MedTech Takes To Big Data Analytics: 3 Stocks Catch Eye
Zacks Investment Research | Apr 05, 2018 08:50AM ET
After the phenomenal rise of Artificial Intelligence (AI), big data analytics is taking the world by storm.
Be it technology, auto, retail or the banking sector, big data has been the core of all industries. In fact, the global big data market is expected to see a CAGR of 10% to reach a value of $76 billion by 2020 (Research and Markets).
The MedTech sector under healthcare is no exception. A fresh report by Research and Markets shows that big data in healthcare raked in $11.45 billion in 2016 and is expected to grow double-digits in the 2017-2025 period.
Thus, focusing on MedTech stocks that are leveraging from the fast-growing big data trend seems prudent. Here, we should also know that MedTech bigwigs already have a strong footing in the U.S. market, courtesy of R&D innovation, increasing consolidation and tax abatement.
Now, let’s take a look at the major factors that are driving the importance of big data in the MedTech space.
Electronic Health Records
The latest trend of electronic health records (EHR), electronic medical records, predictive analytics, real-time alerting and revenue cycle management services in the U.S. MedTech space has been gaining prominence.
Of these, the cloud-based EHR model is the most common application of big data in healthcare. According to Transparency Market Research, the global EHR market is expected to see a CAGR of 5.7% from 2017 to 2025, to reach an estimated value of $38.29 billion.
Reports suggest that MedTech companies with strong exposure to big data automated EHRs will excel in terms of operations and margins.
Of the major companies in the space, athenahealth Inc (NASDAQ:ATHN) has been hogging the limelight on its cloud-based big data network — athenaNet. The company also recently launched a machine-learning model to automate faxes.
Three other companies are also poised to gain from the rising influence of big data on MedTech. These stocks have a Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.