance, thus propelling healthcare research and innovation to new heights.
About the author
Brian Urban has a deep skill set in health promotion and product development for rare disease and senior populations with Large Health Plans and Specialty Pharmacy. Urban has served as a speaker on such topics for the Alzheimer’s Association, Obediah Cole Prostate Cancer Foundation, Cigna Corp and Utica University Institute for the study of integrative healthcare. Urban has received a Masters of Science in Exercise Physiology-Health Promotion, Masters of Business Administration in Market Development and is currently completing a Masters in Public Health at Dartmouth College. Urban is currently a research-fellow sponsored by a Robert Wood Johnson Grant supporting Utica University public health research in Upstate New York.
